Fintech Company Avaloq Launches Venture Capital Fund
Summary
Zurich, Switzerland-headquartered Avaloq Ventures AG will provide access to venture capital funding and growth support for startups and fast-growing fintech businesses partnering with Avaloq, e.g. by offering their solutions on the company’s Software Exchange.The new subsisdiary will be led by Minho Roth, an alternative investments and fintech entrepreneur with experience in funding startups, who Roth has worked for FiveT Capital AG and Baader Bank AG, among others.Lex Fenwick, previously CEO of Bloomberg and Dow Jones; Professor Dr. Philipp Sandner, Head of the Frankfurt School Blockchain Center; and James Stickland, previously Director of Innovation & Investments at HSBC and part of JP Morgan Chase’s CIO office.Avaloq Ventures will look to partner with third-party investors such as banks, wealth and asset managers, and established fintech companies in providing capital.In April this year, for instance, the firm acquired a 10% stake in Metaco, a Lausanne-based blockchain and crypto-currency specialist.
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