Japan · Investor

PAG

Last cheque observed May 2019. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

QuietAngel

Series BSeries CSeries AMobilePaymentsReal Estate

Cheques on record
0%of best year0cheques in 12 months, 7 on record
Since the last cheque2709days00hrs00min00sec
Median round$80MRounds led1 of 7Sole investor3 roundsMostly inChina, 86%
Pitch PAG

PAG highlights

  1. 01

    7 rounds on record

  2. 02

    Mostly Series B and Series C: 67% of its rounds

  3. 03

    Sole investor in 3 rounds, median $32M

What they do

Type
Angel (from a list, unverified)
Cheque size
Not stated
Sectors
MobilePaymentsReal Estate
Based in
n/a, Japan
Cold pitches
Not stated

The record

Every round we can evidence, newest first7 appearances

  1. 2019

    1 round

  2. May
    Alphamab OncologySeries B · CN · FinSMEs$60MWith 4 others
  3. 2018

    2 rounds

  4. Nov
    Alphamab OncologySeries A · CN · FinSMEs$100MWith 5 others
  5. Apr
    ShengxinbaoCN · China Money Network$32MSole investor
  6. 2017

    3 rounds

  7. Jul
    DashuSeries C · CN · AVCJ$128MLed
  8. Mar
    Dadao FinancialSeries B · CN · China Money Network$29MWith 1 other
  9. Mar
    ChezhibaoSeries C · CN · DealStreetAsia$100MSole investor
  10. 2013

    1 round

  11. Mar
    COSMIC COLORVenture · KR$18KSole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration6 named

CMChristopher Marcus GradelDirector (Pag)iForm ADV
DRDerek Roy CraneDirector and Group Chief Operating Officer (Pag)iForm ADV
JPJon Paul ToppinoDirector (Pag)iForm ADV
KYKevin Yuk Lung ChanGroup Head of Compliance (Pag)iForm ADV
TMTimothy Montfort GardnerGroup General Counsel (Pag)iForm ADV
WSWeijian ShanDirector 07/2010 and Chairman 10/2010 and Shareholder 03/2011 (Pag)iForm ADV

We also hold 43 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

What the register says

From the firm's own filings with the SEC, which it must file accurately by law

$29Bgross assets of its fundsOct 2026
Exemptreporting adviserventure or small private funds
Legal name
PAG
SEC number
CRD 161814

Who they invest alongside

The investors most often in the same rounds as PAG. A count of rooms they were both in, not a relationship either has claimed.

Advantech CapitalPrivate equity2rounds together

Quick answers about PAG

What does PAG invest in?

PAG invests most often at Series B and Series C (67% of the rounds on record), in sectors such as Mobile, Payments and Real Estate.

How active is PAG?

7 investments on record, 0 of them in the last 12 months, and it led 1. The most recent was in May 2019.

What has PAG invested in recently?

Its most recent investments on record: Alphamab Oncology (Series B, May 2019), Shengxinbao (Undisclosed round, Apr 2018) and Dashu (Series C, Jul 2017).

How big are PAG's cheques?

The median round it joins is $80M.

Does PAG lead rounds?

Sometimes: it led 1 of its 7 investments on record (14%).

Where does PAG invest?

Most of the companies it backs are in China (86%) and South Korea (14%).

Is PAG investing now?

No investments in the last 12 months; the latest was in May 2019.

Who does PAG invest alongside?

Most often Advantech Capital (2 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it