Motive Partners has agreed to acquire Berlin-based venture capital firm embedded/capital GmbH to chase opportunities in Europe’s growing startup scene.
(Bloomberg) — Motive Partners has agreed to acquire Berlin-based venture capital firm embedded/capital GmbH to chase opportunities in Europe’s growing startup scene.
The fintech-focused private equity firm announced the deal in a statement on Tuesday that confirmed a Bloomberg News report. Financial details were not disclosed.
Embedded/capital specializes in investing in financial technology startups and has backed the likes of B2B payments firm Hero and broking platform getquin.
“Now valuations are coming down so it’s a good time to deploy capital,” Ramin Niroumand, embedded/capital’s founder, said in an interview. “Financial technology is what we understand. We see specialists being better equipped in today’s market.”
Germany is trying to make the country a more attractive location for tech innovators. Earlier this year, its government announced plans for a new €30 billion ($31 billion) fund to support technology-oriented startups.
Led by Managing Partner Rob Heyvaert and Chairman Jeff Yabuki, Motive manages about $4.8 billion and invests across technology enabled financial and business services in North America and Europe. Former JPMorgan Chase & Co. executive Blythe Masters is a founding partner of the firm.
“This acquisition not only adds depth and capability to our team, but provides critical strategic benefits to the rest of the firm, including innovation insights and learning, attracting top talent and enhanced sourcing networks,” Masters said in Tuesday’s statement.
(Adds detail on Motive leaders in sixth parargraph.)
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