Hong Kong Tycoon Adrian Cheng to List His Venture Fund in Switzerland
(Bloomberg) — Hong Kong property tycoon Adrian Cheng is listing his venture fund C Capital on the Swiss Stock Exchange through a merger.
The company will merge with Swiss-listed investment firm Youngtimers AG and the entity will be renamed C Capital AG upon approval and completion of the transaction, according to a statement Monday.
After the deal, C Capital AG will be based in Switzerland and will also include the full ownership of JAKOTA Index Portfolios Inc., a New York and Tokyo-based stock index licensing and research firm covering capital markets in Japan, Korea and Taiwan.
Co-founded by 44-year-old Cheng in 2017, C Capital, formerly known as C Ventures, has invested in more than 60 companies including ultra-fast fashion retailer Shein, electric vehicle companies Nio Inc. and XPeng Inc., and artificial intelligence giant Sensetime Group Inc. Upon completion of the merger, C Capital AG will have more than $700 million in assets under management, the statement showed.
The expected timeline of the transaction is unknown and further details will be published by July 31, according to the statement.
Cheng, a scion from Hong Kong’s prominent real estate clan that owns New World Development Co. and Chow Tai Fook Jewellery Group Ltd., is the executive vice chairman and chief executive officer of the property business. The Cheng family is worth more than $23 billion, according to the Bloomberg Billionaires Index.
–With assistance from Shirley Zhao.
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