‘Beyond Fund 1’ IRR increased to 58% following repurchase
Hong KongAnd 27 July 2021 /PRNewswire/- What’s behind the projects?, a Hong Kong The venture capital firm and co-investment partner with the Innovative Ventures and Technology Fund (ITVF), had a 58% inner rate of return (IRR) on its first fund of September 2017 via June 2021Thanks to a strategic buyback combined with following funding rounds of our portfolio companies.
Since its inception in 2017, Beyond Ventures has committed itself to the local ecosystem of emerging startups Hong Kongand facilitating the growth of locally grown rhinos through influential project financing. All General Practitioners and Serial Entrepreneurs were born or raised in Beyond Venture Hong KongShe has a deep personal interest in the success of local startups.
ITVF is 2 billion Hong Kong dollars A fund established by the Government of the Hong Kong Special Administrative Region in 2017 to co-invest in local startups with select venture capital funds with a matching investment ratio of approximately 1 to 2, with the aim From Create a more vibrant ecosystem for innovation and technology in Hong Kong.
Beyond Ventures is ITVF’s most active and productive joint investment partner, both in terms of investment volume and number of joint investment projects. Together, they invested in ten of Hong Kong Dynamic startups, including YOHO and enabot. Invest in ITVF 7.9 million USD In these companies, which account for 52% of the whole amount invested in ITVF 15.29 million US dollars As of today in joint investment projects.
Lab Man, Co-Founder and Managing Partner of Beyond Ventures, commented on the recent success of the project fund: “ITVF is one of the most thriving startup programs launched by the HKSAR government to support the innovation and technology ecosystem in Hong Kong. The program can urge venture investors such as Beyond Ventures to take additional risks in investing in them Hong KongRelated startups, thus helping that potential Hong Kong Startups that are still in their beforetime stages, especially when they are in need of life and death capital.”
Continuing success across Beyond Ventures portfolio companies شركات
Some of the companies investing in Beyond Ventures and ITVF have applied to following funding rounds, and even potential public listings. The book value of the 10 invested projects has increased to 265% of the investment cost. Thus, the buyback from ITVF brought in over 150% written gain to Beyond Ventures Fund I.
Beyond Ventures exercised the buyback option and paid only the cost of the ITVF investment plus the accrued interest of ten co-invested startups. The specified interest rate was 3.7% final year, and 2.9% in 2019. Together with the suffix Funding rounds from our portfolio companies, Beyond Fund I achieved an unprecedented inner rate of return of 58%.
Smartsens and YOHO were the two portfolio companies that filed for IPOs with the Shanghai Stock Exchange’s Scientific and Technology Innovation Council (STAR Market) and the main board in Hong Kong while Prenetics plans 1.3 billion USD Merger with Artisan Acquisition, a Special Purpose Acquisition Company (SPAC) backed by Adrian ChengCEO and Executive Vice Chairman of the Board of Directors Hong KongThe conglomerate is listed as New World Development. This provides Beyond Ventures a potentially profitable exit strategy for three companies in the next three to 12 months.
“We were very pleased to have Beyond Ventures and ITVF as Pre-A Series investors, due to their funding تمويل Assist We’re walking through the valley of death.” Hong Chuenabot, co-founder of the robot family resource company enabot “The funding has enabled us to launch our first product – Ebo via Kickstarter. The revenue generated has allowed us to pursue research and development and market expansion, while also attracting talent to our management team. All of this, along with a roadmap Product concrete, then enabled us to attract top-tier venture capital firms such as Sequoia Capital and LFC to be our Class A investors.”
About Beyond Ventures
Led by Labman, Alex Fang, And Marvin Hong, Beyond Ventures is a file Hong KongA venture capital based company. Beyond Ventures started in 2017, and has been popularly supported by celebrities Hong Kong Listed companies such as Hop Hing Group, Far East Consortium and Chinney Alliance Group, and leading PE investment management firms Hony Capital and GAW Capital.
The name “Beyond Ventures” originated from the popular band Beyond Rock-and-Roll in the beforetime 1990s. Hong Kong. We aspire to revitalize and transform the city’s innovation ecosystem through presence Hong Kong Most Influential Venture Capital Company. By uniting venture capital experts and local conglomerates with visionary entrepreneurs, we provide startups with the capital and direction they need to prosper.
Our portfolio includes unicorn startups like SenseTime, Smartsens, Prenetics, YOHO, etc.
Please go to www.beyondventures.hk For more information on Beyond Ventures.
SOURCE Beyond Ventures