Internet incubator weathers dotcom downturn

Techpacific.com, famous for achieving the biggest first day drop on Hong Kong''s GEM, reported interim revenues up 800% on a year ago.

Techpacific.com, a venture capitalist that invests in, nurtures and arranges financing for start-up technology companies in Asia, has recorded an 800% rise in turnover in the first half of this year, posting revenues of $3.29 million compared with just $357,000 for the same period last year. For the second quarter, revenues were $1.74 million, suggesting the tech sector's fall from grace had little impact on its operations.

The company's revenues comprise advisory fees, placing commissions, fund management charges and interest income. For the first half of this year, interest income played quite a significant role, contributing almost $600,000 to Techpacific.com's top line, some $550,000 of which was recorded in the second quarter...

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