Guardian Capital bullish on IT start-ups
View(s):Guardian Capital Partners PLC (formerly Watapota Investments PLC), an investment fund under the Carsons umbrella, is in the process of looking at a couple of deals to deploy their Rs. 438 million cash and is bullish on the IT sector concentrated around early stage start- up companies.
“We made a commitment to invest a sum of Rs. 10 million in Kashmi Singapore Pte Ltd, based in Singapore, which developed and runs a Peer to Peer mobile payment solution with embedded social media functionality, which enables cash transfers between individuals and vendors through a mobile app.
The company is promoted by a group of young Sri Lankan entrepreneurs, operating out of Singapore and Sri Lanka,” the annual statement says. The company will initially launch the product in Singapore and then it hopes to expand into other ASEAN countries like Malaysia and Indonesia. The promoters were funded by ‘Turn 8′, which is an incubator based in Dubai, and ‘Startupbootcamp Fintech Singapore’, a financial innovation focused accelerator in Singapore, during the product development stage.