| 17th China Private Equity Summit 2018 | | | | The 17th China Private Equity Summit, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA), took place on 5 June, 2018. Attracting close to 600 venture capital and private equity practitioners, leading corporations, and other industry professionals and participants from across the region, the Summit discussions focused on the latest developments and trends in the private equity market in China.
Held at the Hong Kong Convention and Exhibition Centre, distinguished guests at this one-day event included: James Henry Lau Jr, JP, Secretary for Financial Services and the Treasury of the Hong Kong SAR Government; Forest Lin, Managing Partner, Tencent Investment; Roger Luo, President, DJI; Chris Ip, Senior Partner, McKinsey & Company; Ivo Naumann, Partner, McKinsey & Company and member of its leadership team in its Private Equity Practice in Asia and leader of its Recovery & Transformation Services Practice in Greater China; and Johan Bygge, Chairman, Asia Pacific, EQT Partners Asia Limited.
The theme this year highlighted the strength of China’s PE/VC industry, with M&A activity and control deal volumes at record highs. Leading industry experts addressed such topics as the impact of China’s structural reforms, new policies on regulating overseas investment and what opportunities and challenges lie ahead for cross-border deals. There was also discussion about China’s domestic capital market and other sectors, including technology and innovation.
We would like to thank our extremely knowledgeable audience of attendees who came from across the Asia region, making this year’s Summit a most profitable and valuable networking opportunity for participants. Thank you also to our media partners and supporting organizations. Finally, the HKVCA would like to express our sincere thanks to our sponsors, whose substantial contributions and support made the event not only possible, but indeed an unprecedented success.
| | FSTB Consultation on Ring-fencing | |  | | | |  | The HKVCA is co-hosting its fifth annual Hong Kong Venture Capital Forum (HKVCF) with RISE with the name "Venture" on 9 July, 2018 (Mon) at the HKEX Connect Hall.
Powered by RISE and the HKVCA, Venture brings the most influential investors from top international funds together with leading family offices, fund of funds and sovereign wealths for a special one-day event. Held right before RISE, this invitation only gathering features a day of focused talks, curated roundtable discussions and a chance to engage with the people driving change in investment. | | Date: | 9 July 2018 (Monday) | | Time: | 12:00 - 13:00 Registration and lunch
13:00 - 17:30 Content and roundtables
19:30 Venture dinner
21:00 Venture drinks | | Venue: | Forum: HKEX Connect Hall, 1/F, One and Two Exchange Square, Central, Hong Kong
Dinner: Ophelia, Shop F39A & F41A, 1/F, Lee Tung Avenue, 200 Queen's Road East, Wan Chai
Drinks: The Pawn, 62 Johnston Road, Wan Chai, Hong Kong | | Fee*: | HKVCA Contacts: US$702 US$1,080 (35% off) | | (please quote discount code: HKVCA) | | *the fee includes access to both Venture and RISE | | Download the brochure
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|  | | Extracting value through an Initial Public Offering (IPO) | | Sponsored by |  | | | Speakers: | David Chan, Managing Partner - Tax Hong Kong and Macau, EY
Keith Pogson, Senior Partner - Global Assurance Leader Banking & Capital Markets, EY
Eugène Goyne, Executive Director - Regulatory Services, EY
Sarah Chan, Senior Manager – China Tax and Business Advisory Services, EY | |  | | Date: | 21 June 2018 (Thursday) | | Time: | 12:00 - 14:00 | | Venue: | Ernst & Young Office, 22/F, Citic Tower, 1 Tim Mei Ave, Admiralty | | Fee*: | Full Member (Corporate): one free pass per company | | Associate Member/ Full Member (additional pass): HK$200 per person | | Non-Member: HK$400 per person | | *Fee inclusive of a light lunch | | CPT: | 1.5 points | |  |
|  |  | | Technological improvements in Private Equity | | Sponsored by |  | | | Speakers: | Andrew Kehl, CAIA , Global Head of Sales, Preqin Solutions
Henry Wadsworth, Head of Business Development, Asia Pacific, Preqin Solutions | | | | Date: | 28 June 2018 (Thursday) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK | | Fee: | Corporate Full Member | Non Member | | one free pass per company | HK$800 per person | | Full Member (additional pass): HK$450 per person | | | CPT: | 1 point | | |
| | Members Only Event |  | | Sponsored by | | | | Date: | 6 July 2018 (Friday) | | Time: | 8:00 - 9:00 | | Venue: | Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong
(Room reserved under the name of Johnny Chan) | | Fee*: | Full Member (Corporate): one free pass per company | | Associate Member/ Full Member (additional pass): HK$300 | | *Note, free pass no shows will be charged full price | | *An additional charge may apply to accommodate special dietary requests. | | | |
