Cyberport Macro Fund brings in HK$259 million of investments for four start-ups
During the first five months of 2020, the Cyberport Macro Fund (CMF)injected a total of HK$28.2 million into four Cyberport start-ups, at the same time raising co-investments of HK$231 million, making total capital raised at HK$259 million (US$33.4 million).
AQUMON, CapBridge, GetLinks, andOneDegree, which specialise in AI robo-advisory, investment syndication, HR technology, and virtual insurance respectively, received seed or Series A capital to bolster their growth.
Seeing global venture capital investments go low key in view of worldwide economic uncertainty, this latest round of funds raised is a vote of investors’ confidence in the potential of Hong Kong start-ups, in the prospects of digital transformation, and in the vitality of Asia economy.
The accomplishment also attests to the CMF’s ability to attract tech investors and drive deal flow for high-potential, high-growth start-ups, especially during these challenging times.
Since Cyberport established the CMF in 2016 with an initial funding of HK$200 million, CMF has already invested around HK$120 million into 16 projects and brought in nearly HK$676 million in co-investments. Four of the ten projects in which CMF has invested for at least one year have successfully completed the next round of financing in the capital market.
“The CMF has been playing a leading role in attracting more tech funds and driving co-investments so as to help outstanding digital tech enterprises obtain financing and bolster their business development efforts,” said Dr George Lam, Chairman of Cyberport. “Cyberport will continue to explore opportunities to invest in capable start-ups, creating more synergy and new impetus in Hong Kong’s venture capital market.”