TLDR:
- ABN Amro Ventures has transferred its portfolio to Motive Ventures, a fintech investor.
- Several members of the ABN Amro investment team, including managing director Hugo Bongers, have joined Motive Partners.
In a strategic move, ABN Amro Ventures has handed over its corporate venturing operations to Motive Ventures, a fintech-focused investor. This decision came after it was no longer sustainable for the bank to keep its venturing arm in-house. The team managing ABN Amro Ventures, including managing director Hugo Bongers, has officially joined the Motive Partners team as partners. With $150 million in assets and 15 early-stage companies under management, Motive Ventures has taken on the responsibility of overseeing the portfolio previously managed by ABN Amro Ventures. Through this transition, ABN Amro has become a significant investor in Motive Ventures.
The ABN Amro Ventures team had a successful track record, with investments in companies like Tink and Penta yielding strong returns. However, as the portfolio and the bank became less aligned, the decision was made to transfer the operations to Motive Ventures. While many banks choose to either spin out their venture operations or wind them down, ABN Amro opted for a third option by partnering with Motive Ventures. This move is seen as mutually beneficial, as it allows the bank to stay connected to fintech developments and provides the portfolio startups with access to a larger group of investors.
By joining forces with Motive Ventures, ABN Amro Ventures gains access to a larger team of professionals, as well as broader geographic coverage with offices in key locations like New York, London, Amsterdam, and Berlin. This strategic collaboration aims to enhance both the bank’s and the startups’ growth opportunities in the fintech space. Overall, the transfer of the portfolio to Motive Ventures represents a unique approach to managing corporate venturing operations and highlights the importance of strategic partnerships in the evolving landscape of fintech investing.
