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Ant Financial wants to launch fund in Berlin

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.

Lisa Marie Münster · Stuttgart, 20. January 2021

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

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

Ant Financial has been planning a Berlin-based fund for months, which is to manage a total of 100 million dollars. Ant Financial is to contribute a large proportion, but other investors are also to participate, according to Finance Forward. Manager Jasmine Zhang is currently looking for a management team for the fund in Berlin. Investments are to be made in FinTechs and start-ups with blockchain technology.

Ant Financial is not particularly popular in its home country at the moment: the Chinese government caused the company's 37 billion dollar IPO planned for last November to be canceled. The reason for this was a speech by Alibaba boss Jack Ma, who owns Ant Financial, in which he criticized the state banks and regulatory authorities. Ma then disappeared for months, reappearing in public for the first time in a video on Wednesday.

Ant Financial is already involved in 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 investing 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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