SINGAPORE, July 2, 2015 /PRNewswire/ -- International investment group Marvelstone has inked a memorandum of understanding with fintech venture capital firm, Life.SREDA.
The MOU sees the formalisation of a co-investment fund created by the two companies, specifically to grow fintech companies in South Korea and other Asian countries.
With regional presence in Hong Kong, Singapore and Korea, Marvelstone has executed a number of investments in diversified industries such as insurance, hospitality, real estate and tech across Asia since 2012, and it aims to develop and invest in more companies over the next few years.
Its new partner, Life.SREDA, has executed investment deals since 2012 to the tune of $40 million, and aims to invest a further $100 million into early-stage startups operating in mobile and internet financial services across the globe.
With the MOU, Life.SREDA's presence, which to date covers the USA, Europe, Ukraine and Russia, will further strengthen its position and networks in Asia.
Said Marvelstone CEO, Gina Heng, "We are delighted to announce our partnership with Life.SREDA. Fintech is a sector that is close to the partners of Marvelstone, given our extensive experience in the financial and technology sectors."
"We've chosen to work with Life.SREDA because it is a specialist in fintech investments and knows global fintech markets and trends well. They understand the potential and opportunities in Asia's fintech sector, and we share the same vision for growth in Asia."
She added, "With their expertise and knowledge, we will be able to better engage both local and foreign institutional players in understanding Asian fintech opportunities."
Plus, Marvelstone's local understanding and expertise in Asian financial and tech sectors, coupled with Life.SREDA's specialized experience, is expected to help Asian startups bring forth further innovation, by giving them access to global fintech expertise and research.
The MOU also seals the deal on Marvelstone becoming a partner in Life.SREDA's current fund, helping the latter source for companies to invest in. Last but not least, the MOU will allow the two companies to work together on accelerating startups in Singapore and Korea, using Marvelstone's affiliated accelerator, 10K, and Life.SREDA's InspirAsia as foundations.
For media enquiries, please contact: media@marvelstone.co
Notes for the Editor:
Marvelstone (www.marvelstone.co) is a private investment group that develops and invests in growing businesses. With finance as their core strength, they also make diversified investments in technology, real estate, hospitality, trading and media. The group believes in the growth of Asia and seeks to focus on emerging markets in the region. It has regional presence in Hong Kong, Singapore and Korea.
Life.SREDA (www.lifesreda.com) is a venture capital firm focusing on investments in FinTech mobile and Internet projects. Their strategy is driven by a deep understanding of the rapidly growing FinTech 2.0 industry. They believe that "The Next Big Thing" is the combination of the past decade's global trends, such as the Social & Mobile, with innovative and bright FinTech ideas.
FinTech refers to financial sectors that are characterised by technological innovations such as mobile payments, p2p transfers and remittances, eWallets, online lending, banking, and payment services.
Accelerator programs often help startup companies or entrepreneurs gain access to venture capital funding (also called seed funding), in exchange for equity. For example, the 10K program provides startups with free office space, support in developing strategy and vision, assistance in legal, marketing and PR, help with global market expansion, access to the programs' mentors, and exposure to the industry's investors to attract even more funding.
