Hong Kong technology venture capital (VC) firm Mindworks Capital will invest in startups across the Greater Bay Area and Asia, countering a prolonged downturn in private investment centered on China amid geopolitical headwinds. finalized a new US dollar fund for the
MindWorks said on Tuesday it closed a new US$220 million fund with investors including sovereign wealth funds, university endowments, asset managers, family offices and “many prominent Asian new economy entrepreneurs”. Announced.
The new fund, the firm’s fourth, will bring total assets under management to US$1.4 billion.
Despite some China-based venture capital firms finding it difficult to attract US dollars, the firm’s “cross-border, cross-region” investment strategy across Greater China and Southeast Asia This is resonating with multiple global investors seeking to deploy capital to the company,” Joe Chan, managing partner at MindWorks, said in a company statement.
Joe Chan, Mindworks Capital Managing Partner, in this Jan. 17, 2018 file photo. Photo: Xiaomei Chen
About 70 percent of MindWorks’ new fund’s investors are based in Asia, while about 30 percent are from Europe, David Chang, a founding partner at MindWorks Capital, told the Post on Tuesday. .
