A new platform targeting mass-affluent individual and institutional investors from China launched today.
MarketX provides Chinese investors with access to alternative American investments ranging from pre-IPO shares in hot tech startups, theme-driven portfolios, real estate investments and high-yield income products.
The company is targeted the Chinese middle class, which McKinsey & Co. projects to be 76 per cent of urban populations by 2022, after being just four per cent in 2000. More than four in five want to globally diversify and hold ten per cent of their wealth outside China.
MarketX offers customized theme portfolios including medtech, health, transportation, AI, and IoT. Investments can be made based on geography, specific VC firm or by founder.
Founder Cathryn Chen has worked for JP Morgan, Deutsche Bank and Rothschild in Hong Kong, London and New York. She spent the last two years developing the MarketX platform.
“There is substantial demand for Asian cross-border investment,” Ms. Chen said.
“MarketX creates an intuitive online platform that connects a growing capital pool in China with lucrative, vetted, high-quality investment options here in the United States. MarketX is a global platform, so people and institutions from China, Hong Kong, Singapore as well as those living in the big Asian communities in San Francisco, New York, Los Angeles, Vancouver and Toronto can get access to not only investments but also qualified advisers and top-shelf investment education.”
MarketX works with more than 8,500 entities and has more than 30 asset partners. Its Chinese stats include connections with more than 600 entrepreneurs worth in excess of $45 billion and has more than 300 institutional partnerships with other entrepreneurs. Minimum investments vary by product and client goals.
It has access to more than 40 secondary markets in the United States and has partnerships with the Angel Capital Association of America and the European Business Angels Network. MarketX has offices in Shanghai and San Francisco.
Angel Club provided $1.6 million in seed funding, a serial entrepreneur group based in China with members including former Google China chairman Kai-fu Lee and former Tencent COO Liqing Zeng.