Transamerica Ventures, the new corporate venturing unit of Netherlands-based insurer Aegon, made the decision to base itself in New York, reflecting that city’s status as a dominant force in financial services.

Georg Schwegler, who joined Aegon to head Transamerica Ventures last year, said: “There is a lot of money coming from New York-based investors into the fintech seed stage, so it makes sense to be here.” He said Transamerica Ventures was investing €100m and had done five deals so far.