Investment

Deal of the Week: Family office makes big PE investment in AgTech

A Hong Kong-and Boston based family office has committed $75 million to a Canadian AgTech data analytics platform, further evidence that private investment groups are signing big cheques in private markets.

Morningside, the family office of the Hong Kong-based Chan family, who own the property empire Hang Lung Group, made the investment in Vancouver-based Semios. 

Morningside is run by US-based Gerald Chan, the brother of Ronnie Chan, who is chairman of the Hang Lung Group. The family office also has offices in Shanghai and staff in Beijing. 

The Chan family made one of the biggest donations to a university ever when in 2015 they gave $350 million to the Harvard School of Public Health. Gerald Chan did his post-graduate studies at Harvard. 

The deal is yet further evidence that family offices are willing to back companies at institutional-like levels. Last week, PremjiInvest, the family investment group owned by Azim Premji, led a $126 million investment round in a Boston-based Iora Health, a private healthcare company

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