White Star Capital, an early-stage VC firm with offices in Europe and the US, has opened a new office in Hong Kong.
The New York-headquartered firm has also appointed Joe Wei, a former investment banker at Deutsche Bank, to head the Hong Kong operations. Wei will lead White Star’s investments in tech startups from Series A and beyond across Asia, while helping its portfolio companies expand into the geography.
This is the second office that White Star Capital has opened in Asia after Tokyo in 2018, which is headed by former World Economic Forum executive Shun Nagao.
“My rationale for joining White Star Capital was very similar to evaluating a VC investment as I was looking for that mix of strong team, track record, growth story and differentiated business model, but moreover I really liked that whilst it was a proven and established VC fund. It was at a key inflexion point and I’m joining at a point where I can help contribute and grow the firm as it moves to the next level and becomes a leading global platform,” said Wei.
“For me, White Star Capital’s real differentiator is its global approach — it’s unique as it’s a single global fund, rather than separate regional funds unified under a global brand, so we’re structurally and culturally one team. This is reflected in how closely the team works together wherever in the world they are and partners to deliver support for our portfolio companies – not only delivering lessons learnt from other regions to help them scale locally but also as they expand into new markets,” he added.
White Star Capital, with eight partners spread across its various offices, primarily invests in North America and Europe. Its portfolio companies include Asia Innovations (Hong Kong), healthy meal startup Freshly (New York), rewards app Drop out of (Toronto), on-demand photo platform Meero (Paris), ride-sharing mobility platform Tier Mobility (Berlin), and dog food startup Butternut Box (London).
The company has offices in London, New York, Montreal and Paris, besides Tokyo.