Airwallex, a Hong Kong-headquartered cross-border payments unicorn, has established a new venture capital fund that invests into early-stage, high-growth technology-enabled companies powered by its infrastructure.
The fund, Capital 49, is set up by Airwallex founders with the aim of raising $200 million, focused on investment opportunities among companies within Airwallex’s ecosystem.
Capital 49 will look into industries such as e-commerce, SaaS, digital and technology, business services and enablers, and financial technology. To date, Capital 49 has completed investments in two such fintech firms.
“We are so excited to share the news of our new fund,” said Jack Zhang, Co-founder and CEO of Airwallex and Founder of Capital 49.
As part of the fintech and start-up ecosystem, Zhang said Airwallex has consistently observed that a clear technological advantage is incredibly important for a business to stand out from the competition.
“That is why we are committed to invest in and foster the growth of tech-enabled companies, particularly at a time where there is huge appetite for innovative solutions to enhance business efficiencies,” he added.
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 $100 million, nearly tripling its valuation to $2.6 billion in just two years.
The company 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 and Australia, as well as the launch of its Airwallex Borderless Cards for businesses in Hong Kong.
“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,” Zhang added.