Starlight Capital, a China-based venture capital group founded in 2021, has picked Apex Group to provide it with fund administration and corporate services, the companies announced on Monday.
Apex, active in the Luxembourg fund services ecosystem also with FundRock and LRI Invest, said it will service Starlight’s latest funds and provide it with its eFront software solution that will enhance efficiency and reporting transparency through a robust and scalable platform.
Starlight Capital was founded by Tao Tang, co-founder of Eastern Bell Capital, a growth equity firm based in Shanghai. Starlight was created a year ago as a spin-off from Eastern Bell that would focus on yuan- and dollar-denominated early stage funds. The group wants to assist entrepreneurs in logistics, supply chain, enterprise services, and retail technology industries.
“Apex’s single-source solution presents a compelling offering – allowing us to efficiently access all the fund and corporate services we require, through one service provider relationship,” said Tang.
Searching for unicorns
Tang and his team at Eastern Bell managed more than two billion renminbi in assets, or close to 300 million euro, and have made investments in more than 70 portfolio companies. More than ten of these have grown into unicorns. Starlight Capital raised its very first renminbi fund last summer. Currently, it is actively raising its first dollar fund.
“This appointment demonstrates the flexibility of the Apex model and our comprehensive range of services which deliver seamless support for funds throughout all stages of their fundraising and investment lifecycle,” said Amber Lo, head of business development north Asia for Apex.
“Apex’s services will allow Starlight to focus on their core purpose: raising and investing capital in early-stage opportunities to grow China’s digital economy and generate returns for their investors.”
Apex, established in Bermuda in 2003, is a global financial services provider with over 50 offices worldwide and 8,000 employees upon the close of announced acquisitions. Its FundRock unit in Luxembourg is the largest third-party management company in the Grand Duchy.
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