The venture is starting in Singapore and will eventually be set up in Hong Kong, the group said.

Raffles Family Office, the Asian wealth management group, has formed a joint venture with WorkTech, a co-working space brand in Hong Kong. The new JV, Raffles Tech, aims to gather different players in wealth management industry under one roof.

For example, organisations such as other single family offices, private equity, real estate, venture capital funds, finance and legal services can work from the same base, RFO said in a statement last Friday.

The JV is being launched to tap into the need for business networks and connections for small- and medium-sized enterprises and startups in the wealth management arena.

The JV combines Raffles Family Office’s influence and networks in the financial industry and WorkTech’s resources and operational experiences. 

Raffles Tech offers membership programmes which provide opportunities to work side-by-side with potential business partners and access to all business events such as seminars and networking gatherings. 

The JV intends to start in Singapore first, then expand to Hong Kong. The first location - a collaborative workspace, largely open-plan with a work and leisure area - will be opened on 5 December at One Raffles Place, in Singapore's financial district.