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Cyberport Macro Fund invests in five Cyberport Start-ups
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Cyberport has invested into five Cyberport start-ups through Cyberport Marco Fund (CMF) over the past six months. The injections have successfully attracted co-investments from around the world and will help speed up the start-ups’ expansion to overseas markets.
The five start-ups receiving the capital injection cover FinTech and Smart Living clusters and have all shown strong adaptability and potential to scale during the pandemic. They include Cyberport’s first unicorn GOGOX specialising in smart logistics, Rice Robotics which develops autonomous robots at scale, Dash Living, a co-living community platform, Hex Trust which provides institutional custodian solutions for digital assets, and Lynk, a global experts matching platform. As CMF’s first investee back in 2017, Lynk received a follow-on investment this time.
The investments by CMF in Lynk, Rice Robotics, Dash Living and Hex Trust amounts to a total of HK$14.87 million (US$1.92 million) These capital injections have brought in extra co-investments amounting to HK$154 million (US$19.92 million), which add up to a total amount of fund raised by the four start-ups to HK$169 million (US$21.84 million). CMF also made a noteworthy investment in GOGOX, Cyberport’s first unicorn, co-investing with BOCOM International and other strategic investors and funds to close approximately US$100 million in total funding.
Dr George Lam, Chairman of Cyberport, said, “During the COVID-19 pandemic, exciting novel ideas emerged from many start-ups in the innovation and technology industry, including the five start-ups receiving investments this time, and they showed strong adaptability and potential to scale, which created many new opportunities. The capital injection from Cyberport Macro Fund will further accelerate these start-ups' development and attract international investors, speeding up their expansion to overseas markets. The injection of $200 million into the Cyberport Macro Fund and extension of its scope to cover Series B or later stage investments will reinforce Cyberport’s support for our start-ups’ fundraising capabilities and allow us to thrive in our role as a venture capital bridging platform. We will continue to seek out promising start-ups while driving co-investments to accelerate the vibrant development of Cyberport’s excellent start-ups.”
Aiming to accelerate the development of and strengthen the support for start-ups, Cyberport set up the CMF with an initial size of HK$200 million in August 2016 to provide seed to Series A stage funding to Cyberport start-ups in order to facilitate the overall development of entrepreneurship and angel investments in Hong Kong. This April, an additional HK$200 million has been injected into CMF and its investment scope has been extended to Series B or later stage funding to help promising start-ups’ further development. The CMF has so far invested into 20 start-ups.
More fundraising news from five other Cyberport companies - Animoca, Ignatica, Pickupp,, Clare.AI and CSX at (URL).
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Hong Kong Cyberport Management Company Ltd
香港數碼港管理有限公司
Level 6, Cyberport 2, 100 Cyberport Road, Hong Kong
香港數碼港道100號數碼港二座6樓
Tel 電話:: (852) 3166 3800 Fax 傳真: (852) 3166 3118 Email 電郵: enquiry@cyberport.hk
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