LONDON, July 28, 2021 /PRNewswire/ -- Leading UK venture capital firm Fortunis Capital is launching a major drive to invest in wealth management businesses.
In an innovative strategic move for the business, London-based Fortunis is seeing to quickly notch up investments in ambitious wealth managers and is currently closing the first set of deals with a combined £500 million in assets under management.
It said it is seeking 'best in class' wealth management businesses throughout the UK to invest in and aims to have completed its first investment deals by the third quarter of the year.
The new business stream will see Fortunis making high quality emerging tech available to streamline wealth managers' systems and enable efficiencies, benefitting both the investee firm and its clients.
Fortunis has already begun talking to a number of wealth managers about prospective investment deals and is seeking out other ambitious wealth managers throughout the UK who are building assets under management.
The new drive is a completely separate strand of the business from the Fortunis venture capital investments.
Justin MacRae, Chief Operations Officer, said: "What we are proposing is unlike anything else currently in the UK marketplace. It will give the wealth management businesses access to technology that they can use to transform the services that they offer their clients.
"It also means that an investee wealth management firm will be able to offer venture capital investment to some of its clients.
"We are already in advanced talks with some prospective businesses, but we are seeking other firms that already have significant assets under management and are ambitious to go much further."
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