ABN Amro Combines Venture Arm With Motive Partners’ Platform

ABN Amro Bank NV is combining its venture operation with an arm of private equity firm Motive Partners in a deal that could drive further consolidation in the industry.

Motive’s venture unit will take over 15 early stage investments from ABN and the bank will become a “significant investor” in Motive-managed funds, according to a statement reviewed by Bloomberg News. Under the agreement, Motive Ventures will manage €150 million ($157 million) in assets under management from the ABN Amro Ventures Fund, the statement shows. Those assets will remain on the bank’s balance sheet.

ABN’s venture business places bets on startups ...