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KPMG Enters Venture Capital World to Tap Big Data Trend

by

November 21, 2013

Hoping to be able to capture the next big technology-driven disruption in banking and finance, some banks, credit card companies, and even consulting companies are allocating 100s of millions to venture capital direct investing. This kind of corporate venturing used to be the territory of high tech companies and life science companies, but now even consultancies like KPMG is getting into the venture game.

 

KPMG Capital launched last week with the aims to “accelerate innovation in data and analytics (D&A) that will help clients of member firms unlock tangible value from their data”. KPMG is betting big on big data, some  USD 100 million will be invested.

 

It is not based on the idea that the digital realm is redefining how banking will be done, according to Global Corporate Venturing magazine in a reports that looks at other recent entrants, such as Citi Ventures and American Express Ventures.

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