Goldhorse Capital Management

What Goldhorse Capital Management does

Goldhorse Capital Management (HK) Limited is a Hong Kong-headquartered, SFC-licensed (Type 1 and Type 4, CE No. BDR769) fintech operating a proprietary multi-issuer platform called Extramile that connects approximately 200 institutional clients — external asset managers, multi-family offices, investment advisers, brokers, and private banks — to 15+ structured product issuers including Goldman Sachs, UBS, Citigroup, Morgan Stanley, BNP Paribas, and OCBC. The platform digitizes the structured product workflow from multi-issuer RFQ (pricing discovery in 60-90 seconds) through execution (3-4 minutes) to automated post-trade lifecycle management (early knockout alerts, barrier notifications, early redemption), with complementary channels including a mobile app, FIX API connectivity, a Marketplace feature, and a Community Forum.

The firm earns revenue primarily through volume-based transaction commissions on trades executed via Extramile, supplemented by investment advisory services, distribution partnerships (e.g., Isola Capital for private credit alternatives), and product distribution arrangements; there are no subscription or upfront fees. Geographically, Goldhorse operates from Hong Kong (headquarters and dealing entity), Singapore (regional HQ via Goldhorse Financial Pte Ltd), and the UAE, with expansion into a 'New Goldhorse' framework announced in March 2026 that integrates affiliated Goldhorse Securities into a unified platform extending into bonds, funds, alternatives, TRS, AMC structures, and custody services under a boutique investment bank model. The company is independently owned, led by Chairman and CEO Vicky Li and Deputy CEO Edward Liu, and has won multiple industry awards including SRP Asia Pacific Best Issuance Platform (2025) and Asia Risk Best Structured Products Support System (2024).

Name

Goldhorse Capital Management

Legal name

Goldhorse Capital Management (HK) Limited

Website

https://goldhorse.com.hk

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Goldhorse Capital Management is a Hong Kong-headquartered, SFC-licensed fintech operating the proprietary Extramile platform to connect external asset managers, multi-family offices, brokers, and private banks to 15+ structured product issuers for multi-issuer RFQ, execution, and lifecycle management.

Ownership category

akta.pro rank

Product category

Structured Products Trading Platform

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Structured products trading
• Wealth management technology
• Multi-issuer RFQ platform
• External asset manager services
• Institutional brokerage solutions

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction-Based Commissions: Goldhorse charges EAM clients a volume-based commission after each trade executed on the Extramile platform. There is no subscription or upfront fee to join and access research reports. The commission structure aligns the platform's incentives with client trading volume.
2. Investment Advisory Services: Revenue generated from providing cross-asset investment views, trading strategies, and advisory services aligned with macro conditions and client objectives. Advisory is integrated with execution to support differentiated investment decisions.
3. Product Distribution Partnership: Revenue generated through partnerships enabling distribution of third-party products (e.g., private credit funds, alternative investments) to Goldhorse's institutional client base, potentially earning distribution fees or revenue share.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Goldhorse Capital Management operates a B2B fintech platform that connects institutional clients (external asset managers, multi-family offices, investment advisers, brokers, and private banks) to multiple structured product issuers through its proprietary cloud-based Extramile platform. The platform supports the full structured product lifecycle — multi-issuer request-for-quotation (RFQ), trade execution, and automated post-trade lifecycle management — complemented by investment advisory and execution services across structured products and other derivatives. The firm is SFC-licensed in Hong Kong for Type 1 (dealing in securities) and Type 4 (advising on securities) activities.

Product overview

Goldhorse Capital Management operates a platform-plus-services model anchored by its proprietary Extramile multi-issuer structured products platform (launched 2020) and its mobile app counterpart. The core offering is complemented by the WebTrade platform and igoldhorse investment app for broader trading capabilities. Services include investment advisory, multi-asset trading solutions (spanning fixed income, funds, alternatives, TRS, and AMC structures), and custody services under a B2B2C framework. The product suite extends to specific offerings like the Isola Fullerton Global Private Alpha Fund and platform features including MarketPlace (for peer trade participation), Community Forum, and FIX API connectivity. Together these components serve external asset managers, multi-family offices, investment advisors, brokers, and private wealth institutions across Hong Kong, Singapore, and the Middle East.

