Ryan Holsheimer, a former JPMorgan Chase & Co. banker, is launching a new firm called Admiralty Capital Group, focusing on early-stage investments. Headquartered in Australia’s Gold Coast, the firm aims to invest both locally and internationally. Holsheimer, who previously served as the Asia-Pacific head of cash equity and equities distribution at JPMorgan in Hong Kong, intends to commence fundraising for the venture over the next two months.
Admiralty Capital Group plans to close its fund by the end of June and begin deploying capital in the third quarter. Holsheimer believes that the current state of the venture capital industry, marked by reduced interest and challenges in making exits, presents an opportune moment to enter the market. He personally leads the largest investment in his fund and anticipates that investing at this stage of the cycle, when immediate selling pressure is not necessary, will yield favorable returns.
Having spent a significant portion of his career in Hong Kong, Holsheimer returned to Australia in 2022 for personal reasons and initially intended to retire. However, he has now decided to come out of retirement and leverage his extensive network of wealthy families in Queensland and senior finance executives, including asset managers, hedge funds, and former colleagues, for fundraising purposes.
New Venture
Admiralty Capital Group, under Holsheimer’s leadership, is set to invest in companies not only in Hong Kong and China but also in other regions. The firm’s investment spectrum ranges from startups with just a prototype on their phone to those seeking funding in the range of $10 million to $20 million. Their investment strategy focuses on achieving exits from investments within 5 to 7 years.
Already, the firm has made investments in various startups, including Asia-based Web3 and blockchain firm BlockTrust, as well as Feasly, an Australian property technology company. With a target of attaining a 20% return per year net of fees, Holsheimer is optimistic about the firm’s growth trajectory.
Looking ahead, Holsheimer anticipates expanding Admiralty Capital Group to around 10 personnel by the end of the year, primarily in investment manager roles. He expresses openness to having the right talent based in Hong Kong, emphasizing the potential benefits of such a strategic location.
Additionally, Holsheimer has plans to launch a fund of hedge funds later in the year, focusing on investing in younger hedge funds. However, his immediate focus remains on the venture capital fund.
Despite leaving Hong Kong during the pandemic and currently residing in the Gold Coast, Holsheimer remains open to the possibility of returning to Hong Kong in the future. While he considers the Gold Coast his hometown, he acknowledges the potential allure of Hong Kong and expresses enthusiasm about the prospect of returning if circumstances align.