Wealthy Asian heirs are boosting women in business

Wealthy Asian heirs are boosting women in business

When Grace Tahil’s daughter turned 14, they sat down and talked about their careers.

As a family associated with two Indonesian millionaire patriarchs, leisure life was always an option for women in the family, but teens said they wanted to work like mothers. It sparked Tahir’s new determination to support women’s progress and urged her to invest more in women-focused investments.

“Ten or twenty years later, when they join the workforce, I don’t want to see them facing the same situation I’m seeing right now. Much is very male-dominated. “Tahir, 44, says. She founded the startup and is now the director of the family Maya Pada Hospital Group, she talked about her three daughters.

Tahil’s interest in so-called gender lens investment is part of a growing trend among wealthy families in Asia. The younger generation, who inherit wealth, are working their money in more innovative ways that can have a positive impact. This has helped surveys begin to support them, and many surveys now suggest that focusing on gender equality companies can help portfolio managers outperform. I will.

The growth of this practice is particularly important at this time, as COVID-19 has worsened labor force participation, salary discrepancies, and access to capital between women and men. According to data provider PitchBook, funding for female founders fell 31% last year, compared to 16% for all male teams.

Women’s “gold”

Most gender lens investors are looking at three key indicators of a company: the number of female co-founders, the number of women in senior management, and whether the business is creating products that are practically useful to women. looking for.

Gender lens investment vehicles in East and Southeast Asia managed $ 1.3 billion in 2019, according to a report released last year by consulting firm Catalyst Large. Although still small compared to the broad investment industry, the report reports that the strategy is gaining momentum, many of which may come from secret family offices in Asia.

Suzanne Biegel, founder of Catalyst at Large, said that around $ 7.7 billion will be allocated to gender lens investment vehicles worldwide in 2019, and more people will see this strategy as a “source of outperformance” in 2020. This number could approach $ 20 billion. Companies with diverse management teams achieve better sales growth, but research shows that investment teams with gender-balanced leadership tend to outperform performance.

One of the strongest women’s funds is SoGal Ventures, co-founded by Beijing-based 30-year-old Pocket Sun. Sun said 35 of the 38 portfolio companies have female co-founders. Her fund, which manages $ 15 million in assets, has generated an internal rate of return of 80% since it was founded in 2017.

“There is money in investing in women,” she said.

Bankable solution

One of the funds Tahir has funded is Teja Ventures, founded by former lawyer Virginia Tan, who currently lives in Singapore. While working in Beijing, Tan built a community for female entrepreneurs to network with their peers when the startup scene there exploded.

She co-founded She Loves Tech in 2015. It’s a connector that runs contests that are popular with women-focused startups and founders, and then launched Teja to address the capital shortages of some participants.

“What I saw in the field of development was that there was a lot of need, but there was no capital and I couldn’t deposit it in a bank. It was always considered charitable.” Said Tan about gender lens investment. “Technology has enabled many of these solutions to be funded.”

Teja’s first $ 10 million fund focused on seeding Asian deals with portfolio companies, including Indonesian plant-based restaurant chain Burgreens. And Sheroes, an Indian social network for women. Mr Tan said 80% of Teja’s companies raised new funding last year, doubling the value of their portfolio. We are currently preparing to begin raising a second $ 50 million in funding later this year.

Even family offices, which have no explicit obligation to diversity, are stepping into the space.

Diana Watson, investment manager at the Tsao Family Office, manages the wealth first created by the late Singaporean tycoon Frank Tsao and is now the board, C suite and trading team of companies seeking family money. Requesting gender statistics for.

“If two very similar opportunities occur, gender diversity may have lost one or made it possible to choose,” Watson said.

Wealth transfer

Indeed, investing in gender lenses is only part of the broader investment environment and carries some inherent risks that can impede investment by large institutions.

First, the simplified level of diversity data provided by the enterprise can make detailed analysis difficult. And many venture capital firms are still prejudiced against selling from all male teams, or raising money, and often overlook sales from women.

However, these concerns are less bureaucratic than institutional investors and may not be of much concern to supporters such as family offices who may “take more risk”. It’s expensive, Mr. Begel said. In addition, many of these wealthy backers are entrepreneurs themselves, “they see the opportunity to help talented and wise entrepreneurs.”

And as Asia experiences large-scale wealth transfers to second- and third-generation families, more heirs are actively using more innovative and riskier strategies. ..

Some have taken a more open-minded approach to areas where they are still working on diversity and accidentally fell into a gender lens space rather than design. And it looks like they are being rewarded and trying to deepen their involvement.

Kuok Men Zion, the grandson of Malaysian billionaire Robert Kuok, is not looking for opportunities through gender lenses. However, the 40-year-old head of Singapore-based family office K3 Ventures will support women-led companies, including American developers of prebiotics commonly found in human breast milk and Vietnamese truck startups. became.

“Almost by chance, we found the founders of these women, which we have great respect for,” Kuok said. “I think more and more talented women-led companies will continue to earn institutional capital.”

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Dubai real estate boom as wealthy buyers escape lockdown

Dubai real estate boom as wealthy buyers escape lockdown

Dubai’s real estate market has been weakened from six years of fatigue as “blockade evaders” and wealthy international investors are breaking records and driving buying enthusiasts to help the economy recover.

