Hong Kong microfinance platform Micro Connect raises $458 mln from investors

Credit: REUTERS/THOMAS WHITE

Adds valuation figure, details

HONG KONG, Aug 2 (Reuters) - Hong Kong-based microfinance platform Micro Connect, co-founded by former Hong Kong Exchange CEO Charles Li, on Wednesday said it has raised $458 million from new and existing investors.

Micro Connect is valued at $1.7 billion after the capital raise, the company said. Participants in the fundraising included private equity and venture funds, and university endowments, Micro Connect said in a statement, without specifying the institutions.

The new funds will help the company enhance the market structure of Micro Connect (Macao) Financial Asset Exchange (MCEX), a platform that allows global investors to collect daily revenue shares of micro and small businesses in China and is set to launch in August, according to a company statement.

(Reporting by Selena Li and Roxanne Liu; Editing by Tom Hogue and Gerry Doyle)

((kane.wu@thomsonreuters.com; +85228436590; Reuters Messaging: kane.wu.thomsonreuters.com@reuters.net))

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