Michael Bloomberg Indirectly Backs Some of Germany’s Most Important Fintech Startups [BLOG]
- Jörn Menninger
- Jan 22, 2021
- 4 min read
Updated: Mar 26
Discover how Michael Bloomberg invests and his secretive involvement with top German fintech through Hedosophia.
What Is This About?
Michael Bloomberg indirectly backs some of Germany's most important fintech startups through his involvement with Hedosophia. This investigative article reveals the billionaire's secretive connections to the DACH fintech ecosystem and how his investment vehicle has quietly shaped the European financial technology landscape.
This story was migrated from our old blog, originally published on January 22th, 2021.
Discover how Michael Bloomberg invests and his secretive involvement with top German fintech through Hedosophia. Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.
This article is part of our coverage of FinTech Startups in Germany, Austria, and Switzerland.
Executive Summary
How Michael Bloomberg Invests
Hedosophia from London (http://hedosophia.com/) has been one of the most important investors in the German fintech scene. Their investments are amongst the biggest names in German fintech, including (but are not limited to) an investment in banking startup N26 from Berlin, Vienna based Bitpanda, Scalable Capital Germany’s largest independent Robo-Advisor from Munich, Berlin-based insurtech startup WeFox, and Berlin-based B2B invoicing /payments platform Billie, just to name a few from Germany. Their international investments include Hongkong-based Airwallex (interview with its co-founder Lucy Lui below), and Shanghai-based NYSE-listed wealth manager Lu.com.
Find our interview with Lucy from Airwallex here:
Founded in 2012 in London, the VC normally invests 10–30 mn US$ in series B rounds and later (notably in US-based insurtech Oscar, micro/robo-investor Acorns, or Stash a personal finance app for investing). According to SEC Filings they manage approx. 1 bn US$ in equity investments.
The CEO of Hedosophia is Ian Osborne, known to be a secretive man. He is so secretive in fact that FT’s Sifted wrote an article on this (here). Not surprisingly, therefore, is it that until recently it was yet unknown who was backing Hedosophia. Now German fintech blog FinanceFwd revealed that New York-based billionaire Micheal R. Bloomberg be one of the investors of the fund.
Michael Bloomberg should ring a bell as the founder and owner of Bloomberg L.P., an important company in global capital markets, especially with their information terminals and trading networks. He has also been mayor of New York City (2001, with re-lections until 2013). He also ran for the Democratic presidential nomination but lost to Joe Biden. He was ranked by Forbes in 2020 as the sixteenth richest person in the world. Forbes estimated his net worth to be 48 bn US$ (39.6 bn Euros, 35.25 bn GBP) as of April 2020. As wealthy individuals are spreading their holdings across asset classes and geographies it should not surprise that Mr. Bloomberg also invests in startups.
We could not find any investment of Mr. Bloomberg in Frankfurt. Maybe it would be worth his time after corona?
You can find additional information and material on Hedosophia here:
Bloomberg: New SPAC with Hedeosophia involvement https://www.bloomberg.com/news/articles/2020-09-15/social-capital-seeks-to-raise-500-million-for-latest-spac
Key Takeaways
Founded in 2012 in London, the VC normally invests 10–30 mn US$ in series B rounds and later (notably in US-based insurtech Oscar, micro/robo-investor Acorns, or Stash a personal f
This article covers a significant development in the DACH startup and venture capital ecosystem.
The DACH region (Germany, Austria, Switzerland) continues to be one of Europe's most dynamic startup markets.
Atomic Answer
Quote Highlights
Michael Bloomberg indirectly backs some of Germany's most important fintech startups through his involvement with Hedosophia.
Hedosophia, founded in 2012 in London, normally invests between 10 and 30 million in growth-stage technology companies.
Bloomberg's secretive connections to the DACH fintech ecosystem reveal how his investment vehicle has quietly shaped the European financial technology landscape.
This investigative piece uncovers the billionaire's indirect role in funding key German fintech players through a network of venture capital connections.
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Frequently Asked Questions
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Discover how Michael Bloomberg invests and his secretive involvement with top German fintech through Hedosophia.
How does this affect the German startup ecosystem?
Michael Bloomberg should ring a bell as the founder and owner of Bloomberg L.P., an important company in global capital markets, especially with their information terminals and trading networks.
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Startuprad.io tracks venture capital and startup funding across Germany, Austria, and Switzerland. Explore our pillar coverage pages for the latest data.
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Joern Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.
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