{"id":36562,"date":"2023-10-20T14:44:49","date_gmt":"2023-10-20T14:44:49","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/international-bank-backs-aussie-startups-in-another-important-endorsement-for-the-sector-startupsmart\/"},"modified":"2023-10-20T14:44:49","modified_gmt":"2023-10-20T14:44:49","slug":"international-bank-backs-aussie-startups-in-another-important-endorsement-for-the-sector-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/international-bank-backs-aussie-startups-in-another-important-endorsement-for-the-sector-startupsmart\/","title":{"rendered":"International bank backs Aussie startups in another \u201cimportant endorsement\u201d for the sector – StartupSmart"},"content":{"rendered":"
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An international banking group is backing Australian startups and the fintech sector through a \u201csignificant\u201d investment in accelerator and VC fund H2 Ventures.<\/p>\n

Investec Australia has taken a minority stake in H2 Ventures through a deal which will assist the group to expand its accelerator and invest in more local fintechs.<\/p>\n

The exact size of the investment hasn\u2019t been disclosed, but Investec Australia\u2019s David Phillips says it is \u201cin the millions\u201d.<\/p>\n

More validation for the sector<\/h3>\n

It\u2019s another large global institution throwing its support behind Australia fintech, serving as an \u201cendorsement\u201d of the sector in general, Phillips says.<\/p>\n

\u201cInvestec is interested in backing innovation,\u201d Phillips tells StartupSmart<\/em>.<\/p>\n

\u201cWe see a lot of momentum there with policy changes at the government level. We as an institution are all about entrepreneurs and right now a lot of entrepreneurs are in innovation, tech and fintechs.<\/p>\n

Through the investment in H2 Ventures, Phillips says Investec wants to work with early-stage startups and help build their businesses.<\/p>\n

\u201cWe want to start a relationship with these companies early in their life-cycle and then be a 20-year partner,\u201d he says.<\/p>\n

\u201cWe\u2019re backers and sponsors of emerging and growing businesses. We want to get closer to entrepreneurs as they start to build out their businesses.\u201d<\/p>\n

To do this, Investec decided to partner with some experts in the field \u2013 H2 Ventures co-founders and brothers Ben and Toby Heap.<\/p>\n

Phillips says he\u2019s been working with the pair for more than a year \u2013 including organising a young entrepreneurs Israel trip last year.<\/p>\n

\u201cWe came up with the idea and quickly said, \u2018this makes sense, let\u2019s go and do it\u2019,\u201d he says.<\/p>\n

\u201cWe are backing a manager who knows much more about fintech than I ever will.\u201d<\/p>\n

He says the skills of the brothers were what made the deal an easy decision.<\/p>\n

\u201cThe attraction for us is those two are entrepreneurs themselves,\u201d Phillips says.<\/p>\n

\u201cThey\u2019re outstanding individuals. They\u2019re the sort of guys I\u2019d like to hire but they\u2019d never work at a bank so this is our way to work with them.\u201d<\/p>\n

Expanding its fintech offering<\/h3>\n

For H2 Ventures, the capital injection provides an opportunity to greatly expand its accelerator program at Stone & Chalk and look to fund more early-stage startups, Ben Heap says.<\/p>\n

“It provides us with capital and a balance sheet that means we can rapidly grow our own accelerator,” Heap tells\u00a0 StartupSmart.<\/em><\/p>\n

“It also gives us the capacity to look at other markets, at how we can either attract talented entrepreneurs to come to Australia or take some of the businesses we’ve invested in into international markets.”<\/p>\n

It\u2019s another big deal for the Sydney-based group after recently securing a deal with First State Super<\/a>, giving it the \u201cdeepest pockets\u201d in the fintech sector.<\/p>\n

“This is another step forward for us,” Heap says.<\/p>\n

“Investec understands what we’re trying to do very well.<\/p>\n

“It’s very much an endorsement of both the innovation landscape here in Australia and the government’s increased focus and attention on the space. It supports the model we’re pursuing – being able to back ventures at an early stage.”<\/p>\n

The government is also recognising the fintech sector, last week establishing an \u201cexpert advisory council\u201d which included Ben Heap<\/a>.<\/p>\n

After recently also backing Equitise, Phillips says Investec as more in store for the Australia innovation scene in the coming months.<\/p>\n

\u201cWe\u2019re backers and sponsors of emerging and growing businesses,\u201d he says.<\/p>\n

Follow StartupSmart on Facebook<\/strong><\/a>, Twitter<\/strong><\/a>, LinkedIn<\/strong><\/a> and SoundCloud<\/strong><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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