On May 16, just as US President Donald Trump wrapped up his whirlwind Gulf tour with over US$2 trillion in deals, a little-known Hong Kong fintech firm beat global rivals to bag a contract with a United Arab Emirates (UAE) bank.
Evident Group, operator of a digital investment platform for alternative assets and licensed by the Securities and Futures Commission, formed a partnership with Zand Bank, the UAE’s first fully licensed digital bank. The collaboration will provide the Dubai-based bank’s clients with investment opportunities through Evident’s tokenisation technology and infrastructure.
The partnership was made possible thanks to the efforts of InvestHK. And Evident’s success exemplifies the investment promotion agency’s new mission. After a quarter-century dedicated to attracting global investment to Hong Kong, InvestHK is transforming into a business development agency that leverages the city’s dual role as both a “superconnector” and “super value-adder” to help companies succeed.
“We must now help them take the next step in their journey to be successful,” said Alpha Lau Hai-suen, the director general of InvestHK. “Whether they are from China or from Asia or elsewhere, once they open in Hong Kong, we see them as a Hong Kong company, so we will help them.”
(From left) King Leung, global head of financial services, fintech and sustainability at InvestHK; Victor Yim, head of fintech at Cyberport Hong Kong; Florian Spiegl, founder and CEO of Evident Group; Ronald Fok, head of wealth and asset management at Zand Bank; Michael Chan, CEO of Zand Bank, and Parag Gupta, COO of Zand Bank. Photo: Handout
This strategic shift responds to evolving challenges. InvestHK was established in 2000 to retain foreign investment amid rising competition. A pivotal moment came in 2001 when China joined the World Trade Organization, prompting many firms to bypass Hong Kong for direct mainland access. But now companies want to expand, taking advantage of Hong Kong’s credibility and regulations.
Evident’s founder Florian Spiegl appreciated InvestHK’s role in bringing the partnership with Zand to fruition. He said this was only possible after InvestHK arranged an informal meeting with Zand’s CEO, Michael Chan, which gave him an opportunity to share his vision. This, in turn, helped speed things up.
