Australian fintech accelerator H2 Ventures has lodged a prospectus with the country's securities regulator to file for an IPO as a listed venture capital company, with a view to raising up to $55 million for investment in early-stage startups.
Co-founders of H2 Ventures Toby and Ben Heap have published a prospectus for the new venture - H2Ocean - with a view to raising a minimum of $27.5 million and a maximum of $55 million and obtain a listing on the ASX.
The Sydney-based accelerator, which recntly picked up a sizebale investment from Investec, says H2 Ocean will aim to build a portfolio of between 15 and 50 fintech ventures.
The prospectus states: "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."
The brothers say they have reviewed a significant number of potential fintech investment opportunities and are anticipating strong interest from some of Australia's largest tech companies.