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Corporation
nanfung.com

Investments

20

Portfolio Exits

9

Partners & Customers

1

About Nan Fung

Nan Fung Group, founded in 1954, has transformed itself from a Hong Kong textile manufacturer to a highly respected international business conglomerate with global interests in property markets, financial investments, shipping and a diverse range of business partnerships. Nan Fung Group is one of most established property developers in Hong Kong and continue to expand its property portfolio in residential, commercial, and hospitality sectors both locally and internationally.

Headquarters Location

23rd Floor, Nan Fung Tower 88 Connaught Road C

Hong Kong

+852 2523 5235

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Expert Collections containing Nan Fung

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Find Nan Fung in 1 Expert Collection, including Synthetic Biology.

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Synthetic Biology

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Latest Nan Fung News

Liquidators Take Control of Goldin Financial Holdings After Court Order

Nov 17, 2022

Mingtiandi Username 2022/11/17 This time it’s more than just a building being taken over at Goldin (Source: Savills) Just weeks after the latest failed sale of the Goldin Financial Global Centre, joint provisional liquidators have taken full control of Hong Kong-listed Goldin Financial Holdings. The firm’s security trustee, Deutsche Bank affiliate DB Trustees (Hong Kong) Ltd, on 30 September had asked for an order from the Supreme Court of Bermuda to expand the liquidators’ powers, Goldin Financial said Wednesday in a filing with the Hong Kong stock exchange . The court declared on 28 October that the powers of Goldin’s directors and officers had ceased completely and would be transferred to the liquidators, with the directors retaining only limited powers relating to the ongoing winding-up proceedings against the company. In addition, the liquidators announced that the principal place of business of Goldin Financial in Hong Kong has been changed to the 11th floor of Lee Garden Two in Causeway Bay, a location corresponding to the address of accounting giant Grant Thornton’s local office. Winding-Up Delayed Goldin’s creditors have sought to wind up the company since filing a petition with the Bermuda court in August 2020, but the proceedings stalled amid a series of delays that continue to the present day. Former Goldin chairman Pan Sutong looks a bit stunned the latest events (Getty Images) In July, Hong Kong’s high court ordered Goldin Financial’s former chairman, Pan Sutong, to wind up his own holding firm and file for bankruptcy after the mainland tycoon failed to repay HK$8 billion ($1 billion) borrowed five years earlier to finance the privatisation of his Goldin Properties Holdings. Two months later, the Goldin Financial Global Centre seemed to have finally sold after a two-year struggle for the Kowloon East office tower, but this month the apparent buyer filed a lawsuit claiming that the sale and purchase agreement had been terminated by the building’s receivers. The aborted sale had a familiar ring to followers of the Goldin saga, coming after several false starts. In late 2020, in a move seen by some observers as an attempt to block the receivers’ tender of the building, Goldin announced that a businessman under the name “Fong Tim” had agreed to buy the building at 17 Kai Cheung Road in Kowloon Bay, stalling moves by creditors. When that sale failed to proceed, and after a protracted legal battle was declared void, the purported buyer was forced to forfeit a HK$2.03 billion deposit. A fresh tender for the building was launched in May of this year , with media reports in September naming local development giant Nan Fung as the buyer. Representatives of Savills denied naming Nan Fung as the buyer and declined to provide further details on the sale. Inquiries to Nan Fung in September went unanswered. PwC Reportedly Seizes Asset On Thursday, local newspaper The Standard reported that a Hong Kong residential project partly owned by Pan had been seized by PricewaterhouseCoopers. Grand Homm in Kowloon’s Ho Man Tin area terminated the sales of 32 units on 15 November, according to documents cited by The Standard, which said tenders for 31 of the units were to start on 14 November. Since 2019, Grand Homm has sold 19 units — less than 5 percent of the total 401 homes — after nine buyers cancelled their deals, the paper said. Share this now

Oct 19, 2022
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Nan Fung Investments

20 Investments

Nan Fung has made 20 investments. Their latest investment was in AbillionVeg as part of their Seed on September 9, 2020.

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Nan Fung Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/10/2020

Seed

AbillionVeg

$3M

Yes

CloudKitchens, Nan Fung, Undisclosed Investors, and York Capital Management

2

12/11/2019

Series C

OmniOme

$60M

No

2

6/10/2019

Series B

OncXerna Therapeutics

$80M

No

6

1/4/2019

Series B - II

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$99M

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10

1/3/2019

Series D

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$99M

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10

Date

9/10/2020

12/11/2019

6/10/2019

1/4/2019

1/3/2019

Round

Seed

Series C

Series B

Series B - II

Series D

Company

AbillionVeg

OmniOme

OncXerna Therapeutics

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Amount

$3M

$60M

$80M

$99M

$99M

New?

Yes

No

No

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Co-Investors

CloudKitchens, Nan Fung, Undisclosed Investors, and York Capital Management

Sources

2

2

6

10

10

Nan Fung Portfolio Exits

9 Portfolio Exits

Nan Fung has 9 portfolio exits. Their latest portfolio exit was Oculis on October 17, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/17/2022

Acq - Pending

$99M

1

7/20/2021

Acquired

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$99M

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10

3/29/2021

Acq - Pending

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$99M

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10

2/5/2021

IPO

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$99M

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10

10/16/2020

IPO

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$99M

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10

Date

10/17/2022

7/20/2021

3/29/2021

2/5/2021

10/16/2020

Exit

Acq - Pending

Acquired

Acq - Pending

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Nan Fung Acquisitions

2 Acquisitions

Nan Fung acquired 2 companies. Their latest acquisition was Vcell Healthcare on July 19, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/19/2019

$99M

Corporate Majority

4

12/19/2016

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$99M

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10

Date

7/19/2019

12/19/2016

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Corporate Majority

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Sources

4

10

Nan Fung Partners & Customers

1 Partners and customers

Nan Fung has 1 strategic partners and customers. Nan Fung recently partnered with Celltrion on August 8, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

8/2/2019

Partner

South Korea

1

Date

8/2/2019

Type

Partner

Business Partner

Country

South Korea

News Snippet

Sources

1

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