Centaline founder Shih invests in P2P diamond exchange
Monday, February 15, 2016
(Hong Kong Economic Journal) – Centaline Property Agency founder Shih Wing-ching has poured more than HK$10 million into a peer-to-peer diamond exchange that aims to capitalize on the trading of second-hand diamonds, the Hong Kong Economic Journal reported Monday.
Shih’s AM730 Startup Fund, which was set up about four years ago to support new businesses, has invested in the P2P diamond exchange recently, according to the report.
AM730 Startup Fund was set up with venture capital of HK$30 million, about HK$10 million more than the originally planned figure.
The fund has made several investments but most of the ventures have either been wound up or are making losses.
It has stopped new investments now, and is instead focusing on the diamond exchange — which is officially known as the Hong Kong Accredited Diamond Exchange, the report said, citing Shih.
