Tatum Keshwar (now Tatum Wheatley) is the executive director of Altvest Credit Opportunities Fund, part of Altvest Capital, an investment platform aimed at democratising investment opportunities for South Africans. The company recently launched the Altvest Orient Opportunities Fund to connect South Africans to that market. From shopping to mixing with locals, Tatum told us about her trip.
I was in China… in September as part of a team of South Africans who were going over for an investor mission to meet and conduct due diligence procedures on Chinese investment firms with RisCura. We were looking into the investments that RisCura had deployed into Chinese tech and Chinese green energy venture capitals. So essentially, I was there for work, but I had the most amazing time, learning, doing a bit of business, sightseeing, networking and of course, shopping because China has a luxury industry like no other!
My highlights of the trip were staying at some of the most decadent hotels, where customer service and experience are second to none. I thoroughly enjoyed the Mandarin Oriental, even though staying on the 74th floor was a heady experience, thanks to the height and the height of luxury and indulgence!
Our team were hosted by many asset managers and investee companies where we experienced true Chinese hospitality. We had access to and were hosted by companies like electric vehicle companies second to Tesla, BYD, and Tencent. Meeting the Founders and CEOs of these companies gave me my business boss babe fangirl moment. And of course, because there were many meetings, we dined at both the chicest restaurants and the authentic places that all the locals go.
My biggest splurge was silk and Pearls! RisCura’s Hong Kong international analyst, a gracious young lady named Janice, who doubled up as our interpreter, took us shopping at the little alleyways with the most beautiful traditional Chinese gowns. I bought two of them, and can’t wait to wear them somewhere special. I also bought a pair of Akoya pearl and diamond earrings, in the prettiest pinky-grey colour from a pearl market in the heart of downtown China, where you can even find turtles up for sale if you look hard enough!
Shopping in China is way better than…the Diamond Walk or the luxurious Dubai malls. We visited a shopping mall that had an entire floor dedicated to kids (Gucci Kids, LV Kids. Hermes Kids, Goyard Kids etc.). In addition, many brands have yet to hit our shores.
I discovered that in China wealth is quiet, modesty is the ultimate chic and WeChat is the new EVERYTHING! There, your WhatsApp will not work, unless you download an app like Nomad, which allows you to buy an eSim and can then bypass having to set your roaming on. WeChat is the Chinese super version of WhatsApp, but so much more sophisticated! You can use it as a translator; to make cardless payments, and investments, to find local hotspots for dining and shopping and of course to communicate. But you can only complete the download by being endorsed by 3 other users. So inner circle only.
My favourite dish was the Peking Duck and of course the Chinese hot pot spots for that very authentic experience.
The most important business lesson I learnt was “get in early and stay the course!” We met so many Founders and CEOs of Chinese venture capital-funded companies that were impacted by venture capital from South Africa’s various funds. These companies went on to grow and eventually listed on the Hong Kong or Shanghai Stock Exchange, and those relatively small South African funds that invested in them have sky-rocketed in value, with shareholders really benefiting from that early investment to the then-little-known companies like Tencent and BYD (Tesla’s main competition in electric vehicles.)
Business in China is booming! It honestly is alive with possibilities and options.
The trip taught me to be more adventurous in my destination choices. I’m having a love affair with The East and its culture and way of life and even its business opportunities!
Money is a fantastic tool, that if you use it cleverly can open a world of possibility that isn’t accessed by everyone, if you take that leap and apply yourself to the opportunities right under your nose.
What is AOOF and why should you care?
The AOOF is an investment fund that will allow investors, particularly from South Africa, to invest their savings in the booming Chinese markets. The primary focus of the AOOF will be to find exciting start-up companies in China that have either developed pioneering technology, invented groundbreaking medicines, or some other innovative ideas.
AOOF will focus on 3 core sectors.
- Technology (AI, semiconductor chips, robotics etc.)
- Health Care (Vaccines, cancer treatments, and other new medicines)
- Renewable Energy (Electric vehicles and other technologies)
You can invest through EasyEquities or through an accredited JSE broker. Alternatively contact: [email protected] for help.
