Li Ka-shing: Is there a single family office?

list of largest single family offices asia hong kong venture capital investments

Where does the fortune of Li Ka-shing come from?

Li Ka-shing is a Hong Kong business magnate, investor, and philanthropist and the former Chairman of the Board of CK Hutchinson Holdings. The firm operates as a multinational conglomerate consisting of five core businesses: ports and related services, retail, infrastructure, energy and telecommunications. The conglomerate operates in over 50 countries and secures Li Ka-shing the 1st place in the ranking of the richest people in Hong Kong with an estimated net worth of $34.3 billion. Furthermore, Li is one of the most influential entrepreneurs in Asia, presiding over a business empire with a diverse portfolio of businesses from a wide array of industries, including transportation, real estate, financial services, retail, and energy and utilities. His conglomerate company Cheung Kong Holdings is influential in many sectors of the Hong Kong economy and made up 4% of the aggregate market capitalization of the Hong Kong Stock Exchange.

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How did Li Ka-shing’s career develop?

In 1950, after learning how to operate a plant, Li founded a plastic manufacturing company in Hong Kong with personal savings and funds borrowed from relatives. He produced high quality plastic flowers at low prices. A few years later, Li grew to be the largest supplier of plastic flowers in Asia and made a fortune selling them. In 1958, Li decided to step into the real estate business and bought a lot of land and property in Hong Kong: Cheung Kong Holdings was born. It was floated on the stock market in 1972. Over the next years, Li Ka-shing expanded his business activities through the holding conglomerate to retail (A.S. Watson Group), asset trading (CK Hutchinson group) and internet/technology. He was able to make some really successful venture capital investments (e.g. Facebook, Spotify and zoom). In 2018, Li announced his retirement and passed the $100 billion company to his son, Victor Li.

Is there a Li Ka-shing family office?

Yes, there is. Horizons Ventures Limited, based in Hong Kong, serves as the private single family of Li Ka-shing and his family. It was founded in 1999 and since then, 249 active investments in companies have been made.

How does the Li Ka-shing family office invest?

Horizons Ventures Limited focuses, as the name suggests, strongly on venture capital investments in the Asia-Pacific region. Companies of interest provide a disruptive and technology-focused business model in the areas of media, telecommunications, healthcare, internet, platforms and FinTech. With his foundation, Li Ka-shing has donated more than $3.3 billion; over 80% has gone to Greater China.

This article is part of our detailed report “The Single Family Offices of Asian Billionaires and HNWIs“.

Picture source: Celvin Purnama

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