Capital 49

On July 29, 2021, Airwallex announced Capital 49, targeting $200 million from Airwallex founders and other investors for early-stage, high-growth companies in its ecosystem. Focus areas included e-commerce, SaaS, digital technology, business services and fintech. The announcement said two fintech investments had already been completed without naming the companies; $200 million was a target rather than a disclosed completed raise.⁠[1]

On February 23, 2023, German business-finance software company finway announced a €9.2 million, or approximately $10 million, Series A led by Capital 49. Participants included Force Over Mass, Indeed co-founder Paul Forster’s family office, and existing investors btov Partners and 10x Group. Funding primarily supported product development for SMB invoicing, accounting, spending and travel expenses; Jack Zhang confirmed the lead role in the announcement.⁠[4]

On November 10, 2026, Alta (financial infrastructure)Alta (financial infrastructure)A blockchain payments and settlement infrastructure company for financial institutions, co-founded by Loong Wang, Catherine Porter and Jack Zhang.Open the full entry announced a $47.5 million Series A and $32.5 million of prior seed financing, bringing total funding to $80 million. Capital 49 participated alongside GV, Blackbird VenturesBlackbird VenturesBlackbird Ventures is a venture capital firm founded in 2012, primarily backing Australian and New Zealand founders through early-stage and growth funds and operating startup community programs.Open the full entry and Square Peg CapitalSquare Peg CapitalSquare Peg Capital is a technology investment firm founded in Australia in 2012, backing startups across Australia and New Zealand, Southeast Asia and Israel, with growth funds and a listed technology strategy spanning company development stages.Open the full entry in the Index VenturesIndex VenturesIndex Ventures is a venture capital firm founded in Geneva in 1996. It invests from seed through growth and operates across London, San Francisco and New York, supporting technology companies through a transatlantic network.Open the full entry-led Series A. Capital 49’s Chris Cheng said it had backed Alta since founding. Alta planned institutional blockchain infrastructure for privacy, compliance and global connectivity, with funding supporting engineering, compliance and institutional partnerships.⁠[5]

The current team page lists founder Jack Zhang and partners Christopher Cheng and Philipp Seifert. Cheng leads investment strategy, with experience in investment banking, private equity and operations, followed by SoftBankSoftBank GroupSoftBank Group (SoftBank Group Corp.) is an investment holding company headquartered in Tokyo, founded by Masayoshi Son in 1981. Starting out as a distributor of personal computer software, it moved into the internet, broadband and mobile communications, and has since become an investment group centered on AI-related assets such as Arm, the SoftBank Vision Funds and OpenAI.Open the full entry’s Vision Fund and fintech/SaaS investing at Obvious Ventures. Seifert co-leads strategy with an AI infrastructure and applications focus. Previously a 468 Capital partner and Sapphire Ventures investor, his investments included Poetiq AI, Entangl, Sygaldry, Brev, Braze, Segment and DataRobot. He began in Goldman SachsGoldman SachsGoldman Sachs is an American financial services group headquartered in New York whose businesses include investment banking, securities trading, asset management, and wealth management. It traces its origins to the commercial paper business Marcus Goldman founded in 1869; it listed on the New York Stock Exchange in 1999 under the ticker GS and became a bank holding company in 2008. David Solomon serves as chairman and chief executive officer.Open the full entry investment banking and is a Kauffman FellowsKauffman FellowsKauffman Fellows is a nonprofit education and peer network for venture capital professionals, built around a two-year fellowship and operated by the Center for Venture Education. Originating at the Ewing Marion Kauffman Foundation, it launched its first class in 1995 and by 2026 counted about 1,060 Fellows.Open the full entry Class 28 member.⁠[3]

The official portfolio lists 11x, Avoca, Campfire, Entangl, Finway, Garage, Kintsugi, Lorikeet, Metal, Openborder, Rutter, Skuad, Traild, Unify and Wayflyer. The firm says it connects founders with potential customers, providers and advisers through Airwallex’s global network. The portfolio still uses the name Metal; Alta’s separate funding announcement confirms Capital 49’s investment relationship.⁠[6][2][5]

The official website is https://capital49.com/ (opens in a new window), whose footer links to the company LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry account at https://www.linkedin.com/company/capital-49/ (opens in a new window). Connections include the founder’s Airwallex background, Cheng’s SoftBank Vision Fund and Obvious Ventures experience, Seifert’s 468 Capital and Sapphire Ventures experience, and finway, Alta and other portfolio companies listed on the website.⁠[2][3][6][4][5]