Ameriprise Subsidiary Seligman Unveils $500M VC Arm as Sector Slumps
Ameriprise Financial shares declined after AI-related selling weighed on financial stocks, dragging the sector lower. Its subsidiary Seligman Investments launched a $500 million venture capital arm to back early-stage technology startups, marking the firm’s strategic push into growth investments.
1. Sector-Wide AI Fears Weigh on Ameriprise
AI-related selling struck financial stocks including Ameriprise as investors questioned the impact of new technologies on bank revenue models, driving Ameriprise shares lower on February 12.
2. Seligman Investments Launches $500M Venture Capital Arm
Ameriprise’s asset-management unit, Seligman Investments, announced a dedicated venture capital arm with an initial $500 million commitment to invest in early-stage technology and innovation-focused startups, expanding its investment capabilities beyond traditional asset classes.