Jay Reinemann of Propel Venture Partners Joins Speakers
September 21, 2016
Jay Reinemann, partner at Propel Ventures, has joined the speaker faculty for Bank Innovation Israel. Propel, formerly known as BBVA Ventures, was spun off from the global bank earlier this year. In the process, the fund grew from $100 million to $250 million, and gained greater freedom to invest earlier in rounds. BBVA is still supportive of the venture, but, in essence, got out of its way. “Captive bank funds have less freedom, less speed, and even a perceived conflict of interest when it comes to investing in early-stage companies," Reinemann told Bank Innovation in February. "The bank will get more strategic value from this fund.” Propel is seeking “tech companies focused on financial services, or financial companies leveraging technology," Reinemann said. In other words, the venture is pursuing slightly more than just “fintech.” Propel's portfolio includes the identity management company Civic, and Brave Software, which aims to speed up internet browsing speed and safety. Reinemann will join other investors and innovators in a panel discussion on investing in innovation on Nov. 2 in Tel Aviv. Register here.