STAMFORD, Conn. and HONG KONG, Oct. 16, 2024 – Eaton Partners, a leading global placement agent and fund advisory firm, and a wholly-owned subsidiary of Stifel Financial Corp. (NYSE: SF), has announced its successful role as the global exclusive placement agent for MindWorks Capital. The Hong Kong-headquartered venture capital firm, MindWorks Capital (“MindWorks” or the “Firm”), closed its fourth fund, MindWorks Ventures Fund IV L.P. (“Fund IV” or the “Fund”), with Eaton Partners’ assistance.
Fund IV, along with associated parallel and co-investment vehicles, achieved a final close exceeding $220 million. This successful fundraising elevates MindWorks Capital’s total Assets Under Management (AUM) to over $1.4 billion. The firm’s investments are strategically diversified across early-stage venture capital opportunities in Greater China, Southeast Asia, and on a global scale.
David Chang, Founding Partner of MindWorks Capital, commented on the fundraise, stating, “In a challenging fundraising landscape, particularly for Asia-based venture capital firms, MindWorks has been fortunate to attract a distinguished group of investors for Fund IV. Our investor base includes sovereign wealth funds, a university endowment, prominent asset managers, leading family offices, and numerous influential entrepreneurs from the new economy.” He further emphasized, “The successful completion of fundraising for Fund IV underscores the strength of our Pan-Asia platform and our consistent performance since our inception in 2013. We have a proven track record of supporting high-growth companies from their Pre-A to Series B rounds, including notable names like Lalamove, XTransfer, Finture, Panex, and Glints.”
Joe Chan, Managing Partner at MindWorks Capital, highlighted the firm’s strategic advantage: “While some venture capital firms focused solely on China have encountered difficulties in securing US dollar capital, MindWorks’ institutionalized cross-border investment strategy spanning Greater China and Southeast Asia has resonated strongly with global investors. These investors are actively seeking opportunities to deploy capital within the dynamic Asian markets.” Chan further elaborated on their regional focus, “MindWorks is deeply committed to the Greater Bay Area (GBA) nexus. Leveraging our strategic Hong Kong headquarters and extensive regional offices in Beijing, Shanghai, and Jakarta, we are ideally positioned to foster the growth of local entrepreneurs and facilitate the adoption of successful business models across the region.”
Jonathan Lee, Managing Director and Head of APAC at Eaton Partners, praised MindWorks’ performance and strategic positioning. “MindWorks Capital boasts an exceptional track record among Asia venture capital firms, particularly when considering the proportion of capital returned to investors from previous funds. This historical performance, combined with their unique Hong Kong nexus and Pan-Asian strategy, significantly differentiated MindWorks from other funds competing for US dollar fundraising in China and Southeast Asia.” Eaton Partners’ expertise in navigating the global fundraising market proved instrumental in connecting MindWorks Capital with the right investors to achieve this successful fund close.
About MindWorks Capital
Founded in 2013, MindWorks Capital is a venture capital firm dedicated to investing in and empowering Asia’s most innovative entrepreneurs as they build transformative companies. Headquartered in Hong Kong and operating with regional offices in Beijing, Shanghai, and Jakarta, MindWorks has a strong portfolio of successful ventures, including companies like Lalamove, XTransfer, Finture, Panex, and Glints. MindWorks Capital is committed to responsible investing as a signatory of the United Nations Principles for Responsible Investment (“UN PRI”) and collaborates with Hong Kong’s Innovation and Technology Venture Fund (“ITVF”) as a co-investment partner.
About Eaton Partners
Eaton Partners, a division of Stifel, stands as one of the world’s preeminent capital placement agents and fund advisory firms. With a history dating back to 1983, Eaton Partners has successfully raised over $140 billion for more than 190 differentiated alternative investment funds and offerings. Eaton Partners provides expert advisory and capital raising services to investment managers specializing in a broad spectrum of alternative strategies, including private equity, private credit, real assets, real estate, and hedge funds/public market strategies, across both primary and secondary markets. With a global footprint, Eaton Partners operates across North America, Europe, and Asia, providing localized expertise and access to a vast network of institutional investors.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. Eaton Partners Hong Kong, operating as Stifel Hong Kong Limited, is licensed as a Type 1 regulated company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are registered trademarks of Eaton Partners, LLC. © Eaton Partners, 2024. For further information, please visit https://eaton-partners.com/.
Stifel Company Information
Stifel Financial Corp. (NYSE: SF), headquartered in St. Louis, Missouri, is a diversified financial services holding company. Through its wholly-owned subsidiaries, Stifel conducts a wide range of banking, securities, and financial services. Stifel’s broker-dealer services in the United States are provided through Stifel, Nicolaus & Company, Incorporated, which includes its Eaton Partners and Miller Buckfire divisions, as well as Keefe, Bruyette & Woods, Inc., and Stifel Independent Advisors, LLC. Canadian clients are served by Stifel Nicolaus Canada Inc., and in the UK and Europe, services are delivered through Stifel Nicolaus Europe Limited. The Company’s affiliates offer comprehensive financial solutions encompassing securities brokerage, investment banking, trading, investment advisory, and related services to a diverse clientele, including individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust provide a full suite of consumer and commercial lending products. Trust and related services are offered through Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. To discover more about Stifel, please visit www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Media Contacts
Neil Shapiro, +1 (212) 271-3447
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