Florian M. Spiegl

Connecting investors and founders to create a better future @ Evident. Builder, investor, economist. Be the change.

[Florian M. Spiegl @fmspiegl]

Reminder that "AI" is not a new thing...

[Eric Forgy @EricForgy]

I was on a panel discussing AI in asset management with @charlesdhaussy and @fmspiegl hosted by @HenriArslanian and @FintechBalerina sometime around 2016 (nostalgic image below) and that was a turning point. AI was able to caption images meaning they were becoming context aware.

[Florian M. Spiegl @fmspiegl]

The 60/40 portfolio is a 1980s artefact. Its logic was diversification: bonds rising when equities fell. That broke; in the last shocks, both fell together. Private assets follow fundamentals, not only market-wide flows. Add them and the whole risk-return curve lifts: higher return, steadier path.

[Mpost Media Group @mpost_io]

#HSCLifeRules - Florian M Spiegl (@fmspiegl), Founder & CEO at @EVIDENT_Capital, HSC Asset Management Hong Kong, April 23

Right now, if you're a private investor trying to access private markets, you're breaking your thumbs on WeChat and WhatsApp all day, texting people in your network. It's local and limited. Tokenization does what e-commerce did - it connects dispersed liquidity pools and builds capital bridges across them

#HSCAssetManagement

[Florian M. Spiegl @fmspiegl]

Worth watching private high-tech companies in these sectors that are on their path to listing in Hong Kong.

[Florian M. Spiegl @fmspiegl]

1/ Hong Kong is now the world's largest cross-border wealth hub. Sooner than most expected. $2.9 trillion of international wealth booked in 2025, a 10.7% jump in a single year. BCG expects the gap to Switzerland to widen by another $600B by the end of the decade. (Chart sources: @BCG wealth report)

[Florian M. Spiegl @fmspiegl]

3/ But that is only half the story. The other half: excellent investment opportunities powered by relentless innovation. Robotics and physical AI, GPUs, biotech, renewable and nuclear energy, batteries — and more.

[Florian M. Spiegl @fmspiegl]

Private markets are no longer a sitting business.
The industry is shifting from a stock model - capital sitting for a decade - to a flow model, where it moves continuously. Private wealth investors and the need for liquidity and secondary markets are powerful drivers.

Two revolutions enable it: blockchain as a new system of record, AI as a new system of orchestration.

Our 2025 letter is out where I lay out the details of how private markets are rewired.

https://t.co/qatM7Lmt9q

[Florian M. Spiegl @fmspiegl]

Consensus in the room at the PE Leadership forum: for private markets, DPI is the new IRR. Cash-on-cash returns are what everyone pays attention to.

[Florian M. Spiegl @fmspiegl]

Some of the most interesting allocations sit outside the barbell: AI on one end. HALO on the other. Culture in between.

World's first tokenized Pokémon card fund — by @MemeStrategy — closed oversubscribed on @EvidentCapital .

Truly alternative!

[Florian M. Spiegl @fmspiegl]

Top 20 pre-IPO companies are now worth $3T+ combined. Secondary trading hit $1B on a single platform. This isn't a niche anymore. It's a capital market running on broken infrastructure. Time to upgrade.

[Florian M. Spiegl @fmspiegl]

We'll discuss blockchain as a new system of record in private markets - and what that means for private wealth investor access and market efficiency.

[Cosmoverse @CosmoverseHQ]

We are pleased to welcome Florian M. Spiegl, Founder and CEO of EVIDENT, to #Cosmoverse26

Florian leads EVIDENT, the first fully integrated SFC-licensed investment platform for alternative assets in Hong Kong, and one of Asia's most active digital market infrastructures for private markets. EVIDENT operates the full asset lifecycle on blockchain: from primary issuance and structuring through to secondary market transactions, serving asset managers, wealth managers, and institutional investors across the region.

His earlier career spans strategy consulting at Boston Consulting Group in Vienna and New York, and senior roles in wealth and asset management at Credit Suisse across Switzerland, London, and Singapore.

Beyond his work at EVIDENT, Florian co-founded the Hong Kong FinTech Association, taught the FinTech MBA course at the University of Hong Kong, and served on the FinTech Advisory Board of Hong Kong's Securities and Futures Commission.

His presence at Cosmoverse brings a practitioner's perspective on what licensed, production-grade digital market infrastructure for private assets looks like in practice, and what it takes to build it in a regulated environment.

[Florian M. Spiegl @fmspiegl]

Strip away the hype, and blockchain is fundamentally a superior global database. One with an immutable audit trail and a single standard for all participants. Global finance runs on data architecture. When you upgrade the database, you remake the entire system. It’s that simple.

[Florian M. Spiegl @fmspiegl]

Interesting times to see how capital flows are shifting. "Capital goes where it is welcome and stays where it is well treated." --Walter Wriston

[Florian M. Spiegl @fmspiegl]

Your best friends are your fiercest critics.
“One always learns more from ‘friendly critics’ than from uncritical friends,” Kissinger wrote to Brzezinski

[Florian M. Spiegl @fmspiegl]

Ironic, but to truly leverage AI at work, you first need to master the skills it aims to replace. This applies to everything from critical thinking & problem-solving to argumentation & communication. Tricky for AI natives joining companies. Where do you learn the fundamentals?

[Florian M. Spiegl @fmspiegl]

Excited for us at @EVIDENT_Capital to partner with @IDAfi24 & @MicroConnectHK to tokenize revenue-based lending instruments. Leveraging blockchain & stablecoins, we're optimizing asset lifecycles to open up this asset class for private wealth. Interoperable TradFi in reality.

[Florian M. Spiegl @fmspiegl]

Europe’s internal barriers are equivalent to a tariff of 45% for manufacturing & 110% for services (IMF). These shrink the market in which European companies operate: trade across EU countries is less than half the level of trade across US states. Clean your own backyard first..

[Florian M. Spiegl @fmspiegl]

What #blockchain can do: launched our art vertical with 13 works from Picasso to Banksy. Pick individual pieces, participate directly in upside, co-invest with leading art invest firm—all with capital guarantee. Unthinkable pre- #tokenization https://t.co/iJlMH6sBAi

[Florian M. Spiegl @fmspiegl]

Harari: Kafka’s The Trial is a better guide to the AI dystopia than The Terminator.