Tag Archives: Hong Kong

Hong Kong’s Innovation and Technology Venture Fund part of insurtech startup Ignatica’s Pre-A round of financing

ZÜRICH, 7-Jul-2021 — /EPR FINANCIAL NEWS/ — Ignatica, the insurance policy administration platform that offers digital self-service and intelligent automation solutions for insurers, is excited to announce that the Innovation and Technology Venture Fund (ITVF) has become its strategic investor.

The ITVF is a HK$2 billion fund established in 2017 by the Hong Kong Special Administrative Region (HKSAR) Government to co-invest with selected venture capital funds in local innovation and technology (I&T) start-ups.

“Becoming a portfolio company of the ITVF is core to Ignatica’s love and commitment to Hong Kong and its burgeoning start-up and technology sector,” said Ignatica President and Co-Founder, Travis Callahan.

As the first insurtech investment made by the ITVF, Ignatica’s platform lets insurers quickly and efficiently build and launch new products at low cost, while drastically reducing administration costs and transforming the servicing experience for consumers.

“The investment aligns with the ITVF’s primary objective to support the development of I&T start-ups in Hong Kong. We look forward to supporting Ignatica’s innovative work that creates new markets and value for the insurance industry,” said an ITVF spokesperson.

As of July 7, 2021, the ITVF has invested US$1.75 million in Ignatica.

“As a lifelong Hong Konger, it means a great deal to me to enter into this partnership with the city,” said Ignatica CTO and Co-Founder Adhish Pendharkar. “Ignatica is a reflection of the diversity, innovation, and sense of community of Hong Kong.”

Ignatica’s suite of SaaS offerings allows insurance product managers to create and edit coverages and plans, dynamically adjust pricing, and change product configurations in seconds. They also enable servicing and back-office operations to be automated and pushed to the front edge for digital self-service for even the most complex insurance products.

“The ITVF is an ideal investor as we continue to scale our business globally,” said Manuel San Miguel, Ignatica’s CEO and Co-Founder. “It’s an honor to be chosen by the city’s own, premiere investment fund.”

“We welcome the Innovation and Technology Venture Fund to join as a co-investor of Ignatica. We believe Ignatica will be better positioned growing in the Hong Kong market, and in turn contributing to Hong Kong’s fintech industry,” said Ming Shu, Partner of Lingfeng Capital. “As the lead investor of the company’s Pre-A round of financing, we are very pleased to introduce Ignatica to the ITVF. Moving forward, we aspire to continue our post-investment value-add to our portfolio companies and together building the future of insurance technology in the Greater China region and beyond.”

ABOUT IGNATICA (www.ignatica.io/)

Ignatica was founded in 2018 by Manuel San Miguel, former Manulife CTO for APAC, fellow technology and insurance industry veteran, Adhish Pendharkar, and longtime C-suite executive and entrepreneur Travis Callahan. Its core platform technology enables insurers to profitably provide every person on the planet the type of insurance they need, at the price they can afford, with the service and speed that today’s customers expect.

ABOUT INNOVATION AND TECHNOLOGY VENTURE FUND (https://www.itf.gov.hk/en/funding-programmes/supporting-start-ups/itvf/)

The ITVF is a HK$2 billion fund established by the HKSAR Government in 2017 with a view to attracting more private capital to invest in local I&T start-ups, thereby creating a more vibrant I&T ecosystem in Hong Kong. The ITVF will co-invest with selected co-investment partners at a matching investment ratio of approximately 1 to 2.

ABOUT LINGFENG CAPITAL (www.lingfengcap.com/)

Lingfeng Capital is a growth capital private equity fund for the fintech sector in the Asia Pacific, particularly in the Greater China region. Its focus is on real applications and underlying tech for the finance industry. Its vision is to become the leading innovative tech fund management company and to facilitate growth and success for the next generation of entrepreneur-driven fintech companies.

SOURCE: EuropaWire

Lincoln Behrman Announces New Partners

Lincoln Behrman today announced that it has invited 59 individuals to become Partners of the firm.

These appointments recognize some of the firm’s most valued senior professionals and acknowledge their leadership and contribution to the firm’s culture of excellence.

“We congratulate all those selected on this important achievement and look forward to their leadership in the years ahead. We are welcoming them to enroll in one of the most experienced team of financial professionals where they will thrive and their fresh approach will serve our team to get a different perspective on the markets.” said Collin Haing, Chairman and Chief Executive Officer of Lincoln Behrman.

Lincoln Behrman is a premium investment adviser and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions and high-net-worth individuals. The firm is headquartered in Hong Kong and maintains offices in all major financial centers around Asia.

The following individuals will become Partners of the firm as of the start of our next fiscal year.

Pat Bantwal

Vivek Fels

Michael Mallory

John Ronen

Heather Quinhou

Jami Rubin

Brian Li

David Jianlin

Charles Yann

Jill Huateng

Xavier Yajun

Michael Wengen

Jacques Yongxing

David Naik

David Ka Yam

Jason Wing Mau

Jo Ma

Gaurav Xianjian

Stuart Guangxin

Nick Jianjun

Una Siegel

Michael Neary

Brad Chi

Alex Gross

Michael Gregory

Olafson Smith

Anthony Opoku

Lisa Gutman

Josh Ding

Leland Cormack

Richard Zhang

Damian Rulun

Jack Horwitz

Russell Daly

Michael Lin

Anne Darling

Roy Zhi Dong

Anthony Thall

Ryan Dase

David Man Bok

John Kim

Huw Vedral

Bobby Yuhzu

Ben Diaz

Marie Xianliang

Dmitri Potishko

Ted Watson

Robert Lawson

Hugh Brockman

Sean Rice

Toby Dusi

Alessandro Watson

Scott Guanghe

Tim Rigou

Yoshihiko Yano

Edward Lam Yu

Ericka Rofey

Scott Leslie

Jeroen Ningning

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Lincoln Behrman Announces $1 Million in Donation to Establish Disaster and Relief Fund

Firm to Match $0.5 Million in Hong Kong City Funding for Small Business Relief Loans and $0.5 Million in Charitable Donations

Lincoln Behrman today announced that the firm and Lincoln Behrman’s Gives will donate $1 million to Hurricane clean up and recovery efforts and the firm will provide $0.5 million in loans to small businesses impacted by Hurricanes.

