Bankinter has launched a fund of funds strategy investing in disruptive technology companies from Silicon Valley for its private banking clients.
MVB Fund will invest in venture capital funds that are present in the shareholding of these "disruptive" companies which have high growth potential.
The Spanish bank has teamed up with the Argentine/Spanish new technologies investor and entrepreneur Martin Varsavsky, who will be contributing to the detection of investment opportunities for the investment vehicle.
Kanoar Ventures, the Spanish risk capital firm in charge of the K Fund, will be managing the new fund, which will have a minimum entry amount of €100,000 and a percentage limit on the liquid assets available for investment to each client.
The fund, whose size has been set up at around €200m, aims at offering investors access to a "niche market in which few investors can enter, such as technology companies with great potential that are on their way to becoming the Uber, Facebook, Netflix or Amazon of the near future," said Bankinter in a statement.
These companies are normally set up as start-ups and then become unicorns (companies valued at more than $1bn).