Investment

Allianz X Grows Digital Investment Fund Size to $1.1 Billion

Allianz X, a digital funding fund owned by the Allianz Group, introduced on Wednesday that it has acquired extra funding from Allianz SE. Also a subsidiary of the Allianz Group, Allianz SE is an asset supervisor and insurer based mostly in Germany.

“We are very happy with the progress Allianz X has made to date and are dedicated to additional make investments and develop the subsequent technology of digital development firms associated to Allianz’s core enterprise,” mentioned Iván de la Sota, Chief Business Transformation Officer of Allianz SE. “Our digitalization strategy is multifaceted; Allianz X is a useful addition – not solely in assembly the altering expectations of our prospects.”

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The enhance in funding implies that Allianz X now has 1 billion euros ($1.13 billion) to take a position, making the corporate one of many largest digital-only enterprise capital funds in Europe.

Focus on insurance coverage and asset administration

In maintaining with Allianz SE’s actions, the fund has centered its funding efforts on the insurance coverage and asset administration sectors.

For occasion, in December of 2017, Allianz X introduced that it was investing slightly below $100 million in BIMA. Based in Stockholm, the corporate supplies microloans to purchasers in Africa, Asia and Latin America.

Allianz X additionally invested $30 million in working capital market C2FO and, extra unusually given its relationship with Allianz SE, $35 million within the Indonesia ride-hailing and logistics software Go-Jek.

On high of handing money over to these firms, the enterprise capital fund is ready to set up partnerships between them and different Allianz companies.

For instance, Go-Jek has a partnership in place with Allianz Indonesia wherein the applying’s prospects and drivers are provided Allianz insurance coverage services and products.

“Since shifting our technique, we now have constructed an awesome portfolio wherein many firms have already developed profitable partnerships with Allianz’s enterprise models,” says Dr. Nazim Cetin, CEO of Allianz X. “We are very enthusiastic about elevating our funding finances to €1 billion and can use the funds entrusted to us to each strengthen our portfolio and construct sturdy, international platforms that create new companies for Allianz.

 

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David

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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