Santander has announced that its venture business will become an independently managed entity.
Santander Innoventures will now be known as Mouro Capital.
The department was first established in 2014.
It will have $400mn in allocated funds – having gradually increased over the years.
What does this mean?
Mouro Capital will form an important part of Santander’s commitment to invest in digital and technology solutions to the tune of €20bn by 2022. Santander Innoventures started with $100mn in 2014, which doubled to $200mn in 2016 and is now set to double again. It invests across Europe and the Americas.