Great news for Hong Kong FinTech! Nova Founders Capital, a global Internet investment firm headquartered in Hong Kong, has raised US $50 million from Pacific Century Group (founded by Li Ka-shing’s son Richard Li and operates mainly in Hong Kong, Singapore and Japan). The funds will be used to back, build and acquire high-growth FinTech startups in emerging markets.
This adds to the strength of the booming local FinTech scene as 2014 has been a busy year for Hong Kong. Besides the FinTech Innovation Lab Asia-Pacific accelerator program that’s just kicked off at Cyberport, two of our startups have also raised impressive rounds of funding this year – DemystData raised US $5 million in Series A, while 8 Securities picked up $9 million in Series B.
For those unfamiliar with Nova Founders, it was founded by two former Rocket Internet managers Mads Faurholt-Jorgensen and Raphael Strauch. Also a pair of entrepreneurs, Faurholt-Jorgensen and Strauch have a proven track record of backing and growing 30+ tech startups in the past.