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May 2, 2022

QED hires Victoria Zuo to help scale early stage team

ALEXANDRIA, Va. -- QED Investors, a leading global venture capital firm focused on investing in disruptive financial services companies, today announced the hire of Victoria Zuo.

Victoria joins QED as a principal based in San Francisco where she will have a focus on investments in early stage fintech and commerce businesses.

“Victoria brings a diverse range of experiences and perspectives to QED and it’s terrific to add an investment professional of her caliber to the team,” said QED Investors Managing Partner Nigel Morris. “Victoria instantly becomes a key part of our core early stage team as we build out our presence on the west coast and scale into the opportunities ahead of us. Her addition further helps QED deliver on its promise to support founders at the earliest stages of their entrepreneurial journeys and provide the best advice in fintech.”

Prior to joining QED, Victoria helped lead fintech investing at Gradient Ventures, Google’s early stage venture fund, where she worked with founders building the next generation of fintech and commerce tech in categories like insurance, e-commerce, application software transaction processing and core fintech infrastructure. Victoria started her career in tech M&A at Qatalyst Partners, advising founders in their sell-side processes on more than $20 billion in M&A transactions.

“I am thrilled to embark on the next chapter of my career with the best fintech experts in the industry,” said Victoria. “I am particularly excited to partner with founders that are passionate about the next generation of commerce, marketplaces and the broader SaaS monetization stack, and I couldn’t wish to be surrounded by a more highly regarded team of financial technology specialists.”

Victoria was born and raised in Nanjing, China, and continues to draw inspiration from the boom in commerce innovation in Asia.

Founded in 2007, QED Investors has invested in more than 170 companies, including 25 unicorns, and has $4.8 billion under management. In September 2021, QED announced it had closed a substantially oversubscribed $1.05 billion fund, including $550 million in QED Fund VII for early stage investments and $500 million in a new Growth Fund.

About QED Investors

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages our partners’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. Notable investments include AvidXchange, Bitso, ClearScore, Current, Creditas, Credit Karma, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly and SoFi.

Contact

Ashley Marshall
Director, PR and Communications
QED Investors
ashley@qedinvestors.com
(518) 577-9984

ALEXANDRIA, Va. -- QED Investors, a leading global venture capital firm focused on investing in disruptive financial services companies, today announced the hire of Victoria Zuo.

Victoria joins QED as a principal based in San Francisco where she will have a focus on investments in early stage fintech and commerce businesses.

“Victoria brings a diverse range of experiences and perspectives to QED and it’s terrific to add an investment professional of her caliber to the team,” said QED Investors Managing Partner Nigel Morris. “Victoria instantly becomes a key part of our core early stage team as we build out our presence on the west coast and scale into the opportunities ahead of us. Her addition further helps QED deliver on its promise to support founders at the earliest stages of their entrepreneurial journeys and provide the best advice in fintech.”

Prior to joining QED, Victoria helped lead fintech investing at Gradient Ventures, Google’s early stage venture fund, where she worked with founders building the next generation of fintech and commerce tech in categories like insurance, e-commerce, application software transaction processing and core fintech infrastructure. Victoria started her career in tech M&A at Qatalyst Partners, advising founders in their sell-side processes on more than $20 billion in M&A transactions.

“I am thrilled to embark on the next chapter of my career with the best fintech experts in the industry,” said Victoria. “I am particularly excited to partner with founders that are passionate about the next generation of commerce, marketplaces and the broader SaaS monetization stack, and I couldn’t wish to be surrounded by a more highly regarded team of financial technology specialists.”

Victoria was born and raised in Nanjing, China, and continues to draw inspiration from the boom in commerce innovation in Asia.

Founded in 2007, QED Investors has invested in more than 170 companies, including 25 unicorns, and has $4.8 billion under management. In September 2021, QED announced it had closed a substantially oversubscribed $1.05 billion fund, including $550 million in QED Fund VII for early stage investments and $500 million in a new Growth Fund.

About QED Investors

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages our partners’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. Notable investments include AvidXchange, Bitso, ClearScore, Current, Creditas, Credit Karma, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly and SoFi.

Contact

Ashley Marshall
Director, PR and Communications
QED Investors
ashley@qedinvestors.com
(518) 577-9984

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01

Settlement Collapse

Value transfer moves from days - corresponding banking, T+1 securities - to seconds. Working capital tied up in float is released.

02

Cost Collapse

Marginal transaction cost approaches zero: fractions of a cent, versus 1-6% on card and corresponding rails.

03

Programmability

Money becomes an object that carries logic - escrow, splits, rebates, compliance - executed by code, not back offices.

Pure infrastructure with no revenue accrual

Layer-1 chains and general-purpose middleware — outside our circle of competence and typically outside our stage.

Speculative asset creation

NFT platforms, memecoins, prediction markets styled as products — mapping to none of the five functions; structurally uninvestable for us.

Three structural truths cut across all five functions.

(a)

Regulated-first wins

The 2020/21 cycle proved permissionless purity does not survive contact with real financial regulation. GENIUS, MiCA, CLARITY and the UK/Singapore regimes are producing founders who start from “how do we get licensed” and build backwards — precisely the founder profile QED has always preferred.
(b)

Incumbents upgraded, not disintermediated

JPMorgan, Citi, Bank of America and Wells Fargo are jointly building a tokenized-deposit network; Visa launched a stablecoin platform in July 2026; 140+ businesses signed an open stablecoin standard. Banks migrate — and new-generation infrastructure companies own the picks and shovels of that migration.
(c)

Emerging markets feel it first

Every function improves most where the fiat experience is worst: cross-border payments, dollar access, investment product availability, working-capital finance. Those are exactly the geographies where QED has fintech ventures’ deepest footprint. Our geographic distribution is not incidental to the tokenization thesis — it is the thesis.

Trade & working-capital finance

Finkargo( LatAm import finance) and OatFi(B2B working-capital infrastructure) sit directly on flows whose logical settlement layer is stablecoin.

Collateralized digital-asset lending

Tokenized Treasuries, equities and stablecoin holdings as instant, programmable collateral.

On-chain private credt

Maple, Centrifuge and emerging institutional protocols - credit funds migrating to programmable rails.

Why QED is advanced

Credit is QED's craft: distinguishing lending businesses from fintechs pretending to be one, charge-offs earned from charge-offs deferred. On-chain credit is a straight-line extension, not a stretch.