What QBN Capital does

QBN Capital is a privately-held venture capital firm founded in 2019 and headquartered in Hong Kong (Wanchai), with a regional office in London (Level39, Canary Wharf). The firm invests growth equity into Series A-B stage startups operating in fintech and deeptech sectors, targeting companies with commercial traction and global ambitions to scale between Asia and Europe. Its portfolio of 30+ companies spans artificial intelligence, biometrics & digital identity, semiconductors, cyber & data security, digital health, big data analytics, and financial technologies. QBN positions itself as a bridge between Asian capital and European technological innovation, providing not only capital but strategic coaching, regulatory navigation, and introductions to elite business and investor networks.

QBN Capital generates returns through conventional VC fund economics: management fees on committed capital and carried interest on successful exits of portfolio companies. The firm does not sell products or technology platforms; its 'product' is capital allocation, strategic advisory, and access to its network. Notable lead investments include Applied Blockchain (£2M, 2020), AMPLYFI ($5M, 2020), ReSec Technologies ($4M, 2020), Hex Trust ($6M, 2021), DEFYCA ($1.3M, 2022), and iLex ($4.5M, 2023). The firm has co-invested alongside strategic backers including Tencent, abrdn, Deutsche Börse, Allianz, and Oxford Science Enterprises.

The firm is led by two Managing Partners: Frank Tong, former Global Head of Innovation and Strategic Investment at HSBC and ex-CEO of ASTRI; and Andy Tung, former CEO of Orient Overseas Container Lines (OOCL). Senior leadership includes Philea Chim (Senior VP, former UK Government Tech Policy Advisor), Violet Ho (Investment Analyst, ex-PwC), and senior advisors with backgrounds at HSBC Asia Pacific, COSCO Shipping Holdings, and family-controlled enterprise advisory. The team of 1-10 employees operates with a lean partnership structure typical of emerging-manager VC firms, with deal flow sourced through proprietary networks rather than open applications.

Name

QBN Capital

Legal name

QBN Capital

Website

https://qbncapital.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

QBN Capital is a Hong Kong-based venture capital firm founded in 2019 that provides Series A-B growth equity and strategic advisory to fintech and deeptech startups bridging Asia and Europe. It invests across AI, cybersecurity, digital health, biometrics, and financial technologies with a portfolio of 30+ companies.

Ownership category

akta.pro rank

Product category

Venture Capital / Growth Equity Investment

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399), Miscellaneous Financial Investment Activities (523999)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industries

Early-Stage Venture Capital (Series A/B) (FSANAAAB), Financial Services / Fintech Growth Equity (FSANACAE)

Keywords

• Venture capital funding
• Growth equity investment
• Fintech investment
• Deeptech venture capital
• Startup growth capital

Headquarters

HQ city

Wanchai

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Management fees and carried interest: As a venture capital firm, QBN Capital generates returns through management fees on committed capital and carried interest (performance fees) on successful exits of portfolio companies. Revenue is driven by the appreciation and exit performance of invested portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

QBN Capital is a venture capital firm that provides growth equity investments (primarily Series A-B) to FinTech and DeepTech startups with global ambitions. The firm invests directly in exchange for equity and supplements capital with strategic advisory, senior business leader coaching, and introductions to business and investor networks across Asia and Europe.

Product overview

QBN Capital is a venture capital firm that provides growth capital, strategic advice, and access to its business and investor network to technology startups. The firm focuses on investing in FinTech and DeepTech companies across Asia and Europe, but does not offer technology products or platforms itself.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Equity Investments Lead and follow-on equity investments (primarily Series A-B) in FinTech and DeepTech startups in Asia and Europe, in exchange for equity stakes.
• Strategic Advisory and Coaching

Quantifiable outcome

• Two portfolio companies identified as Leading 10 Emerging Giants by KPMG
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• DEFYCAcoreTechnology or IntegrationDEFYCA partnered with Wiserfunding to create a RiskPassport digital risk fingerprint using DEFYCA's blockchain-enabled debt marketplace and Wiserfunding's credit risk models. The RiskPassport provides essential credit risk and compliance data for due diligence in private credit markets.

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Anthemis: Anthemis is a venture capital firm specialized in fintech and financial services investments, with a sector-vertical thesis very similar to QBN Capital's fintech focus. It invests across stages in financial infrastructure, insurance, capital markets, and digital assets, making it a direct comparable for sector-specialist fintech VC.
• Speedinvest: Speedinvest is a European early-stage VC with explicit fintech and deeptech verticals and a sector-specialist approach comparable to QBN's Series A-B stage focus. Both firms target founders building globally ambitious technology companies with operating support beyond capital.
• Global Brain: Global Brain is a Japan-based early-to-growth stage VC with fintech and deeptech verticals and a strong portfolio approach across Asia. Its sector-specialist model and cross-border Asia deal flow are comparable to QBN's Hong Kong-anchored strategy.
• Octopus Ventures: Octopus Ventures is a UK-based early-to-growth stage VC with deep fintech, deeptech, and B2B software verticals. Its Series A-B focus and London base make it directly comparable to QBN's UK/European investment activities.
• Dawn Capital: Dawn Capital is a European B2B/fintech specialist VC backing Series A-B companies in capital markets technology, insurance, and financial infrastructure, directly overlapping QBN's thesis areas (e.g., iLex in syndicated loan technology). Both firms operate as sector-focused lead investors.
• Connect Ventures: Connect Ventures is a London-based early-stage VC focused on fintech and software with founder-friendly operating support. Its Series A focus and UK base overlap directly with QBN Capital's London activities and fintech-first thesis.

Broad incumbents

• Index Ventures: Index Ventures is a major global venture firm with deep fintech and deeptech exposure across Europe and the US. While it operates broader stage and geographic mandates, its fintech founder relationships and brand power set the competitive bar QBN competes against for cross-border deals.
• SBI Group: SBI Group is a Japanese financial services conglomerate with extensive fintech venture investing across Asia and Europe. While much larger and broader than QBN, its cross-border fintech investment thesis and Asian base align with QBN's geographic-sector positioning.

Regional players

• HashKey Capital: HashKey Capital is a Hong Kong-headquartered crypto and digital asset-focused investment firm with overlapping portfolio companies (e.g., Hex Trust). While its geographic base matches QBN's, its narrower crypto focus differentiates it as a thematic sub-vertical peer rather than a full fintech/deeptech competitor.

Emerging players

• Anthology Fund: Anthology Fund is an emerging Asia-focused VC with fintech and digital asset exposure across Hong Kong and Singapore. While smaller and earlier-stage than QBN, its geographic overlap and thematic focus on capital markets and digital assets make it an adjacent comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/qbn-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments33 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QBN Capital