Motive Partners has taken a $100m stake in Electric Mind (henceforth "EM") described as a "a high-growth, AI-led services firm grounded in engineering excellence".
"EM"'s former name was Intelliware, and Electric Mind is a "rebranding for the age of AI", with a go-forward focus on growth in wealth and alternative investments.
The plan is to have a close collaboration, with leaders of both firms joining the company's Board.
Richard Lumb, Motive Industry Partner, will join the Board (former Group CEO of Financial Services at Accenture) as will Sreeram Visvanathan, Head of Motive Create (innovation and value creation engine within Motive Partners) and former CEO of IBM UK and Ireland.
To scale impact across financial services, the Investor-Operator-Innovator (IOI) model of Motive will be brought to bear bringing expertise, connectivity and operational support.
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