SIX launches CHF 50 million venture capital fund
Written by Chris Lemmon
Swiss financial infrastructure provider SIX is establishing a CHF 50 million (€43 million) venture fund to promote innovation within Switzerland’s financial services sector.
SIX is already active in the FinTech space with incubator and accelerator programme F10, while the firm also has a number of partnerships with FinTech startups such as Veezoo and Payrexx.
The new fund forms part of SIX’s organisational restructuring as it focuses its strategy and simplifies its business. As part of a strategy and organisation review, the board of directors has, since the beginning of the year, been analysing the changing requirements that banks and the market are placing on SIX.
Other elements of the realignment include the consolidation of all activities in the securities business, the reorganisation of the payments business, the separation of the card business and the strengthening of the data business market position of SIX. These measures are due to be fully implemented in the second quarter of 2018.
Romeo Lacher, chairman of the board of directors, commented: “SIX has developed very successfully since its inception. What we are doing now is setting the course for SIX to continue to play a major part in assuring the quality and success of the Swiss financial centre.”