Nasdaq has launched a dedicated venture investment unit to identify and collaborate on new technologies with fintech companies worldwide.
Nasdaq's investment programme began unofficially in late-2015 with the exchange operator taking stakes in blockchain infrastructure provider Chain.com, machine intelligence company Digital Reasoning and real-time risk analytics firm Hanweck.
Adena Friedman, president and CEO, Nasdaq says the newly formalised division will seek to weed out other companies with disruptive technologies that can be harnessed for the long-term benefit of its client base.
"Investing in pioneering fintech firms, who are developing unique technologies, continues our history of being a platform and partner of choice for the most innovative companies in the world," she says. "In addition, through this programme we plan to accelerate the pace of innovation to ensure our clients continue to benefit from the technologies that are reshaping the capital markets."
Nasdaq Ventures will be led by Morgan Stanley's Gary Offner who has a 20-year track record in private equity, venture capital and strategic direct investment experience with an emphasis on minority growth capital investments in technology companies.
The minority stake investments made by Nasdaq Ventures are expected to range from less than $1M to approximately $10M and will include seed to late-stage venture rounds.
Areas of initial focus will include: digital transfer/blockchain; machine learning and artificial intelligence; emerging and frontier marketplaces; and next generation data, analytics and content aggregation.