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hummingbird.vc

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Investments

91

Portfolio Exits

16

Funds

8

About Hummingbird Ventures

Hummingbird Ventures, formerly Big Bang Ventures, is a venture capital fund for high-growth digital media and software companies. In addition to funding, Hummingbird Ventures leverages its operational experience and worldwide network to actively help startups accelerate growth. Hummingbird Ventures specializes in IT and online services and focuses on digital media, social media, e-commerce, cloud computing, infrastructure software, enterprise software, gaming and mobile applications.

Hummingbird Ventures Headquarter Location

Hangar 26/27 Rijnkaai 98

Antwerp, 2000,

Belgium

+32 3 292 37 10

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Latest Hummingbird Ventures News

Aspire raises $158M Series B to build a full-stack “financial operating system” for Southeast Asian businesses

Sep 27, 2021

Aspire , the Singapore-based neobank that wants to become an “end-to-end financial operating system” for Southeast Asian businesses, is moving closer to its aspirations with a $158 million Series B. The round consisted of $58 million in equity and $100 million in debt, and was led by an undisclosed global fintech-focused growth equity investor, with participation from DST Global Partners, CE Innovation Fund, B Capital Partners and returning investors MassMutual Ventures, Picus Capital, AFG and Hummingbird Ventures. The debt capital was provided by hedge fund Fasanara Capital. The round also included angel investors from some notable fintech startups, like Wise co-founder Taavet Hinrikus; Qonto co-founders Alexandre Port and Steve Anavi; Uala founder Pierpaolo Barbieri; Xendit co-founder Moses Lo; Payfazz co-founder Hendra Kwik; and Clara co-founder Gerry Colyer. Aspire was founded in 2018 to provide working capital loans for small- to medium-sized businesses, but soon after its founding, it began taking a multi-product strategy. Its portfolio of services now include bank accounts for cross-border businesses, corporate cards and automated invoice processing, all of which are connected to financial management software. The company also operates an incorporation service for Singaporean companies called Aspire Kickstart. More than 10,000 business accounts have been opened on Aspire, and in total they transact about $2 billion annually, doubling in five months from May . “What we’re trying to do is connect traditional banking services with software because we realize the biggest problem is that these two are completely disconnected,” co-founder and chief executive officer Andrea Baronchelli told TechCrunch. “So you have access to accounts, cards, but those are not powered by software. By putting them together, our vision is to move beyond the concept of digital banking and basically create an operating system where this banking product and software will co-exist.” In addition to Singapore, Aspire also operates in Indonesia and Vietnam and is laying the groundwork, including regulatory, to expand into other Southeast Asian markets, though Baronchelli said it’s too early to announce what markets Aspire is focused on. Based on the company’s product research and interviews with businesses, Baronchelli said that the average SME uses seven providers for their bank accounts, credit solutions, foreign exchange, invoice and payroll management and accounting. Aspire’s goal is to become a one-stop, end-to-end solutions for SMEs. Most of Aspire’s customers sign-up when they need their first business account or corporate card, and then start using its other products as they grow. For larger SMEs that already have business accounts, Aspire tries to capture their attention with value-added products, like its expense management software or credit solutions. Aspire’s credit cards and working capital loans usually start at around $50,000 and can go up to $300,000, but can be customized as businesses grow to increase credit lines. “We had to do that because we realized our segment is a moving target by definition,” Baronchelli said. “We cannot be extremely tied with amounts because our businesses and clients grow.” The company’s plans to build an end-to-end ecosystem is how it differentiates from other fintechs that offer business accounts, like Volopay , Wise and Revolut . Aspire is currently working on building out its payroll system, because many of its clients have employees in different countries. It is also adding more features to its invoice management tool to make reconciling payments with account balances easier.

Hummingbird Ventures Investments

91 Investments

Hummingbird Ventures has made 91 investments. Their latest investment was in Bright Money as part of their Series B on September 9, 2021.

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Hummingbird Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/16/2021

Series B

Bright Money

$31M

Yes

Falcon Edge Capital, Ram Shriram, and Sequoia Capital India

3

6/22/2021

Series A

Enveda Biosciences

$51M

Yes

Catalio Capital Management, Chris Gibson, Lifeforce Capital, Lux Capital, Matt De Silva, True Ventures, Two Sigma Ventures, Village Global, and Wireframe Ventures

8

6/14/2021

Series B

BillionToOne

$55M

No

Four Rivers Group, Libertus Capital, Neotribe Ventures, Norwest Venture Partners, and Y Combinator

2

4/19/2021

Series D

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$99M

Subscribe to see more

10

4/2/2021

Seed VC

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$99M

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10

Date

9/16/2021

6/22/2021

6/14/2021

4/19/2021

4/2/2021

Round

Series B

Series A

Series B

Series D

Seed VC

Company

Bright Money

Enveda Biosciences

BillionToOne

Subscribe to see more

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Amount

$31M

$51M

$55M

$99M

$99M

New?

Yes

Yes

No

Subscribe to see more

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Co-Investors

Falcon Edge Capital, Ram Shriram, and Sequoia Capital India

Catalio Capital Management, Chris Gibson, Lifeforce Capital, Lux Capital, Matt De Silva, True Ventures, Two Sigma Ventures, Village Global, and Wireframe Ventures

Four Rivers Group, Libertus Capital, Neotribe Ventures, Norwest Venture Partners, and Y Combinator

Sources

3

8

2

10

10

Hummingbird Ventures Portfolio Exits

16 Portfolio Exits

Hummingbird Ventures has 16 portfolio exits. Their latest portfolio exit was Deliveroo on March 31, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/31/2021

IPO

Public

3

6/1/2020

Acquired

$991

Zynga

2

5/30/2018

Acquired

$991

Zynga

3

00/00/0000

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10

00/00/0000

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Subscribe to see more

$991

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10

Date

3/31/2021

6/1/2020

5/30/2018

00/00/0000

00/00/0000

Exit

IPO

Acquired

Acquired

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Companies

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Valuation

$991

$991

$991

Acquirer

Public

Zynga

Zynga

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Sources

3

2

3

10

10

Hummingbird Ventures Fund History

8 Fund Histories

Hummingbird Ventures has 8 funds, including Hummingbird Ventures IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/5/2020

Hummingbird Ventures IV

$60M

1

11/5/2020

Hummingbird Opportunities Fund II

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$99M

10

8/14/2017

Hummingbird Ventures III

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$99M

10

12/31/2014

Hummingbird Opportunities Fund

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$99M

10

7/28/2011

Hummingbird Ventures II

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$99M

10

Closing Date

11/5/2020

11/5/2020

8/14/2017

12/31/2014

7/28/2011

Fund

Hummingbird Ventures IV

Hummingbird Opportunities Fund II

Hummingbird Ventures III

Hummingbird Opportunities Fund

Hummingbird Ventures II

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Amount

$60M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Hummingbird Ventures Team

2 Team Members

Hummingbird Ventures has 2 team members, including current Founding Partner, Barend Van den Brande.

Name

Work History

Title

Status

Barend Van den Brande

Cowen

Founding Partner

Current

Frank Maene

Managing Partner

Current

Name

Barend Van den Brande

Frank Maene

Work History

Cowen

Title

Founding Partner

Managing Partner

Status

Current

Current

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