Ant Group builds a 100 million euro fund
Tom Schmidtgen
| 14.05.2021
The money of the Alibaba subsidiary is to flow primarily into fintechs from Europe. The Chinese want to invest up to five million euros per start-up.
Ant Group is launching an investment fund for fintechs in Europe, Finance Forward
reports. The first closing has already taken place, it said. It is expected to eventually raise €70 million to €100 million in investment. The fund, called A&T Capital, will be led by Jasmine Zhang.The money will come from institutional investors, with Ant Group becoming the anchor investor, according to Finance Forward.
Alibaba subsidiary Ant has built payment app Alipay, among others. The fund will be managed from Shanghai, Singapore and Berlin. The focus is on fintechs from Europe, though A&T Capital is also looking for startups with blockchain technology worldwide. Other startups are also not categorically excluded. The investments amount to up to five million euros per start-up. A first funding has already been announced: Naos Finance from Taipei receives money from the Chinese fund.
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