Mouro Capital will manage the existing portfolio of Santander Innoventures
Banco Santander has announced the launch of Mouro Capital, a new, autonomously managed venture capital fund. It is focused on fintechs and adjacent businesses linked with the financial services industry.
Mouro Capital will have $400 million in allocated funds after the bank doubled its current commitment.
The decision to spin out its investment came out to accelerate Santander’s digital and commercial transformation. That would maintain its operational productivity whilst improving the customer experience.
The fund will keep deploying capital across Europe and the Americas. It will primarily lead investment rounds with initial investments of up to $15 million and further follow-on reserves.
We’ve reported that Banco Santander Chile has launched its new digital debit card. It’s available to all of the clients with a debit card linked to their current Cuenta Life account, simple debit account, or e-checkbook. The university accounts are included as well.