Note from the Publisher: File under “OMG”. China – the now undisputed leader in fintech investment ahead of the US and the UK – has just launched a second MASSIVE fintech fund, the “Asia FinTech Merger and Acquisition Fund of Funds”, in 3 months. While this one has “only” $1.5B (the Zhongguancun Fund of Fund launched with $4.3B in October 2016), it still is generates a WOW moment when one realizes the massive dollars being poured into fintech in The Land of the Rising Sun. America, take note. We’re falling behind on fintech investment – way behind.
“A consortium of Chinese state-owned companies and private enterprises has created a $1.44 billion investment fund dedicated to fintech mergers and acquisitions.
The fund, Asia FinTech Merger and Acquisition Fund of Funds, is led by Hong Kong-listed Credit China FinTech Holdings along with a number of other Chinese companies such as Shanghai Xinhua Distribution Group, China Huarong International and eight other corporate partners.
Investments will focus on fintech fields such as big data, artificial intelligence, mobile payments, supply chain financing, and blockchain technology.
The investment fund is another signal of China’s growing status in the global fintech market. According to estimates from Credit China FinTech, China’s investment in fintech ventures grew by $8.8bn between July 2015 and June 2016, more than doubling from 2010.”
Read Full Article at Finextra