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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Funds > Markets and Industry News

Allianz X increases Fund size to €1bn

Anna Lyudvig
March 16, 2019, 2:03 p.m.

Word count: 351

Allianz X, the digital investment unit of the Allianz Group, has received additional investment from Allianz SE, increasing its fund size to €1bn. 

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Allianz X, the digital investment unit of the Allianz Group, has received additional investment from Allianz SE, increasing its fund size to €1bn. 

The increase is the result of Allianz X’s investment track record, successful collaborations with growth companies as well as the contribution towards the Group’s overall digital transformation strategy. 

The funds will be used to make additional direct investments in digital companies globally that are strategically relevant for the Allianz Group. 

Allianz X becomes one of the largest European firms dedicated to digital investment by fund size.

To date, Allianz X has made more than 15 direct investments in digital businesses related to insurance around the world. 

Notably, Allianz X invested $96.6m in microinsurer BIMA that utilizes mobile technology to serve low-income customers in Africa, Asia and Latin America. 

“We are very pleased with the progress Allianz X has made thus far and are committed to further invest and develop the next generation of digital growth companies related to Allianz’s core business,” said Iván de la Sota, Chief Business Transformation Officer of Allianz SE. 

“Our digitalization approach is multifaceted; Allianz X is a valuable addition — not only in meeting the changing expectations of our customers.”

In addition to committing capital to promising tech companies, Allianz X focuses on developing strategic partnerships between the portfolio company and one or more Allianz operating entities or global business lines, leveraging expertise on both sides. 

For example, Allianz Ghana issued a product in which BIMA’s customers receive digital insurance offerings underwritten by Allianz. 

Each investment has a dedicated team that assists the company with joint corporate development initiatives and implements them alongside the Allianz business unit(s).
“Since shifting our strategy, we have built a great portfolio in which many companies have already developed successful partnerships with Allianz’s business units,” said Nazim Cetin, CEO of Allianz X. 

“We are very excited about raising our investment budget to €1bn and will use the funds entrusted to us to both strengthen our portfolio and build strong, global platforms that create new businesses for Allianz,” he said.

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