Beyond Ventures
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Beyond Ventures is Hong Kong's most visible local VC success story, and they've got the trophy portfolio to prove it - four IPOs including SenseTime and Prenetics is legitimately impressive for a 2017 vintage fund. Lap Man and the team clearly have strong networks in both Hong Kong's research ecosystem and mainland China's growth markets, which explains their ability to spot winners like SenseTime early. However, this is very much a Hong Kong-centric fund with a 'From Hong Kong, For Hong Kong' mentality - great if you're building for Greater China markets, but they may not be your best bet if you're thinking global-first. The partners bring real operational experience (Lap Man built and exited DYXnet, Alex Fang has 18 years TMT experience), but founders should expect a fairly traditional Asian VC approach rather than Silicon Valley-style hustle.
- —Best for: Hong Kong/Greater China focused startups in AI, biotech, or hardware with university research roots
- —Watch out for: Limited global reach beyond Asia; may not be ideal for purely international plays
- —Known for: Strong government relationships, university connections, and legitimate track record of IPO exits
Revitalise Hong Kong's ecosystem of innovation by bringing together local venture capitalists and entrepreneurs to invest in new ideas and start-ups. Beyond Ventures focuses on investments in artificial intelligence, biotechnology, chips, consumer electronics and platform businesses.
Beyond Ventures has made 46 investments primarily in Series A and seed stage companies. Portfolio evidence shows focus on AI (SenseTime), biotech (Prenetics, GenieBiome), hardware/semiconductors (Smartsens), consumer platforms (YOHO), and SaaS/enterprise tech (respond.io, Mapxus).
Born in Guangzhou and raised in Hong Kong, Lap Man was educated at the Chinese University of Hong Kong and has become a well-known TMT entrepreneur and angel investor. He is founder of DYXnet Group, which is now a market leader in the provision of MPLS-based virtual private network, data centre and cloud services throughout more than 700 cities worldwide. The company launched in 1999, a year after Lap Man exited LinkAge Online – Hong Kong's largest enterprise Internet service provider – as shareholder and core management team member.
Seasoned local venture capitalist Alex Fang has been specialising in technology, media and telecoms (TMT) investment in Greater China for more than 18 years. He founded eGarden in 2000 and has presided over unprecedented wealth creation in partnership with top-tier venture capital funds such as Hony Capital, GGV, Lightspeed, China Renaissance, Sequoia Capital, Banyan Capital, Chengwei and Yuantai. Fang helped develop the mainland China market by exploring opportunities with a leading US-based funding group.
Seasoned entrepreneur Marvin Hung is Vice Chairman of Hung's Group and Executive Director and Chief Executive Officer of Hop Hing Group Holdings Limited (stock code: 47). After graduation, he embarked on an exciting entrepreneurial journey of innovation over two-and-a-half decades, which involved starting his own business in mainland China, where he has been building and managing enterprises ever since. More recently, he expanded his business interests by investing in retail-driven and technology-enabled companies, while engaging as an angel investor.
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