Nordic Capital Welcomes Mohit Agnihotri as New Partner in Fintech Investments
Nordic Capital has appointed Mohit Agnihotri, a seasoned expert in technology and payments, as a partner at the European private equity firm, which recently secured EUR 9 billion for its Fund XI.
In an exclusive discussion with Finextra, Nordic Capital shared insights on Agnihotri’s role and the firm’s future in fintech investment. Agnihotri’s extensive background spans banking, payments, technology, and consulting, highlighting his previous position as global head of JP Morgan’s payments investment banking team, followed by a stint as managing director at Financial Technology Partners (FT Partners) in London.
With a graduate degree in computer science from IIT Delhi and experience in Silicon Valley, Agnihotri has also been integral to transforming Visa’s core transaction processing system. His career boasts involvement in several significant deals for fintech enterprises, including Adyen, iZettle, Mambu, Mollie, and Nets.
Fredrik Naslund, partner and head of technology and payments at Nordic Capital Advisors, commented on Agnihotri’s addition to the team: "Nordic Capital has established itself as a leading investor in financial software and fintech. Having previously collaborated with Mohit on advisory roles in these sectors, we are thrilled to welcome him, as his extensive network and experience will be invaluable. This appointment signifies our commitment to enhancing our investment efforts in these domains."
Agnihotri expressed that his decision to join Nordic Capital stemmed from a strong cultural alignment, noting the firm’s impressive track record in cultivating industry leaders and its unique partnership approach. He sees tremendous opportunities within the evolving financial services landscape, emphasizing the potential to drive innovation that enhances consumer products and services.
“My objective is to build on Nordic’s remarkable successes and contribute to the development of transformative fintech companies that will redefine the financial services landscape,” Agnihotri remarked.
Reflecting on the recent turbulence in the banking sector, notably the collapses of Silicon Valley Bank and Credit Suisse, both Naslund and Agnihotri acknowledged short-term market volatility while underscoring a long-term focus on the financial industry’s prospects. They believe that technological advancements remain crucial.
Agnihotri highlighted various innovative sectors in payments, such as software integration with payment solutions, cross-border transactions, and open banking, as vital areas for investment. He noted the increasing complexity in global financial systems due to digital infrastructure developments as a promising avenue for capital allocation.
Naslund added that Nordic Capital’s successful portfolio companies, including Trustly, Regnology, and Duco, are already leveraging the trends Agnihotri identified. "With Mohit’s expertise, we look forward to intensifying our investment initiatives in these segments," he stated.
Regarding the rising interest in artificial intelligence (AI) and machine learning, Agnihotri described AI as a transformative force not only in financial services but across all industries. "We anticipate a surge in new AI-focused fintech companies and expect established financial software firms to enrich their offerings with AI-driven products," he indicated.
As for the future of the fintech market, both leaders acknowledged its current softness, with increased activity anticipated in the U.S. and a probable uptick in Europe later on.
On the topic of IPOs, Agnihotri concluded, "We know several companies contemplating IPOs are currently biding their time, awaiting the right market conditions to proceed."