Differentiator

Problem solved

Functional benefit

Brands

• Extramile: Proprietary digital platform for structured products trading, providing multi-issuer RFQ, execution, and lifecycle management.
• igoldhorse

Products and services

• Extramile Platform Cloud-based multi-issuer structured products platform providing real-time RFQ, trade execution, and automated post-trade lifecycle management for EAMs, MFOs, brokers, and private banks, connecting them to 15+ global issuers such as Goldman Sachs, UBS, Citigroup, and Morgan Stanley.
• Extramile Mobile App Mobile application extending Extramile's multi-issuer auto-quotation, trade ordering, and market insight features, with a retail version offering 24/7 quotation access and educational factsheets for public users.
• WebTrade Platform Digital trading platform for structured products and other derivatives, designed for EAMs, multi-family offices, investment advisors, and brokers to access multi-issuer quotations and execute trades.
• igoldhorse App Next-generation investment platform enabling trading of Hong Kong stocks, US stocks, and A-shares with a single account, real-time market data, and investment insights for corporate and individual investors.
• Investment Advisory Services Cross-asset investment views and trading strategies developed from structured products expertise and macro research, integrating asset allocation, selection, and timing decisions for institutional clients.
• Multi-Asset Trading Solutions Execution capabilities spanning fixed income, funds, and alternative investments, including bespoke structures such as Total Return Swaps (TRS) and Actively Managed Certificates (AMC).
• Custody Services Multi-asset custody services for external asset managers under a B2B2C framework, with unified account infrastructure, consolidated portfolio oversight, and assets held in segregated trust accounts.
• Actively Managed Certificates (AMC) Structured product offering with minimum redemption features that enables clients to access actively managed investment strategies through certificate structures.
• Isola Fullerton Global Private Alpha Fund (IFGPA) Distribution Exclusive access to a private alternative investment fund providing diversified exposure to global private equity, venture capital, and private credit strategies, distributed to Goldhorse's institutional client base.

Quantifiable outcome

• Pricing discovery takes ~60-90 seconds on average; trade execution within 3-4 minutes
• +3 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature9 records

Partnerships

Eight partnerships are on record, tiered core.

