Poland-based Alior Bank SA plans to use its venture capital fund to invest in 12 technological companies from the insurance and wider financial sector by 2022, news agency PAP reported Jan. 17.

The lender's deputy head Marcin Jaszczuk told the newswire Alior wants to make around three to four of such investments per year, and the value of each transaction will amount to between 3 million zlotys and 6 million zlotys. The bank will look for companies at an early stage of development that offer interesting solutions for the retail segment, corporate clients and also enable optimization of operational activities at the bank, he said.

The bank plans to purchase only minority holdings in such companies and will continue to focus on organic development under its new, 2022 strategy, although it does not rule out potential acquisitions, Jaszczuk was cited as saying. The details of the 2022 strategy will be announced at the end of January, PAP noted.