For immediate release: 25 January 2021, Hong Kong
Sun Hung Kai & Co. Builds Momentum by Announcing
US$15m in Investment in E15VC Fund Advisors
Sun Hung Kai & Co. Limited (SEHK: 86) ("SHK & Co.") today announces a partnership and commitment of US$15 million with global technology venture capital firm E15VC.
This follows the announcement last week of SHK & Co.'s US$150m seeding partnership with East Point Asset Management. Both have been conducted through SHK & Co.'s funds management platform.
This partnership closes E15VC's second fund at US$32m. E15VC has demonstrated a strong track-record from its first fund of investing in entrepreneurs who focus on addressing significant problems, in tech, in healthcare, and in deep tech. The Hong Kong-based firm has successfully invested in many innovative companies including Vicarious Surgical, Home Bay, Frankie and Auris Health.
Lindsay Wright, CEO of SHK funds management, said: "We are a broad-based alternative investment firm building a portfolio of partnerships. We are delighted to partner with E15VC. We have confidence in them following the success of their first fund, which showed they can generate deal flow through their access to leading entrepreneurs around the world and their ability to execute investments. We are impressed by E15VC's engineering and science-led investment approach and look forward to a highly successful partnership".
Philip Liang, Managing Partner of E15VC, said: "SHK funds management is a patient and long-term capital provider. They have the ability to warehouse deals, a strong understanding of the technological landscape and capital markets, and a vast network of investors and professionals. These factors make them the ideal strategic partner for E15VC."
He added: "At E15VC, we have a team of scientists and engineers who are entrepreneurs with a deep understanding of science and technology. Our investment approach is to partner with ambitious entrepreneurs who are building global companies that change the world, companies with technological acumen that think outside the box. We invest throughout the investment cycle from Seed and Series A to the pre-IPO stage."
SHK & Co., a leading financial services and alternative investment firm, is expanding its external partnerships, including seeding and providing acceleration capital as it grows its funds management platform. They have made two partnership announcements in as many weeks.
Lee Seng Huang, Group Executive Chairman of SHK & Co., said: "SHK funds management is securing partnerships across the spectrum of alternative investments to accelerate newly established firms. Our focus is on attracting solid and capable teams with whom we can form long term partnerships. Our objective is to build out the leading Asian-based alternative investment platform."
About Sun Hung Kai & Co.
Sun Hung Kai & Co. Limited (SEHK: 86) ("SHK & Co.", together with its subsidiaries, the "Group") is a leader in alternative investing headquartered in Hong Kong. Since its establishment in 1969, the Group has owned and operated market-leading platforms in Financial Services. Building on our rich heritage, experience and network, the Group aims to generate long-term capital growth for its shareholders through a diverse, yet complementary business model. It is the major shareholder of leading Consumer Finance firm, United Asia Finance Limited, and in November 2020 its remaining stake in Everbright Sun Hung Kai Company Limited was disposed of. The Group currently holds about HK$43 billion in total assets as of 30 June 2020.
For more information about SHK & Co., please visit its corporate website www.shkco.com.
E15VC is a stage and geographically agnostic Venture Capital fund founded in June 2017 focused on high Total Addressable Market opportunities sourced through decades of combined industry experience. Philip Liang, the Managing Partner, is an engineer, designer, and serial entrepreneur turned investor. He began his career designing concept vehicles with famed architect Frank Gehry at the MIT Media Lab. He was a founding member of the Smart Cities group, designing the MIT City Car which won the Times invention of the year award. Phil started Snif Labs which was licensed to Mattel. He founded General Sensing which developed sensors for healthcare systems, working closely with the World Health Organization. Phil founded Noon Home, where he successfully raised over $50M from David Bonderman, Lux Capital, Shasta Ventures, Data Collective and Dolby Ventures. In 2017, Phil moved into Venture Capital, founding E15VC.
For more information about E15VC, please visit its corporate website https://e15vc.com/.
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25/01/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.