FinTech accelerator H2 Ventures looks for $41m in IPO

H2 Ventures, an Australian fintech accelerator, has filed a prospectus for its new venture H2Ocean to IPO on the Australian stock exchange.

It aims to raise between A$27m ($20m) and A$55m ($41m) to invest in early stage startups.

If the plan goes ahead the float would make H2Ocean Australia’s first listed fintech investment company.

Ord Minnett and Shaw and Partners will manage the offering with Investec, an investor in H2 Ventures serving as advisor.

Sydney-based H2Ocean aims to build a portfolio of between 15 and 50 fintech startups, investing alongside other VCs in Series A rounds between A$1m ($0.7m) and A$3m ($2.25m).

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