Fast Investment, an investment subsidiary of Fast Track Asia, announced on August 30 that it had raised investment from Cowell Financial Group in Hong Kong and has formed a partnership in order to raise funds and make investments in the future.
Fast Investment was founded in 2013 to focus on angel investments, and has invested in nine startup companies, including the mobile security company, SEWorks, messaging solutions company, Sendbird, online/offline commerce data analytics company, Zoyi, tools for team communication, Jandi, and new media service, Outstanding. They received a return on their investment that was over seven times the cost by selling old shares of some of the portfolio companies. Through this investment round, Fast Investment is planning to invest more aggressively by forming new funds. They are planning to invest in a wide range of industries, as well as startups in various stages by forming two to three new funds. Jay Kwak, CEO of Cowell Financial Group, said, “It is impressive that Fast Investment was founded by specialists who have a great track record with early stage investments. We will move forward together with Fast Investments for various investment activities in Korea”.
In addition, Ji-Woong Park, CEO of Fast Investment, said, “This investment is the first step for Fast Investment to become an outstanding company for fund management. We will develop into a financial investment company that deals with a wide range of multi-assets, not just a simple venture capital firm”.
(Top photo from Pixabay)
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This article, entitled “Fast Investment lands funding from Cowell Financial Group in Hong Kong”, was written in Korean by Minjung Kim of Platum, edited by AllTechAsia.