When the venture arm split from Santander in 2020, General Partner Manuel Silva Martinez promised a speedier, more aggressive investment approach. The newly independent firm, now known as Mouro Capital, has shifted its focus toward artificial‑intelligence‑driven startups, deliberately distancing itself from the generic "fintech" label.

Mouro’s strategy leans on AI‑enabled platforms that can scale quickly across markets, a move meant to capture value before larger banks can react. By targeting firms that embed machine learning in credit underwriting, fraud detection, or customer personalization, the fund hopes to generate outsized returns and prove that niche expertise beats broad‑stroke fintech bets.

Investors have taken note, allocating capital to Mouro’s latest fund despite the sector’s volatility. The firm’s clear stance—eschewing the fintech tag while embracing AI—offers a differentiated thesis that could reshape how banks spin out venture units. Mouro Capital now stands as a test case for whether specialized, technology‑first investing can outpace traditional banking‑backed venture models.