Motive Partners buys Ramin Niroumand's fintech fund

Embedded Capital was acquired by the New York venture capitalist. Together they intend to manage 300 million euros in the future.

The New York venture capitalist Motive Partners has acquired the Berlin-based fund Embedded Capital. The fund, which specializes in fintechs, was founded by Ramin Niroumand only around a year ago. Niroumand is known as the founder of the fintech incubator Finleap. Neither company commented on the price of the takeover.

Embedded Capital has invested in nine companies since it was founded. These include Bezahl.de and the Luca app, which became well-known during the coronavirus pandemic. Motive Partners is now aiming for a total volume of 300 million euros with the takeover. Grüner Niroumand will work at Motive and is set to take on a management position there.

Motive Ventures is managed by Mariano Belinky, who founded the venture capital business of the major Spanish bank Santander. As the Handelsblatt reports, the venture capitalist has only invested in five lesser-known start-ups to date. According to the report, further takeovers could be on the cards in the ailing fintech scene.