The move demonstrates Singapore's growing importance as a financial hub across a variety of fronts.

Hong Kong-based business figure Li Ka-Shing’s private investment firm, Horizons Ventures, is opening a Singapore office to explore new deals and support companies trying to expand in the region, Bloomberg reported. 

As many as 10 staff will be based in Singapore, including Jacky Li, a senior investment manager who will concentrate on executing deals, and Jeffrey Ho is the portfolio curator, the article said. 

The move came a year after the firm indicated that it wanted to increase deals in the region and it will be the first Horizon office outside Hong Kong. 

The change highlights how Singapore and Hong Kong are in various ways rival hubs for entities such as family offices and private investment offices. Singapore, as reported here, has recently established new rules for family offices. The two jurisdictions’ structures have been compared and contrasted here.

Among recent deals, Horizon Ventures took part in a $68 million financing of Ansa Biotechnologies’ Series A financing round. The firm works on synthesizing complex DNA sequences. The process is designed to boost innovation across areas such as biologic drugs to DNA-based data storage. It also participated in a $36 million Series A funding round for Voyage Foods (source: Crunchbase). 

Horizon focuses on venture capital and is based in Hong Kong.