Life.SREDA and Marvelstone on an equal footing invest $ 20 million in Asian startups

    Life.SREDA Venture Fund has entered into an agreement with Marvelstone investment group . They will jointly invest in Asian startups. The focus will be on Korean projects. It is planned to invest a total of $ 20 million. In Asia, partners hope to find promising analogues of such successful projects as Square , LendingClub , Moven Bank , Stripe and so on.

    Since 2012, Marvelstone has been investing in projects in the fields of high technology, insurance, real estate, hotel business and media. Marvelstone CEO Gina Han explained the choice of Life.SREDA as a partner: “They understand the potential and capabilities of the Asian fintech sector, and we share this vision for growth in Asia.”

    Life.SREDA and Marvelstone will not directly support projects, but through their Accelerators InspirAsia and 10K, respectively, reports Kommersant. InspirAsia is interested in seed and early stage projects from areas such as mobile payments, online lending, money transfers, e-wallets, payment services for hotels, cafes and restaurants. Accelerator invests $ 50-300 thousand in exchange for a share in the project from 5% to 15%.

    According to a Life.SREDA foundation study called Money of the Future, last year projects at the crossroads of finance and information technology worldwide raised $ 6.8 billion. This is three times higher than in 2013 ($ 2.2 billion). Asia was among the 5 most attractive regions for investors. So, Asian projects received $ 0.79 billion last year.

    On February 9, Megamind wrote that Life.SREDA was planning to buy out the Asian mobile acquiring service iboxPro , launched in the markets of Vietnam, Indonesia and Thailand. The deal was valued at $ 10 million.

    However, at the stage of the transaction, the companies had disagreements. “Life.SREDA wanted to buy our Asian business. Russian business was not included in the deal. There was no certainty on many issues regarding the deal, so it seemed to us that combining with 2can was more interesting, ”said iBox CEO Denis Dyakonov.

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