FinTech news in BAI Capital category

The latest close marks the first time that BAI Capital has brought in external limited partners, including sovereign wealth funds, large insurance companies, internet giants, funds of funds, on top of capital from its parent Bertelsmann.

BAI Capital, GIC and GGV Capital co-led the equity portion of the deal, which also included participation from other existing and new investors.

Babel has evolved from a crypto lending business targeting miners and others into a comprehensive crypto asset manager for institutional investors. The growth of Babel Finance, which offers a suite of institution-facing crypto financial products, could be an indicator of how banks, investment funds, and other traditional investors are embracing the emerging digital asset class. It’s one of the many crypto firms to have recently opened an office in Singapore, which is competing with Hong Kong to be the crypto nexus of Asia.