NEW YORK--(BUSINESS WIRE)--Anthemis Group (“Anthemis”), a digital financial services venture capital and strategic advisory firm, has announced the first close of the Anthemis Venture Fund I (“the fund”). The fund will focus on early stage venture investments, providing pre-seed, seed and series A financing to digitally native financial services startups across North America and Europe. The fund is anchored by the European Investment Fund (“EIF”), as well as UniCredit, a leading European banking group.
Year-to-date for 2016, Anthemis has raised $285 million in capital across its platform from institutional investors and is actively investing in early stage through growth-stage financing rounds.
As an early mover in financial technology with a history of successful venture capital investing, Anthemis is well-positioned to identify companies with innovative, forward-looking, scalable business models. The firm has a decade of experience funding financial technology startups and the founders have spent their careers in the sector.
“Our enviable position of being truly expert in both financial services and technology, coupled with our history of investing in startups and advising financial services incumbents, sets us apart from others. The Anthemis team’s experience is becoming increasingly important as more money flows into the sector,” said Amy Nauiokas, Anthemis founder and president. “As competitive pressures in fintech continue to rise, it’s the focused experts with track records who will be the best partners for investors and entrepreneurs.”
“EIF currently supports over 400 private equity funds across Europe, including first-time teams. Anthemis is one of the earliest players in the fintech industry, which is a market with high potential. As both investors and advisors, with a broad geographic reach across Europe, Anthemis has a good strategy for SMEs which we are keen to support,” said Pier Luigi Gilibert, Chief Executive at the European Investment Fund.
“The Anthemis team is deeply embedded in the fintech industry and their proven expertise in finding new startups will add great value to our investment process,” said Marco Berini, Head of Group Innovation at UniCredit. “Our industry is constantly changing, and we want to keep pace with innovation so that we can create long-term value for our clients and stakeholders.”
“We’re excited to have secured this level of investment for our inaugural venture fund,” added Sean Park, Anthemis founder and chief investment officer. “As new firms continue crowding into the industry, our investment partners rely on our expertise and discernment to build a portfolio of truly transformative companies. From robo-advising, to insurance, to blockchain, our decade-long history of identifying early stage category creators within financial services was a vital factor in attracting such high caliber anchor investors for the fund.”
Anthemis holds more than 30 companies in its portfolio, including the automated wealth management platform Betterment, fundraising platform Artivest and on-demand insurer Trov. Successful exits include Simple, sold to BBVA for $117 million in 2014, and The Climate Corporation, acquired by Monsanto for $930 million in 2013. As part of its investment philosophy, Anthemis has built a global ecosystem consisting of startups, entrepreneurs, financial institutions, startup programs, regulators, and academic consultants.
The Anthemis Venture Fund I investment team is led by Sean Park, Amy Nauiokas and Yann Ranchere.
Anthemis is a leading digital financial services venture capital and strategic advisory firm, focused on reinventing financial services for the 21st century. Anthemis believes the financial services industry is approaching the inflection point of a multi decade transformation driven by the development, diffusion and adoption of new information and communications technologies to fundamentally change the way services are designed, delivered and consumed. For more than a decade, Anthemis has worked with a diverse group of customers and partners, from startups to venture capital firms and financial institutions, to identify, catalyze and accelerate digitally native financial firms that are driving positive and disruptive change across the industry.
About the European Investment Fund
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
UniCredit is a leading European commercial bank operating in 17 countries, with over 143,000 employees1, over 7,800 branches2 and an international network that spans 50 markets. Our strategic position in Western and Central and Eastern Europe enables us to command one of highest market shares in the region.
1) Data as at March 31, 2016. FTE "Full Time Equivalent"= number of employees counted for the rate of presence. Figures include employees of Koç Financial Group calculated at 100%
2) Data as at March 31, 2016. Figures include branches of Koç Financial Group calculated at 100%.
This press release does not constitute an offer to sell or a solicitation of an offer to make an investment (the "Investment") in Anthemis Venture Fund I (the "Fund"). No such offer or solicitation will be made prior to the delivery of a limited partnership agreement, a subscription agreement and/or other materials relating to the Fund. Before making an investment decision with respect to the Investment, potential investors are advised to carefully read all the offering materials relating to interests in the Fund. Further, potential investors are advised to consult with their tax, legal and financial advisors before consummating an Investment.
THE INTERESTS IN THE FUND WILL BE OFFERED IN THE UNITED STATES ONLY TO A VERY LIMITED NUMBER OF INVESTORS WHO MUST ALL BE ACCREDITED INVESTORS which for natural persons are investors who meet certain minimum annual income or net worth thresholds. The interests will be offered in the United States in reliance on an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and, as a result, the Fund will not be required to comply with specific disclosure requirements that apply to funds registered under the Securities Act. The FCA and the SEC have not passed upon the merits of, or given their approval to, the interests in the Fund, the terms of the offering, or the accuracy or completeness of any offering materials. The interests issued will be subject to legal restrictions on transfer and resale and future investors may not be able to resell their interests in the Fund. Therefore, all investors in the Fund must be able to bear the loss of their investment.