Swiss core banking solution provider Avaloq announced that the investment advisor of its fintech investment fund is being spun off from the group by means of a management buyout and renamed as FiveT Fintech.

This will give the management team more agility in advising the fund while Avaloq will focus on growing its ecosystem, also by increasing its commitment to the fund.

This change of ownership will not impact the fund’s strategic focus and Avaloq will maintain its long-term interests and involvement in the spin-off.

Launched in 2020, the Avaloq Ventures fund provides investors with early-stage access to next-generation players in the financial industry through its ecosystem, consisting of established banks and wealth managers as well as up-and-coming fintech companies.

The management buyout is led by Francisco Fernandez (Founder and board member of Avaloq Group and Chairman of Avaloq Ventures), Alexander Christen (CEO of Avaloq Ventures) and FiveT Capital Holding, all of whom have already been a shareholder of the investment advisor. Following the spin-off from Avaloq Group, Avaloq Ventures is being renamed FiveT Fintech.

Francisco Fernandez said,

“As FiveT Fintech enters the next stage of its growth story, we firmly believe that the fund will benefit from this new structure, allowing the management team more freedom to implement its innovative strategy.

 

I’m personally very excited about the investment opportunities in the extremely dynamic fintech space and look forward to supporting start-ups to reach their full potential and giving investors the opportunity to participate in their success.”

Alexander Christen said,

“Going independent is a major step for FiveT Fintech and we are very happy to further contribute to Avaloq’s ecosystem strategy.

 

As the capital flows into the global fintech sector are reaching new highs, our fund is uniquely positioned to identify the most promising start-ups and accelerate the digitalization of the financial industry.”

Featured image: edited from Unsplash