{"id":39095,"date":"2023-10-20T15:00:45","date_gmt":"2023-10-20T15:00:45","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/melbourne-consultancy-for-wealthy-chinese-investors-launches-50-million-fund-to-find-offbeat-startups-startupsmart\/"},"modified":"2023-10-20T15:00:45","modified_gmt":"2023-10-20T15:00:45","slug":"melbourne-consultancy-for-wealthy-chinese-investors-launches-50-million-fund-to-find-offbeat-startups-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/melbourne-consultancy-for-wealthy-chinese-investors-launches-50-million-fund-to-find-offbeat-startups-startupsmart\/","title":{"rendered":"Melbourne consultancy for wealthy Chinese investors launches $50 million fund to find &#8220;offbeat startups&#8221;\u00a0 &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"332\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2016\/12\/Julius-Wei-and-Eric-Gao-BMYG-640x332.jpg\" alt=\"Julius Wei and Eric Gao - BMYG\" title=\"Julius Wei and Eric Gao - BMYG\"\/><\/div>\n<p>A Melbourne-based wealth management firm and consultancy is setting up a $50 million fund to link high net-worth Chinese investors with \u201coffbeat startups\u201d in Australia.<\/p>\n<p>BMY Group, led by co-founders Eric Gao and Julius Wei, has already raised $10 million at launch and is expecting\u00a0to close the round in mid-2017.<\/p>\n<p>The duo says there is a growing appetite among Chinese investors to diversify their portfolios from traditional asset classes like property, which is in turn forging new interest in startups and high-growth ventures.<\/p>\n<p>\u201cThere is a huge misconception in Australia that wealthy Chinese are only interested in buying property,\u201d says Gao.<\/p>\n<p>\u201cYoung investors want to take on more risk.<\/p>\n<p>\u201cThey are already on the hunt for new business ideas to support and this new fund will simply facilitate this.\u201d<\/p>\n<p>This fund will target pre-IPO companies in industries like consumer goods and clean technology.<\/p>\n<p>BMY Group is also planning to launch a second startup fund in 2017 aimed at early-stage ventures.<\/p>\n<p>\u201cWe want to provide our clients with opportunities already available to Australian investors, as well as give them a more local insight into what they are actually investing in,\u201d says Wei.<\/p>\n<p><em>Follow StartupSmart on<\/em>\u00a0<em><a href=\"https:\/\/www.facebook.com\/StartUpSmart\/\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>,<\/em>\u00a0<em><a href=\"https:\/\/twitter.com\/StartupSmartnow\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>,\u00a0<a href=\"https:\/\/www.linkedin.com\/company\/startupsmart\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn<\/a>\u00a0and <a href=\"https:\/\/itunes.apple.com\/au\/podcast\/starting-change-podcast\/id1154324497?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">iTunes<\/a>. \u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Melbourne-based wealth management firm and consultancy is setting up a $50 million fund to link high net-worth Chinese investors<\/p>\n","protected":false},"author":2,"featured_media":61430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39095"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=39095"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61430"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=39095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=39095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=39095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}