China-based digital financial services provider Ant Group is planning to form a $100m corporate venture capital fund targeting European financial technology developers, Capital and Finance Forward (CFF) has reported.
CFF reported that Ant manager Jasmine Zhang is looking for a management team for the fund in Berlin, Germany. Ant, an affiliate of e-commerce group Alibaba, will commit part of the fund’s capital, with the rest to come from external investors, it added.
The vehicle will invest in blockchain technology and fintech business models, according to CFF, though both Ant and Zhang declined to comment.
