China is the world’s most populous country. It has a continuous culture stretching back nearly 4,000 years and originated many of the foundations of the modern world. After stagnating for decades under the rigid totalitarian socialism of founder Mao Zedong, China reformed its economy along partly capitalist lines to make it one of the world’s fastest-growing, as well its leading exporter. China is now a major overseas investor and is pursuing an increasingly assertive foreign and defence policy. Because of those circumstances and the difficulties for foreign investors, many high net worth individuals have to set up investment offices in china in order to be able to participate in the market. With our recently released database of the largest single family offices in Asia we examined and identified some of them. Our results show that the most desired types of investments for single family offices in China are venture capital and private equity. With this article we want to present you three family offices, that have headquarters in China.
- 122 entries, thereof 92 with E-Mail address, 115 with executive names
- Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
- 23 columns included: Name, Family Name, Estimated Family Wealth, Detailed Investment Focus and exemplary investments, address, phone, e-mail, website…
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#1: YF Capital, Shanghai
YF Capital serves as the single family office of Jack Ma, a Chinese entrepreneur who founded the Alibaba Group. Originally, Jack Ma wanted to become an English teacher, so he studied English at Hangzhou Normal University. He already started his entrepreneurial activities by employing retired English teachers on a part-time basis. In 2006, he graduated from Cheung Kong Graduate School of Business. He earned his fortune mainly through the Alibaba Group, which he founded in 1999 together with 16 partners, his wife and 60,000 US dollars. Today, the company operates the online B2B platform of the same name and the online car dealership Taobao, making it the largest IT company group in China with more than 66,000 employees and revenues of $56 billion. YF Capital is active in making private equity and venture capital investments in the internet, technology, healthcare, entertainment, finance and logistics sectors. Notable investment include, for example, include Whale Cloud and Cjia. Whale Cloud is a global leader in data intelligence technology, committed to helping corporate customers with digitalization. It provides quality solutions to telecom, government and other industry customers in more than 80 countries. Cija.com is a leading long-term residential apartment operator in China. It is committed to creating a modern physical space that integrates apartments, hotels and services for a new generation of young people in major cities in China.
#2: Wu Capital, Beijing
Wu Capital is the private investment firm of Wu Yajun, a Chinese billionaire businesswoman, and the world’s richest self-made woman. She is the co-founder, chairwoman, and former CEO of Longfor Properties. Before she graduated from the Department of Navigation Engineering of the Northwestern Polytechnical University in 1984, she had worked as a journalist and editor before moving into the real estate business. Her job at the China Shirong News Agency, which was controlled by a governmental construction bureau, proved essential for her in building up her network in the government and business world to then launch her career in the real estate industry. In 1995 she founded her real estate company Longfor Properties which grew rapidly, expanding from her home in Chongqing to include major cities like Chengdu, Beijing, Shanghai, Changzhou and Dalian. Today Forbes estimates her net worth around $16 billion. Her single family office, Wu Capital, constantly seeks for venture capital and private equity investments in the fields of high-tech, education, consumption and healthcare but also executes transactions on the capital markets (Funds, Bonds). An exemplary investment is Inipharm, a biopharmaceutical company focused on discovering and developing therapies for severe liver diseases. Another investment is Laiye. The company provides an AI interactive platform that offers consumers and enterprises with intelligent assistant products, developed with natural language processing, multi-turn dialog management, and context-based recommendation technologies. The company’s main product, Wulai, enables enterprises to build chatbots.
#3: Prometheus Capital, Shanghai
Prometheus Capital operates as the private investment vehicle of Wang Jianlin and his family. Wang is a Chinese billionaire business magnate, investor and philanthropist who founded the Dalian Wanda group, China’s largest real estate development company, and the world’s largest movie theater operator. In addition, he owns 15% of the Spanish football club Atlético Madrid. He made most of his wealth through the Dalian Wanda Group that he founded in 1992. The company was “one of the first shareholding companies in the People’s Republic of China” after the economic reform. Today his company owns 21.57 million square meters of investment property, 168 Wanda Shopping Plazas, 82 luxury hotels, 213 cinemas, 99 department stores, and 54 karaoke centers around China. Due to the fact that most of the income sources were directly affected by the corona pandemic, his net worth climbed from over $30 billion in 2017 to around $14 billion in 2020. His single family office Prometheus Capital focuses solely on venture capital investments in the TMT, consumer, healthcare, education, real estate and entertainment sectors. One of the most successful investments is Palantir Technologies which offers a suite of software applications for integrating, visualizing, fighting fraud, and analyzing information. The software allows analysts within and between government organizations to collaborate and to analyze large quantities of data.
Picture source: Zhang Kaiyv
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