Roy and Bertrand Sosa, two incredible entrepreneurs that started NetSpend, announced a $100M fund for emerging companies under the name MPower Ventures. Their first investment, something called MPower Labs which is the research and development arm. From the website’s front page:

MPower Labs is a global research and development incubator and business accelerator serving MPOWER Ventures and its portfolio companies. By providing technical expertise for product development and incubation as well as direct business operations, MPOWER Labs enables the portfolio companies to rapidly scale operations and enter the market. MPOWER Labs focuses primarily on the global financial services market that currently excludes more than 2 billion people around the world from access to basic financial services. MPOWER Labs is headquartered in Austin, Texas with offices in Mexico City, Mexico, and Dublin, Ireland.

While the website doesn’t say anything about funding technology companies, surely there’s got to be some techologies that could help further their mission. Like any fund I’m sure they want to build this into a profitable venture, but the incubation and early stages are starved for capital, and this is a great opportunity for good ideas to get a major boost.