Singapore's RE Lee Capital launches alternatives program
Singapore-based RE Lee Capital has confirmed it will launch a series of alternative asset investment products across the next three months and commit up to $60 million to pre-seed technology start-ups.
RE Lee said it was responding to increasing demand for technology and alternatives exposure among Asian family offices and high net worth individuals (HNWI). LPs fitting this profile are expected to be sourced from industries including real estate, retail, and telecommunications. According to a release, preliminary engagements include Thai telecom conglomerate Benchachinda.
"In the coming decade, we will see a once-in-generation passing of the torch from the founding members of Asian business families to the next generation," Bao Vu, RE Lee's investment director said. "This transition comes at a particularly dynamic time where the world is seeing technology disrupting traditional businesses across many industries."
The firm's initial mandate will aim to make deployments as large as $2 million in as many as 30 start-ups during the next two years, especially in Singapore, Hong Kong, and Taiwan. Focus segments will include blockchain, smart buildings, energy management, video analytics, internet-of-things, and raw materials for electric vehicles (EV).
Under the plan, RE Lee's alternative asset suite will comprise three vehicles, including separate blockchain-related fintech and EV-focused programs, as well as a managed futures fund that will rely on a proprietary machine learning system to make investment allocation decisions. Portfolio companies will benefit from strategic partner connections in the form of access to business expertise and distribution networks.
RE Lee was founded last year by Calvin Lo, CEO of insurance brokerage RE Lee International, as a provider of tailored investment services for HNWIs in particular. The firm's strategy is underpinned by the view that Asia Pacific is a high-growth market for HNWI asset management and that HNWI wealth in the region is on target to surpass $40 trillion by 2025.
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