Standard Chartered and venture capital have not been the best of friends in recent years. The bank has spent more than three years exiting its loss-making private equity arm, a process that is still grinding along now.
What to make, then, of SC Ventures, the new business unit launched out of Singapore in January?
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Alex Manson, |
Alex Manson, the former global head of transaction banking who heads the business, tells Euromoney that SC Ventures has quite different priorities to Standard Chartered’s previous private equity ambitions and in fact only one of the three lines of the new business is about venture capital.
“Our internal mission statement talks about rewiring the DNA in banking,” Manson says.
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