ABN AMRO Bank, a prominent player in the global financial industry, has announced a strategic collaboration with Motive Partners, an international private equity firm specialising in technology-enabled financial and business services investments.
This collaboration marks a significant development in the world of financial technology, as two formidable entities come together with a shared vision to foster innovation and growth within the evolving fintech landscape.
In a landscape where funding for the financial services industry plummeted by a staggering 70% between 2021 and 2022, and numerous venture capitalists scaled back their investment efforts, ABN AMRO and Motive Partners are blazing a new trail. Their partnership brings together two leading venture platforms, each boasting decades of fintech expertise and a steadfast commitment to innovation in financial services and venture capital.
The primary aim of this alliance is to fortify the fintech sector and propel innovation by merging the Motive Partners’ extensive ecosystem and experts with the ABN AMRO Ventures Fund (AAV) portfolio and ABN AMRO’s broader network.
Motive Ventures, the early-stage venture arm of Motive Partners, is set to oversee the management of AAV, which includes a diversified portfolio of 15 early-stage companies. In addition to this, ABN AMRO is poised to become a substantial investor in Motive-managed vehicles, solidifying its dedication to exploring new horizons in fintech innovation through its partnership with Motive Partners.
With Motive Ventures already boasting a portfolio of 21 investments in seed and series A stage companies spanning the United States and Europe, the combined AAV-Motive Ventures portfolio will encompass an impressive total of 36 companies.
ABN AMRO chief strategy and innovation officer Edwin van Bommel said: “Our collaboration with Motive Ventures is a major milestone for ABN AMRO. We believe that joining forces with a definitive leader in the rapidly evolving fintech landscape will not only drive innovation but also enhance our competitive edge.
“This partnership will strongly support our strategic ambition of being a personal bank in the digital age for our customers.”
This partnership rests on two key pillars. Firstly, Motive Ventures will take the reins of AAV, which currently manages assets worth €150m, leveraging Motive Partners’ extensive expertise to enhance its operations.
To ensure a seamless transition and bolster capabilities at Motive Ventures, Hugo Bongers, Managing Director and Head of ABN AMRO Ventures, and Tim Wanders, Executive Director at ABN AMRO, will assume roles as Partner and Principal, respectively, within Motive Ventures.
Secondly, ABN AMRO’s commitment to fintech innovation will be further underlined as it becomes a significant investor in Motive-managed vehicles.
Motive Partners partner and Motive Ventures head Ramin Niroumand said: “ABN AMRO has long been a leader among financial institutions in European fintech investing. With portfolio companies like Tink and Penta, they have already demonstrated great investments and exits, and a deep understanding of how to deliver strategic value to the global ecosystem.
“We have already worked together on several co-investments, which is why we are so happy that Hugo and Tim are joining the Motive Ventures team.”
The strategic partnership is slated for completion in the fourth quarter of 2023, with Hugo Bongers and Tim Wanders set to join the Motive team by the end of the year, reinforcing the alliance’s commitment to driving fintech innovation forward.
