Sun Hung Kai & Co., a Hong Kong-based alternative investments firm, has committed $15 million to global technology venture capital firm E15VC.
This follows the announcement two weeks ago of SHK & Co.’s $150 million 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 $32 million. Hong Kong-based E15VC’s inaugural fund invested in entrepreneurs in tech, healthcare, and deep tech. Its portfolio companies include Vicarious Surgical, HomeBay, Frankie and Auris Health.
Lindsay Wright, CEO of fund management at SHK, said, “We have confidence in [E15VC] 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.”
Philip Liang, managing partner of E15VC, said, “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.”
Lee Seng Huang, group executive chairman of SHK & Co., said the firm’s objective is to build out a leading Asian-based alternative investment platform. “Our focus is on attracting solid and capable teams with whom we can form long term partnerships,” he said.
E15VC was founded in 2017 by Liang who has an entrepreneurial background in architectural engineering and design, smart cities, and health sensors.
Since its establishment in 1969, SHK & Co. has owned and operated platforms in financial services to build long-term capital growth for its shareholders. Among its properties are consumer finance firm United Asia Finance. In November 2020 it sold its remaining stake in Everbright Sun Hung Kai Company. The Group currently holds about HK$43 billion in total assets as of 30 June 2020.
Despite the shared name and heritage, SHK & Co. has a separate management and shareholder structure from Hong Kong mega real-estate developers Sun Hung Kai Properties. SHK & Co. is owned by another investment fund in Hong Kong called Allied Group.