BitRock wants to capitalize on the potential for fintech growth in Asia.
Fintech investment firm BitRock is eyeing deals amid a post-FTX investment landscape, and is putting together a new US$100 million fund that is targeting software and digitalization plays in Asia.
According to BitRock, it focuses on "fintech innovations disrupting the traditional financial services market," and invests in rapidly growing segments such as supply chain finance, payment, wealth management, and fintech infrastructure such as AI, blockchain, big data, and cloud technology.
Founded in 2018, its portfolio companies include digital asset bank Sygnum and digital asset brokerage and custodian Archax.
For its new fund, it is seeking software-as-a-service and digitalization opportunities in China, fintech companies in Southeast Asia, as well as global startups in digital asset infrastructure and Web3.
Related: "No Better Time to Invest": DeFiance Capital Resurfaces to Close $100M Fund's First Round
Bargain hunting
While crypto VCs with dry powder on the sidelines can benefit from lower valuations and reduced competition for deals, many are wary of the need for more stringent financial controls in projects looking to avoid another FTX-esque collapse.
Read more: Will Crypto VCs Pivot Away From "Go Big, Go Fast" Mode in 2023?
The world of Web3 can be quite a whirlwind. Whether it’s crypto news in Singapore, South East Asia or even across the globe, we understand how busy the industry is keeping you, so we kindly send out three newsletters each week:
- BlockBeat for a wrap-up of the week’s digital assets news
- Blockhead Brief for weekend happenings as well as what to look forward to in the week ahead
- Business Bulletin for macroeconomic updates and industry developments.
To avoid FOMO and access member-only features, click here to subscribe for FREE.