American Express Ventures is a firm that harnesses the combined strength of American Express and startups to drive innovation and alter the trajectory of consumer commerce, enterprise and B2B services. Pulse 2.0 interviewed Amex Ventures managing director and head of business development Ope Runsewe to learn more about the firm.
Ope Runsewe’s Background
What is Ope Runsewe’s background? Runsewe said:
“I’m the Managing Director & Head of Business Development at Amex Ventures, the early-stage investment arm of American Express. I focus on building relationships to drive engagement between Amex Ventures and the broader VC and startup ecosystem. This includes sourcing startups, organizing community events, and supporting post-investment partnerships between startups and Amex.”
“Originally from the UK, I moved to New York in 2019. I’ve been with American Express since 2011, working in various Business Development, Partnerships, and Marketing roles across EMEA and the U.S.”
Details About Amex Ventures
Can you tell me more about Amex Ventures? Runsewe shared:
“Since 2011, Amex Ventures has been investing in innovative startups that align with American Express’ business. We target early-stage startups in areas like consumer, enterprise capabilities, fintech, commerce, and frontier tech. Some recent investments include Wonder, Blackbird, Sensible Weather, DUST Identity, Handle.com, and Skipify.”
“Our goal is to create strategic commercial relationships with these startups, leveraging the broader American Express network. In fact, two-thirds of our portfolio companies have partnered with Amex. We focus on emerging trends that align with Amex’s goals and foster partnerships with the VC ecosystem through events and bootcamps. We invest directly in startups, mainly at the seed to Series A and B stages and aim to continue this disciplined investment strategy.”
Role At The Firm
Can you tell me more about your role at Amex Ventures? Runsewe pointed out:
“At Amex Ventures, we’re all about finding some of the best early-stage founders. My role includes helping entrepreneurs grow their businesses and creating new avenues to connect with a broader set of innovators who we can partner with to provide industry-leading services for Amex. Having worked in both the UK and the US, I appreciate the diverse perspectives that different backgrounds bring to the table. We’ve developed a strong founder-sourcing system through various partnerships and programs for early-stage startups, working with VC firms, accelerators, and universities.”
Partnerships
What are some of the organizations you’ve recently worked with? Runsewe revealed:
“We partner with several organizations, including Project W, which empowers early-stage female founders, and Goodie Nation, which bridges the relationship gap for entrepreneurs of color and female entrepreneurs with a tech focus. Last February, we launched the “Future of Tech is Inclusive” program with Goodie Nation to foster relationships between innovative US-based startups and Amex Ventures. Additionally, we collaborated with Project W on a Women’s Entrepreneurs Bootcamp, providing founders with skills-based learning, insights into Amex Ventures, and networking opportunities.”
Favorite Memory
What has been your favorite memory working for your firm so far? Runsewe reflected:
“One of my favorite memories is speaking at Afrotech 2023 with leaders from our tech organization at Amex. Sharing our experiences as Black tech innovators and discussing challenges like managing growth and nurturing a culture of diversity was incredibly inspiring. It’s always exciting to showcase the great work Amex Ventures does and the successes we’ve achieved.”
Success Stories
Are there any specific success stories with the business development program you would like to share? Runsewe cited:
“Amex Ventures thrives on integrating portfolio companies into the Amex business. We act as connectors and innovation hubs, crucial for founders and startups. As I mentioned, a key part of my role is partnering with startup ecosystem players like VC firms, accelerators, and diversity-focused organizations. For example, earlier this year we partnered with VC firm A16z to bring select AI founders and Amex business leaders together in New York City to discuss potential future commercial partnerships. We’re also dedicated to appealing to a broad set of founders and I’m proud of the curated events we’ve created this past year to address entrepreneurs’ needs. For instance, our collaborations with Project W and Goodie Nation have helped us empower a set of early-stage and diverse entrepreneurs.”
“These are great examples of how we connect with key partners in the startup ecosystem to help fuel innovation across Amex, get insight on external trends that could be beneficial for us, and meet startups that can potentially [plug into](partner with) our business operations.”
Differentiation From Other Firms
What differentiates your firm from others? Runsewe emphasized:
“Amex Ventures isn’t just another fintech investor. We’re interested in startups that align strategically with American Express, across areas like dining, travel, entertainment, commerce, B2B services, and enterprise software. As a Corporate Venture Capital (CVC) firm, we offer more than just funding. We create real impact through commercialization opportunities across various sectors. Our unique model combines investing with partnering, sometimes as a customer or distributor, or even co-developing market solutions.”
Future Goals
What are some of your firm’s future goals? Runsewe concluded:
“We’re committed to finding some of the best and brightest founders and investing in companies that align with American Express’ core functions. We’re looking for visionary leaders who can build relevant businesses and have the discipline to deliver results. We’ve got some exciting activities in the pipeline and look forward to sharing more soon. Stay tuned on LinkedIn or our website (www.amexventures.com).”
