MioTech, a Hong Kong-based provider of alternative data and insights serving the environmental, social, and governance (ESG) and know your customer (KYC) markets in Greater China, received a minority investment from Moody’s Corporation (NYSE:MCO).
The amount of the deal was not disclosed.
The investment reflects Moody’s commitment to providing China’s evolving financial markets with innovative ESG and KYC solutions.
Led by Jason Tu, CEO and Co-founder, MioTech uses artificial intelligence (AI) to track and scan alternative data sources related to ESG and KYC factors, supply chains, and financial information for over 800,000 public and private companies in China. Its analytical tools are designed to turn unstructured datasets into insights for portfolio managers, research analysts, and risk managers, and its AI algorithms detect entities’ vulnerabilities by monitoring news, social media, disclosure, and other forms of alternative data in real-time.
Moody’s and its affiliates will seek to incorporate MioTech’s alternative data and product offerings to streamline analytical processes, monitor portfolios, inform risk assessments, accelerate product developments, and deepen coverage of China. MioTech will continue to operate as an independent entity.