ABN Amro to support PrimaryBid's EU expansion
The corporate venture fund of Dutch group ABN Amro, ABN Amro Ventures, has invested in PrimaryBid, a technology platform enabling retail investors to participate in public equity offerings on the same terms as institutional investors.
PrimaryBid launched its digital platform in the United Kingdom, where it enabled retail investors to take part to several high-profile FTSE capital raises in 2020. The company is currently seeking expansion into the eurozone, where it has a partnership with Euronext, including the Netherlands. The Dutch group will help PrimaryBid's expansion in the Benelux and the EU.
Anand Sambasivan, CEO of PrimaryBid, commented: “We are delighted to be able to include ABN AMRO in this fundraise and look forward to working closely with its team as we expand into Europe. Our simple, inclusive technology allows corporate issuers to access the widest possible set of investors, improving capital formation and putting the public back into public markets.”
Hugo Bongers, director of ABN Amro Ventures, added: “Our investment in PrimaryBid is a good fit with our portfolio and provides access to unique innovation within established and institutional domain of the equity capital markets. We believe in democratising the capital markets; PrimaryBid can play a leading role here, in Europe and beyond.”