Japan-based payment services firm Credit Saison is putting together a $55m corporate venturing fund called Saison Capital, DealStreetAsia reported today, citing documents seen by the site.
The vehicle will invest at seed and series A stage and will concentrate on India and Southeast Asia-based developers of platforms or economic ecosystems that could potentially provide financial services for underbanked citizens, though it is officially sector-agnostic.
DealStreetAsia understands Credit Saison has already begun investing out of the fund, backing peer-to-peer lending platform Koinworks and US-headquartered venture capital firm Quona Capital, which targets growth-stage deals in fintech developers in developing markets.
Saison Capital will commit the capital over a six-year period. Its parent company already operates a corporate VC unit called Saison Ventures, whose deals this year include Campfire, Hokan and Ijigen, all of which are retail or fintech developers based in its home country.
Credit Saison has not been significantly active in terms of Southeast Asian investments, but has supplied funding for Singapore-based MatchMove Pay and ShopBack in the past.
