Hong Kong is a global financial center and home to the fintech industry, one that has risen thanks to favorable regulatory conditions, a variety of supportive initiatives from authorities, and a vibrant investor community that supports the development and development of promising startups.
The data taken from Invest Hong Kong, which is the body of the government that is responsible for foreign direct investment (FDA) and assists overseas companies in establishing and expanding their operations in Hong Kong, shows that Hong Kong has now over 600+ fintech companies as well as five unicorns of fintech. In addition, Hong Kong is among the most avid technology users, and 86% of traditional banks are reported to be employing fintech-based solutions.
To better understand Hong Kong’s sector of fintech and the various players influencing the industry’s growth, we examine today those who are the top investors of Hong Kong’s Fintech industry.
Animoca Brands
In 2014, the company was founded. Animoca Brands is a Hong Kong-based gaming software company and a VC firm. It is a Deloitte Tech Fast winner and Financial Times High growing Companies in Asia Pacific 2021; Animoca Brands famous in blockchain technology, digital entertainment, and gamification.
The company creates and distributes an extensive range of products that include the REVV token and SAND token, REVV token and the SAND token, as well as original games such as The Sandbox and products that make use of popular intellectual properties such as , WWE, Snoop Dogg, The Walking Dead, Disney, Power Rangers, MotoGP.
Animoca Brands has an excellent growing portfolio of more than 170 investments in the non-fungible token (NFT)-related businesses and decentralized initiatives contributing to the creation of the open metaverse, such as Axie Infinity, OpenSea, and Dapper Labs.
As per Tech in Asia, Animoca Brands is the second-most actively investing in Hong Kong’s startup ecosystem participating in nine deals in the last 24 months. The latest investments comprise Hex Trust, Hong Kong startup offering custody services for crypto assets, along with Kikitrade Kikitrade, an investment platform that is socially oriented. Platform.
Kinetic Capital
Established in 2016, Kenetic Capital is a VC firm in Hong Kong specializing in blockchain technology.
This company is involved in projects focused on developing and accepting blockchain-based platforms and projects that deal with scalability, payment systems, and Blockchain protocols to transmit data.
Kinetic Capital also offers investment, market, and trading tips related to the cryptocurrency and blockchain industry. The company’s most significant investment opportunities comprise BlockFi, BlockApps, and Terra Money.
Based on Tech in Asia, Kenetic Capital has been involved in five transactions in Hong Kong these past 24 months, including Formation.fi A startup trying to transform the way Defi portfolios are constructed; Linear Finance is a cross-chain delta-one asset-management protocol decentralized and Hex Trust.
Innovation and Technology Venture Fund
The Innovation and Technology Fund (ITF) is directed by Hong Kong government’s Innovation and Technology Commission and is designed to boost the value, efficiency, and competitiveness of Hong Kong’s economic activities.
The government’s goal through the ITF is to assist and support Hong Kong companies in upgrading their technological capabilities and bringing new and innovative ideas into their businesses.
With its Venture Fund through its venture fund, It has been one of the top investors in Hong Kong’s fintech industry. Since the starting of 2021, the fund has participated in five rounds involving Hong Kong fintech startups, according to website, backing Aigniter, the operator of Jarvis, a consumer goods e-commerce platform with proprietary logistics and digital payment system; CW Capital, the operator of Qupital, a provider of trade finance services to small and medium sized enterprises (SMEs); Ignatica, a software as a service platform to help insurance companies launch and control customized insurance products; and FP International, the operator of FundPark, a trade finance platform.
Liberty City Ventures
Liberty City Ventures is a VC fund and incubator with more than US$1.5 billion in funds under administration. Based in New York City, Liberty City Ventures invests in businesses that create blockchain technology solutions and enterprises that implement Blockchain technology (seed by the Series D) with a particular focus on fintech, web 3.0 metaverse gaming, and logistics for the supply chain.
The company has the flexibility and ability to invest in sizes ranging from $250,000 to $100 million and more.
The company is located in Hong Kong, Liberty City Ventures has been among the 4 fourth most active investor in the startup community over the last 24 months, as per Tech in Asia, and has been involved in six deals, including the ones that involved Hex.
Alibaba Entrepreneurs Fund
The fund was established in 2015 and is now in 2015; Alibaba Entrepreneurs Fund is a not-for-profit venture launched through Alibaba Group to help entrepreneurs and fresh graduates achieve their goals and dreams. Two funds have been established to support entrepreneurs and young graduates in Hong Kong and Taiwan, respectively, to fund specific programs for each location.
The fund is located in Hong Kong; the HK$1 billion fund invests in young companies with breakthrough technology and businesses during the growth, startup, and expansion phases of the business’s lifecycle. It is focused on sectors and technologies that include big data, fintech healthcare, e-commerce, security as well as security, the Internet-of-Things as well as clean tech.
Alibaba Entrepreneurs Fund Alibaba Entrepreneurs Fund currently includes 34 companies, which have Airwallex, a payment platform for companies; Aqumon, a wealthy tech, and Robo-advisory firm; OneDegree, an insurtech player and WeLab, the Hong Kong virtual bank.
Since 2021, the Alibaba Entrepreneurs Fund has made at least two investments in fintech, including rounds completed by Qupital and Apoidea Group, an AI-driven automated financial media firm.
