A Singapore-based venture capital firm has made its first European investment into Startupbootcamp Fin Tech, an accelerator organisation developing financial technology businesses.

A Singapore-based venture capital firm has made its first European investment into Startupbootcamp Fin Tech, an accelerator organisation developing financial technology businesses.

In a recent launch event in London’s Southbank Centre, Infocomm Investments announced it has extended its $200 million fund to European technology startups.

“Because Singapore is a strong startup hub in Asia, we want to bring our great startups to London. Singapore and London are natural partners, and we see London as our gateway into Europe, and we want London to see Singapore as the best gateway to the booming Asian markets,” Steve Leonard, chairman of Infocommn Investments, said.

“FinTech” – or financial technology – is a busy area in sectors such as wealth management, where the use of internet platforms, cloud computing and mobile devices is growing rapidly. Asia is proving a busy area: In September, Hong Kong-headquartered investment house Nova Founders Capital, which focuses on financial technology, secured $50 million in investment from Pacific Century Group, an Asian-based firm. Nova also opened a European headquarters in London, and opening in Californa’s Silicon Valley technology region of northern California next year.

Mentors
Infocomm Investments said Startupbootcamp FinTech will play an integral role in building a pipeline of financial technology startups in Singapore; it has a global pool of over 750 mentors who provide value through coaching and connections to customers, partners and investors.

Infocomm Investments’ European operations will be led by Zach Tan, director, London Office.

Startupbootcamp FinTech was set up earlier this year and is based in London. Its partners include Lloyds Banking Group, MasterCard, Rabobank, SBT Venture Capital, arvato Financial Services, Route 66 Ventures and Intesa Sanpaolo, as well as an extensive mentor and alumni network from more than 30 countries.