ABN AMRO Bank NV announced a strategic partnership with Motive Partners, an international specialist private equity firm focusing on venture, growth equity and buyout investments in technology-enabled financial and business services.
Motive Ventures, the early-stage venture arm of Motive Partners, will manage the ABN AMRO Ventures Fund (AAV), consisting of 15 early-stage companies. In addition, ABN AMRO will become a significant investor in Motive-managed vehicles.
Their goal is to strengthen the fintech sector and boost innovation by bringing Motive Partners’ ecosystem and experts to the AAV portfolio and ABN AMRO’s broader network. Motive Ventures’ portfolio consists of 21 investments in seed and series A stage companies, spanning the United States and Europe. The combined AAV-Motive Ventures portfolio will thus number 36 companies.
The new partnership has been formed on two pillars. First, Motive Ventures will assume the management of AAV with €150m in assets under management. Hugo Bongers, Managing Director and Head of ABN AMRO Ventures, and Tim Wanders, Executive Director at ABN AMRO, are joining Motive Ventures as Partner and Principal, respectively.
Second, ABN AMRO will become a significant investor in Motive-managed vehicles.
The strategic partnership is expected to close in Q4 2023, with Hugo Bongers and Tim Wanders joining the Motive team before the end of the year.
ABN AMRO is a Northwest European bank for retail, corporate and private banking clients, headquartered in Amsterdam. Its focus is on Northwest Europe. With more than 20,000 people, of which approximately 5,000 work outside the Netherlands, the company serves more than 5 million clients.
Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on venture, growth equity and buyout investments in technology-enabled financial and business services companies based in North America and Europe, and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. .
Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. Today, the team consists of 13 employees across Berlin, London and New York.