London hedge fund manager Toscafund Asset Management has agreed to acquire a stake in German online asset manager Liqid Investments, according to a person familiar with the matter.

Toscafund has led a €33m investment to support the Berlin-based wealth manager’s organic growth, the person said. The firm invested as part of a Series C funding round. Following the deal, Toscafund will hold a significant stake in Liqid, the person added.