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by hughw
3682 days ago
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From a 2014 WSJ article [1] : "Spanish banking giant Santander in July announced a $100 million venture capital fund to invest in fintech start-ups globally, and a few months ago HSBC allocated up to $200 million for investment in early-stage tech companies with the aim of improving its technology." [1] http://blogs.wsj.com/digits/2014/08/04/banks-lure-fintech-st... |
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Banks invest in VC the same way that auto manufacturers do: to suss out potential innovations and/or to have inside access to future disrupters. They don't do it for the returns.