back Back

Ping An completes $200 mn first close of Voyager Partners FinTech fund

By Leandra Monteiro

May 13, 2021

  • China
  • Ping
Share

Ping An, China, FinTechPing An Insurance Company of China, announced the initial close of Ping An Voyager Partners, LP, a growth stage venture fund that will make investments in FinTech, healthtech and other similar businesses around the world. Targeted at institutional investors, Voyager Partners has secured approximately US$200 million in commitments toward its planned US$475 million offering.

Voyager Partners will be managed by Global Voyager Fund, a wholly-owned subsidiary of Ping An with a track record in venture investing in FinTech and digital health. In 2017, Ping An committed US$1 billion to support Global Voyager’s investment strategy. Global Voyager is an investment manager licensed by Hong Kong’s Securities and Futures Commission and today comprises 22 professionals.

Global Voyager has meaningful revenues and viable unit economics, and are on a clear path to widespread commercial traction. Typically, such businesses have been in existence for more than five years and are at a Series C funding stage or beyond. Voyager Partners aims to continue this strategy, investing between $15 million and $35 million per target.

Jonathan Larsen, Chief Innovation Officer for Ping An Group and Chairman and CEO of Global Voyager said, “There is no doubt that the digital revolution in finance and health is here to stay. Ping An is well placed to identify and bring value to promising new companies in these sectors. We have achieved considerable success investing in growth-stage fintechs and digital health companies and are confident we can bring this experience to bear at Voyager Partners.”

Businesses where Global Voyager has led recent funding rounds on behalf of Ping An include iCapital Network, a US based financial technology platform for alternative investing; Laiye Technologies, a China based AI and RPA platform; PlusDental, a German teledentistry business; and Snapsheet, a US based provider of cloud native insurance claims management software.

In addition to financial backing from Ping An, Voyager Partners’ first close includes, among others, two North American insurers and a top-tier insurer based in Europe.

Donald Lacey, Global Voyager’s Chief Investment Officer said, “Ping An believes that fintech and digital health are now at an extremely appealing inflection point, driven by mainstream user adoption and traditional financial institutions’ aggressive embrace of new technologies, such as AI and cloud native core operating platforms. One of the ideas behind Voyager Partners is to combine Ping An’s capabilities with resources from other leading financial institutions around the world, creating a vehicle that will be even better placed to add value to the businesses we invest in.”

Previous Article

May 13, 2021

HSBC Malaysia launches mobile investment platform

Read More
Next Article

May 13, 2021

Clair partners with MetaBank and Galileo to give workers instant access their earnings

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

China

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 21, 2024

Cuckoo renews relationship with GoCardless for direct debits

Read More

May 14, 2024

Presidents Choice Financial® selects Temenos to expand banking business

Read More

May 13, 2024

PayNearMe taps Trustly to enhance Open Banking technology

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023