Airwallex founders launch New Venture Capital Fund, Capital 49
Airwallex, a leading global payments platform, has announced plans to establish Capital 49, a new venture capital fund set up by Airwallex founders, that will invest into early stage, high-growth technology-enabled companies powered by Airwallex's infrastructure.
The new fund aims to raise USD200 million through the Airwallex founders and other investors, and will look for opportunities to invest among companies within Airwallex's ecosystem, across a number of industries including e-commerce, SaaS, digital and technology, business services and enablers, and FinTech. To date, Capital 49 has completed investments in two such FinTech firms, the firm reported in a press release.
Founded in 2015 in Melbourne and headquartered in Hong Kong, Airwallex has grown to become a global FinTech platform that is supported by a team of over 800 employees across 12 global offices. Earlier this year, Airwallex announced an additional capital raise of USD100 million, nearly tripling its valuation to USD2.6 billion in just two years. Airwallex also continues to broaden its suite of products and applications, providing end-to-end solutions for customers across business accounts, expense cards and other customised value-add solutions. Most recently, Airwallex announced a suite of new product solutions, including the rollout of its online payment solution in Hong Kong, China and Australia, as well as the launch of its Airwallex Borderless Cards for businesses in Hong Kong.
“As an organisation, Airwallex could not have achieved what it has today if not for the players within our ecosystem,” added Zhang. “With this fund, we will continue to empower businesses to grow without borders by providing them access to capital, a global network and deep insights and expertise, while ensuring we continue to generate financial returns for our investors.”