H2 Ventures, an Australian-based fintech accelerator, has unveiled plans for its newest venture, H2 Ocean, together with a plan to raise a minimum of $27.5 million along with the goal of achieving a listing on the Australian Securities Exchange (ASX), per an H2 statement.
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H2 Ventures is an accelerator in Sydney that has recently secured a number of integral investments, collectively dictating its future plans and ambitions – this includes the rollout of H2 Ocean, a disruptive investment portfolio initiative. Per the investment, H2 Ocean will aim to procure a portfolio of between 15 and 50 leading fintech ventures.
H2 Ventures’ co-founders, Toby and Ben Heap, are also eyeing an ASX listing, which would go a long way towards funding future developments at the group. The decision to culture local opportunities also follows on the heels of a strong performance in the local fintech industry, one that has achieved steady and widespread growth over the past few years.
Both individuals also portend an increase in growth in the upcoming years, with a recently released H2 prospectus stating: “H2Ocean Shareholders will gain investment exposure to early and growth stage Fintech Ventures that would otherwise be difficult to access while the H2Ocean investment portfolio may also provide a hedge against traditional bank and insurance investments that are at risk of digital disruption.”