Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A $692B-AUM AM Incubates Fintech Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 15, 2019

A $692B-AUM AM Incubates Fintech

Reported by Neil Anderson, Managing Editor

A publicly traded mutual fund giant's team is partnering up with an ally to startups and bringing that venture-capital-esque partnership to Silicon Valley. And they're on the hunt for deals, too.

Jennifer M. Johnson
Franklin Resources, Inc.
President, Chief Operating Officer
Today is the grand opening celebration of a new "fintech incubator" at Franklin Templeton's [profile] headquarters in San Mateo, California, Franklin's Joe Boerio confirms. Franklin Templeton is the founding sponsor of the incubator, an expansion of La Jolla-based EvoNexus, confirms EvoNexus' co-founder and CEO, Rory Moore.

Meanwhile, Jenny Johnson, president and chief operating officer of Franklin, tells Bloomberg that she is interested in acquisitions that boost the fund firm's distribution, geographic reach, or product lines.

Boerio, chief technology officer, investment management data science, fintech & rapid development at Franklin, describes the EvoNexus partnership as "an exciting opportunity for Franklin Templeton."

"Alongside EvoNexus, we will be working closely with promising startups in our new purpose-built Fintech incubator facility," Boerio states. "We will be well positioned to leverage the best Fintech product and services to improve business outcomes and drive growth. The incubator will be a great source of technology building blocks that will enable and accelerate our efforts in becoming the investment firm of the future."

Moore describes the partnership as "the fulfillment of a shared vision."

"I am optimistic that our collaboration with Franklin Templeton and other supporting sponsors will repeat the success that we have achieved in Southern California," Moore states. EvoNexus already has locations in La Jolla (outside San Diego) and Irvine (in Orange County).

The incubator will invest $150,000 in each startup that enters, in return for one percent in equity and a two-year residency.

As of September 30, Franklin had more than $692 billion in AUM. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use