Anyone have experience with Citi Ventures?

Came across Citi Ventures this week and thought it looked interesting. Seems like a cool arm of the bank. From what I understand, they look for technology to invest in that will make Citi's businesses run more efficiently. Was wondering if anyone could talk to the type of work this group does and if this is similar to a buy-side / or true venture capital role. Also, was curious if other banks have groups like this. I know GS has Merchant Banking, but unless I'm mistaken that group is a lot more like a Private Equity firm with tens of billions to work with.

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