Singapore-based LifeSREDA.VC, a fintech venture capital (VC) firm with Russian roots, announced that they are launching a fintech fund for startups for the amount of $20 million as a first close, provided by local LPs frim Malaysia. In addition, the VC firm will be involved in opening a co-working space in Malaysia’s commercial capital of Kuala Lumpur.
The fund will have its first close at $20 million, with LifeSREDA aiming to reach a hard close of $50 million by the end of the year.
