Desert Gold: As China Reopens, Gobi Partners Digs Deep Into The Greater Bay Area

Desert Gold: As China Reopens, Gobi Partners Digs Deep Into The Greater Bay Area

Share to Linkedin Flanked by walls of sand, Chibo Tang faced an "existential moment" in the dunes of Saudi Arabia – a career crisis that he says amounted to fate, or serendipity, as it led him to join an Asian venture capital firm named after the Gobi desert. "I was sitting out there in the middle of the desert, outside of Riyadh. And I was just like, 'what the hell am I doing out here?'" says Tang, managing partner of Gobi Partners, in an interview from his office in Hong Kong. The former consultant developed marketing strategies for companies across the Middle East, but he felt unfulfilled crafting PowerPoints that clients would quickly discard. Looking for "something a little bit more impactful," he quit his job and entered the world of venture capital. A decade later, Tang, 37, stands out as one of Asia's leading investors for startups. His investments through Gobi Partners span 67 companies and eight unicorns, startups that achieved a valuation exceeding $1 billion. These include blockchain gaming developer Animoca Brands, delivery services provider GogoX, Covid-19 testing giant Prenetics, fintech giant WeLab and e-commerce platform Xingyun. In May, Prenetics became the first Hong Kong-based startup to list