AngelHub, Hong Kong’s first equity crowdfunding platform, shortlists five start-ups for fundraising

AngelHub, Hong Kong’s first equity crowdfunding platform, has selected five start-ups out of 250 candidates to raise funds just two months after it was licensed by the city’s Securities and Futures Commission, its chief executive said last week.

Karen Contet Farzam, the company’s co-founder and CEO, said AngelHub aimed to help 100 start-ups raise funds over the next three years. While, on average, these deals are expected to raise between US$500,000 to US$2 million, some would also net up to US$5 million, she said in an interview.

“The AngelHub team has already done a string of due diligence on these start-ups’ business models, fundraising purpose and other issues. The start-ups had to meet and pass through an interview with an investment committee formed with experienced entrepreneurs,” Contet Farzam said.

“So far, we have selected about five out of 250 start-ups. They can now raise funds from the hundreds of professional investors who have signed up to our platform. The first deal may be reached soon,” she said.

The start-ups were from industries such as artificial intelligence, financial technology and logistics, and markets as diverse as Singapore, Israel and France.

Investing on AngelHub, on the other hand, is restricted to professionals with at least HK$8 million (US$US$1.02 million). Several hundred professional investors, including venture capital funds, family offices and high-net-worth investors, have signed on, the company said. It will charge fees from both sides if a deal is concluded.