Google's recent purchase of navigation and mapping app Waze for US$1 billion will be another boon to local tycoon Li Ka-shing.
He already cashed in this year when Yahoo! paid US$30 million for Summly - a news app created by young British-Australian programmer Nick D'Aloisio - which Li's Horizon Ventures had invested in.
Li's fund, which also invested in Facebook and music streaming service Spotify, was one of three parties that financed Waze to the tune of US$30 million in 2011.
His investment generated a buzz that the Israeli start-up hopes will help it break into the mainland market, where there are no significant mapping applications.
Waze runs on Apple's iOS and Google's Android mobile operating system and is similar to other mapping apps, also acting as a GPS for drivers.
Where it differs is that it leverages users' data to help build an accurate, real-time picture of traffic conditions. Users help by notifying other motorists of potential traffic slowdowns, roadworks, accidents, potential hazards and, of course, the police.