Endowus completes additional raising of HK$136mn, new investors include Lin Shuhao's company
1min read Endowus, Asia's wealth management platform, announced the completion of an additional HK$136 million (US$17.5 million) raise, bringing the total raised in its latest round to HK$410 million (US$52.5 million), and the total funding raised since inception to over HK$850 million (US$110 million). New investors include OSK Ventures, a Malaysia-based venture capital firm, and Asia Companion Fund (ACF), managed by The Wells Investment and JLIN LLC. JLIN LLC is a mission-driven company founded by international basketball star Jeremy Lin, dedicated to promoting social development.
This is ACF's first investment in Asia's fintech sector. The round also saw participation from existing shareholders Prosus, UBS and MUFG Innovation Partners.
The funds raised will help Endowus continue to expand, further expanding its services in Hong Kong and Singapore, two major wealth centers in Asia. The focus is on significant investments in talent and technology, including the application of industry-leading artificial intelligence (AI) technology to enhance customer experience and operational efficiency.
Endowus will also work to expand its alternative investment products under the Endowus Private Wealth brand through partnerships with leading global fund companies such as Apollo, Ares, Blackstone, Blue Owl, Carlyle, EQT, KKR and Partners Group, providing more options for hedge funds and private market investors.
