[THE INVESTOR] BMY Group, a wealth management and financial media firm focused on Chinese investors and Australian businesses, has acquired a US$1.4 million stake in private investment platform Wholesale Investor.
With the deal, BMY has become the third-largest shareholder after Investec and founder Steve Torso. The group plans to work with Wholesale Investor to showcase Australian investment opportunities to potential HNIs and venture capital investors across Australia, China, Singapore and Korea.
Investec Australia managing ¬director Hein Vogel (left), Wholesale Investor founder Steve Torso (middle), and founder of BMY Group Eric Gao (right).
“We aim to be positioned as a gateway to the Asia-Pacific region for emerging companies, and this deal is a move toward that. This gives visibility to the deals for investors in Asia-Pacific,” said Wholesale Investor
Managing Director Steve Torso in an interview with DealStreet Asia.
Touching upon the business climate and the startup ecosystem in Australia, Torso added that the focus on technology and innovation has generated strong interest from all over Asia, including China, Korea and Singapore.
The investment from BMY, founded in 2009 by Eric Gao and Julius Wei, comes from its venture capital fund, which is currently raising US$50 million from high net worth Chinese investors to help Australian startups expand in the country. As part of the investment, BMY CEO Eric Gao has also joined the board of Wholesale Investor.
By Alex Lee (email@example.com)