| | | What The Hack Is the Difference? | | Sponsored by |  | | Speaker: | Naureen Z. Rasul, Senior Vice President, Regional Financial Institutions Industry Leader, Asia Specialty Practice, Marsh (Hong Kong) Limited | | | | Date: | 7 August 2018 (Tuesday) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK | | Fee: | Corporate Full Member | Non Member | | one free pass per company | HK$800 per person | | Full Member (additional pass): HK$450 per person | | | CPT: | 1 point | | | |
|  | | Date | Time | Session | Venue | CPT | | 3 Sep | 09:30-13:00 | Module 1: PE Basics | HKU MBA Centre | 3 | | 3 Sep | 14:00-17:30 | Early Stage Investment | HKU MBA Centre | 3 | | 10 Sep | 10:00-12:30 | Module 2: The Investment Decision | HKU MBA Centre | 2 | | 11 Sep | 14:00-17:20 | Module 3: Valuation/ESG/“High Level” Tax Issues | HKU MBA Centre | 3 | | 17 Sep | 14:00-17:05 | Module 4: Transaction Documentation | HKU MBA Centre | 2.5 | | 9 Oct | 14:00-17:15 | Module 5: Post Investment | HKUST Business School | 3 | | 10 Oct | 11:00-14:30 | Module 6: Tax/ Fundraising | KPMG Office | 3 | | 23 Oct | 14:00-17:15 | Case Studies: CVC / HKBN and Pacific Coffee | HKUST Business School | 3 | | | | | | | | | View Full Program here | | REGISTER NOW
Register in a group of 2 or more from the same company and enjoy a 10% discount. | | HKVCA Member | Non-Member | | Per Module | HK$1,300 | HK$2,600 | | Case Studies | HK$1,300 | HK$2,600 | | All 8 Sessions | HK$8,300 | HK$16,600 | | |
CPD will be accredited, subject to final approval from the Law Society of Hong Kong. Certificate will be granted upon completion of each session. | |
| Supporting Events:
HKIRA 4th Investor Relations Awards 2018
January - June, 2018
| Belt and Road Summit 2018
28 June, 2018
| The 4th Innonation's China-Israel Investment Summit
2-4 July, 2018
| SuperReturn Asia
17-20 September, 2018
| Outperform Asia 2018
18 September, 2018
| GCV Asia Congress
20 September, 2018
| South-East Asian Private Equity Conference
4 October, 2018
| The 31st Annual AVCJ Private Equity & Venture Forum
13-15 November, 2018
| EY Entrepreneur Of The Year 2018 China
May - November, 2018
| SuperReturn Japan
5 - 6 December, 2018 | | | | New Members | | Corporate Full Members | | | EmergeVest Limited
EmergeVest is an entrepreneurial private investment firm, seeking to grow leading businesses in targeted industry sectors on a global basis. EmergeVest currently invests in diversified business services, including logistics, supply chain and technology. | | | Guosen Securities (HK) Financial Holdings Company Limited
Guosen Securities (HK) Asset Management Company Limited (GSAM), the investment arm of Guosen Securities (HK) Financial Holdings Company Limited, is licensed to issue and manage public and private funds, including stock funds, bond funds, hedge funds, private equity funds and so on, reaching approximately AUM of 1.5 billion USD. GSAM is setting-up a UCIs Part II Fund in Luxembourg, the Guosen Global Investment Fund, which is a legal entity incorporated as an umbrella fund comprised of separate sub-funds. The first sub-fund shall primarily invest in non-listed equity issued by companies established in Europe and North America having actual or potential exposure to China, mainly new technology, new media and new material industries. | | | Honeywell Ventures
Honeywell Ventures is a corporate venture capital firm focused on making Series A/B investments, alongside co--investors, in companies developing technologies, products, and solutions aligned with Honeywell's core end markets. | | | NIO Capital
NIO Capital is a fund manager investing in themes reshaping the automotive, new energy and technology sectors. Established in 2016 and sponsored by NIO, NIO Capital leverages its unique access to global and Chinese innovation, comprehensive market understanding and flourishing ecosystem to create category-leading companies in fields such as electric vehicles, autonomous driving, shared mobility, new energy network, new materials and more. | | | Qiming Venture Partners
Qiming strives to be the investor of choice for top entrepreneurs in China. Since our debut, we have backed over 210 young, fast-growing and innovative companies across China in the internet and consumer ("Intersumer"), healthcare, information technology and clean technology sectors. Over 30 of them are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange, and Shenzhen Stock Exchange or achieved exit through M&A. Many of our portfolio companies are today’s most influential brands in their respective sectors, including Xiaomi, Dianping, iTutorGroup, Mogujie, Meitu (HK 01357), Bilibili, Tigermed (SZ 300347), Gan & Lee, Zai Lab, Hexing (SH 603556), CSD (SH 603903), Tellgen (SZ 300642), AmoyDx (SZ 300685), HyperStrong, We Doctor Group, Face++ & UBTech.
