Netherlands-based venture capital firm Finch Capital is looking to set up a fund in partnership with Indonesia-headquartered financial services firm Bank Central Asia (BCA)’s strategic investment arm, Central Capital Ventura, DealStreetAsia reported yesterday.
The vehicle is understood to be targeting $200m and is pursuing investments in financial services providers and financial technology developers, participating in series A rounds and later.
Central Capital Ventura and Finch Capital are reportedly in the process of applying for fund management licences in Singapore.
DealStreetAsia reported in January this year the pair were looking to form a co-investment arrangement sized at $75m which has since morphed into the joint fund structure. They both have a track record of putting money behind fintech startups in the Asia Pacific region.
Central Capital Ventura has mainly invested in early-stage fintech developers using its $15m maiden fund, backing the likes of micro-insurance product provider Qoala, interbank transfer platform developer Oy, digital payment network Airwallex and banking software producer Railsbank.
Finch Capital’s past investments include expense reimbursement app Jojonomic – for which it led a funding round in January 2019 – and bill payment platform developer Ayoconnect, participating in its $5m pre-series B round in August 2020.
