Latest news with #BluePoolCapital
Yahoo
22-05-2025
- Business
- Yahoo
College Hoops in Asia Soars With Launch of Asian University Basketball League (AUBL)
AUBL Scores Big with Investment from Blue Pool Capital Inaugural Season to Launch as an Elite Tournament Featuring Asia's 12 Best Teams this August in Hangzhou, China Pan-regional Home & Away Format to Debut in 2026, a Historic First for Asian College Basketball HONG KONG, May 22, 2025--(BUSINESS WIRE)--Today, the Asian University Basketball League (AUBL) announced a seed round investment led by Blue Pool Capital. The newly raised capital will fuel the AUBL's inaugural season in August 2025 and further the league's vision of unlocking the massive potential of college basketball in Asia. The AUBL is a pioneering pan-regional intercollegiate competition featuring Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. The groundbreaking new league will bring the energy and excitement of university sports and "March Madness" level fandom to the region, creating exciting rivalries and showcasing Asia's top talent to a global audience. The formation of the AUBL is sanctioned by the Asian University Sports Federation (AUSF), the governing body of university sports in Asia. In November 2024, the AUSF and Hong Kong-based sports holding company Realeague reached an exclusive strategic partnership to jointly create the new league. "With close to 1 billion basketball fans in Asia, we see that the most untapped potential in the entire basketball ecosystem exists here at the college level," said Jay Li, CEO and Co-Founder of the AUBL. "Passionate fans, intense competitive energy and an incredible spirit of teamwork and sportsmanship are at the core of the sport's DNA. We aspire to build a history-defining league that will accelerate the sport's development and trajectory by bringing top collegiate teams from Asia together." This summer, the AUBL is set to host its inaugural season through a single tournament format from August 18 – 24 in Hangzhou, China – a city renowned for blending AI innovation with cultural heritage. With 24 exciting games over the course of 7 days, Asia's 12 best college basketball teams will convene and compete for the first-ever AUBL Championship. Starting in 2026, the AUBL will present a full home-and-away season format that spans over 6 months, culminating in a "Final Four" championship tournament at a pre-determined site. The list of participating universities in the AUBL's 2025 season includes the following institutions: Dongguk University (South Korea) Hakuoh University (Japan) Konkuk University (South Korea) National Chengchi University (Chinese Taipei) Nippon Sport Science University (Japan) Peking University (China) Shanghai Jiao Tong University (China) Taiyuan University of Technology (China) Tsinghua University (China) University of Hong Kong (Hong Kong, China) Yonsei University (South Korea) Zhejiang University (China) "As a former student-athlete, I appreciate the value of college sports for both participants and their communities," said Joe Tsai. "In Asian society, top-tier universities are among the most recognized brands, and they easily translate into sports through the spirit of competition between schools. That's why I believe in the AUBL's vision. Asia's growing basketball market, rising talent, and increasing institutional support create the right conditions for a successful collegiate league." About the Asian University Basketball League (AUBL) Sanctioned by the Asian University Sports Federation (AUSF), the Asian University Basketball League (AUBL) is a pan-regional intercollegiate basketball league spotlighting Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. In 2025, the AUBL will take the format of an elite tournament from August 18-24 in Hangzhou, China. From 2026 onwards, the AUBL will present a full home-and-away season format. The AUBL provides a platform for elite student athletes in Asia to showcase their basketball talent while elevating the culture and development of Asian collegiate sports to the next level. For more information, please visit the official website: About the Investors Blue Pool Capital is the family office of Joe Tsai, Chairman of Alibaba Group and owner of the Brooklyn Nets and New York Liberty. View source version on Contacts For media inquiries reach out to: Johanna@ or Press@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
24-03-2025
- Business
- South China Morning Post
Hong Kong thrives on low-tax regime and active capital market, family office says
Hong Kong's low-tax regime, active capital market and integration with the Greater Bay Area suit global family offices and investors, selling points that have helped widen its lead over regional hubs like Singapore and Tokyo, according to industry experts Advertisement The city should hold more conferences and events to promote its competitive advantages, Oliver Weisberg, CEO of Blue Pool Capital, the family office of businessman Joe Tsai, said at the Milken Global Investor Symposium in Hong Kong on Monday. Hong Kong's quality of life, education, healthcare and hub status make it an ideal location, he added. 'There is a great pool of talent as our analysts, associates, managing directors [show],' said Weisberg, a former investment banker with Goldman Sachs and Citadel who has lived in the city for 30 years. 'This is where they want to live for all the reasons we have talked about.' He recalled picking Hong Kong as the top choice in 2015 when he joined Tsai- who is also the chairman of Alibaba Group Holding which in turn is the owner of the Post – in steering the multi-strategy investment firm. Blue Pool Capital CEO Oliver Weisberg speaks at the Milken Institute symposium in Hong Kong on Monday. Photo: Jonathan Wong Hong Kong is hosting several investment-related conferences this week, apart from the Milken symposium. HSBC will hold its Global Investors Summit, while the Hong Kong government will host the third edition of the Wealth for Good event. The World Economic Forum will join the city's stock exchange operator Hong Kong Exchanges and Clearing to conduct the Centre for Financial and Monetary Systems symposium. Advertisement Financial Secretary Paul Chan Mo-po said there would be more mega-events in the pipeline, including the inaugural Hong Kong Global Financial and Industry Summit in June, which is expected to draw hundreds of global enterprises, tech firms and funds.
