AMTD International, a subsidiary of AMTD Group, has established a joint venture (JV) with AMTD Digital, 36Kr, AM Capital, a JV in fund management between AMTD International and Xiaomi subsidiary Airstar Digital, as well as AMTD Group chairman Calvin Choi, to establish a full life-cycle service platform for China’s new economy enterprises.
The JV, named AK73 Capital, seeks to support and empower the next generation of new economy leaders to capitalise on the opportunities in dynamic global capital markets, says AMTD in a statement on SGX on March 12.
The new JV will offer one-stop professional services to address the needs of new economy companies and entrepreneurs. It will leverage on in-depth research and digital content creation, reads the statement.
“As Asia’s leading comprehensive financial services conglomerate, AMTD had in the past few years helped and supported many China's leading new economy companies in their IPOs and other financing transactions through the international capital markets including Hong Kong and US,” says Choi.
“We are very keen to combine our unique resources, SpiderNet ecosystem network, and unparalleled experience accumulated, through our partnership with 36Kr and Airstar Digital, to further empower the next generation of technology and innovative communities in China, best equip the Chinese business leaders of tomorrow to create new paradigm of business formats and exposures, and grow together to create a better world,” he adds.
“As a service platform for China's new economy participants, 36Kr is excited to partner with and Airstar Digital to jointly establish AK73 Capital. We believe, drawing on a wide range of resources and power of each shareholder, AK73 Capital is going to serve as a bridge connecting resources and capital, accelerate the sharing and exchange of information, talent, capital, and business opportunities across different new economy communities, and redefine the growth driver and potential in new economy services space,” says Dagang Feng, CEO of 36Kr.
“Since the first day of its establishment, Xiaomi believes in the power of value, whether it’s entrepreneurship or investment in Xiaomi’s ecosystem, Xiaomi has always persisted with its mission to let everybody enjoy better life experience brought by technology. This is a big era for China's new economy, and we look forward to working with each stakeholder to help more technology and innovative entrepreneurs build a better future,” says Weixing Zhao, vice president of Airstar Digital and chairman of AM Capital.
Shares in AMTD closed flat at $14 on March 12.
