JP Morgan will this year plough $1 billion into its new incubator for e-finance businesses - LabMorgan. Euromoney's Peter Lee reports.
The E150m fund will invest in unquoted European telco and Internet companies.
The group’s global technical and professional directors are buying the company.
Brainspark and Royal & Sun Alliance’s Global Ventures unit have formed a strategic relationship in order to explore ‘innovative new business models in the field of technology and financial services.’
The fund will focus on investments in Poland, Hungary and other Central European countries.
A final closing of the fund is expected to take place next year.
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