Gobi Partners
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2002 |
| Founder | Thomas Tsao, Lawrence Tse, Wai Kit Lau |
| Headquarters | Kuala Lumpur and Hong Kong , Malaysia and Hong Kong |
Area served | China, Southeast Asia, Pakistan |
| Products | Venture capital funds |
Gobi Partners (commonly known as Gobi) is a venture capital firm based in Asia, with main offices located in Kuala Lumpur, Malaysia and Hong Kong. The firm concentrates its investment efforts predominantly within China and the Southeast Asia region.
Background
Established in 2002 by Thomas Tsao, Lawrence Tse, and Wai Kit Lau—who previously worked at San Francisco-based VC WI Harper—Gobi capitalized on the founders’ varied expertise spanning banking, engineering, and legal fields, combined with proficiency in Chinese, to strengthen their negotiation capabilities. The company, registered in the Cayman Islands and named after the Gobi Desert, was initially backed by $3 million of personal funds from the founders, who also postponed their salaries until the investments began generating returns. Their initial investment came after six months of thorough market analysis.
By 2005, Gobi successfully closed its first fund at $50 million, with a significant $10 million contribution from strategic partner Sierra Ventures. Other key investors included corporations such as IBM, Nippon Telegraph and Telephone, Docomo, McGraw Hill, and The Walt Disney Company. Although there was an initial intention to return capital to limited partners early on, encouragement from Sierra Ventures led Gobi to pursue further expansion.
Throughout the 2000s, Gobi emerged as one of the pioneering venture capital firms investing in China’s technology sector despite regulatory ambiguities concerning Internet businesses. In 2010, the firm extended its reach into Southeast Asia, identifying similarities between the region’s growth prospects and China’s market during the early 2000s. The launch of its inaugural Southeast Asia Fund attracted investors including the Media Development Authority. By March 2016, Gobi had raised $14.5 million to back technology enterprises across Southeast Asia, supporting initiatives such as Tripfez Travel, which targets Muslim consumers.
In November 2015, Gobi was appointed by Alibaba Group to oversee a $130 million fund aimed at startups based in Hong Kong.
In 2019, Gobi collaborated with Pakistani venture capital firm Fatima Ventures to create Fatima Gobi Ventures, securing $20 million for investment in Pakistani startups. By May 2024, due to Pakistan’s youthful demographic, increasing adoption of internet and mobile banking services, governmental incentives for investors, and strengthened ties between China and Pakistan, Gobi was actively pursuing additional opportunities within Pakistan. Plans were set by December 2024 to launch a second fund amounting to $50 million—the largest VC fund dedicated to Pakistan—with participation from investors such as Black Sheep Restaurants.
In December 2022, Gobi designated the Guangdong–Hong Kong–Macao Greater Bay Area (GBA) as its forthcoming strategic focus for investments within China. This decision leveraged its established presence across Hong Kong and mainland China to capitalize on regional development prospects.
Corporate affairs
Originally headquartered in Shanghai, Gobi Partners later established dual headquarters in both Kuala Lumpur, Malaysia and Hong Kong.
Among its prominent portfolio companies are Animoca Brands, GOGOX, Prenetics, WeLab, Xingyun, and Airwallex.