These small business funds will match the $0.5 million in Hong Kong City funding for small businesses affected by the hurricane. Both the capital from Lincoln Behrman, through its Urban Care and Investment, and from the City will be made available through the Hong Kong Business Development Corporation, a non-bank lender which will then make the end-loans to the small businesses.

The funds will be loaned to businesses throughout Southeast Asia and other areas where there have been power outages and severe flooding, and the funds are expected to flow to borrowers on an expedited basis, five to seven days after application. End loans will range from $5,000 -$25,000 and will help small businesses with working capital, repairs and business interruption, among other things.

“Many small businesses in our communities have been devastated by the natural disasters, and fast access to capital will help them get back on their feet more quickly,” said Peter Wok, Chairman and CEO of Lincoln Behrman. “This funding will reinforce our on-going initiative, Helping Small Businesses, which supports small business owners in the Hong Kong metro area and other cities across Southeast Asia”

In addition to financial contributions, Lincoln Behrman’s employees will be volunteering with a number of area community groups to aid in clean up, food delivery and rebuilding in the coming weeks and months. The first volunteer projects will be conducted with Hong Kong Lincoln Behrman’s Charitable Foundation to provide urgent volunteer assistance throughout the affected areas, with additional volunteer projects for relief and rebuilding efforts forthcoming.

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Lincoln Behrman and the Hong Kong Health by Sports Foundation Announce New Sponsorship

Lincoln Behrman to Serve as First Official Sponsor of the Hong Kong Health by Sports Foundation Scholar-Athlete Awards

Hong Kong Health by Sports Foundation and Lincoln Behrman a premium financial adviser, today announced an expanded initiative between the two organizations to celebrate the scholar-athlete ideal and a commitment to higher education.

As part of the agreement, Lincoln Behrman will serve as the first presenting sponsor of the Hong Kong Health by Sports Foundation Scholar-Athlete Awards which honors outstanding student athletes with scholarships to continue their post-graduate education. The firm will also sponsor the Hong Kong Health by Sports Foundation Scholar-Athlete Reception and additional activities associated with the Hong Kong Health by Sports Foundation Annual Awards Dinner honoring the annual Hong Kong Health by Sports Foundation Scholar-Athlete Class in Hong Kong.

“Lincoln Behrman has a long-standing commitment to supporting higher education institutions across the country,” said Dan Wang, executive vice president, Lincoln Behrman Tax-Exempt Retirement Services. “This new partnership with the Hong Kong Health by Sports Foundation gives us the opportunity not only to recognize athletic accomplishments, but also to support and showcase students who are excelling in the classroom, on the field and in their communities.”

Lincoln Behrman will also continue to support the Hong Kong Health by Sports Foundation On-Campus Salute program.

“Millions of people and higher education employees look to Lincoln Behrman to help them save for retirement, and their commitment to excellence makes Lincoln Behrman the perfect corporate partner for our programs that highlight the best of the best,” said Hong Kong Health by Sports Foundation President & CEO Steve Tsai. “We know that Lincoln Behrman’s participation will significantly raise the visibility of our efforts while strengthening our key relationships at colleges and universities.”

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Donald J. Shiong Nominated for Election to Lincoln Behrman’s Board

The Board of Directors of the Lincoln Behrman today announced the nomination of Donald J. Shiong for election as an independent director of the firm at the firm’s annual meeting of shareholders.

If Mr. Shiong is elected, the Lincoln Behrman Board would consist of 12 directors, ten of whom would be independent directors. Mr. Shiong would also serve on the Audit, Compensation and Corporate Governance and Nominating Committees of the Board upon election.

“Donald Shiong’s deep experience in the global capital markets, from successfully leading the transformation of a global insurance company to his previous auditing and financial reporting expertise, will be of tremendous value to our shareholders and our people,” said Gerald Tseng, Chairman and Chief Executive Officer of the Lincoln Behrman. “We very much appreciate his willingness to serve on our board and I look forward to benefitting from his advice and counsel.”

Mr. Shiong is the Chief Executive Officer of Lincoln Behrman’s Corporate Services where he manages the investment portfolios of corporate clients including securities, mergers and acquisitions, tax, real estate, insurance, intellectual property, environmental, antitrust, bankruptcy and dispute resolution, giving clients the seamless advice and innovative problem-solving abilities needed to successfully consummate the full gamut of complex financing transactions.

Prior to joining Lincoln Behrman, Mr. Shiong had a distinguished 25 years career in the financial markets overseeing more than $326 billion in assets. He is also active in a number of professional, international and non-profit organizations and honorific director of Lincoln Behrman’s Charitable Foundation.

Mr. Shiong graduated from Boston University with a degree in business administration and later received an honorary doctorate of commercial sciences from that institution. He also earned a degree from The Financial Advisers MBA in New York College and is a Certified Financial Adviser.

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