Barclays Launches Tech-Focused Venture Arm to Foster Innovation
Barclays Bank today launched a new venture arm to focus on investing in technology.
This unit labelled Barclays UK Ventures (BUKV) will allow the bank to invest and partner with technology companies that will spur the bank’s technological innovation and growth. It will be led by the bank’s former group head of strategy: Ben Davey.
Ashok Vaswani, CEO of Barclays UK, said in a statement today:
We are a growth business and Ben’s appointment will put real weight behind this new unit to provide new lines of revenue growth in addition to the organic growth of our core business.
Details of the capital allotted to BUKV were not disclosed.
