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Kelvin Panitpichetvong has launched Succession Capital, a self-funded SF with the goal of acquiring a business in Hong Kong generating HKD5-20M ($0.5-2.5M) in EBITDA. His strategy aims to capitalize on two major trends in the region: an aging population and Hong Kong’s emergence as a growing global wealth hub.
The proportion of residents aged 65 and over is projected to rise from 10% in 2021 to 20% by 2031. At the same time, the government continues to attract family offices and high-net-worth individuals to the city by promoting its business-friendly environment, including low taxes, a common law legal system, and free movement of capital.
Kelvin sees strong potential in sectors such as eldercare, medical aesthetics, wellness, and recurring luxury services. He chose the self-funded model for the autonomy and flexibility it offers, free from the pressure to deploy capital quickly and better able to pursue opportunities that may fall outside typical investor mandates. However, he has already secured soft commitments from local investors to support him once he identifies a suitable target.
Kelvin brings over a decade of experience in the financial industry. Most recently, he served as Vice President at Bank of America, managing risk for the APAC Distressed Debt and Special Situations Trading Desk. He has also held various roles in credit and corporate banking at both Bank of America and HSBC. Academically, he holds a Master of Management Studies from Duke University’s Fuqua School of Business and a BSc in Economics from the London School of Economics.
Kelvin believes there is a significant opportunity for SFs in Hong Kong. The number of SME listings has recently increased, driven not only by demographic trends similar to other advanced economies, but also by the departure of both expatriates and local residents in recent years. Moreover, the concept of EtA remains relatively unknown in Hong Kong. With few searchers active in the market, competition is limited, and business owners are more receptive to engaging with potential buyers.
