Hong Kong, May 18, 2021
Forkast Ltd., a blockchain-focused multimedia platform, has successfully completed its seed funding round of US$1.7 million, which was oversubscribed. A group of global institutional investors and leading blockchain players participated, including Asia-based AMTD Group, Fenbushi Capital, Alibaba Hong Kong Entrepreneurs Fund, Animoca Brands, Longling Capital, CMCC Global and Sora Ventures, as well as Don Tapscott and Loma Ventures, among those in North America.
The funding will be used to enhance Forkast’s digital story-telling capabilities led by video, expand its current team, and invest in innovative content creation technologies that deepen engagement with a global audience.
“We are grateful and humbled by the strategic support from investors who share our vision and believe in our mission of providing the highest quality of journalism to our audience,” said Angie Lau, CEO and editor-in-chief of Forkast, a former Bloomberg anchor who co-launched the organization in 2018 with Sarah Chang, a former McKinsey & Company consultant and startup veteran.
“AMTD Digital believes in creating values through connecting dots. We see Forkast as an equation of technology, knowledge and innovation and we are happy to partner with Forkast to deliver global stories and analysis on emerging technology,” said Calvin Choi, chairman of AMTD Group and founder of AMTD Digital.
Connecting East and West
With a base in Asia and eyes on the world, Forkast’s team of senior multimedia reporters and expert analysts offers the audience a unique perspective and timely insights on Asia, the fastest growing and most active crypto market in the world.
“Fenbushi is proud to support platforms that educate the world on crypto and blockchain through our investment in Forkast,” said Remington Ong, a partner at Fenbushi Capital. “As many Fortune 500 companies and mass market retail investors are allocating into crypto, it is more important than ever to build a credible source of deep industry insights in a language accessible to the average layman.”
“Like Fenbushi, Forkast is rooted in Asia, and as such, is uniquely positioned to bridge the gap in information flow between the East and the West,” he added.
Don Tapscott, best-selling author and co-founder of the Blockchain Research Institute, said, “I was a fan of Forkast before I became an investor. It is my definitive source on my understanding of Asia.”
The funding round took place during the height of Covid-19, which still presents monumental challenges for many startup companies in the region.
“As the pandemic continues to affect many parts of the world, it is crucial for the corporate community to step up support for entrepreneurs,” said Cindy Chow, executive director of the Alibaba Hong Kong Entrepreneurs Fund. “Our investment in Forkast not only demonstrates our commitment in fostering the next generation of problem-solvers and thought leaders, but also underscores Alibaba’s unwavering support for forward-thinking female entrepreneurs.”