Global law firm Ashurst acted for New Vision Capital Partners Limited (the "Company") in relation to its US$1.48 million investment in Fano Labs Limited by way of a subscription for shares in Fano Labs Limited. A total of approximately US$7.6 million was raised in this round of investment, with the Company as one of the co-investors.
Fano Labs Limited is a Hong Kong-based start-up specialising in artificial intelligence technologies to help enterprises with customer services, compliance and other lines of businesses.
This round of investment will provide Fano Labs with capital to strengthen its position as the market leader in Hong Kong's enterprise speech technology field and further accelerate its ambitious growth plans to expand its operations to reach regional markets.
Lead partner Frank Bi commented: "There is an increasing demand from PE investors to invest into Hong Kong local innovative enterprises. We are delighted to have assisted our client in the successful completion of this transaction and we look forward to continue to work with New Vision Capital Partners and other potential investors investing into this growing sector."
The transaction was led by partner Frank Bi, supported by Lisette Chan, Valerie Tay, Maggie Lai and Christy Wong.
