Singapore-based fintech investment firm BitRock Capital is currently inching towards meeting its target to close a new US$$100 million fund, according to a Bloomberg report. This would more than double BitRock’s first fund close in 2021.
The new fund will target software-as-a-service and digitalisation opportunities in China, fintech companies in Southeast Asia, as well as global startups in digital asset infrastructure and Web3.
Backed by logistics real estate operator GLP, BitRock Capital is in discussion with family offices as well as longer-term limited partners with the aim to close the new fund by the third quarter of this year.
Founded in 2018, BitRock has more than 20 companies in its portfolio including the Swiss digital bank Sygnum Bank, London-based digital asset exchange Archax and Hong Kong-based virtual insurer OneDegree.
Alfred Shang
“We are a specialist fund, so we like to cherry-pick the best deals. The economic slowdown globally, the high-interest environment, and the impact of Covid last year — all of this means that we as a sector specialist will be able to have better deals.
I wouldn’t say it’s easy in today’s world, but we are moving forward as intended. It’s going to take more education and I think potential investors now are more sophisticated, but we are having interesting and informative dialogs with potential LPs and they’re raising really good questions as well.”
Shang said.
