Publicly-listed Swiss investment firm Youngtimers AG has approved an offer to wholly acquire Hong Kong’s C Capital, an asset manager founded by Hong Kong real estate tycoon Adrian Cheng, per a company announcement on Monday.
Upon approval and completion of the merger, Youngtimers AG will be renamed C Capital AG and continue to be headquartered in Switzerland, focusing on investments in private equity and small or mid-cap listed equities in the more developed economies of East Asia and selectively in Europe, according to the statement.
C Capital AG will include 100% of the C Capital investment business originally co-founded in 2017 by Cheng as C Ventures before rebranding, primarily focusing on growth-stage companies in the consumer, technology, and blockchain sectors. It has backed more than 60 portfolio companies including notable names such as Animoca Brands, CASETiFY, Lalamove, NIO, Sensetime, and Shein.
Cheng will also assume the role of the new group’s non-executive chairman following regulatory approval of the merger, the statement said.
Last year, C Capital closed its third and largest private equity fund to date at over $250 million, garnering commitments from 20 new and existing limited partners including fund of funds, financial institutions, and family offices across Asia Pacific, Europe, and the Middle East.
More recently, the asset management firm led an $8 million pre-Series A round in Los Angeles-based fan club platform Stanly.
Headquartered in Basel, Youngtimers AG is an investment firm specialising in small and mid-cap listed equities in the media, e-commerce and lifestyle goods sectors.