UniCredit and Anthemis set up fintech partnership

The agreement sees UniCredit initially committing €200m to the initiative, which will target mid-stage startups and follow-on investments in fintech businesses.

The partnership is part of UniCredit's plan to accelerate the digitisation of its banking group, with a view to collaborating with new players in the fintech market to explore new technologies.

For Anthemis, the partnership is part of a new offering, Anthemis Investment Partnerships, aimed at helping large financial institutions to build strategic investment platforms.

The London-based VC is also currently raising a new fund, targeting $100m. According to an Anthemis spokesperson, the new partnership initiative is separate to the fund.

The initiative will focus primarily on Europe and the US. It will be governed by a management board comprising representatives from both UniCredit and Anthemis, while the investment committee will also include members from each organisation.

Paolo Fiorentino is chief operating officer and deputy general of UniCredit's innovation team, while Nadeem Shaikh is founder and CEO of Anthemis; both will oversee the partnership.

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