Ping An Experiences Efficiently Finishing Preliminary Shut of $200M Fintech and Healthtech Enterprise Fund

Ping An Insurance coverage just lately revealed that it has accomplished the preliminary shut of Ping An Voyager Companions, LP, which is a progress stage enterprise fund. Roughly $200 million in commitments have now been made towards the deliberate $475 million goal.

The deal it supposed for institutional buyers and Voyager Companions says it is going to be making strategic investments in Fintech, healthtech and associated initiatives throughout the globe.

Voyager Companions is being managed by World Voyager Fund (HK), which is a wholly-owned division of Ping An with a longtime observe report in enterprise investing in Fintech initiatives and digital well being providers.

In 2017, Ping An had launched a $1 billion initiative to help World Voyager’s funding actions. World Voyager is an funding administration agency that’s licensed by Hong Kong’s Securities and Futures Fee. The corporate employs 22 professionals.

World Voyager goals to give attention to funding initiatives associated to Fintech, digital well being and varied different ventures which have managed to determine a product-market match. World Voyager says it focuses on companies with constant revenues and stable progress potential.

Voyager Companions has confirmed that it’s going to proceed to maneuver ahead with this technique, by investing wherever between $15 million and $35 million in every initiative.

Ventures, the place World Voyager has been main funding rounds on behalf of Ping An, embrace US-headquarted iCapital Community, a Fintech platform for supporting various investing; China’s Laiye Applied sciences, an AI and RPA platform; Germany’s PlusDental, a teledentistry service; and US-based Snapsheet, a supplier of Cloud-based insurance coverage claims administration functions.

Voyager Companions’ first shut reportedly contains two established North American insurance coverage suppliers and a serious European insurer.

Ping An is now anticipating a ultimate closing for Voyager Companions throughout Q3 2021.

Jonathan Larsen, Chief Innovation Officer for Ping An Group and Chairperson and CEO of World Voyager, said:

“There isn’t a doubt that the digital revolution in finance and well being is right here to remain. Ping An is nicely positioned to establish and convey worth to promising new corporations in these sectors. We have now achieved appreciable success investing in growth-stage fintechs and digital well being corporations and are assured we are able to convey this expertise to bear at Voyager Companions.”

Donald Lacey, World Voyager’s Chief Funding Officer, remarked:

“Ping An believes that fintech and digital well being at the moment are at a particularly interesting inflection level, pushed by mainstream person adoption and conventional monetary establishments’ aggressive embrace of recent applied sciences, corresponding to AI and cloud native core working platforms. One of many concepts behind Voyager Companions is to mix Ping An’s capabilities with assets from different main monetary establishments all over the world, making a car that shall be even higher positioned so as to add worth to the companies we spend money on.”