Use of proceeds

Deployment into outstanding FinTech companies in Southeast Asia

Background


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Dymon Asia Capital ("DAC"), a leader in Asia-focused alternatve investments, has successfully launched its maiden Venture Capital fund in 2017. Fundnel is proud to bring you this exclusive opportunity to participate in and invest alongside the very best, to accelerate the growth of FinTech in South East Asia.

Dymon Asia Capital
A multi-billion dollar award-winning asset management firm, Dymon Asia was founded by Danny Yong and Keith Tan in 2008 as a home-grown hedge fund with initial capital totalling US$113m. The fund quickly rose towards the top of the international leader board, ranking as the 7th and 10th best performing global hedge fund in 2011 and 2014, respectively by Bloomberg. This was coupled with the successful launch of Dymon Asia Private Equity in 2012. As of 1 Jan 2017, assets under management across hedge fund and private equity strategies total approximately US$6.1bn (including committed capital and notional assets).

Dymon Asia Ventures
The Dymon Asia Venture Capital Fund ("DAV") was established with the goal of accelerating the transformation in Financial Services, capitalising on the under-invested core FinTech sectors in the region and leveraging the deep expertise of the DAV team to support entrepreneurs from Seed to Series B stages, and drawing on DAC’s platform, capabilities, expertise and networks.

With a first close of US$20m from several LPs that includes one of Thailand's largest financial institutions, DAV anticipates a total fund raise of US$50m for investments into 12 – 15 companies over its lifecycle. Fundnel will be raising a US$30m tranche for DAV.

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DAV deploys within the B2B FinTech space, focusing on large markets ready for disruption:
  • Credit
  • Asset and Wealth Management
  • Insurance
A team of domain specialists with extensive investment track records, operating experience, and a global network, DAV is headed by:
  • Jinesh Patel: Managed US$200m hedge fund, award-winning TMT specialist
  • Christiaan Kaptein: Co-founder of a US$100m VC fund, acclaimed FinTech specialist
  • Mark Wong: Partner, COO & CRO of DAC and ex Co-Head of Linear Foreign Exchange and Rates trading in Asia at Deutsche Bank
  • Sandra Phung: Legal counsel at DAC supporting its private equity and venture capital strategies
  • Established venture panel: Successful tech-based entrepreneurs, investment professionals and key executives from MNCs with strong background in relevant verticals

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Current portfolio of companies:
  • 4XLabs: enterprise SaaS company that develops software solutions for money changers
  • Capital Match: marketplace for invoice financing
  • Otonomos: corporate governance service provider that runs on block chain technology
  • WeConvene: corporate access platform connecting providers with users in Investment Management
  • Spark Systems: standalone trading technology firm customised for buy-side / corporate treasury desks

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How the Fundnel Trust Structure Works

Watiga Trust Pte. Ltd., which is licensed as a Trust Company by the MAS, will be the Trustee of the Unit Trust that is the vehicle investing in Dymon Asia Ventures (“DAV”) on your behalf. The Unit Trust is a fixed purpose trust, set up sole for the purpose of investment into DAV. It will have a term length of 10 years with the option to extend for another 2 years, congruent with the DAV fund life.

Your investment amount will go towards subscribing for such number of units in the Unit Trust, after deduction of (i) the fees required to set up the Unit Trust; (ii) maintenance fee of the Unit Trust which will be calculated over the 10 year period. Such fees will be allocated on a pro-rata basis.

The Trustee will have the powers and duties of administering and managing the investments in the Unit Trust, making any capital calls and distributions to the investors as required by DAV. Fundnel will assist the Trustee in liaising between the Trustee and DAV.

Traction

5 FinTech portfolio companies of which has seen significant follow-on investments at increased valuations | 1 Active Incubation | 650+ companies reviewed