Xiaomi enters a strategic collaboration with AMTD Capital

By Leandra Monteiro

AMTD Group announced that Airstar Digital, a subsidiary of Xiaomi Corporation, invested in AMTD Capital, a subsidiary of AMTD International. Earlier last year, AMTD Capital has obtained an approval from the Chinese regulator to operate as a foreign-invested investment management firm in Hengqin. Xiaomi Finance a subsidiary of Airstar Digital, officially signed a strategic collaboration with AMTD International. Under the new agreement, Airstar Digital will buy new shares to own 49.87% of AMTD Capital. Mr. Zhao Weixing, Vice President of Airstar Digital and former Chief Executive of XW Bank, will join the Board of AMTD Capital. AMTD Capital will be renamed as AM Capital.

Recently, Mr. Calvin Choi, Chairman and CEO of AMTD Group, and Mr. Zhao Weixing, Vice President of Airstar Digital, as representatives of the shareholders and members of the Board of Directors of AM Capital, met in Hong Kong to discuss further cooperation opportunities and held the first Board meeting.

The meeting revolved around how the two shareholders can maximise synergies and support AM Capital to implement its Enterprise+ strategic investment methodology, and its investment direction to focus into FinTech, ecosystem building, and smart manufacturing companies. They aim to provide businesses with long term but low-cost capital to support their long-term development, and at the same time provide multi-dimensional value-added services such as strategic modelling, process optimization, industry consolidation, financing support, and business development for the pre-IPO or listed companies.

AM Capital is the second corporate level equity co-investment and collaboration between AMTD Group and Airstar Digital, following the joint establishment of Airstar Bank. AM Capital’s management team will comprise of core members from both AMTD Group and Airstar Digital.

Serving as one of AMTD Group’s key platforms in the Greater Bay Area, as well as aligning with Airstar Digital’s strategic direction in the digital finance sector, AM Capital will follow the governments’ lead in the region to promote financial openness and innovation, deepening financial cooperation between Hong Kong, Macau, and China, assuming the strategic role to bridge cross-border investment and financing.