Hi Dubai
17-02-2025
- Business
- Hi Dubai
Tabby Secures $160M, Becomes MENA's Most Valuable Fintech at $3.3B Valuation
Tabby, the Middle East and North Africa's leading financial services and shopping app, has raised $160 million in a Series E funding round, bringing its valuation to $3.3 billion—making it the most valuable fintech company in the region. The round was led by Blue Pool Capital and Saudi Arabia's Hassana Investment Company, alongside existing investors STV and Wellington Management. Accelerating Growth and Profitability Since its last funding round in October 2023, Tabby has nearly doubled its annualized transaction volume to over $10 billion while maintaining profitability. This rapid growth underscores the company's position as a dominant player in the fintech sector. Expanding Product Portfolio and Financial Services Tabby has been expanding its offerings, including the acquisition of Saudi-based digital wallet Tweeq and the introduction of new financial tools: Tabby Card for flexible payments beyond checkout for flexible payments beyond checkout Tabby Plus , a subscription service for exclusive benefits , a subscription service for exclusive benefits Longer-term payment plans Tabby Shop for discovering deals for discovering deals Tabby Care, a buyer protection program With the new funding, Tabby aims to enhance its financial services by expanding digital spending accounts, payment solutions, cards, and money management tools. Strengthening Position for IPO and Saudi Vision 2030 The funding also solidifies Tabby's position as it prepares for an upcoming IPO and aligns with Saudi Arabia's Vision 2030, which focuses on transitioning to a cashless economy. Hosam Arab, Tabby's CEO and co-founder, highlighted the company's mission: "This investment allows us to accelerate the rollout of products that make managing money simpler and more rewarding for our customers. We're focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless, and built for their everyday lives." Christopher Wu, CIO at Blue Pool Capital, praised Tabby's innovation and efficiency: "Tabby's strong revenue growth and operational efficiency set them apart from other fintechs globally. We're incredibly excited to support the team on their mission." Ahmed Al Qahtani, CIO for Regional Markets at Hassana Investment Company, added: "We've been consistently impressed with Tabby's ability to execute and maintain strong momentum. Their innovative products are redefining financial services in the region." Tabby's Expanding Market Reach The app now serves over 15 million registered users and 40,000 sellers, generating an annualized sales volume exceeding $10 billion. Additionally, Tabby has been integrated into DubaiPay, the UAE's unified digital payment platform operated by Digital Dubai and the Department of Finance. This enables round-the-clock deferred payment services, providing citizens, residents, and visitors with flexible installment options to better manage their financial commitments. With its record-breaking valuation, rapid expansion, and strategic partnerships, Tabby is well on its way to reshaping the region's fintech landscape.
CairoScene
12-02-2025
- Business
- CairoScene
Saudi-Based Fintech Tabby Raises $160 Million Series E
Founded in 2019 in the UAE, Tabby has since reached $10 billion in annualized transaction volumes. Feb 12, 2025 Saudi Arabia-based fintech company Tabby secured $160 million in a Series E funding round, bringing its valuation to $3.3 billion. The round was led by existing investors Blue Pool Capital and Hassana Investment Company, with additional participation from STV and Wellington Management. 'This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers,' Hosam Arab, CEO and Co-Founder at Tabby, said. 'We're focused on creating tangible impact - helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.' Founded in 2019 in the UAE, Tabby has since reached $10 billion in annualized transaction volumes. The company has broadened its services beyond the buy now, pay later (BNPL) sector, introducing the Tabby Card for flexible payments, Tabby Plus as a subscription program, and longer-term payment plans.
Wamda
12-02-2025
- Business
- Wamda
Tabby closes $160 million Series E, eyeing IPO
Saudi Arabia-based fintech Tabby has raised $160 million in a Series E financing round at a $3.3 billion valuation. The round was led by existing investors Blue Pool Capital and Hassana Investment Company and drew additional participation from STV and Wellington Management. Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with $10 billion in annualised transaction volumes. The funds will be primarily used to accelerate the expansion of Tabby's financial services, including digital spending accounts, payments, cards, and money management tools. This financing round boosts Tabby's planned IPO. In October 2023, Tabby closed its Series D at $200 million. Press release: Tabby, the MENA's leading financial services and shopping app, has raised $160 million in a Series E financing round at a $3.3 billion valuation, cementing Tabby as the most valuable fintech company in the region. The round was led by existing investors Blue Pool Capital and Hassana Investment Company and drew additional participation from STV and Wellington Management. Since the last funding round in October 2023, the financial services app has almost doubled its annualised transaction volumes to over $10 billion while growing profitability. The company recently acquired Tweeq, a Saudi-based digital wallet, expanding its product portfolio. It has introduced Tabby Card for flexible payments beyond checkout and Tabby Plus, a subscription program. Additionally, it has evolved its core buy now, pay later offering with longer-term payment plans, Tabby Shop to help users find the best deals, and Tabby Care, a buyer protection program. The funds will be primarily used to accelerate the expansion of Tabby's financial services, including digital spending accounts, payments, cards, and money management tools, while advancing Saudi Arabia's Vision 2030 goals by driving the Kingdom's cashless economy forward. This financing round positions Tabby strongly as it prepares for its upcoming IPO, signalling a pivotal step in its growth journey and reinforcing its ability to deliver the next generation of financial services across the Middle East. Hosam Arab, CEO and Co-Founder at Tabby, said, 'This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. We're focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.' Christopher Wu, Chief Investment Officer at Blue Pool Capital, said, 'Tabby's ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency set them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.' Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, said, 'We are consistently impressed with Tabby's remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby's bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.' Tabby begins 2025 with more than 15 million registered users and over 40,000 sellers, driving an annualised sales volume of over $10 billion.
