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Capital isn't just financial.

Consulting & Financial Services · Asia Pacific

We structure the capital behind cultural landmarks, urban infrastructure, and digital finance instruments — from Hong Kong to the Greater Bay Area and across Asia Pacific.

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3 Investment Verticals
HK Headquartered
GBA Primary Market
APAC Expansion Focus
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Culture Activation· Infrastructure Strategy· Digital Finance· IP Investment· RWA Tokenisation· Cultural Advisory· LPF Structures· East Air· Urban Development· Creative Capital· Culture Activation· Infrastructure Strategy· Digital Finance· IP Investment· RWA Tokenisation· Cultural Advisory· LPF Structures· East Air· Urban Development· Creative Capital·
About Black Sea Capital

The financial intelligence
behind every GPG initiative.

Black Sea Capital is the consulting, financial services, and investment engine of Giant Panda Group — combining deep domain expertise with financial innovation to structure, de-risk, and activate investments at the intersection of culture, urban development, and digital finance. Our capabilities span advisory, capital structuring, and direct equity investment across cultural, infrastructure, and technology sectors.

From cultural project advisory and private equity transactions to pioneering digital finance instruments — RWA tokens backed by venue revenue, LPF structures, and utility token ecosystems — Black Sea Capital is the creative capital architecture behind every GPG initiative.

Explore Services
01

De-risk at Source

Real operational data from construction and culture informs every financial model before securitisation.

02

Creative Capital Stack

LPF structures, RWA security tokens, and utility tokens create layered, accessible investment pathways.

03

Culture × Finance

Bridging the gap between cultural IP, live experiences, and institutional capital across GBA and Asia Pacific.

04

Lean & Connected

Minimal core headcount, maximum partner leverage — connecting Hong Kong pilot projects to markets across Asia Pacific and beyond.

What We Do

Three engines.
One vision.

01

Infrastructure & RWA Thinktank

Structuring Hong Kong's first cultural venue real-world asset — blending infrastructure frameworks, LPF vehicles, and RWA tokenisation to de-risk cultural infrastructure investment. We bridge public policy, private capital, and digital finance.

  • RWA Structuring
  • Infrastructure Frameworks
  • Cultural Infrastructure
  • LPF Vehicles
  • Tokenisation
↗
02

Culture Investment Advisory

End-to-end advisory on cultural project investment — feasibility studies, finance structuring, IP strategy, and operational frameworks. From live entertainment to cultural campus districts, we structure the capital that makes culture possible.

  • Feasibility Studies
  • IP Strategy
  • Live Entertainment
  • Cultural Districts
  • EAST Framework
↗
03

Digital Finance Sandbox

Research-driven insights and instrument design for digital finance — including RWA tokenisation (converting real-world assets into blockchain-based securities), LPF structures, and utility tokens — built for GBA and Asia Pacific markets. We translate regulatory frameworks into actionable investment instruments.

  • RWA Tokenisation
  • LPF Structures
  • DPT / DVT Tokens
  • GBA Markets
  • SFC Compliance
↗
Portfolio

Capital at work
across three verticals.

Flagship · Kai Tak, Hong Kong

Runway 1331 × Demain Habitat

Hong Kong's first AI-designed, sustainably financed youth hostel and cultural campus at Kai Tak — 504 rooms, integrated cultural programming, and the East Air venue complex.

Kai Tak, HK· 504 Rooms· Cultural Campus· GPG Platform
Live Venue · East Air

East Air Venues

East Dome (3,000–5,500 capacity indoor stadium) and East Panorama (outdoor cultural space) — together forming the East Air complex at Kai Tak, powered by AIR Inflatable Architecture.

5,500 Capacity· Indoor + Outdoor· AIR System
Live Events · AHM Production

Event Organisation Investment

Strategic investment in live event production through AHM Production — delivering concerts, cultural shows, and international artist runs across Asia Pacific.

AHM Production· Asia Pacific· Japanese & Korean IP
Digital IP · Asia Pacific

Digital IP Portfolio

Investment in digital intellectual property — original content creation, digital licensing frameworks, and IP-backed tokenisation strategies through Demain's Agentic IP Lab.

Demain IP Lab· Japanese & Korean IP· GBA Markets· Tokenisation
Physical IP · EAST Framework

Physical IP Investments

Licensing and distribution of physical cultural IP — Japanese and Korean entertainment, sports, arts and tourism experiences deployed across Asia Pacific through the EAST framework.

Japan & Korea IP· EAST Framework· APAC
RWA · Digital Finance

RWA Token Structures

Real World Asset tokenisation — structuring and issuing security tokens backed by real estate, cultural infrastructure, and operational cash flows. Designed and compliant for HK SFC frameworks and GBA digital finance regulations.

