Australian fintech accelerator H2 Ventures has launched H2Ocean Ltd, the first listed venture firm on the Australia Securities Exchange (ASX), which seeks to raise funds of at least $27.5 million, up to $55 million.
Brothers Ben and Tony Heap, both seed funding VC specialists, led H2Ocean’s launching to cater to the fintech startup market.
Ord Minnett and Shaw and Partners are leading the prospectus offered at $1.10 per share. Teasurer Scott Morrison launched the float due to list around October 19.
In its prospectus, H2Ocean indicated that investors will benefit from diversified global exposure to the fintech sector through a portolio of ventures with innovative products, services and business models.
The Heap brothers expressed confidence that H2Ocean will gain significant interest from large Australian companies.
Besides their present portfolio of 15 startups, the brothers plan to invest in other fintechs seeking seed capital.