Investec Australia has followed the lead of First State Super and invested in the early-stage Australian fintech venture capital firm H2 Ventures.
The investment, at this stage undisclosed, comes after the $250 million investment in H2 Ventures by First State Super in December 2015.
H2 Ventures, run by brothers Toby and Ben Heap, invests in early stage fintech start-ups and recently launched the third round of its H2 Accelerator program at Sydney fintech hub Stone & Chalk.
Ben Heap said the additional funding would be used to "scale up" the H2 Accelerator program, to fund more start-ups, and to "build new businesses in a crucial sector of the economy".
David Phillips of Investec Australia, said: "We believe in entrepreneurs and we are backing Ben and Toby to identify and help grow the best fintech entrepreneurs in Australia. We look forward to playing our role in the evolving Australian technology ecosystem."
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