Thailand’s Beacon VC invests in US-based NYCA Partners’s third fund

Thanapong Na Ranong, MD, Beacon VC

Beacon Venture Capital, the corporate venture capital arm of Thailand’s Kasikornbank, has announced its participation in the third VC fund of US fintech investor NYCA Partners, which was closed recently at $210 million.

NYCA Investment Fund III claims a global network of 21 institutional investors and notable figures in fintech and financial services industry, including Beacon’s fellow Thai CVC, Digital Ventures, the VC arm of Siam Commercial Bank.

Founded in 2014 by a former Visa president Hans Morris, NYCA invests in companies where technology creates a distinct competitive advantage in financial services spanning from banking, payments, and investing, to insurance.

The firm closed its first fund in 2014 at $30 million, while its second vehicle closed at $140 million in 2016.

Over the past five years, NYCA Partners says it has assembled a 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.

For Beacon, this deal marks its first investment outside of Southeast Asia. The firm believes that by partnering with NYCA, which is led by a team of former C-level executives from major financial institutions like J.P. Morgan, Citibank, Goldman Sachs, BlackRock, and Visa, it will be able to have access to the fintech companies that will offer value to its holding company as well as the Thai market in general.

“Through the collaboration, we will bring innovation from the Fintech 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,” says Beacon VC managing partner Thanapong Na Ranong.

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 neobank application Aspire Financial Technologies, global cross-border payment company InstaReM, and ride-hailing and financial services unicorn Grab.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.