Hong Kong tycoon Li Ka-shing’s private investment firm Horizons Ventures will make Southeast Asia a priority, with the region’s digital economy booming as the pandemic drives more people to use the internet.

Horizons Ventures will focus in particular on Southeast Asia’s biggest market, Indonesia, co-founder Solina Chau, Li’s long-time confidante, told Bloomberg News in a statement sent by text message.

The firm, whose early bet on Zoom Video Communications contributed to a surge in Li’s wealth during the pandemic, has over the past year invested in three Indonesia-based startups in funding rounds that have raised more than US$210 million ($278 million). Partnering up with Jakarta’s Alpha JWC Ventures, one of Southeast Asia’s largest venture capitalists, Horizons seeks to identify young companies that could be the region’s next most popular.

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