Pasaca Capital Named Business of the Year While Founder Dr Charles Huang Recognized as Philanthropreneur of the Year by California Legislature Assembly

News provided by

Nov 03, 2021, 07:00 ET

PASADENA, Calif., Nov. 3, 2021 /PRNewswire/ -- Monday, Pasaca Capital Inc., ("Pasaca") was recognized as 2021 Business of the Year and its founder and chairman Charles Huang, PhD, was awarded 2021 Philanthropreneur of the Year from California State Assembly by Assembly member Phillip Chen, who represent the 55^th district. Pasaca and Dr Huang are the first ever to earn this recognition for the 55^th district.

Pasaca Capital Named Business of the Year While founder Dr Charles Huang Recognized as Philanthropreneur of the Year by California Legislature Assembly. Pictured from left to right: Dan Elliott, President of Pasaca Capital Inc, Phillip Chen, California State Assembly Member and Dr. Charles Huang, Chairman and Founder, Pasaca Capital

The award for Pasaca was granted for its extensive contribution to the global fight against the COVID-19 pandemic through its subsidiary companies Innova Medical Group, Inc., Biological Laboratory, Inc, and others, as well as the creation of thousands of jobs across the world. Pasaca's contribution to the California and US economy through substantial revenue generation, job creation and significant tax contributions are a result of its extraordinary success under the leadership of its founder and chairman Dr. Charles Huang.

Dr. Huang received the recognition for his exceptional leadership in growing the California based private equity firm into a global evergreen fund with unpreceded scale and speed, and his commitment to improving the human condition by making large donations through his foundation, including a recent donation of US$70 million to his alma mater Strathclyde University, Scotland, UK, the largest ever donation to any Scotland University and among the largest donation for any U.K. university.

"Dr. Huang is not only the Innovator of the Year, his company is also the first Business of the Year. Under his leadership, Pasaca's tremendous contribution to the global and local communities and economies compelled the 55^th district to request these historical recognitions from the State Assembly," said Phillip Chen. "As a state, we are proud of this home-grown Asian-American-led enterprise, which serves as a great example of the continued economic strength we enjoy in California. We are grateful to both Dr. Huang and Pasaca Capital for their contributions to our economy."

"I'm also very impressed by Dr. Huang's commitment to helping others which is clearly demonstrated through his immensely generous donations to universities and other innovative organizations," added Phillip.

Pasaca Capital President, Daniel Elliott stated, "the Pasaca team is honored to receive this award in recognition for our work and for the leadership of Dr. Huang. We continue to further Dr. Huang's vision to make impactful investments with a goal to improve the human condition globally and contribute to the local economies in which we invest."

Dr. Huang remarked, "I'm humbled by these awards, and I thank my team, whose collective efforts to execute on my strategy and vision make our success possible and bring more positive impact on a global scale."

About Pasaca Capital Inc.
Headquartered in Pasadena, CA, Pasaca Capital Inc. is an evergreen private equity investment firm focused on innovative technologies and products that benefit the world. With a focus on medical devices, pharmaceuticals, TMT, industrial & automation, and food ingredient sectors, Pasaca Capital seeks to improve the human condition globally. Pasaca portfolio companies operate in Europe, Middle East, SE Asia, and North America. Portfolio companies include Innova Medical Group Inc, Sweegen Inc, Meepo Inc., ATL Group Ltd, ASOCS, Caton Technology and others.

Sean Rogers joined Pasaca Capital as CEO early in 2021 from a leadership role in Citigroup with a focus to continue to attract top talent to the Pasaca global platform and continue to strengthen our increasingly positive impact on the global economy and improving the human condition around the world.

Further Improving the human condition: Dr. Robert Redfield, Chief Science Advisor to Pasaca Capital and Dr. Yichen Lv, a 40-year veteran in the global vaccine industry, joined Pasaca Capital to lead the company's venture into the vaccine field.

For more info about Pasaca, visit www.pasacacapital.com

About Charles Huang, PhD.
Charles Huang is a global visionary and entrepreneur. He was born and grew up in Wuhan, China. After completing his bachelor's degree in economics from Wuhan University in 1986 he obtained a British Council scholarship to study his MBA and PhD in Marketing at the University of Strathclyde in Glasgow, Scotland.

Following his studies in the U.K, Dr. Huang went to Hong Kong and pioneered China equity research in investment banking there with unrivaled stock picking skills and impeccable stock market calls. Dr. Huang spent over a decade in the automotive industry as a senior executive where he immigrated as a citizen of the United States. In 2016, Dr. Huang founded Pasaca Capital Inc. in Pasadena, CA. and later founded Innova Medical Group Inc. to bring innovative medical products to benefit the world. Dr. Huang has skillfully led Pasaca from a small private equity firm to a global, evergreen fund worth billions of dollars across its many portfolio companies around the world.

Dr. Huang proposed the "mass testing and repeat testing" strategy using inexpensive, easy to use and rapid result testing products to help countries contain the spread of the SARS-COV-2 virus while safely opening economies again. Many countries have adopted this approach in different manners and scales as an integral part of their overall strategies in their fight against the pandemic. Having delivered over 2 billion rapid tests worldwide, Pasaca portfolio company, Innova Medical Group, is a leader and the largest supplier of COVID-19 testing in the world with manufacturing facilities in USA, U.K., France, Singapore, and China.

Dr. Huang is also a philanthropist. His latest donation includes a $70 million (GBP50 million) donation for entrepreneurship education through his foundation to his alma mater Strathclyde University in September 2021.

For more info about Dr. Huang and his foundation, visit www.charleshuangfoundation.org

SOURCE Pasaca Capital, Inc.