SFC Compliant· HK + GBA· Security Tokens· RWA
DPT / DVT · Utility Tokens

DPT & DVT Token Strategy

Design and deployment of utility token ecosystems — creating layered, accessible investment pathways for retail and institutional participants across the GPG platform.

DPT + DVT· Utility Tokens· LPF
Insights

Tokenising culture.
Financing the future.

RWA · SFC Approved · Hong Kong First
2026 · Kai Tak, Hong Kong

Hong Kong's First Cultural Venue RWA

Black Sea Capital is pioneering Hong Kong's first Real-World Asset (RWA) tokenisation for cultural venues — converting the revenue streams of Runway 1331, Habitat, and East Air Venues into blockchain-based securities approved by the SFC.

This Revenue Stream Financing model allows investors to participate in the cultural economy through tokenised ownership, while venues retain operational control and benefit from diversified capital sources.

Click to explore RWA structure →
Infrastructure · IBO · Archived
2024 · Hong Kong

Infrastructure Capital Structure

East Air was structured as a Public-Private Partnership under the IBO model — private capital funds construction, the venue is contributed as a cultural facility to Hong Kong, and operational revenue repays investors over time.

Enquire →
Digital Finance · Tokenisation
Active · Hong Kong

Structuring Digital Assets for Cultural Economy

Beyond RWA, Black Sea Capital advises on DPT (DeMain Production Token) and DVT (DeMain Venue Token) — utility tokens powering Hong Kong's cultural economy. From token structure to regulatory compliance, we bridge traditional finance and digital assets.

Enquire →
The Team

People who
bridge worlds.

Black Sea Capital brings together practitioners across equity investment, digital finance, cultural infrastructure, and RWA tokenisation — delivering Hong Kong's first cultural venue real-world asset with a dedicated cross-disciplinary team.

Oscar Ng
Chairman · Giant Panda Group
Oscar Ng
Founder & Chairman, Giant Panda Group
Principal, APU Limited

Architect and master planner with 15+ years across HK, GBA and APAC. Founder of Giant Panda Group — integrating technology, finance, architecture, and cultural IP into a single urban development platform.

Master PlanningUrban DevelopmentBIM
Giant Panda Group →
Dr. Tat Lam
Head · Black Sea Capital
Dr. Tat Lam
VP & COO, Giant Panda Group
Adjunct Assoc. Prof., CUHK

PhD (UCL Bartlett) · MArch (Columbia). Specialist in development finance and infrastructure structures for ADB, AfDB and UNDP. PMO of Black Sea Capital's RWA programme — structuring Hong Kong's first cultural venue real-world asset.

Infrastructure FinanceRWA PMOCBDC
Giant Panda Group →
Able Yang
Investment · Transactions
Able Yang
Investment Director

Chinese Certified Public Accountant (CPA) and Fund Practitioner. Over 8 years of experience in private equity investment and strategic transactions, including roles at listed companies and large-scale real estate groups. Led and participated in equity investment transactions totaling over RMB 578 million, covering investments, divestments, and share disposals across sectors including consumer, cultural & education, and semiconductor industries. Founder of the WeChat investment platform "ROIC Memo", publishing insights and analyses on investment strategy, valuation, and transaction execution, with a growing readership among investment professionals.

Equity InvestmentCPADeal Structuring
The Ecosystem

Part of something
bigger.

Black Sea Capital is one of four tightly integrated subsidiaries of Giant Panda Group — a single closed-loop platform combining intelligence, finance, architecture, and cultural IP.

Visit Giant Panda Group →
Parent Group
Giant Panda Group
大熊猫集团投资控股有限公司

A Hong Kong–headquartered investment holding group operating an integrated platform of technology, finance, architecture, and cultural IP across Asia Pacific and the Greater Bay Area.

IntelligenceFinanceArchitectureCulture IP
Visit Giant Panda Group →
You are here
Black Sea Capital

Consulting & Financial Services · LPF · RWA · Digital Finance · Infrastructure Advisory

Capricorn Technology

AI Brain & Ideation · Digital Twins · HHAI OS

Visit capricorn.hk ↗
XOX International

Architecture & Construction · AIR Inflatable System

Visit xox.world ↗
Demain Culture 未来文化

EAST · AHM Production · Japan & Korea IP

Visit demain.hk ↗
Get in Touch

Let's build
something together.

Whether you're structuring an infrastructure project, investing in culture, or exploring digital finance — Black Sea Capital is the partner that bridges capital and creativity.

Hong Kong Office Suites 1218–1219, 12/F
Chevalier Commercial Centre
8 Wang Hoi Road, Kowloon Bay
Hong Kong SAR
Guangzhou Office Room 2604A, 26/F, KB Plaza
18 Huacheng Avenue
Tianhe District, Guangzhou
China
General Enquiries Tel: +852 2129 0190
Fax: +852 3520 9946
info@blackseacapital.world
Market Focus Greater Bay Area · Asia Pacific
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