7Ridge acquires Fidelity Investments corporate venture arm
The portfolio of wealth-management, retirement-tech and capital-markets-infrastructure stakes, including DriveWealth and Moneybox, anchors 7Ridge’s concurrently closed Ecosystem Impact Fund II.
Takeaways
- Fidelity Investments corporate venture arm is a professional trading software, infrastructure and data solutions provider.
- 7Ridge is acquiring Fidelity Investments corporate venture arm.
- The business serves financial institutions and professional traders.
A specialized growth-equity firm has acquired a corporate venture portfolio to seed its newest fund.
7Ridge has bought Fidelity International Strategic Ventures, the corporate venture arm of Fidelity Investments, taking ownership of a curated set of later-stage fintech and capital-markets infrastructure holdings that will serve as the cornerstone of Ecosystem Impact Fund II.
The unit backed companies operating in wealth management, retirement technology, asset management and exchanges infrastructure.
Its known stakes include fractional-shares brokerage platform DriveWealth, UK saving and investment app Moneybox, auto-enrolment pension provider Smart Pension, SaaS management platform Zylo, and alternative-asset data and analytics firm 73 Strings.
The firm closed Ecosystem Impact Fund II concurrently with the acquisition, using the Fidelity portfolio to anchor the new vehicle and pursue further investments across the financial-technology landscape.
Fidelity International Strategic Ventures was established to invest in startups reshaping the financial services value chain.
The sale to 7Ridge crystallizes a concentrated exit for Fidelity and hands the buyer a ready-made platform around which to build its latest fund strategy.
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