Our Portfolio Company LIQID Announces €30 Million “Series C” Round
DvH Ventures portfolio company among the ten largest financing rounds in Germany in 2018.
LIQID, one of the largest and fastest-growing digital wealth managers in Europe, today announces a €30 million “Series C” financing round led by Toscafund Asset Management LLP, the London-based multi-asset alternative investment management firm with over $4 billion of assets under management.
Following the transaction, Toscafund, through Tosca Private Investments Fund (“TPIF”), a new specialist vehicle targeting small/mid-market private equity opportunities in the European financial services sector, will become a significant minority shareholder in the Berlin-based disrupter. The transaction – subject to customary regulatory approvals – will be TPIF’s first investment in Germany. It ranks among the most substantial funding rounds in the country’s dynamic fintech space.
Established in 2016, LIQID sets out to level the playing field for affluent private investors from €100,000. The company provides a digital alternative to traditional private banks, offering discretionary wealth management and access to alternative investment opportunities in partnership with HQ Trust, the multi-family office of the Harald Quandt family. In less than two years, LIQID has been entrusted with close to €300 million in client assets.
“Along with our clients, our investors have been crucial in helping us build LIQID so far, and we are pleased to have found such a strong and internationally experienced partner in TPIF”, Christian Schneider-Sickert, CEO and co-founder of LIQID, said today. “With active help from TPIF, we look forward to expanding both our technology platform and the range of services offered in Germany and beyond.”
“We are delighted to join the existing shareholders of LIQID, and to support the team with our capital and specialist expertise in European financial services. Building on Toscafund’s longstanding track-record in providing growth capital to successful entrepreneurs, this transaction provides an excellent fit with TPIF’s objective of supporting companies benefiting from the rapid technological change fundamentally disrupting the financial services sector”
“We believe there are strong growth prospects in wealth management catering to affluent clients across Europe. LIQID’s award-winning-offer has clearly differentiated itself by meeting the needs of affluent clients with a combination of technology, a unique product proposition and human expertise”, adds George Koulouris, Partner at Toscafund. “The business model is highly scalable and has great potential for the entire European market”.
LIQID was advised by N.M. Rothschild. TPIF was advised by Herax Partners.
LIQID is an independent digital wealth manager that offers its clients access to investment strategies, asset classes and terms that were previously the preserve of high-net-worth individuals.
The Berlin-based company works in close partnership with the investment team of HQ Trust, the multi-family office of the Harald Quandt family. Through a intuitive digital platform, LIQID has transformed wealth management into a user-friendly and transparent contemporary experience.
The company provides a choice of discretionary investing styles, tailored to client needs and following a long-term investment philosophy proven across several market cycles: LIQID Global is a diversified passive strategy implemented with ETFs, while LIQID Global Impact is based on stringent environmental, social and governance (ESG) criteria. LIQID Select is an active strategy managed by the HQ Trust investment committee. In addition, LIQID provides clients with cost-effective access to top-quartile private equity funds through co-investments with HQ Trust’s clients.
Since its launch in late 2016, LIQID has received numerous industry accolades. In 2017, it was voted best late-stage FinTech at the FinTech Germany Awards. The company’s investment strategies were ranked ‘outstanding’ by Firstfive, an independent institute assessing wealth manager and private bank performance, in both 2016 and 2017. In 2018, LIQID was named ‘Innovator of the Year’ by the business magazine brandeins and the data service Statista. It also took first place in Capital magazine’s robo advisor test and received the German Brand Award for industry excellence in branding in banking and financial services.
LIQID is led by an internationally experienced management team and backed by investors including Project A Ventures, HQ Trust and Dieter von Holtzbrinck Ventures.
About Toscafund Asset Management
Toscafund Asset Management LLP is a London-based multi-asset alternative investment management firm with over $4.0bn of assets under management. The firm was founded in 2000 by Martin Hughes and has firmly established itself as one of Europe’s leading investors in the financial services sector across both public and private markets. Alongside Tosca, the global financials fund, the firm’s other funds include activist equities, UK small-cap equities, private credit, and commercial property.
Toscafund has a long track record of supporting management teams and providing growth capital to private companies. Notable private investments in financial services companies include Aldermore Bank, Hoist, Atom Bank, OakNorth and Esure.
TPIF, Toscafund’s latest initiative, will target investments in private small/mid-market European Financial and Business Services companies. TPIF is led by Fabrizio Cesario and George Koulouris, who joined Toscafund as partners in 2017, adding to the Firm’s substantial experience and track record in European financial services and private equity investments. The investment into LIQID marks the second investment of TPIF following the announced investment in Plurimi Wealth