The bank said it recently doubled its capital committed to VC, and is investing in U.S. growth-equity funds focused on later-stage investments in the tech and life-sciences sectors. (The Logic)
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The bank said it recently doubled its capital committed to VC, and is investing in U.S. growth-equity funds focused on later-stage investments in the tech and life-sciences sectors. (The Logic)
Talking point: CIBC has been expanding its footprint in tech. It announced last month that it was opening a London office for CIBC Innovation Banking, its 12th office since launching the tech-banking vertical in 2018. The new investments in growth and VC funds also follow similar investments into 12 Canadian funds over the last three years. The country’s big banks have increased their investments in tech in recent months, in an effort to keep pace with innovation in the sector. National Bank, for example, recently agreed to acquire Flinks, a financial-data provider. Meanwhile, in June, RBC launched a specialized tech-banking platform called RBCx to attract more tech companies as clients.
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