Chow Brothers Spill More Details About Investing $100m In Techs

NBR Rich Listers Chow Brothers John and Michael Chow are playing their cards close to their chest about their plan to invest more than $100 million in technology companies over the next three years.

But talking to NBR from Fiji, where he and his brother are hosting an event for Stonewood Homes, John Chow filled out a few more details about the sort of tech businesses they’ll be looking at.

Although the rags-to-riches pair are best known for their work in property and the sex industry (now a relatively small part of their empire), John Chow did a degree in computer science at Victoria, and has always maintained an interest in the sector.

As part of The Chow Group’s broader bid to build an asset portfolio worth at least $1 billion, the brothers are also looking for a strategic corporate adviser.

Here’s NBR’s Q+A with John Chow:

NBR: Are you looking at investing in tech companies in any particular area?
John Chow: Yes, our background and experience is in the finance and property sector. We would like to look into FinTech companies that can merge the two. Having said that, we are not limiting ourselves and are exploring all available opportunities that we believe in.

Are you looking at startups, or more mature tech companies?
We are looking at both. A more mature company is preferable, with a demonstrable proof-of-concept.

However, if a start-up presents itself with a truly revolutionary concept that we can grow and expand on, then we are excited to explore that opportunity too.

You’ve said that seven years ago, you and your brother lost $3 million on an (un-named) tech company offshore. What did you learn from that experience?
To be successful you need to learn from, and move past, mistakes. In fact, mistakes are a vital component of success.

I understand the importance of realising mistakes early, and learning from them. I was ahead of my time, but now the market is ready, I am more experienced and equipped to make the next venture a success.

Are you looking at NZ tech companies or overseas?
I have explored New Zealand the United States and the United Kingdom.

I am primarily focused on New Zealand, but if I identify a great company overseas I am ready to work with them to grow both in New Zealand and internationally.

Read original article on NBR.