GERMANY - Giant German insurer Allianz has expanded its commitment to private equity with the launch of a new corporate venture capital company.
Allianz Venture Partners (AVP) is the third private equity company within Allianz. The unit complements Allianz Capital Partners, which refocused into active in buy-outs as well as growth and mezzanine financing, and Allianz Private Equity Partners (APEP), which operates as a fund of funds.
AVP focuses its investments on new business ideas in the financial services sector, as well as on technologies relevant to financial service providers. The companies targeted for investment must be in strong growth phases of their development.
By Madhu Kalia
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