Who Are We?

We are a single family office headquartered in Hong Kong. The motivation behind our establishment overlaps with that of an entrepreneur – to take control of one’s destiny by building a durable enterprise that creates value for stakeholders in an ecosystem – to obtain sovereignty and build enterprises that can last generations.

Our Investment Approach.

We believe the qualities of a successful investment strategy resembles that of building out a successful enterprise, and we look to partner with founders who employ the same principles.

Building businesses is hard. Getting a business off the ground is hard – even for those who succeed in doing so, the average half-life of a company is probably less than 10 years. We believe the chief task of the stewards of a company is therefore to articulate and implement a strategy that lengthens the lifetime of a company, and that such successful stewards often demonstrate the below qualifies:

1. Crystal clear thinking – ability to articulate clearly a strategy of how to build up the defensibility and durability (i.e. moat) of the business, and/or increase the optionality of the business by experimenting with new business opportunities that seeks to capture a greater share of existing market or address a new market.
2. Probabilistic thinking – an appreciation of uncertainty. As Henry Singleton said, “I know a lot of people have very strong and definite plans that they’ve worked out on all kinds of things, but we’re subject to a tremendous number of outside influences and the vast majority of them cannot be predicted. So my idea is to stay flexible. My only plan is to keep coming to work every day. I like to steer the boat each day rather than plan ahead way into the future.”
3. Durability – a relentless focus on improving the durability and defensibility of the business, often times not by re-inventing the wheel but by re-using time tested basic principles – like the idea of “scale economies shared” enunciated by Nick Sleep, and preached by Warren Buffet earlier on, and implemented ferociously by Nebraska Furniture Mart, Borsheims Jewelry, Costco and Amazon etc..
4. Optionality – a culture that encourages experimentation and an awareness to build out complementary business – such that there are multiple engines to propel the company forward.
5. Risk management – ability to manage risk. Be it in private or public markets, price volatility is not risk. Risk for an investor is the permanent loss of capital. Risk for an enterprise lies in the daily operational issues (that almost never makes it way to the news headline) but can actually cripple a company.

Partnering with us.

If the above rings a bell, please do not hesitate to reach out. We do not silo ourselves into any particular “sector” or “strategy” and are completely opportunistic.

The price just needs to be right.