Beacon Venture Capital (Beacon VC), the corporate venture capital arm of Kasikornbank PLC. (SET: KBANK), invests in NYCA Partners’ third venture capital (VC) fund. NYCA ranked as the third most active financial technology (fintech) VC fund by CB Insights in 2018. The fund brought in an investment of US$210 million from a global network of 21 institutional investors and notable figures in fintech and financial services industry.
Founded in 2014 by a former President of Visa, Mr. Hans Morris, NYCA invests in companies where technology creates a distinct competitive advantage in financial services spanning from banking, payments, and investing, to insurance. NYCA is well-known for its hands-on approach. Over the past five years, NYCA Partners has assembled a remarkable group of 55 Limited Partners Advisors who help in analyzing prospective investments and provide deep assistance and expert advice to their portfolio companies to help entrepreneurs become more successful.
Mr. Thanapong Na Ranong, Managing Director of Beacon VC, said: “The investment marks our first investment outside of Southeast Asia. NYCA is led by a team of former C-level executives from major financial institutions, including J.P. Morgan, Citibank, Goldman Sachs, BlackRock, and Visa. We are impressed with the team’s ability to leverage their financial services experience to uniquely select and invest in companies that complement the existing financial infrastructure. Through the collaboration, we will bring innovation from the fintech ecosystem worldwide to Thailand, insights from NYCA’s global network of investors and advisors to KBANK, and portfolio management best practices from NYCA to Beacon VC.”
Mr. Hans Morris, Managing Partner of NYCA Partners, said: “NYCA is delighted to collaborate with Beacon VC to bring leading fintech companies from around the world to Thailand. We meet innovators in all stages, early and growth, and we are eager to unearth the next disruptor in all the many corners of financial services. By connecting our knowledgeable investors and advisors with fintech entrepreneurs, we aim to create a symbiotic relationship that enables a more efficient and empowering financial system for all of us.”
NYCA is the fourth VC fund investment made by Beacon VC, following Southeast Asia-based fintech fund Dymon Asia Ventures, Singapore-based growth-stage fund Vertex Ventures, and Thailand-based education technology accelerator StormBreaker Venture. Additionally, Beacon VC has actively made direct investments in startups across Southeast Asia, including Southeast Asia’s fast-growing neobank application Aspire Financial Technologies, global cross-border payment company InstaReM, and ride-hailing and financial services unicorn Grab.
NYCA Partners is a leading venture capital fund focused on connecting innovative companies to the global financial system. NYCA’s rich experience and deep connections in both finance and technology give it a unique perspective and facility to help entrepreneurs transform payments, credit models, digital advice, and financial infrastructure. NYCA strives to form truly collaborative partnerships, offering capital and expert advice. Some of NYCA’s notable investments include a consumer credit unicorn Affirm, a micro-investing application Acorns, and a business payment and credit network Fundbox.