UBS plans to invest $200 million in digital ventures, the wirehouse announced Tuesday while launching UBS Next, a new initiative it said was designed to “further engage with fintechs and the broader tech ecosystem.”
UBS Next will be funded exclusively by UBS and be managed by a dedicated tech venture investment team with “market-proven capital expertise,” it said. That team is part of the firm’s central Group Technology division and the $200 million investment is expected to be made on a medium-term basis.
The new initiative will manly pursue direct investments into early-stage fintechs and other relevant tech companies, according to the company.
Already, “several direct investments are in evaluation” by UBS, it said, but didn’t name any of the firms it set its sights on.
In addition to direct investments, UBS entered into a strategic collaboration with Anthemis, a global venture capital firm that has been identifying fintech firms for over a decade and “will help accelerate investment opportunity identification and deal flow for UBS,” UBS said.