Asia-focused venture capital firm Nova Founders Capital has received a $50m injection from investment company Pacific Century Group.
The funding will be used to invest in fintech firms. It has not been annouced what impact Pacific Century’s investment will have.
Nova Founders was founded by former Rocket internet managers Mads Faurholt-Jorgensen and Raphael Strauch.
“Fintech is the largest remaining internet frontier, presenting massive opportunities across Europe, Latin America, and Asia in particular,” said Faurholt-Jorgensen. “We have so far identified twenty two billion dollar opportunities in financial services internet models worldwide. We have already begun work to build and invest in [the] first five of them. We firmly believe that the next tech superstars will come from the fintech industry.”
Nova Founders’ portfolio includes financial comparison company CompareGlobalGroup, digital marketing agency Lion&Lion and GlassesGroupGlobal, an eyewear web marketplace in the Asia-Pacific.