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Today: July 22, 2024
June 30, 2024
1 min read

NAB Ventures on the Hunt for Fresh Investments Amid Model Evolution

TLDR:

  • NAB Ventures is actively looking for new investments in the market for startups and fintechs.
  • NAB Ventures remains committed to its original label and strategy while other bank VC funds have seen changes or gone quiet.

NAB Ventures, the venture capital fund of National Australia Bank, is actively seeking new investments in the market for startups and fintechs. While other bank VC funds like Telstra Ventures have undergone changes or gone quiet, NAB Ventures remains true to its original label and strategy. The managing director, Amanda Angelini, sees the fund as both a commercial investment and part of the bank’s research and development efforts.

Last week, NAB Ventures took a stake in the digital asset custody business Zodia Custody and formed a partnership with Banked to grow the merchant base for account-to-account payments. The fund’s philosophy emphasizes that while the parent bank seeks a commercial return, it may not necessarily target a liquidity event like a non-corporate VC would.

In an interview for Capital Brief’s Past Performance series, Angelini explained the fund’s approach and strategy. NAB Ventures founder Todd Forest now serves as a strategic advisor, while Angelini has been the managing director for just over three years. The fund’s commitment to innovation and investment in the fintech space remains strong as it continues to scout for new investments in the evolving landscape of bank VC models.

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