Allianz closes venture capital arm

Allianz has recently closed its venture capital arm, Allianz Venture Partners, reversing plans to commit E300m to early-stage investments. The closure is part of a drive to reduce complexity in its business; Allianz does not expect to make further venture capital investments. The existing portfolio of about E10m in direct investments and stakes in other funds will be managed by Allianz Private Equity Holding, a newly created unit that will look after all the company's private equity investments.

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• GPs
• DACH