UniCredit Launches €200 Million Fintech Fund
In a nod to the ever-expanding Fintech bandwagon, Italy’s UniCredit is the latest bank to join in, by pledging a €200 million fund that will aid mid-stage startups and established Fintech businesses. The fund is being set up in partnership with London-based venture and advisory firm Anthemis Group. A new joint investment venture and partnership between prominent European bank UniCredit and Fintech venture and advisory firm Anthemis Group sees the setting up of a new fund. Dubbed UniCredit EVO, the fund will seek to back mid-stage startups and follow-on investments in more mature and....
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Chinese consumers are rapidly moving towards non-bank and cashless alternatives, such as Alibaba’s $60 bln financial application Alipay. To cope with the rapid growth rate of its FinTech industry, Chinese state-owned companies launched a $1.5 bln fund to support emerging FinTech startups and technologies. The consortium of Chinese state-owned companies which includes Hong Kong-listed Credit China FinTech Holdings, Shanghai Xinhua Distribution Group, China Huarong International and 8 other major organizations in the mainland, established a fund known as “Asia FinTech Merger and Acquisition....
Egyptian banks are reportedly on course to launch a $69.6 million fund which is earmarked to support the country’s fintech companies. According to a report, this fund is expected primarily to target the digital banking and financial services sector.
Fintech Apps Targeted
Fintech apps that can extend banking and financial services to all segments of society in a cost-effective way will also be targeted. So far, only the National Bank of Egypt, Banque Misr, and Banque du Caire have been identified as the financial institutions that are participating in this initiative.
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High net worth investors can now gain exposure to speculative bitcoin mining through what’s being billed as the world’s first "bitcoin mining fund". Logos Fund, a Regulation D offering, is positioning itself as an alternative products like the Bitcoin Investment Trust (BIT), the private investment vehicle launched by Digital Currency Group CEO Barry Silbert, by creating an offering that blends bitcoin mining with buy-and-hold investing. The fund was created by Marco Streng, founder of hosted cloud mining company Genesis Mining. Logos Fund managing partners include Björn Tilmann Arzt,....
Italy-based international bank UniCredit saw its shares suspended Monday and 5% losses in overall value as tests showed the country’s banks are still unable to weather financial crises. Unicredit, Banks ‘Plaguing’ Government. In gloom reminiscent of pre-crisis 2008, stress tests conducted by the regulator showed UniCredit, along with other Italian....
The HBAR foundation, a nonprofit organization designed to accelerate the development of the Hedera Hashgraph ecosystem, has announced the launch of a new Metaverse fund. The fund, which launches with $250 million, will serve to entice builders and programmers to bring their metaverse products to the Hedera network and make use of its decentralized ledger technologies.
HBAR Foundation Wants the Metaverse to Happen on Hedera
The battle for the metaverse is intensifying, and many organizations are offering incentives for these experiences to be built using their own infrastructures.....