Phixr's founding backer

Stem Financial

A high-conviction, hands-on investor in growth businesses — partnering with management teams to build something bigger.

About Stem Financial

Direct investment, built on partnership.

Founded in 2013 and headquartered in Hong Kong, Stem Financial is a direct investment business that manages a combination of partner and third-party capital, with a primary focus on financial and professional services.

We are a high-conviction, hands-on investor in growth businesses, working in partnership with management teams on strategy, implementation, financing, and governance. Our approach spans the full spectrum of business development stages, from established institutions with decades of history to early-stage venture investments. What unites these investments is our commitment to our operating partners: we only invest alongside management teams who are receptive to strategic partnership and who share our principles.

That partnership extends well beyond the initial investment. We take a hands-on approach to portfolio management, staying deeply involved operationally wherever it's needed to help a business grow. Underpinning all of this is a strong culture of transparency and collaboration — one driven by returns, not by the pursuit of assets under management.

About Our Partners

The people behind Stem.

Philip Lynch

Founding Partner

Philip Lynch

  • 25 years as an investment banker in Asia, Europe, the US and the Middle East (21 years at Lehman Brothers and 4 years at Nomura).
  • Lehman Brothers: Co-head of Asia Pacific Investment Banking 1999–2002; Head of European Financing (ECM, DCM, Lev Fin, Private Derivatives, Corporate Broking) 2003–2006; Co-head of European Equities 2007–2008.
  • Nomura: CEO Asia Pacific and Middle East 2010–2012.
  • Over US$200 billion of deal origination and execution.
  • Graduated from Yale University.
Sarah Wang

Partner

Sarah Wang

  • 16 years as an investment professional in the US and Asia.
  • At Stem Financial since January 2014.
  • Started her career at Goldman, Sachs & Co. in investment banking.
  • Health Evolution Partners ($500mm middle-market private equity firm).
  • Graduated from University of California, Berkeley, Haas School of Business.

Case Study

Building a Regional Platform from the Ground Up

Stem Financial was the lead investor in Acclime, backing the business from its earliest stages through to a successful exit. Over the course of the partnership, Acclime grew from a single-market operation into a leading corporate services platform spanning 18 markets and serving more than 10,000 clients.

As lead investor, Stem took an active role in shaping Acclime's trajectory — holding a board seat and chairing the investment committee, while providing hands-on support across capital raising, strategic oversight, and financial modelling to guide the company's expansion and acquisition strategy. The partnership culminated in Acclime's acquisition by Warburg Pincus, which closed on 30 June 2026 — marking one of Stem's flagship roll-up success stories and a proof point for its approach to building platforms from the ground up.

From the ground up

1market
at start
→
18markets
today
10,000+ clients served across the region
Exit Acquired by Warburg Pincus Closed 30 June 2026