Airwallex Launches US$200 Million VC Fund to Back Startups in Its Network
by Fintech News Hong Kong July 29, 2021Airwallex, a cross border payment company, announced plans to establish a new venture capital fund set up by its founders named Capital 49 that will invest into early stage, high-growth technology-enabled companies powered by its infrastructure.
The new fund aims to raise US$200 million through Airwallex’s founders and other investors, and will look for opportunities to invest across a number of industries including e-commerce, SaaS, digital and technology, business services and enablers, and fintech.
To date, Capital 49 has completed investments into two unnamed fintech firms.
Founded in 2015 in Melbourne and headquartered in Hong Kong, Airwallex has grown to become a global fintech platform that is supported by a team of over 800 employees across 12 global offices.
Earlier this year, Airwallex announced an additional capital raise of US$100 million, nearly tripling its valuation to US$2.6 billion in two years.
Jack Zhang
Jack Zhang, Co-founder and CEO of Airwallex and Founder of Capital 49 said,
“As an organisation, Airwallex could not have achieved what it has today if not for the players within our ecosystem.
With this fund, we will continue to empower businesses to grow without borders by providing them access to capital, a global network and deep insights and expertise, while ensuring we continue to generate financial returns for our investors.”
Featured image:
