Motive Partners to manage ABN Amro’s ventures fund as part of new partnership
Dutch investment bank ABN Amro has partnered with specialist private equity firm Motive Partners in a bid to “support continued innovation and growth in the evolving fintech landscape”.
ABN Amro partners Motive Partners
As part of the agreement, which is expected to close in Q4 2023, Motive Partners’ early-stage venture arm, Motive Ventures, will assume management of the ABN Amro Ventures (AAV) fund, which is comprised of 15 early-stage companies and has €150 million in assets under management.
To ensure continuity, Hugo Bongers, managing director and head of AAV, and Tim Wanders, executive director at ABN Amro, are set to join Motive Ventures as partner and principal, respectively, by the end of the year.
At the same time, the bank is set to become a “significant investor” in investment vehicles managed by Motive, in a move the bank’s chief strategy and innovation officer, Edwin van Bommel, believes 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,” he comments.
