Novel Investments

The Chao family, through Silas Chou and his partners, first acquired Tommy Hilfiger via Sportswear Holdings in 1989 and later took it public. They subsequently made a transformative investment in Michael Kors through the same vehicle, which went public in 2011. Those exits generated the liquid capital that Novel Investments now deploys. Novel Investments does not currently hold controlling stakes in those brands.

The firm concentrates on Greater China and India. Its Indian presence is particularly visible in commercial real estate, where it owns and operates multiple tech parks in Bangalore including Novel Tech Park and Novel Brigade Tech Park. Deal sourcing draws on the family's networks across Hong Kong, mainland China, and the wider East Asian region.

The firm's mandate covers the full spectrum: seed-stage venture, early-stage startups, expansion and late-stage growth, direct buyouts, mezzanine debt, special situations, and turnarounds. It also commits to external funds as a limited partner. This breadth reflects the Chao family's operations-first background and comfort with both minority and control positions.

The Bai Xian Community is the professional network of alumni and leaders tied to the Bai Xian Asia Institute. Ronna Chao's dual role as CEO of the institute and Managing Director of Novel Investments creates a talent-and-deal pipeline that connects the family's investing arm with a curated network of scholars and entrepreneurs across East Asia.