The investment firm behind Apex Clearing is unveiling a new fintech initiative in partnership with the University of Michigan Ross School of Business. PEAK6 Investments, whose portfolio includes digital custodian and clearing firm Apex Clearing, Apex Crypto and even esports organization Evil Geniuses, will provide an undisclosed amount of funding to the university to build the Michigan Ross FinTech Initiative, according to an announcement.
The program is designed to “bridge the gap between a traditional business education and the high-level quantitative skills employers need now and into the future,” according to the announcement. It will consist of educational offerings, learning experiences meant to connect students and businesses, as well as clubs, events and activities related to fintech.
"The rapid pace of change in the fintech sector is creating an urgent need for experienced professionals who not only understand the technology underlying these services, but also how the disruption in financial services impacts and advances their business," said Scott DeRue, dean of the Ross School of Business. The university’s business school will be responsible for developing and managing the initiative, with funds and leadership coming from PEAK6. The program at Michigan plans to add more business partners over time.
"Our core businesses sit at the intersection of finance and technology and we have experienced first-hand the nationwide shortage of talent,” said Jenny Just, co-founder of PEAK6 and Michigan alumna, in a statement. "We are excited to partner with Michigan Ross…to make an immediate impact in the fintech space.”
