Hong Kong marked its first de-SPAC listing as Singapore-based Synagistics, an e-commerce solutions provider, merged with Hong Kong Acquisition Corporation to debut under stock code 2562. The transaction underscores Hong Kong’s expanding listing landscape post-2022 SPAC regulation. Backed by US$70 million (HK$551 million) in PIPE investments and key investors like Alibaba and Gobi Partners, Synagistics aims to expand into China, reinforcing Hong Kong’s status as a global financial hub with diverse pathways to public markets.
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DCAP, founded in 2020 by Sonia Ng and Wilson Kok, uses Artificial Intelligence (AI) and Machine Learning (ML) to provide credit solutions tailored to lower-income individuals, addressing critical financial needs in underserved communities. This investment supports Khazanah Nasional’s Dana Impak mandate to foster social mobility and expand essential financial access, empowering more Malaysians to improve their livelihoods.
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The Hong Kong-based biotech company, GenEditBio focuses on precision genome editing to provide affordable "precision DNA surgery" for genetic diseases with unmet needs. Co-founders Prof. Zongli Zheng and Tian Zhu expressed confidence in the Gobi GBA partnership’s impact on their mission to deliver transformative therapeutics.
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COLABS, a thriving platform for entrepreneurs with over 5,000 seats across 10 locations, has partnered with 250+ ecosystem enablers, including Google Cloud, Amazon Web Services, Redbull, and Spotify, while supporting hundreds of businesses, including global giants such as EY, Endeavor, and Coca-Cola. With total funding exceeding US$5 million, COLABS is poised for strategic expansion into Saudi Arabia and the MENA region, building on its fivefold revenue and workspace growth and net profitability.
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The investment from Gobi Partners through the Dana Impak Ventures fund, backs JAZRO's mission to expand robotics education for young learners. Founded in 2020, JAZRO addresses gaps in Malaysia’s robotics programmes and has reached over 50,000 students with an inclusive curriculum. This investment will allow JAZRO to broaden its educational offerings, inspiring a new generation of tech-savvy innovators and reinforcing the value of accessible education in the digital economy.
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Launched in August, the AI Academy aims to accelerate AI-driven innovation, offering participants over 170 hours of mentorship, up to US$350,000 in Google Cloud credits, and networking opportunities with AI experts. Fatima Gobi's portfolio company, AdalFi is enhancing financial inclusivity in Pakistan with its AI-powered credit scoring system, while Adlytic AI is transforming retail analytics. This programme positions Asia-Pacific as an emerging hub for AI development.
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OneDegree retained its position as Hong Kong’s top-grossing virtual insurer for the second year, achieving 59% year-over-year growth in gross written premiums, surpassing US$23.04 million (HK$180 million) in 2023. A commitment to digitalisation and cost-saving measures boosted financial performance by 40%. The company also experienced strong growth in pet, fire, and home insurance, along with rising customer satisfaction and expanded cross-selling opportunities.
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Realeague hosted the first APAC Women’s Basketball Challenge, uniting top teams from Mainland China, New Zealand, and South Korea to celebrate athletic excellence and promote diversity, equity, and inclusion in sports. Through partnerships and community engagement, Realeague created an inclusive platform to showcase the potential of women’s basketball in Asia, inspiring future athletes and fostering the sport's regional growth.
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Gobi Co-founder and Chairman Thomas G. Tsao discussed the region’s shifting investment landscape at Hong Kong FinTech Week 2024 (HKFTW), underscoring Gobi’s strategic focus on emerging markets in Southeast and South Asia. Highlighting how U.S.-China relations are reshaping investment strategies, he advocated for prioritising these regions while questioning the safety of U.S. investments for Chinese investors. Thomas outlined Gobi’s expanded vision of connecting East Asia to West Asia, particularly targeting Pakistan and the Middle East, and noted Hong Kong’s evolving role as a financial hub linking investors to Southeast Asia.
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