The venture capital subsidiary CommerzVentures was founded in 2014 by ex-boss Martin Blessing and has brought its parent company profits of several hundred million euros in recent years.
(Photo: dpa)
Frankfurt Anyone who invests in start-ups needs good nerves. When an investor referred him to the American company Marqeta in 2015, CommerzVentures co-boss Stefan Tirtey wrestled with himself for a long time. At the time, it was extremely uncertain whether the payment service provider would be successful. After many sleepless nights, Tirtey and his colleagues decide “to take a risk and invest in Marqeta”.
This courage paid off. Marqeta did well and was valued at $ 16 billion when it went public earlier this summer. CommerzVentures also benefited from this thanks to its stake in the low single-digit percentage range.
The venture capital subsidiary with just eleven employees has brought its parent company profits of several hundred million euros in recent years. This makes it the most successful division of Germany’s second largest private bank, which is currently being fundamentally restructured and will cut 10,000 jobs.
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