Article in the Australian, page-2

The venture capital arm of Afterpay is getting increasingly active when it comes to investments.

It is understood that AP Ventures, which is 44 per cent owned by the buy now pay later services provider, is poised to buy a services provider for small to medium sized business merchants in a deal in the ballpark of about $45m. The unit AP Ventures is run by former Investec banker Hein Vogel.

AP Ventures typically injects sums of at least $10m of equity into high growth companies.It has already raised $50m from investors such as billionaire Alex Waislitz and last year, it made its first foray into the Chinese buy now pay later sector with a US$10m injection for a 20 per cent stake in the Shanghai-based start up firm Happay.