The move will help the bank fund Fin Tech innovation across Europe and Asia.
In Brief:
HSBC is launching a specialist venture capital arm to invest in companies “that will participate in the transformation of financial services.” The team will be led by Remi Bourette, head of venture and growth investments at HSBC and Kara Byun, director of venture and growth investments.
The new venture arm will participate in Series A and B rounds of firms in either B2B software or financial services sectors across Europe and Asia.
What does this mean?
Major banks are increasingly keen to partner or ally with innovative FinTechs.
In HSBC's case this investment arm will allow it to focus on major innovative areas of finance especially ESG and sustainability.
