Singapore-based venture capital firm Resolution Ventures announced that it has made the first close of its US$20 million Southeast Asia-focused fintech fund Resolution Fintech Fund I.
Aiming to invest in around 25 companies, the firm seeks fintech startups that are building solutions that have local, regional, and international applications. It will invest in the pre-seed and seed stages of the company’s journey.
The fund is backed by an international community of fintech-interested institutions, family offices, experienced finance executives, and successful entrepreneurs.
“Resolution builds atop the top quartile track record of Managing Partner Sam Gibb and Blauwpark Investments, a proprietary fintech fund managed by family office Blauwpark Partners. The Fund benefits from the experience of its partners and Blauwpark Partner’s network across the Fintech sector. Early stage fintech companies and their founders benefit not just from capital and guidance, but also the relationships and infrastructure of an institutional asset management firm,” the firm wrote in a press statement.
In an email to e27, Gibb explains that the firm is looking for humble and teachable founders that are going after a large problem that addresses financial inclusion and mobility in the region.
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He also wrote that the firm is open to investing in companies that are working in the Web3 space.
“… There are a lot of applications for Web3 rails to be able to better facilitate the financial infrastructure. We’re very interested in speaking to any companies that are building solutions that have a fintech front-end and Web3 back-end to leverage emerging technologies,” Gibb said.
“The incumbent banking system is built on decades-old technology and is largely a rubber band ball of archaic solutions tied together. There are better alternatives available and we’re keen to partner with the companies that are exploring the leading edge of innovation that could increase financial inclusion and mobility in the region,” he continued.
From this fund, the firm has made investments in Pakistan’s Oraan (a female-led Rotating Savings and Credit Association platform that aims to contribute to greater financial inclusion among women), Stemly (a working capital and inventory management platform that aims to optimise inventory levels and improving working capital management), Dropee (an e-invoicing and ordering platform for FMCG goods that aims to enable easy credit for retailers, connecting micro and SME businesses to distributors and wholesalers), and Vietnam’s Gimo (an earned wage access platform that recently completed YCombinator, aiming to disrupt the predatory market for pay-day loans and improving financial access).
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Image Credit: Resolution Ventures
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