Two decades into the new century, one of the major trends in the coming decade will involve the democratization of investment management – the wealthy families of the world are taking a direct interest in contributing to the capital needs of entrepreneurs and young businesses. More than 60% of family offices in Asia choose to invest directly, a higher proportion than elsewhere.
Tsangs Group (“the Group”), is at the vanguard of this new movement. Founded at the start of the 20th century, the Group has transformed from an erstwhile restaurant empire into a family office headquartered in Hong Kong with offices in London and an expanding footprint in China. Currently, there is an office in Shenzhen and a liaison office in Beijing, with more set to follow.
Today, there is no shortage of investment managers promising to unearth growing businesses, but it is important to find the right custodian. It is no longer enough to focus on short-term goals like pure profit maximization. There is a growing awareness that capital has a key role to play in the need to tackle inequality and limit damage to the environment. Furthermore, the outbreak of COVID-19 has forced family offices to review their portfolios, investment opportunities and strategies. In this “new normal”, we are prepared for the future market and, during this difficult time, there will be an obvious shift of investment to more liquid assets or instruments with lower risk and stable returns.
While marquee firms continue to have a role to play, family offices like Tsangs Group are becoming professionalized outfits offering value beyond capital through an integrated global team of multi-lingual finance and advisory professionals.
As family offices owe their wealth to businesses that were built from the ground up, many are intimately familiar with the challenges faced by new businesses. Often, it is part of family lore. As conscientious individuals, the younger generation of wealthy families around the world also want to make a difference through their capital.
The Group’s portfolio companies operate globally, and the main focus is in first-tier cities such as Beijing, Shanghai and Shenzhen and are involved in sectors like internet technology, fintech, electric vehicles, TMT, health tech, big data, blockchain, education, biotech, cleantech, food tech, material technology and artificial intelligence. For example, our investment in fuboTV, a streaming service for live sport, garnered significant upside as we achieved a 130X return (after two years) after the company’s debut on the NYSE in October 2020.
The Group has also been inducted into the Investment Association of China (IAC), an influential body set up by the National Development and Reform Commission (NDRC) in 2001, and has forged links with well-known state-owned enterprises, and other listed companies. Patrick Tsang, the Chairman of the Group, has been appointed as the vice-chairman of the New High-Tech Investment Committee at the IAC and will offer guidance to key policymakers in China.
“We are honoured and excited to join the Investment Association of China. We believe we can add significant value to the Association, especially from our global network and experience. We can help the Association to bridge to the West and help other Western companies enter the Chinese market. With our involvement, it creates synergy for both the Association and the Group. We take great pride in creating win-win situations and making a positive influence and a positive impact,” said Patrick Tsang, Chairman, Tsangs Group
Although location and sector agnostic, being involved so closely with a dynamic economy like China offers Tsangs Group valuable insights into the new normal. The Group makes use of its resources in the mainland and worldwide, bringing high-tech projects overseas, and enhancing the development of the technology industry of mainland China.
Bridging cultural barriers and paying close attention to policy developments also ensures the Group will play an important role in contributing to the convergence of norms inside China and the rest of the world.
fuboTV (OTCQB: FUBO) is the leading sports-first live TV streaming platform offering subscribers access to tens of thousands of live sporting events annually as well as leading news and entertainment content. fuboTV’s base package, fubo Standard, features a broad mix of 100+ channels, including 43 of the top 50 Nielsen-ranked networks across sports, news and entertainment (Primetime A18-49).
Continually innovating to give subscribers a premium viewing experience they can’t find with cable TV, fuboTV is regularly first-to-market with new product features and was the first virtual MVPD to stream in 4K.
fuboTV merged with FaceBank Group in April 2020 to create a leading digital entertainment company, combining fuboTV’s direct-to-consumer live TV streaming platform for cord-cutters with FaceBank’s technology-driven IP in sports, movies and live performances.
For more information, please visit: https://www.fubo.tv.
About Tsangs Group
Tsangs Group is an innovation-focused global family office that bridges East and West. Our mission is to invest in global opportunities that allow us to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.
Headquartered in Hong Kong, Tsangs Group has direct investments across the world, we seek out positive impact investments that reflect our values of innovation, sustainability, and togetherness. Our strategy is opportunistic and both sector and location agnostic.
From fintech to entertainment to space travel, we are always investigating, analysing, and supporting the cutting edge of global innovation and development.
For more information, please visit: https://tsangsgroup.co/.