Note from the Publisher: The pace of innovation in fintech is hard to keep up with, even for us and we’re ALL ABOUT FINTECH, and so is the money trail, but it appears that a big hunk of it is coming out of Asia, and more specifically, Singapore. We previously reported that Singapore is Launching the Largest Fintech Hub on Planet and now Dymon Asia Ventures is announcing a new VC arm that will focus exclusively on fintech.
“Dymon Asia Ventures – the newly created venture capital arm of Singapore-based Dymon Asia Capital – has kicked off the process to raise a $50-million debut fund, exclusively dedicated to the fintech space……….
Dymon Asia Capital, co-founded in 2008 by Danny Yong and Keith Tan, currently oversees assets to the tune of over $5 billion.
The new venture fund will provide early stage capital (Seed to Series B) to fintech startups in Singapore and Southeast Asia who are working in areas such as asset and wealth management, insurance, and credit. It will invest between $200,000 and $5 million, industry executives aware of the development confirmed.
The firm will also incubate fintech startups. The first of its incubatees is Spark Systems, that provides a technology solution for emerging market FX trading, these executives added.”