UBS to invest in fintech projects

Tuesday 26 May 2020 11:47 CET | News

UBS Group, a Switzerland-based investment banking, has announced creating a venture capital fund with a corpus of hundreds of millions of dollars of its own fund.

According to Bloomberg, the venture fund will exclusively back fintech projects in three broad categories – client engagement, investing and financing platforms, and startups improving underlying operations of the bank.

The bank has already started the screening of potential companies within the sector and is planning to make investments between USD 10 million and USD 20 million in dozens of companies, considering holding its investments for at least five years.

UBS is still in the hiring process to build its team responsible for handling its venture investments.

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Keywords: UBS, fintech, Switzerland, banking, startups, banks
Categories: Banking & Fintech
Countries: Switzerland
This article is part of category

Banking & Fintech

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