The acquisition will form the basis of 7Ridge’s recently-closed Ecosystem Impact Fund II.
7Ridge, a specialist investor focused on financial markets infrastructure and technology, said on Tuesday it had acquired the fintech investment portfolio of Fidelity International Strategic Ventures (FISV), the venture arm backed by Fidelity Investments, alongside the unit’s investment team.
The deal is the latest example of a growing trend in which established corporate venture capital teams are being spun out or acquired wholesale rather than wound down. Earlier this year, JetBlue Ventures was acquired by Sky Leasing-backed SkyVC, while Boeing’s accelerator and investment group, Aerospace Xelerated was acquired by investment group The Fifty Group.
FISV’s portfolio — built over more than seven years — includes investments spanning wealth management, retirement technology, asset management and capital markets infrastructure. The FISV team, including managing partner Alokik Advani (pictured, above), Michael Sim, James Devlin and Tom Judge, will join 7RIDGE as part of the deal.
Financial terms were not disclosed.
The transaction will form the basis of 7Ridge’s new Ecosystem Impact Fund II, which closed concurrently with the acquisition.
The shift reflects growing pressure on large corporations to demonstrate clearer returns from venture investing after years of strategic experimentation. Rather than shutting funds outright, some companies are opting to transfer portfolios and specialist teams to external investors better positioned to manage long-duration venture assets.
For buyers, the attraction is access to curated portfolios, institutional relationships and experienced investors with deep sector expertise.
“The combination of 7RIDGE’s specialist expertise and the incoming FISV team gives us high conviction in the portfolio, which sits at a key inflection point in financial markets infrastructure,” said Kevin Dunwoodie, partner at Pantheon.
The transaction also highlights the growing sophistication of the secondary market for venture assets, as firms such as Coller Capital increasingly structure liquidity solutions for corporate investors seeking flexibility around private market holdings.
“The secondaries market continues to evolve as a vital source of liquidity and strategic solutions for the private markets,” said Hani El Khoury, partner at Coller Capital.
See all the recent deals by FISV in the CVC Funding Round Database
Maija Palmer
Maija Palmer is editor of Global Venturing and puts together the weekly email newsletter (sign up here for free).
