# PAG: angel investments and portfolio > PAG is an angel based in Japan. 7 investments on record, latest May 2019. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/pag (Millionrounds; every figure on the page links to its filing or article) Japan · [Investor](https://millionrounds.com/investors) # PAG Last cheque observed May 2019. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Quiet Angel Series B Series C Series A Mobile Payments Real Estate Cheques on record **0%** of best year **0** **cheques in 12 months**, 7 on record Since the last cheque **2709** days **00** hrs **00** min **00** sec Median round **$80M** Rounds led **1 of 7** Sole investor **3 rounds** Mostly in **China, 86%** Pitch PAG ## PAG highlights - 01 7 rounds on record - 02 Mostly Series B and Series C: 67% of its rounds - 03 Sole investor in 3 rounds, median $32M ## What they do - **Type:** Angel (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Mobile Payments Real Estate - **Based in:** n/a, Japan - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **7 appearances** - **2019** 1 round - **May** **[Alphamab Oncology](https://millionrounds.com/company/alphamab-oncology)** Series B · CN · FinSMEs **$60M** With 4 others - **2018** 2 rounds - **Nov** **[Alphamab Oncology](https://millionrounds.com/company/alphamab-oncology)** Series A · CN · FinSMEs **$100M** With 5 others - **Apr** **[Shengxinbao](https://millionrounds.com/company/shengxinbao)** CN · China Money Network **$32M** Sole investor - **2017** 3 rounds - **Jul** **[Dashu](https://millionrounds.com/company/dashu)** Series C · CN · AVCJ **$128M** *Led* - **Mar** **[Dadao Financial](https://millionrounds.com/company/dadao-financial)** Series B · CN · China Money Network **$29M** With 1 other - **Mar** **[Chezhibao](https://millionrounds.com/company/chezhibao)** Series C · CN · DealStreetAsia **$100M** Sole investor - **2013** 1 round - **Mar** **[COSMIC COLOR](https://millionrounds.com/company/cosmic-color)** Venture · KR **$18K** Sole 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 registration **6 named** CM **Christopher Marcus Gradel** Director (Pag) i Form ADV DR **Derek Roy Crane** Director and Group Chief Operating Officer (Pag) i Form ADV JP **Jon Paul Toppino** Director (Pag) i Form ADV KY **Kevin Yuk Lung Chan** Group Head of Compliance (Pag) i Form ADV TM **Timothy Montfort Gardner** Group General Counsel (Pag) i Form ADV WS **Weijian Shan** Director 07/2010 and Chairman 10/2010 and Shareholder 03/2011 (Pag) i Form 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 **$29B** gross assets of its funds Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** PAG - **SEC number:** CRD 161814 ## The cheque Series B Series C Series A Median round joined **$80M** the round, not its cheque Alone, median **$32M** Led 1 of 7 rounds **14%** - **Sole investor:** 3 rounds - **Last cheque:** May 2019 Rounds by stage said on their site - Series B *2* - Series C *2* - Series A *1* - Venture *1* Cheques by year Led Joined 2013 2019 Often in the room with - [Advantech Capital](https://millionrounds.com/fund/advantech-capital) 2 **Pitching PAG?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## 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 Capital** Private equity **2** rounds together](https://millionrounds.com/fund/advantech-capital) ## 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). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=pag) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=pag)