The former head of international investing at Chinese financial technology giant Ant Group has launched a new private equity firm, 01Fintech, and is raising $300 million to invest mainly in fintech startups in Southeast Asia, according to a person with direct knowledge of the matter.
The debut of the previously unreported fund, whose backers include wealthy fintech founders in Asia and Latin America, reflects investors’ confidence in Southeast Asia’s future growth despite the current global economic slowdown.
