H2 Ventures, born from AWI’s ashes, will fund 100 fintech firms
This is great news for start-up Australian FinTech companies looking for funding.
Venture capitalist brothers Ben and Toby Heap have established a new fintech-focused venture capital fund and accelerator, H2 Ventures, which is raising $10 million to invest in 100 fintech start-ups over the next three years. The establishment of H2 follows the demise of AWI Ventures, where Toby has been managing director, after its ASX-listed parent Australasian Wealth Investors, where Ben was chief executive, withdrew support for VC. The change of heart was spurred by a restructure after the company was stung by its investment in financial services business van Eyk, which collapsed amid a governance scandal.