Google Ventures is investing in the MFS investment management company MFS Investments.
Google Ventures said in a statement that the deal is valued at approximately $200 million, and that the investment in the company is expected to close in the second half of 2017.
“This is a great acquisition for Google Ventures as we look to expand our investment into the financial services space and expand our network of high-growth, long-term investors,” Google Ventures CFO Jitendra Narang said.
“Google Ventures is a leader in the global investment space and we look forward to partnering with the Mfs investment team to continue delivering strong results in the financial markets.”
MFS has been active in the investment industry for years, including investing in many high-profile technology companies such as Uber and Airbnb.
Its focus has been on the digital payments space, and MFS invests in more than 90% of the $8 billion market for blockchain companies.
The deal is Google Ventures first with MFS investments.
“MFS Investments has grown over the past few years to become one of the world’s largest blockchain companies,” MFS founder and CEO Jitendram Suranwal said.
MFS said it plans to expand its presence into other areas such as digital assets and digital currencies.
The MFS company has over 1,000 employees and is based in the United Kingdom.
“We are delighted to be working with Google Ventures on this exciting opportunity to help us to accelerate our growth and build our brand as a leading investment leader in financial services,” Mfs chief operating officer David Deutsch said in the statement.