CLSA Launches Accelerator for Fintech Startups in Hong Kongby Fintech News Hong Kong October 12, 2018
CLSA, capital markets and investment group in Asia launches AlphaLabs to provide early investing or help in developing early-stage fintech startups they deem disruptive.
CLSA is affiliated with China’s CITIC Group, a state-owned investment company. This decision comes from CLSA’s three-decade experience in the region’s financial services sector.
The key for AlphaLabs though, are transformative ideas and tech like artificial intelligence, automation, big data, blockchain, cybersecurity, digital assets and reg tech which to the new accelerator, are increasingly dislocating all aspects of the financial services industry.
CLSA CEO Jonathan Slone said:
“The financial services industry is going through an unprecedented period of technological change with emerging technologies both improving and disrupting established business models. This opportunity enhances CLSA’s strategy to deploy capital in a sector that is not only our native business but also one that is ripe with opportunities and in the region that CLSA knows inside out.”
AlphaLabs Founder & CTO, Max Nam-Storm said:
“We have established AlphaLabs to take advantage of one of the fastest growing and most transformative sectors in Asia by seeking, seeding and scaling early-stage, Asia-focused, financial technology companies.”
“In October 2018, AlphaLabs completed its second investment, providing funding to Epistema, an Israeli company that develops AI tools for knowledge collection and analytics in the enterprise with the aim to empower financial firms to make quicker and better-informed decisions.”
Featured image via CLSA