Thomson Family's Investment Firm Sets Eyes on New York's Fintech Expansion

A leading investment firm tied to the billionaire family behind the Thomson Reuters Corporation is actively seeking investment opportunities in New York City, with a keen focus on the financial technology (fintech) sector. The firm represents one member of the family, which is considered the 10th-richest globally, according to wealth rankings.

Strategic Investments in Financial Technology

Thomvest Ventures, the venture capital firm owned by Peter Thomson, is in the process of finalizing two early-stage investments in New York-based fintech companies. These investments are part of a broader strategy to engage in more deal-making activity in the region throughout the year. This follows close behind four other fintech investments the firm has recently undertaken in New York.

Managing a Multibillion-Dollar Fortune

Don Butler, the managing director of Thomvest, is responsible for overseeing a portion of Peter Thomson's wealth, which is estimated at about $10.8 billion. As an extension of the Canadian Thomson family's far-reaching financial legacy, Thomvest has been a major player in Silicon Valley's investment scene. The firm has backed more than 80 companies across various fields since its inception in 1996.

Enduring Economic Cycles

The company has navigated through multiple economic cycles, including the recent impact of SVB Financial Group's breakdown which affected several U.S. companies in its portfolio. Despite these challenges, Thomvest recently launched a new $250 million fund, signaling confidence in the ability to foster great companies during tough macroeconomic climates.

Promoting Growth Amidst New Conditions

Amid the pandemic, Thomvest has heightened its investment activity in New York's tech companies. This includes ventures like the codeless platform Unqork and financial-documentation provider Ocrolus. Ventures in Canada, like artificial intelligence firm Cohere, have also been part of the investment pivot. Butler highlights New York's stringent regulatory environment for fintech companies as a source of investor confidence due to the high standards required for operation.

Investment, Fintech, Thomson