Germany-based stock market manager Deutsche Boerse launched a corporate venturing arm named DB1 Ventures yesterday.
DB1 will manage the company’s existing venture capital portfolio, which includes ledger technology developer Digital Asset Holdings and venture capital firm Illuminate’s IFM Fintech Opportunities Fund, as well as making new investments.
The unit will primarily operate as a strategic unit, only funding companies with direct strategic worth to Deutsche Boerse, and will focus on growth-stage investments, though it is geographically agnostic.
Deutsche Boerse CEO Carsten Kengeter said: “Our objective with DB1 Ventures is to continue to be active in investing in early to growth stage ventures which are core or adjacent to our client, product, geographic and technology strategy.
“And as part of our active management, we will also deepen and extend promising partnerships with some of our current portfolio companies.”
DB1 will initially be funded from its parent company’s balance sheet and its investments will be determined by an investment committee chaired by Kengeter. Ankur Kamalia, head of venture portfolio management for Deutsche Boerse, will oversee its activities.