According to Sifted, CEO of Revolut Nik Storonsky has decided to open a family office in London, UK.
This way he plans to invest his $7bn worth of personal wealth, filings show.
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Revolut, which offers banking and trading services through an app, is now valued at $33 billion, a sixfold increase on the $5.5 billion the company was worth last year.
Nik Storonsky has said Elon Musk’s perfect combination of “rationality and craziness” makes the Tesla boss his leadership hero.
Revolut’s adjusted revenue was 261 million pounds ($359 million) last year as the company made an operating loss of 201 million pounds.
The new fund raises the possibility that Storonsky could begin investing part of his estimated $7bn wealth into tech startups, having already backed the likes of Sweden’s Tink.
Storonsky studied for a physics masters degree at the Moscow Institute of Physics and Technology and has a masters in economics at the New Economic School in Moscow.
It remains unclear what Storonsky is looking to use his family office for, or what he will focus his investments in. The only people named in the filing are himself and Tommaso Pace, Revolut’s general counsel.
Two sources close to Storonsky say it makes sense that he would use a family office to “professionalize” his angel portfolio, Sifted claims.
If Storonsky does start angel investing more aggressively, it could see him pouring millions of his personal wealth back into the tech ecosystem.
