Touchdown Ventures, a US CVC-as-a-service company that counts some of the world’s most recognisable companies as clients, has merged with US wealth management company Cerity Partners.
The new company will be called Cerity Partners Ventures. The acquisition was for an undisclosed amount.
Founded in 2014, Touchdown Ventures manages corporate venture capital for more than 12 companies including the Japanese optics manufacturer Olympus and the US software company Bentley Systems.
In 2020, Bentley Systems established a $100m fund that Touchdown managed. The fund, Bentley iTwin Ventures, invests in sectors including energy, water and mobility. It counts among its portfolio companies Transect, which makes software for performing environmental due diligence, and Plotlogic, which makes technology to analyse the material composition of mines.
It also manages a fund of an undisclosed size for T-Mobile, a US wireless communications company, which was set up in 2020. Targeting startups incorporating 5G technology, its portfolio companies include Halo Car, which operates a driverless car share service over a 5G network.
Cerity Partners was founded in 2009 and provides a range of financial services. Incorporating Touchdown’s business as Cerity Partner Ventures represents its first activity in CVC.