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Ant Financial wants to launch fund in Berlin

Lisa Marie Münster | 20.01.2021

Ant Financial wants to launch fund in Berlin — (Foto: Ant Group)

Chinese FinTech giant Ant Financial wants to invest in German FinTechs with a $100 million fund. One manager is already looking to lead a team in Berlin, according to Finance Forward.

For months now, Ant Financial has been planning a Berlin-based fund that would manage a total of $100 million. Ant Financial is expected to contribute a large portion, but other investors are also expected to participate, according to Finance Forward.

Manager Jasmine Zhang is currently in Berlin looking for a leadership team for the fund. Investments will be made in FinTechs and startups using blockchain technology.

Ant Financial isn't particularly popular in its home country right now: the Chinese government made sure that the company's $37 billion IPO planned for last November was cancelled. The reason was a speech by Alibaba CEO Jack Ma, who owns Ant Financial, in which he criticized state-owned banks and regulators. After that, Ma went into hiding for months; on Wednesday, he reappeared in public for the first time in a video.

Ant Financial is already busy with blockchain projects outside the Chinese market under the Antchain brand, and the European scene has been trying to emulate the Chinese payment system Alipay for some time. Investments in this direction would only be logical, the Chinese company is already participating in start-ups with similar offerings: Just recently, the Klarna Group announced that Ant Financial was joining them.

Alibaba Ant Financial berlin Jack Ma

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