Hong Kong tycoon Adrian Cheng to list his venture fund in Switzerland

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 and the entity will be renamed C Capital upon approval and completion of the transaction, according to a statement on Monday (Jul 15).

After the deal, C Capital will be based in Switzerland and will also include the full ownership of JAKOTA Index Portfolios, 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 and XPeng, and artificial intelligence giant Sensetime Group.

Upon completion of the merger, C Capital will have more than US$700 million in assets under management, the statement showed.

The expected timeline of the transaction is unknown and further details will be published by Jul 31, according to the statement.

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Cheng, a scion from Hong Kong’s prominent real estate clan that owns New World Development and Chow Tai Fook Jewellery Group, is the executive vice-chairman and chief executive officer of the property business.

The Cheng family is worth more than US$23 billion, according to the Bloomberg billionaires Index. BLOOMBERG