UBS, the world’s largest wealth manager, said it has launched UBS Next, a $200 million portfolio that targets investments in fintech and the “broader tech ecosystem.”
UBS said it is driving both internal initiatives as well as existing strategic partnerships and external collaborations with technology companies, start-ups, regulators, peer banks, other market participants, academia and industry thought leaders.
In addition to direct investments, UBS is entering a strategic collaboration with venture capital firm Anthemis, which has been identifying fintech companies for over a decade and will help accelerate investment opportunity identification and deal flow for UBS.
UBS Next will be funded exclusively by UBS and will be managed by a dedicated tech venture investment team with market-proven capital expertise.
“Connecting to fintechs and tech start-ups through our innovation labs, digital factories, future of finance initiatives as well as project collaborations has always been key to remaining at the forefront of the digital movement to drive client experiences and operational excellence,” said Sabine Keller-Busse, Group Chief Operating Officer and President UBS Europe, Middle East and Africa.
Mike Dargan, Head of Group Technology, said: “UBS Next is a further step to accelerate our innovation efforts as well as to identify and apply the latest technology for our client businesses.
“With our investments through close collaboration with Anthemis, we widen our access to fintech start-ups.”