28 September 2016, SINGAPORE – International FinTech-focused venture capital firm Life.SREDA signed a memorandum of understanding with Leonie Hill Capital (LHC), a Singapore-based private equity fund, to become strategic partners in the the area of investments into financial technologies (FinTech) in Asia.
According to the MOU, LHC intends to become a strategic investor (limited partner) in Life.SREDA’s Asian FinTech fund, while Wee-Meng Thoo, Head of Investments at LHC, will be joining Life.SREDA team to be a part of fund management company, which already includes Vladislav Solodkiy and Igor Pesin. The contract should be signed after the deal is approved by MAS. The investment amount can make up for several dozens of million USD, while the total size of the fund is US$100M.
Life.SREDA is one of the first FinTech-only non-corporate venture capitalists in the world and is well-known in the FinTech space due to more than 20 successful investments, including such iconic FinTech brands as Simple, Moven, SumUp, Fidor, Anthemis, Lenddo, etc. At the beginning of 2015, Life.SREDA moved its headquarter to Singapore in order to focus on the investments into booming Asian FinTech market. Besides investment activity Life.SREDA is also well-known through its own respectful semi-annual FinTech report “Money of the Future.”
Leonie Hill Capital is a registered fund management company (RFMC) in Singapore overseen by a management team with more than 60 years of experience across the gGlobal markets, with offices in China, Korea, Japan and USA, with more than USD$2B under management. LHC’s businesses include global hedge funds and private equity.
A recent investment by LHC was MyRepublic, an Internet service provider and telco in Singapore, New Zealand and Indonesia, which will become a synergetic partner to the fund’s FinTech portfolio.
Among the first investment targets, Life.SREDA and LHC are highlighting a newly formed FinTech platform called BAASIS, which is technologically backed by Fidor, a German-based licensed digital bank, which will create a pan-Asia Bank-as-a-Service platform, headquartered in Singapore. BAASIS will provide a core banking infrastructure for FinTech startups and other non-banks in Asia and act as a middleware between traditional banks and FinTech ecosystem. BAASIS investment will strengthen a strategic role of Life.SREDA and LHC in boosting FinTech development in Asia and Singapore, taking it to the next level.
Life.SREDA’s CEO and Managing Partner Vladislav Solodkiy – one of top 35 the most influential FinTech person in the world – states that “Life.SREDA, being a very focused and selective VC, is always looking for strategic partners among regional leaders, who can bring significant value through their local expertise and knowledge. Leonie Hill Capital is one of the most experienced and successful players in the investment space in Asia; that is why it's an honor and pleasure for Life.SREDA to partner with them. The combination of our deep global FinTech knowledge and expertise and their understanding and network of the Asian market will make our team unique and very effective to make successful investments on the largest and fastest FinTech market in the world”
“Our partnership with Life.SREDA will greatly enhance our strategy to identify and invest in the most promising trends, technologies, and startups on the market,” said Arun Kant, CEO of Leonie Hill Capital. "FinTech is definitely one of the most promising and prospective investment segments in Asia and Slava Solodkiy and his team are among the most experienced and knowledgeable people in this space. Our investment experience and capacities, coupled with their FinTech background, will move the whole FinTech ecosystem in Singapore to the new level."
Life.SREDA VC is an international venture capital firm which was established four years ago and is headquartered in Singapore. It is one of the first FinTech-only VC funds in the world. Life.SREDA has invested in more than 20 FinTech startups around the world (US, Europe, Asia), among those are such well-known brands as Simple, Moven, SumUp, Rocketbank, Fidor, Anthemis, Lenddo, etc. Life.SREDA has already made six exits to date, including selling of mobile bank Simple to BBVA Group, a multinational finance group of Spanish origin, for USD$117 million. Life.SREDA is also well known for its FinTech articles, published at own blog http://fintechranking.com/ and for its respectful semi-annual FinTech research Money of the Future. Slava Solodkiy, Managing Partner of Life.SREDA, is one of the most prominent FinTech experts in the world and is listed as one of the top 35 most influential FinTech-persons in the world (according to Institutional Investor magazine) and one of the top 100 innovative bankers in Asia (Next Money).
Leonie Hill Capital is an exempt fund manager under paragraph 5(1) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations of Singapore.
Leonie Hill Capital takes pride in being an alternative investment vehicle to the traditional passive and enhanced indexing strategies. Founded in 2007 to take advantage of extraordinary opportunities in Asia, the firm has since expanded to South Korea and the United States.
Leonie Hill Capital is an independently-run organization and is composed of a management team with more than 60 years of combined international experience. Joining hands with strategic partners, Leonie Hill Capital is dedicated to dynamic approaches within an intensively competitive market.