Luxury villas are the most popular segment of the market, with European buyers in particular looking for Dubai’s signature Palm Jumeirah artificial island homes and golf course real estate.

Zhann Zochinke, chief operating officer of consultancy’s property monitor, said Dubai’s roller coaster real estate market, which had been steadily declining since 2014, was hit by COVID-19 last year and the emirate closed its borders. It has leveled off.

“Then, shortly after that blockage period, the transaction volume began to increase, but since then it hasn’t really stopped,” he said.

“Now we see record increases and trading volumes from the previous month.”

The Gulf Emirate became one of the first destinations reopened to visitors in July last year, with the energy that produced the Open Door Policy and strict rules on masking and social distance, and some of the highest vaccination rates in the world. Vaccination program combined.

Despite a surge in coronavirus cases in the New Year after a mass of vacationers, life continued almost normally with restaurants and hotels open, ruining life elsewhere. There are few restrictions.

“Lockdown Dodgers from other countries? I think there’s a lot to be seen there,” Zochinke said, and other draws allow more relaxed residence rules and full foreign ownership of businesses. He added that it was a decision.

“Not just construction sites”

According to IHS Markit, the flood of arrivals has revived the tourism industry, is the economic center of Dubai, has little oil wealth to power neighboring countries, and in April business activity reached pre-COVID-19 levels Helped to recover.

Research agency economist David Owen said, “Travel agencies and tourism companies are seeing the most significant recovery in performance amid rising expectations that tourism will become more active later this year, boosted by the rapid deployment of vaccines. I recorded it. “

According to property monitors, after years of turmoil in which homeowners were monitoring stock outflows, a surge in luxury real estate in excess of 10 million dirhams ($ 2.7 million) was noticeable, with 90 cases in April. There was a deal. ..

Dubai’s luxurious villa pool. | AFP-JIJI

Palm’s mansion sold for 111.25 million dirhams. It has reached its highest price in a few years in a district featuring 16 “leaves” lined with stunning homes and supercars parked on a driveway.

The most expensive property currently available in this block is a vast Italian-style modern villa located on one edge of a leaf, with a 180 degree beach frontage and offered for 100 million dirhams.

After declining in the market during the gloomy days in the midst of a pandemic, developers said one of the new types of monetized Europeans went to the infinity pool, private cinema, acres of marble and glass. I hope to be tempted.

Matthew Bate, CEO of one of the agencies, BlackBrick, said: Represents a property.

“COVID-19 opened the door”

“People are now looking at Dubai and saying — I’m going to make this my main home. I can manage my business in Europe, North America and Asia while working in Dubai,” he said. Said.

“So what COVID did in the end, I think it opened the door to us in other parts of the world.”

In a market where many fortunes are created and lost, there are concerns about whether the recent rapid rise can be sustained.

According to the Property Monitor, real estate sales of more than 10 million dirhams in April increased by 6.7% compared to the previous month, with villas sold on Palm totaling 54 in 2020 overall, compared to 81 in April alone. was.

Despite the remarkable rise, the market is still out of 2014 highs and the apartment market is far behind.

However, financial services firm Morgan Stanley said in a recent report that the rally is unlikely to stop soon.

“Strong demand, peaked supply growth, and long lead times for new projects could push the market tighter than expected in the coming years,” he said.

It acknowledged “the wave of government reform over the last 12 months, attractive mortgage rates, and changes in demand patterns due to COVID-19.”

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Wealthy Japanese are flying more private, ANA …

Wealthy Japanese are flying more private, ANA …

Wealthy people in Japan are looking to more private jets as they try to avoid crowded airports as the coronavirus pandemic continues.

ANA Holdings’ private jet charter business is expected to generate sales of 1 billion yen in 2022, said Atsushi Katagiri, chief executive officer of ANA Business Jet, last week. ANA Business Jet is jointly owned by ANA and Sojitz Trading Co., Ltd.

According to Katagiri, private charter inquiries are about 20 times a month, up 30% from pre-pandemic levels. “This will be a new transportation option,” he said, refusing to disclose sales for the past few years.

Compared to Europe and the United States, Japan is a small market for private jet operators because of its quicker and more efficient domestic transportation and the relatively small size of the country. However, an increasing number of businessmen want to come to Japan from other countries that are flying privately, or are stuck overseas who want to return to Japan and are unable to secure regular flights due to COVID-19.

According to Nomura Research Institute, the number of wealthy people in Japan in 2019 reached 1.3 million households since 2005, and net financial assets reached 333 trillion yen. Former Prime Minister Shinzo Abe’s ultra-easy monetary policy has raised his rank.

A 13-seat jet plane from Tokyo to New York costs about 39 million yen for a round trip and 30 million yen for departures and arrivals in Los Angeles. Hiring a private plane to and from Beijing, the capital of Japan, saves 15 million yen.

ANA Business Jet does not own the airplane itself, so costs can be reduced. Rather, the group is more agile as it arranges flights in collaboration with about 40 operators around the world.

According to Markets & Markets, the global business jet market is projected to grow from an estimated $ 19 billion in 2020 to $ 38 billion by 2030.

ANA posted a loss of 81 billion yen in the three months to December 31, but sales fell 55% to 236 billion yen. “I’m glad I didn’t own any assets during the coronavirus,” Katagiri said.

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