Since 2014, WHub - Hong Kong’s biggest startup community platform and power connector comprising over 3,000 startups, has been fostering the startup ecosystem and providing startups with resources they need to grow, including know-how, visibility and talent, to create employment and build innovation. WHub’s founding team has now launched AngelHub, the new way to invest in vetted startups that are building the future.
“Entrepreneurs need to focus on what they do best: revolutionising the way we live, rather than fundraising. AngelHub’s experienced team and partners provide investors worldwide cutting-edge startups scaling in Asia. Investors can now be part of this digital (r)evolution and invest in innovative technology companies in a regulated, fully digitalised and efficient way.” says Karen Contet Farzam, Co-founder of AngelHub and WHub.
Kharis Capital, being the lead investor in this round, builds and manages direct investment partnerships backed by and dedicated to families and entrepreneurs with its focus on making long-term private equity investments. Its investment team brings years of investment expertise and has been actively investing in technology and companies of all stages, including in Asia. In Kharis Capital, AngelHub & WHub found not only a long-term and committed investor, but also a true partner with tremendous experience assisting companies and entrepreneurs achieving their dreams.
TNG has been the FinTech industry pioneer and the only financial service enabler for over 1.2 billion unbanked population in Asia through its various e-wallet and e-money platforms. Its Global E-money Alliance platform (“GEA”), an innovative and cutting-edge financial platform, currently covers Hong Kong and over 160 overseas countries, providing a variety of cross-country and cross-platform financial services. TNG is also a front runner in innovation and incubation, aiming to provide a one-stop service offering for FinTech startups via its newly launched platform "The Wall Street Factory" (“WSF”).
“We are thrilled to join forces with two amazing entrepreneurs who decided to disrupt the funding marketplace and bring real solutions to startups, very much in the spirit of our own disruptive investment model”, added Daniel Grossmann, Co-founder of Kharis Capital who will join the board. He is also, amongst others, a board member of Valtech and was on the board of Lazada.
Alex Kong, Founder and CEO of TNG, said, “AngelHub and WHub are the fixtures of the Hong Kong startup scene, having united groups of technology startups and being devoted to foster the growth of the startup ecosystem. This has formed strong synergies with TNG in fully utilizing our expertise and network in the Asian financial services market, so as to empower startups’ business development and future growth. Besides financial investment, we are committed to provide a strong platform and high quality financial services for the startup community, accompanying AngelHub and WHub to reach their goal of boosting startups across Asia.”
“The new US$3,000,000 investment into our holding company is an important validation of the AngelHub and WHub models and will enable us to further strengthen our offering, as we seek to expand the sister company WHub into the Greater Bay Area and regionally,” added Karena Belin, Co-Founder & CEO of WHub and Co-Founder & COO of AngelHub. “Together with Kharis Capital and TNG, AngelHub and WHub share common values and a big vision to further develop and passionately scale our platforms to become the connection hub of choice for entrepreneurs and investors alike.”
Karen Contet Farzam added “Previously, you could maximise your return by investing in listed companies. Today, it’s when you invest in private technology companies. With a USD 10,000 ticket size, at least 50 times smaller than what VCs offer, professional investors have access to a new asset class and can build a diversified portfolio, geographically and sector wise.”
Looking ahead, WHub will continue to foster the growth of startups and start to expand geographically in order to build bridges between startup ecosystems around the world and accompany startups to scale internationally. AngelHub will complement this mission by offering to democratise startup investing.
The new investment will be deployed across both AngelHub and WHub to further develop the business through geographical expansion, technology upgrades and talent acquisition as both companies build their offering and attract more customers and new investments to the platform.