HSBC AM launches fintech venture capital strategy
The fund will be run by Run by Remi Bourrette, head of venture & growth investments and director Kara Byun.
HSBC AM (Asset Management) has launched a venture capital fund that will invest in fintech companies in Europe and Asia.
The strategy, which will deploy capital into business-to-business companies that offer software or financial services to other institutions.
Run by Remi Bourrette, head of venture & growth investments at HSBC AM, and director Kara Byun, the strategy will participate in series A and B funding rounds.
The fund will look to raise capital from institutional investors, family offices, private banks and ultra-high net worth individuals. The firm did not disclose how much it is looking to raise.
‘As part of our commitment to provide clients with exciting investment opportunities, this strategy will give them access to high growth sectors and parts of the world where economies are expanding fast such as the Greater Bay Area in China,’ said Joanna Munro (pictured), CEO of HSBC Alternatives.
Bourette added: ‘We are interested in the tectonic changes of the industry, even more so when they relate to the role of finance in the economy and society in general.'
‘We believe the transition to ESG-driven finance will lead to the reinvention of many product lines creating a powerful tailwind for sustainability-native companies. We also see wealth creation in Asia as an enduring trend that will benefit technology companies across wealth management, capital markets and insurance.’
The launch of the strategy is part of HSBC AM’s efforts to expand into direct alternatives and follows the formation of the group’s Climatech venture capital team, with the appointments of Christophe Defert and Michael D’Aurizio.
In June, HSBC AM revealed that it was combining its existing alternatives capabilities under one division, with combined assets of $53bn, overseen by a team of 150.