Hong Kong microfinance platform Micro Connect raises US$458 million from investors

HONG KONG: Hong Kong-based microfinance platform Micro Connect, co-founded by former Hong Kong Exchange CEO Charles Li, on Wednesday said it has raised US$458 million from new and existing investors.

Micro Connect is valued at US$1.7 billion after the capital raise, the company said. Participants in the fundraising included private equity and venture funds, and university endowments, Micro Connect said in a statement, without specifying the institutions. The new funds will help the company enhance the market structure of Micro Connect Financial Asset Exchange , a platform that allows global investors to collect daily revenue shares of micro and small businesses in China and is set to launch in August, according to a company statement.

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