16 December 2017
visit www.ebaday.com

China's Ping An preps $1bn overseas fintech and healthcare fund

04 May 2017  |  7970 views  |  0 Chinese flag

China's Ping An Insurance Group has hired Citi veteran Jonathan Larsen to lead a new $1 billion overseas fund than will focus on investing in financial and healthcare technology.

Larson, who spent 18 years at Citi, most recently as global head of retail banking and mortgages, will become Ping An's chief innovation officer as well as manager of the China Ping An Global Voyager Fund.

The fund will be managed from Hong Kong and look to invest in early stage fintech and healthcare tech firms around the world, as China's biggest insurer looks to expand beyond its home market.

Ping An already has fintech experience through its Lufax subsidiary, China's biggest P2P lending and wealth management platform. Lufax is already looking to expand into Hong Kong or Singapore, according to Reuters.

Says Larsen in a statement. "I look forward to helping Ping An access global innovations in finance and technology and build a global presence in fintech and healthtech."

According to estimates from Credit China FinTech, China's investment in fintech ventures grew by $8.8bn between July 2015 and June 2016, more than doubling from 2010, and investors are increasingly looking overseas. Earlier this year, CreditEase, a $1 billion fintech investment fund operating out of the country, announced a series of investments in US-based financial technology startups.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chinese fintech fund makes US startup investments

Chinese fintech fund makes US startup investments

17 March 2017  |  7456 views  |  0 comments | 6 tweets | 1 linkedin
China's fintech dragons roar

China's fintech dragons roar

26 January 2017  |  9056 views  |  0 comments | 14 tweets | 9 linkedin
China's Ant Financial goes global in bid for two billion users in 10 years

China's Ant Financial goes global in bid for two billion users in 10 years

20 January 2017  |  10871 views  |  0 comments | 24 tweets | 15 linkedin
China launches $1.5bn fintech fund

China launches $1.5bn fintech fund

03 January 2017  |  32620 views  |  0 comments | 87 tweets | 55 linkedin
China tops world fintech rankings

China tops world fintech rankings

05 December 2016  |  14162 views  |  0 comments | 42 tweets | 33 linkedin
Ping An speeds up online lending with facial recognition

Ping An speeds up online lending with facial recognition

19 April 2016  |  9158 views  |  0 comments | 8 tweets | 18 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.aciworldwide.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10341 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9774 views comments | 17 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7040 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6434 views 0 | 4 tweets | 2 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
6095 views comments | 5 tweets | 26 linkedin

Featured job

Find your next job