(HONG KONG) The East Asia Basketball Association (EABA) announces strategic partnership with pan-Asia VC firm Gobi Partners to accelerate the formation of a new East Asia professional basketball league headquartered in Hong Kong.
Gobi Partners will advise the EABA with on-the-ground startup knowledge and provide financial support to “Project REAL”, the strategic initiative to establish a new pan-regional league under the EABA’s framework. Joint promotion of emerging sports-related technologies is also among the key aspects of this partnership.
Starting in 2024, the new league plans to invite top clubs from Mainland China, Japan, Korea, Mongolia, Hong Kong, Taiwan and Macao to compete at the highest level of club basketball in East Asia.
Founded in 2002, Gobi Partners has invested in over 380 companies. It also exclusively manages the Alibaba-backed AEF GBA Fund, which recently has reached HK$2 billion fund size.
Mr.Chibo Tang, Managing Partner of Gobi Partners GBA, said: “We believe Project REAL presents a unique opportunity for East Asia basketball and Greater Bay Area can play a vital role in it. We are happy to endorse the initiative from early on to ensure its success.”
Mr.Jay Li, Head of Project REAL and Advisor to EABA President Mr.Yao Ming, said: “It’s exciting to be able to bring on board Gobi Partners as an institutional backer preparing for the inception of a new league. Thanks for their pioneering commitment to help further develop the sport of basketball in this region.”
For more information regarding Project REAL, please contact: info@projectreal.team