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Revolut’s billionaire CEO has opened a family office in London

Revolut's CEO Nik Storonsky has just opened a family office to invest his $7bn personal wealth, filings show.

By Isabel Woodford

Nikolay Storonsky, Revolut CEO

Nik Storonsky, the founder of London fintech Revolut, has opened a family office in London, months after becoming a paper billionaire. 

Companies House records show that the 37-year-old entrepreneur incorporated the office last month under the name Storonsky Family.

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.

In the past, successful founders such as Wise’s Taavet Hinrikus and Checkout.com’s Guillaume Pousaz have opened family offices to ramp up their angel investment. Pousaz opened a family office earlier this year called Zinal Growth, run out of Switzerland by a professional VC.

It’s still 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.

However, two sources close to the founder say it makes sense that Storonsky would use a family office to “professionalise” his angel portfolio.

If Storonsky does start angel investing more aggressively, it could see him pouring millions of his personal wealth back into the tech ecosystem.

The family office filing comes after Storonsky cashed in a part of his stake in the $33bn fintech during a secondary round in the summer. Storonsky had already liquidated several million dollars into cash during previous sales.

Storonsky has rarely discussed his personal wealth in public interviews, or what he hopes to use it for. However, he recently told The Evening Standard he did not believe in inheritance, fearing “money spoils children”.

Revolut declined to comment.

An earlier version of this story said that Storonsky was the UK’s first tech billionaire. While the term “tech billionaire” is open to interpretation, figures like Michael Moritz, Teddy Sagi and others are also billionaires thanks to tech companies so we have tweaked this.

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