Fund to help S-E Asian start-ups tap China

Jubilee Capital Management aims to raise $142m, mostly from Chinese entrepreneurs

A new venture capital fund launched here last week aims to help South-east Asian start-ups tap the Chinese market. Called Jubilee Capital Management, the fund aims to raise US$100 million (S$142 million), mostly from Chinese entrepreneurs with an eye on international growth.

The fund was started by Chinese entrepreneurs Stanley Zhang and George Gong, and Singaporean Gan Fong Jek.

Mr Zhang, who has lived in Singapore for three years and is a permanent resident, founded domain name and hosting service provider HiChina Group in 1996.

Chinese e-commerce giant Alibaba bought a controlling stake in the company in 2009. In 2013, Mr Zhang left HiChina to become an angel investor and has since invested in 17 companies in Singapore, China and the United States.

Mr Gong, who lives in New Zealand, was the co-founder of IT services provider Beyondsoft in 1995. The company is now listed on the Shenzhen Stock Exchange.

(From left) Mr Zhang, Mr Gong and Mr Gan started the fund, which will be focusing on technology, media and telecommunications start-ups in Singapore, South-east Asia and China. ST PHOTO: DON CHI

Mr Gan has 20 years of experience in cross-border strategic and venture investments and has held senior investment positions in a number of large companies.

The fund will focus on technology, media and telecommunications start-ups in Singapore, South-east Asia and China, said Mr Zhang.

Given its significant resources in China, it also aims to help investee companies break into the Chinese market. "We have significant resources in China - most of our investors are successful Chinese entrepreneurs," noted Mr Zhang in Mandarin.

"We understand the Chinese market, and can advise Singapore companies keen on expanding there. We are also looking to help companies in China expand overseas."

A version of this article appeared in the print edition of The Straits Times on November 22, 2016, with the headline 'Fund to help S-E Asian start-ups tap China'. Subscribe