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MindWorks Ventures

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Amendments made (14 Feb 2020):

  • Updated to full featured coverage from authority publications (please see citation 1)

Amendments made (12 Feb 2020):

  • Added Hong Kong government's reference and government official announcements from government's .gov website as requested.
  • Removed Forbes contributor and added Forbes Staff Writer article as requested.
  • Added more notable publications as requested eg. South China Morning Post (top English paper in Hong Kong) and Nikkei Review (top English paper in Japan)
MindWorks Ventures
Private ownership
ISIN🆔
IndustryVenture capital
Founded 📆2013
Founder 👔David Chang, Joe Chan
Headquarters 🏙️Hong Kong, China
Area served 🗺️
Total assets
  • Increase US$510milion (2020)
  • US$250million (2018)
  • US$80milion (2017)
Members
Number of employees
🌐 Websitewww.mindworks.vc
📇 Address
📞 telephone

MindWorks Ventures (also called MindWorks) is a private Hong Kong-based investment firm focusing on venture capital investments founded in 2014[1].[2] The firm is headquartered in Hong Kong with office in Beijing, Chinaand Jakarta. The firm is a Co-investment Partner of the Government of Hong Kong[3] through their Innovation and Technology Venture Fund under the Innovation and Technology Bureau.[4]

MindWorks invests in both early and growth-stage technology companies across Asia. Its investments span the software, logistics, finance, education and travel industries.[5]

Founding[edit]

Between 2006 and 2013, David and Joe actively invested in technology companies. During this time, the two became known as super angel investors and played a key role in the development of the venture capital industry in Hong Kong and Asia.[6][7][8] On December 28th, 2013, David and Joe launched their venture capital fund with an initial capitalization of US$12 million. In less than five years, the firm currently has US$510 million under management across three funds.[9][10]

Investments[edit]

MindWorks invest in early and growth-stage companies across China and Southeast Asia.[11] Notable investments includes 99.co, Lalamove, Dianrong, Glints, Qupital, Grana, Wonder Workshop and KKday.[12][13][14][15] [16]The firm’s growth capital investments focus on more developed companies that require a larger amount of capital to rapidly scale their business.[17]

References[edit]

  1. Lee, Georgina (2018-01-18). "Venture capital could produce the next Jack Ma or Pony Ma in Southeast Asia, says MindWorks". South China Morning Post. Retrieved 2020-02-14. Unknown parameter |url-status= ignored (help)
  2. Xu Elegant, Naomi (January 22, 2020). "China tech's venture capital boom is going cold". Forbes Staff Writer. Unknown parameter |url-status= ignored (help)
  3. "First round of Co-investment Partners of Innovation and Technology Venture Fund announced". www.info.gov.hk. Retrieved 2020-02-12.
  4. Lee, Georgina (2018-07-30). "Could red tape stifle interest in Hong Kong government's US$255 million fund for tech start-ups?". www.scmp.com. Retrieved 2018-08-09. Unknown parameter |url-status= ignored (help)
  5. "Fintech push — buffing up city's credentials". chinadailyhk. Retrieved 2018-06-04.
  6. "港人愛搵快錢 缺長遠眼光 - 20170417 - 報章內容 財經 - 明報財經網". 明報財經網 (in 中文). Retrieved 2018-06-04.
  7. "【Startup攻略】風投基金:香港貴租高人工成「試煉場」 出到外國一定掂!". Apple Daily 蘋果日報. Retrieved 2018-06-04.
  8. 李松. "Grooming Asia's first 'PayPal Mafia'|HongKong Business|chinadaily.com.cn". www.chinadaily.com.cn. Retrieved 2018-06-04.
  9. "Dearth of venture capital a hurdle for Hong Kong start-ups". South China Morning Post. Retrieved 2018-06-04.
  10. "Mindworks To Raise $100 Mln To Invest In 'Disruptive' Startups, Co-Founder Says". Nikkei Asian Review. Retrieved 2018-06-21.
  11. "Southeast Asia may be the place to find the next Jack or Pony Ma". South China Morning Post. Retrieved 2018-06-04.
  12. "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2018-06-04.
  13. "Online fashion retailer Grana raises $10M led by Alibaba's entrepreneurship fund – TechCrunch". techcrunch.com. Retrieved 2018-06-04.
  14. "Taiwan's travel marketplace KKday nabs US$7M to expand more in Asia". e27. Retrieved 2018-06-04.
  15. Limited, Haymarket Media. "Lalamove completes $100m fundraising". FinanceAsia. Retrieved 2018-06-21.
  16. Soo, Zen (2017-10-11). "Lalamove on track to become next start-up unicorn from Hong Kong". scmp.com. Retrieved 2017-06-04. Unknown parameter |url-status= ignored (help)
  17. "Logistics on-demand startup Lalamove raises $100M as it approaches a $1B valuation – TechCrunch". techcrunch.com. Retrieved 2018-06-04.

External links[edit]


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