Beijing-based Venturous, Lioncrest merge to raise $200m for smart city fund

(L to R) Peter Tung, Valerie Chou, Benson Tam and Johan Riddergard

Venturous Global, formed by the merger between Beijing-based investment firm Venturous and Lioncrest Global, will create a capital pool worth $1 billion for backing China-focused smart city companies.

The billion-dollar cohort will comprise a $200 million Venturous Hero Fund to be raised by the Venturous Global along with $800 million that is expected to be generated in future co-investment opportunities, a statement announcing the Venturous merger said on Tuesday.

The vehicle – Hero Fund – aims to deliver asset-backed, venture-like returns on capital by investing in smart town real estate development and technology companies.

The merged entity claims that it will power the second transformation of China driven by smart urbanization and digitization.

“China is about to enter its second big transformation, which will be much faster and bigger than the first one. The perfect time to invest into China is now given the unstoppable trends of urbanization and technology advancements,” said Benson Tam, Chairman of Venturous Group.

The new entity with its roots in venture capital, private equity, venture development and a single family office aims to build 10 Smart Towns, touching 100 million people in China.

With offices in Beijing, Hangzhou, Hong Kong and Singapore, it provides unique access to China’s second transformation driven by rapid urbanization, digitization, IoT, AI and 5G.

Tam, an industry veteran in China and Asia, founded Venturous in 2013. Before Venturous, he co-founded and built Fidelity Asia Ventures that grew into Fidelity Growth Partners Asia and is now Eight Roads Ventures.

Meanwhile, Lioncrest was an investment advisory firm that provided high net worth families and single family offices access to alternative investments, real estate projects and individual venture capital opportunities.

The company was founded by three colleagues from UBS Wealth Management: Peter Tung, Head of UHNW Greater China, Valerie Chou, Head of Global Family Office for Asia Pacific, and Johan Riddergard, Head of APAC CEO Office.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.