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Summary List Placement

As Citi Ventures celebrates its 10-year anniversary, Insider sat down with Arvind Purushotham, its global head, to discuss how the investing team is looking to compete in the increasingly competitive private markets.

This year is set to be Citi Venture’s most active in its history, Purushotham said. The group, which is the venture investing arm of Citigroup, is also adapting its strategy to look at a broader set of companies that can be integrated within Citigroup’s many lines of business. 

Purushotham laid out three areas that he says are primed for significant growth and that align with Citi’s strategic ambitions as a global bank.

Property tech

Citi Ventures solidified proptech as a vertical investment area at the end of 2019, just as the housing market was set to boom with the onset of low interest rates brought on by the pandemic. 

Citigroup, for its part, has a two-pronged mortgage business that straddles consumers and the institutional market through securitizations and commercial real estate. The bank’s CEO, Jane Fraser, once headed CitiMortgage.

Home loan originations at Citi grew from $4.1 billion in the first quarter of 2020 to $6.6 billion by year end.

So far, Citi Ventures has invested in six proptech startups, like …read more

Source:: Businessinsider – Finance


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