Alibaba and Lenovo both took part in a series B round for the digital wealth manager incubated at Hong Kong University of Science and Technology.
Magnum Research, the China-based operator of online wealth management platform Aqumon incubated at Hong Kong University of Science and Technology, has closed a $30m pre-series B round.
E-commerce group Alibaba’s Hong Kong Entrepreneurs Fund and consumer electronics producer Lenovo’s subsidiary Lenovo Capital took part in the round.
The two corporates were joined by investment manager Zheng He Capital Management, Wing Lung Family Office and Cyberport, a government-backed business park located in Magnum’s home territory of Hong Kong.
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