• Centaline Family OfficecoreChannel Partner/ Reseller/ Distributor · 4 July 2025Centaline Family Office, a Hong Kong-based multi-family office, onboarded as Goldhorse's latest client to access multi-issuer quotations for structured products on the Extramile platform. Centaline's advisors now have real-time access to structured products with multi-issuer quotations, execution, automated lifecycle management, and bespoke features. Centaline manages approximately $500m in AUM.
• Isola CapitalcoreStrategic or Co-development Partner · 9 July 2024Exclusive partnership allowing single family offices, multi-family offices, and Ultra High Net Worth investors to access the Isola Fullerton Global Private Alpha SP fund through Goldhorse's client community. The partnership provides access to diversified portfolios of leading global private equity, venture capital, and private credit strategies, curated by Isola Capital and Fullerton Fund Management.
• OCBCcoreTechnology or Integration · 1 July 2024OCBC partners with Goldhorse to expand its structured product offerings in a scalable manner to institutional clients in the Private Wealth Management space. An array of OCBC structured investment products can now be accessed real-time by OCBC's eligible clients at their fingertips via Extramile, diversifying investment opportunities for PWM clients. The partnership covers Singapore, Hong Kong, Malaysia, and Dubai markets.
• OCBC (Issuer)coreTechnology or Integration · 1 July 2024OCBC became the latest issuer to join the Extramile platform in July 2024, bringing their structured investment products to Goldhorse's institutional client community across Singapore, Hong Kong, Malaysia, and Dubai.
• KGI Asia LimitedcoreStrategic or Co-development Partner · 23 February 2023Goldhorse supports KGI Asia to strengthen its provision of structured products and wealth management solutions. Through the partnership, KGI Asia Sage leverages Extramile to empower their professional team's ability to offer unrivalled structured products solutions based on clients' needs anytime, anywhere. The partnership targets to provide clients in Asia with comprehensive wealth management services.
• UOB Kay Hian Hong KongcoreStrategic or Co-development Partner · 25 May 2022UOB Kay Hian selected Goldhorse to provide customized tools and financial services for the expansion of its structured product business. Goldhorse provides seamless access to structured products information, sophisticated tools and technology enabling investors to trade across a broad range of structured products such as Equity Linked Notes and Accumulators/Decumulators.
• CITIC CLSAcoreStrategic or Co-development Partner · 25 May 2022Goldhorse signed co-operation agreements with CITIC CLSA and CITIC Securities Wealth Management (HK), enabling CITIC to distribute financial products to the Extramile Community while advancing CITIC's fintech journey. Extramile provides all-round and bespoke solutions matching CITIC's digital ambitions, from price discovery to trend analysis, trade execution, and lifecycle management.
• Goldman Sachs, UBS, Citigroup, Credit Suisse, Morgan Stanley, Société Générale, Nomura, Natixis, BNP Paribas, Vontobel, LeonteqcoreTechnology or Integration · 1 December 2020Sixteen major structured products issuers support the Extramile platform, providing real-time quotations. These issuers include Goldman Sachs, UBS, Citigroup, Credit Suisse, Morgan Stanley, Société Générale, Nomura, Natixis, BNP Paribas, Vontobel, Leonteq, and others. The platform connects clients to global tier-one counterparties for price discovery.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Leonteq: Swiss structured products issuer with its own digital issuance and distribution platform, directly comparable to Goldhorse as a tech-enabled structured product specialist serving private wealth intermediaries across Europe and Asia.
• Vontobel: Swiss private bank and structured products issuer with a dedicated financial products arm in Hong Kong; closely comparable to Goldhorse given overlapping structured products issuance and EAM distribution focus in Asia.

Others

• Broadridge Financial Solutions: Capital markets and wealth technology provider offering post-trade, data and distribution infrastructure for financial institutions; comparable as adjacent technology infrastructure for the same institutional wealth ecosystem that Goldhorse serves.
• Apex Group: Global financial services platform providing fund administration, custody, and fintech infrastructure to wealth managers and asset managers; comparable as enabling B2B infrastructure for institutional wealth intermediaries, though it does not directly compete in structured product RFQ.
• EFG Bank: Swiss private bank with a structured products and investment advisory franchise in Asia; comparable given Goldhorse leadership's origins at EFG and its shared focus on serving EAM and UHNW clients across Hong Kong and Singapore.

Emerging players

• Calastone: Fintech platform digitising fund and investment product distribution globally, including in Asia; comparable as an emerging B2B fintech infrastructure layer that could expand into structured product and private market workflows for wealth managers.

Regional players

• Noah Holdings: Asia-focused private wealth and asset management platform serving UHNW clients; comparable as a regional wealth intermediary that is a Goldhorse client and represents the broader UHNW distribution channel Goldhorse serves.
• KGI Securities (Asia): Asian brokerage and wealth management group and a current Goldhorse client and partner; comparable as a regional wealth broker that itself invests in structured products distribution and could expand its own digital structured products capabilities.

Broad incumbents

• Societe Generale (Structured Products): Global investment bank and one of the largest structured products issuers connected to the Extramile platform; comparable as a broad incumbent offering overlapping structured note capabilities, though as part of a much larger franchise rather than a dedicated platform.
• FIS (Fidelity National Information Services): Large global financial technology vendor offering capital markets, wealth and trading infrastructure to financial institutions; relevant as a broad incumbent whose capital markets platforms could extend into multi-issuer structured product workflows.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sofinco-espana

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Goldhorse Capital Management