Hong Kong business magnate Li Ka-shing’s investment firm, Horizons Ventures, is opening an office in Singapore to seek new deals and support venture companies looking to expand in Asia.
Up to 10 employees will be based in the Southeast Asian city, including senior investment manager Jacky Li, who focuses on deal execution, and portfolio curator Jeffrey Ho. A year ago, the company announced plans to increase its deals in the region, and this will be Horizons Ventures’ first office outside of Hong Kong, focused on supporting portfolio companies entering the market.
Horizons Ventures, co-founded by Li Ka-shing and his longtime confidante Solina Chau, is the latest high-profile investment firm and family office to establish a presence in Singapore, attracted by its low taxes, relative safety, and a pathway for the super-rich to obtain permanent residency (PR).
Many investors have left Hong Kong or expanded their operations to cities outside of it due to increasingly strict national security laws and COVID-related travel restrictions. However, Horizons Ventures stated that these were not the reasons for its move. Instead, its decision was driven by Singapore’s advantages as a hub for investors and regional expansion.
“We have about 23 investment projects in this region, and operating from this hub has become very important because everyone is here,” said Chris Liu, an Adelaide-based portfolio curator for Horizons Ventures. “It makes perfect sense to establish a hub in Singapore to help our companies create and identify strategic collaboration opportunities and partnerships to enter the Southeast Asian region.”
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Liu made these comments during a visit to Singapore with the founders of two portfolio companies—healthcare AI platform Harrison.ai and Loam Bio. With the assistance of Horizons Ventures, both companies have met with Singaporean government agencies and state-owned investors.
“Connecting to this region makes more sense in Singapore than in Hong Kong. Many of our co-investors are in this region, not in Greater China,” he said, citing Temasek as an example. He added that Australia is actually too far from Asia to serve as a regional base.
Li Ka-shing’s early fortune was built on infrastructure, telecommunications, and real estate. At the onset of the pandemic, his wealth surged due to high-tech investments made through Horizons Ventures in companies like Zoom Communications and Spotify Technology.
In October, Horizons Ventures will host its bi-annual Tech-cracker event in Singapore, inviting founders of its portfolio companies, co-investors, and guests.
Horizons Ventures is currently engaging with universities and professionals to explore investment and recruitment opportunities. Liu added that “well over $100 million” has already been deployed in their Australian investments, and a similar amount, if not more, is likely to be invested in Southeast Asia.
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