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Ping An Ventures

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In View Summary

Founded in 2012, Ping An Ventures, a $150 million USD fund, is actively investing across fintech, e-commerce marketplaces and digital health solutions.

Interestingly, Ping An Ventures is actively investing in online marketplaces such as used car platforms, kids education apps and real estate platforms.

Jiang Zhang, a partner at Ping An Ventures has encapsulated their philosophy: “Our aim is mutual success with those startups that share our goals by engaging in industrial evolution, promoting technological innovation and facilitating growth of partners.”

Ping An Ventures Portfolio Companies include:

  • 明星衣橱: provides apartments renting for middle class segment in Shanghai, Beijing, Shenzhen.
  • 博车网: repairable accident car auction platform. Includes insurance companies, car rental companies and financial leasing companies.
  • 蘑菇租房: after-sale service platform for car-owners, including online booking, group purchasing and bidding services
  • 工程师爸爸: content distribution platform for kids education.
  • 解码DNA: a genetic testing company that aims to become the best brand of genetic testing and health management with services such as personalised drug prescription, disease screening and talent gene testing.
  • 思派网络: helping oncologists to improve efficiency, has built the data structure of almost every tumour.

Interestingly, Ping An Ventures isn’t Ping An’s only VC arm. In fact, Ping An has recently launched a dramatically bigger venture fund, complete with a separate team and a global investment mandate. The $1 billion Ping An Global Voyager Fund will be run out of Hong Kong and headed by Jonathan Larsen, an 18-year veteran of Citigroup, who now joins Ping An as chief innovation officer.

In terms of investment theme’s, Ping An Global Voyager is sourcing cyber security and connected health startups active in Israel and the US.

Ultimately, Ping An Ventures and the Global Voyager Fund is notable for its global operating presence, a rarity among Chinese insurers, and the range of industries it is investing in. Essentially, Ping An is placing its bets far and wide in order to sustain the impressive lead it has forged in China.

 

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Reported Benefits

Benefit to Customers

  • Support startups that are offering more advanced products and services far beyond the confines of financial services.
  • Provide access to funding and Ping An’s resources to entrepreneurs.

Benefit to the Insurer

  • Access early stage InsurTechs, enterprise software solutions such as mobile payment and security features.

The Digital Insurer's View

Ping An, as a $90 billion conglomerate, is currently in pole position in China’s digital insurance race. Although this affords Ping An the funding necessary to partner with the most promising and best startups world wide, Ping An’s size carries with it the bureaucracy and layered management processes that accompany every multi-national. This positions Ping An as a potential victim of its own success, while smaller, nimbler startups that fall through Ping An Ventures support may establish competing platforms and products.

Ultimately, the the real test for Ping An Ventures is whether its investments can scale, not only under Ping An’s oversight within China, but also help Ping An to expand overseas, particularly in South America and the Middle East.

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