Santander buys 30% stake in Atempo Growth to fund tech startups

Wednesday 19 January 2022 15:21 CET | News

Spain-based Santander Bank has announced it acquired a 30% stake in independent manager of venture debt company Atempo Growth to finance high-growth tech companies in Europe and the UK.

With the new investment in Atempo Growth, Santander is looking to support traditional bank financing and technology startups. The stake will operate independently but will continue to follow the Spanish bank’s strategy to strengthen its IPU, which includes vehicles like Mouro Capital and Fremman Capital.

Atempo recently closed its first round of capital raising, receiving investment commitments of over USD 200 million and is expected to complete its final close in Q2 2022. The investment fund mainly focuses on high-growth potential tech companies and typically invests up to EUR 25 million per company, depending on its profile and needs.

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Keywords: Santander, acquisition, crowdfunding, banks, investment
Categories: Banking & Fintech
Countries: Europe
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