Nordic Asia Investment Group takes in an additional SEK 90 million in new capital ahead of the planned IPO

This is an excerpt from the official press release. See the full press release here.

The newly started investment company Nordic Asia Investment Group takes in SEK 90 million in its Pre-IPO capital raising round. The company's business concept is to invest in companies on the Chinese and Asian stock exchanges with a focus on the digital consumer.

The offer was well received by several well-known investors, including Peter Lindell and Carl Westerstad at the forefront as lead investors, who together subscribed for SEK 45 million. Peter Lindell was one of the early investors in i.a. Unibet and Paradox and are partners in the venture capital company Rite Ventures. 13 institutional investors participated in the new issue. In addition, the company's newsletter subscribers have also been offered the opportunity to participate in the company's Pre-IPO round.

In total after the new issue, the company has approx. 90 shareholders and the company has raised approx. SEK 140 million since 2019. The new issue in the latest round was carried out at the net asset value per share as of July 1, 2021 and amounted to SEK 9,866.

Strong demand for increased exposure to the Asian consumer market

"Our business concept is to apply the Swedish investment company model to the growing consumer market in China and Asia, with the goal of generating an annual return of over 15%, driven by the portfolio companies' profit growth in the underlying end markets. Despite the strong growth in China's domestic consumer market, Nordic investors are still under-allocated to the region. It is a growing problem that we want to solve through our investment company structure, which is supported by our Swedish-Chinese background and local market presence in both Shanghai and Stockholm."

- Yining Wang, founder and CEO of Nordic Asia Investment Group

Competent team with the right conditions

"We saw Nordic Asia as an interesting company to own for exposure to the domestic consumer market in China. With their Swedish-Chinese management team and local analyst network in Shanghai, they have the right conditions to analyze and find the right companies and thus help us own the right holdings in the sector."

Peter Lindell, Cidro Förvaltning AB

Sight set on the stock market

Nordic Asia was founded by Yining Wang, former head veal at Melker Schörling AB and business area manager at Assa Abloy APAC. Nordic Asia is backed by i.a. the venture capital company Procurita's founder Mikael Ahlström, who entered early with a seed investment of SEK 20 million in the company. After the completed Pre-IPO round, Nordic Asia has set its sights on the stock exchange and has begun preparations for a stock market listing on the Nasdaq First North Growth Market.

"It's really fun to see how Nordic Asia has developed since our initial investment in the team in 2019. We are very impressed with everything they have managed to build in a short time through a combination of passion, competence and dedicated focus."

- Mikael Ahlström, chairman of Curitas AB