Transcend Partners with Crystal and SOCAM to Launch PropTech VC BetaBox
Transcend Capital Partners has recently launched a PropTech investment platform, BetaBox Ventures, in partnership with Crystal Investment (Crystal) and SOCAM Development Limited (SOCAM). BetaBox aims to invest in promising PropTech companies and support next generation PropTech entrepreneurs through funding, strategic guidance, and valuable industry connections. By joining forces with 2 key real estate industry players in Hong Kong, this joint-investment platform aims to foster growth and innovation in the PropTech ecosystem.
Crystal Investment is a property developer in Hong Kong and Mainland China, with over 30 years of experience investing and developing real estate. SOCAM is a public company listed on the Hong Kong Stock Exchange since 1997 and is a division of the Shui On Group that focuses principally on construction, property development and management, with operations spanning Mainland China, Hong Kong and Macau. The Investment Committee of BetaBox consists of members from Crystal and SOCAM, as well as the Hong Kong PropTech Association. CEO and CIO of Crystal – Nick Lo and Andrew Chan; Director of Corporate Development and Head of Smart Facility Management of SOCAM – Adrian Lo and Kevin Lee; Founding President of the Hong Kong PropTech Association – Vivian Chan; as well as General Partner of Transcend Capital Partners – Winnie Leung are to make up the core management team of the platform.
The global market for technology serving the real estate market, or PropTech, is estimated to grow from US$18.2 billion in 2022 to US$86.6 billion in 2032. Hong Kong, being one of the world’s most prominent real estate markets with the highest number of skyscrapers, poses a great opportunity for the deployment of PropTech. However, there is a lack of PropTech VC in the region, and PropTech entrepreneurs often struggle to seek the necessary resources and networks to grow their businesses. Seeing this gap in the market, Transcend Capital Partners launched BetaBox with Crystal and SOCAM to leverage the power of innovation to potentially disrupt the traditional real estate industry.
Transcend Capital Partners is committed to investing in transformative real estate, construction, energy and infrastructure technologies that have the potential to revolutionize the way people live, work and interact with the built environment. At Transcend, we firmly believe that sustainability and ESG considerations are key drivers of long-term value creation and continue to prioritize investments that are aligned with these principles. We look forward to participating in the groundbreaking innovations in PropTech through the launch of BetaBox. For more details, please visit the BetaBox Ventures website and their official press release.