Key Takeaways
- Tenity announces the first closing of its Tenity Incubation Fund I, attracting investments from SIX Group, UBS Next, Julius Baer, and Generali’s House of InsurTech Switzerland.
- The fund will invest in fintech and insurtech startups at angel, pre-seed, and seed stages, with a focus on those emerging from Tenity Flagship Incubation programs across Europe and Asia.
- Tenity aims to build a supersized portfolio of several hundred companies, spanning all fintech and insurtech subsegments.
- The fund offers a unique opportunity for investors to participate in early-stage innovations with high potential impact for the financial industry.
Tenity’s Incubation Fund I – An Overview
Tenity, a Switzerland-based venture capital firm (formerly F10), announced on Thursday the first closing of its Tenity Incubation Fund I. The fund has attracted investments from SIX Group, UBS’s strategic venture and innovation unit (UBS Next), Julius Baer, and Generali’s House of InsurTech Switzerland. According to the statement, the fund will invest in fintech and insurtech companies at angel, pre-seed, and seed stages, specifically targeting startups emerging from Tenity Flagship Incubation programs across Europe and Asia.
Targeting High-Potential Startups
The Tenity Incubation Fund I seeks to be the first institutional investor in a startup, providing funding, hands-on support, and networking opportunities throughout the four-month Tenity incubation program. This approach aims to accelerate business growth on a larger scale. The fund focuses on founders in the idea or product development stage who have not yet raised funds or have only secured a small family round. For its limited partners, the fund will deliver both strategic and financial return on investment.
Building a Supersized Portfolio
Tenity plans to construct a massive portfolio of several hundred companies, covering all fintech and insurtech subsegments. This strategy offers a unique opportunity for investors to participate in early-stage innovations with high potential impact on the financial industry. To date, Tenity’s startup programs have supported over 250 startups, with alumni raising significant funding from notable investors.
A Comprehensive Support System for Founders
Maximilian Spelmeyer, Chief Investment Officer at Tenity, highlighted the firm’s commitment to supporting founders throughout the incubation program. By providing access to networks, business expertise, corporate partners, mentors, and investors, Tenity creates a fertile environment for companies to perfect their products, master go-to-market strategies, and increase their chances of future success.
Creating Tangible Impact in the Financial Industry
With investments from global wealth manager UBS, financial infrastructure provider SIX, wealth manager Julius Baer, and insurer Generali Switzerland, the Tenity Incubation Fund I is poised to create a tangible impact on innovation in the financial industry. The fund is looking at a second closing in the fourth quarter of 2023.
The Tenity Incubation Fund brings together a multidisciplinary team of investment and venture-building experts united by a common vision of creating the future of finance. Led by Chief Investment Officer Maximilian Spelmeyer, the Tenity investment team aims to build a portfolio of around 400 companies across Switzerland, Western Europe, and Asia-Pacific. The team’s vast experience in the financial sector includes advisory mandates for SIX Fintech Ventures, the CVC of SIX Group, with portfolio companies like Yokoy, Keyrock, or Doconomy, Tenity Investment AG, and the Tenity Global Asset balance sheet portfolio.
Pioneering the Future of Fintech and Insurtech
With the Tenity Incubation Fund I, the venture capital firm is set to make waves in the fintech and insurtech sectors by supporting startups with game-changing ideas and technologies. Through its extensive network of industry experts, mentors, and investors, Tenity is well-positioned to nurture and accelerate the growth of these innovative companies, ultimately shaping the future of finance in Europe and Asia.
Tenity’s Track Record of Success
The success of Tenity’s startup programs is evident in the achievements of its alumni. Notable examples include Yokoy, which raised an $80 million Series B from Sequoia, Keyrock, with a $72 million Series B led by Ripple, Stableton’s CHF15M Series A led by TX Ventures, CoverGo’s USD15M Series A led by SemperVirens VC, and Oper’s EUR11M Series A led by ABN Amro Ventures. This track record reinforces Tenity’s commitment to fostering innovation and growth in the fintech and insurtech sectors.
Conclusion
The Tenity Incubation Fund I presents an exciting opportunity for investors to participate in the early stages of innovation with high potential impact for the financial industry. By targeting fintech and insurtech startups in Europe and Asia, Tenity aims to create a supersized portfolio of companies that will redefine the future of finance. With the support of industry-leading investors and a multidisciplinary team of experts, Tenity is poised to continue its mission of accelerating business growth and driving innovation in the financial sector.
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