CBInsights recently published its report on financial services corporate venture capital (CVC) activity. Globally, financial services CVC groups participated in $7.4 billion of funding in 2018 in 315 deals, with 2019 activity increasing to 368 deals and approximately $9.6 billion. Much of the growth has been in late-stage deals, which are Series D and later rounds. Citi Ventures, Mitsui Sumitomo and Ping An Ventures are among the most active investors. Bank deal share increased in 2019. While US companies still dominate investment activity, Japanese activity is on the rise. Ten unicorns (Tradeshift; Symphony; Plaid; Next Insurance; C2FO; Chime, Turo; Fair; Lemonade; and Marqeta) are backed by two or more financial services CVCs. Insurance CVC activity declined in 2019, while bank and payments CVC activity rose.
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