| Righteous Capital Limited
| | | | Corporate Associate Member | | | DBS Bank (Hong Kong) Ltd
DBS Bank is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank. The bank was set up by the government of Singapore in July 1968 to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering more than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$482 billion as at December 31, 2016. It has market dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fundraising in Singapore. | | |
| | Recent Events Report | | | HKVCA Private Equity Advanced Course 2018 - Module 2: 100-day Plan
29 May 2018 |  | | The HKVCA’s Education Committee believes in the importance of portfolio management and a 100-day plan is key for achieving operational alpha. Accordingly, the HKVCA held its first 100-day plan module as part of its advanced series of courses for senior and mid-level private equity and venture capital professionals. The half-day educational course was held on May 29th at KPMG’s offices. Joseph Wan, a senior advisor from Cinven, and Ben Jelloun, a director from KPMG’s deal strategy and advisory team, addressed the nine levers that form a 100-day plan, as well as the keys to balancing expectations. Wan emphasized the importance of designing the scope of the plan, and Jelloun identified several issues that need to be addressed during the course of the first 100 days. He also provided a number of tools that may help participants as they put their plans into effect. More than 30 members of the HKVCA participated in the module, making it a valued segment of the Association’s new advanced level educational program. | | | HKVCA Brownbag Luncheon Talk – Gender Equality in PE: Has There Been Progress?
17 May 2018 |  | | Another of our popular brownbag luncheon talks was held on May 17, 2018. The talk was on the issue of gender equality in the private equity industry and was held at the offices of KPMG, who also generously sponsored the event. More than 50 participants were in attendance. We would like to extend our thanks to KPMG, as well as to our expert speakers: Judith Li from Lilly Asia Ventures; Denise Mak from CVC Asia Pacific; Bonnie Lo from NewQuest Capital Partners; and Iris Zhao from GCM Grosvenor. | | | HKVCA Private Equity Advanced Course 2018 - Module 1: Negotiation
14 May 2018 |  | | The HKVCA’s Education Committee held its first ever negotiation module as part of its advanced series of courses for senior and midlevel private equity and venture capital professionals. The one-day intensive course was held on May 14th at the Aberdeen Marina Club and Jamie Barr, an instructor from Summit Professional Development, addressed the effective ways to plan and run the many different types of negotiations. He emphasized in particular the “TKI model” in which the parties understand how to define the negotiation styles as well as behavioral skills for negotiating themselves. Barr also discussed the importance of stakes and relationships through leveraging a game theory matrix to achieve the best outcome. Finally, he provided the participants the opportunity to engage in group discussions and role playing using specific case studies. Sixteen HKVCA members participated and it proved to be an excellent start to the Association’s new advanced level educational program. | | | HKVCA Members Breakfast Meeting
11 May 2018 |  | | The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 11 May, 2018. The event attracted over 60 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the support of I-OnAsia to whom we would like to extend our sincere thanks for their sponsorship and help in making this terrific networking event possible. | | | HKVCA Brownbag Luncheon Talk:
PRC Regulations for LP Commitments to Offshore Funds
4 May 2018 |  | The HKVCA’s PRC Committee hosted its latest luncheon on May 4, 2018 at the Morrison & Foerster’s Boardroom. Serena Tan, a funds partner in the firm’s Hong Kong office, discussed the recently released Circular 11, which deals with the “Administrative Measures for Outbound Investments by Chinese Enterprises”. The Circular, published by China’s National Development and Reform Commission (NDRC), addresses issues related to Chinese enterprise investors’ direct investments as well as offshore private equity fund commitments. A number of GPs who attended the luncheon noted their concern over several recent cases and Tan reminded the audience that certain specified investments require reporting and filing with the NDRC. She also discussed fundraising and negotiations under the new rule.
Close to 40 GPs and LPs attended the event and both the HKVCA and PRC Committee would like to thank the participants, and especially sponsors Morrison & Foerster, whose support made the luncheon possible. | | | |
| | | Industry News | | TPG Gets Into Secondary Market With Stake in Asia-Focused NewQuest | | — June 5, 2018 | (Bloomberg by Melissa Mittelman) - TPG is getting in on the booming market for secondhand private equity interests.
The alternative asset manager is taking a minority stake in NewQuest Capital Partners, a secondaries private equity firm focused on the Asia-Pacific region. TPG is investing in Hong Kong-based NewQuest with its balance... | | (link to the full article) | | | | Fund focus: Advantage set for Asia ex-Japan push | | — May 24, 2018 | (AVCJ by Tim Burroughs) - Advantage Partners aims to build on the firm's experience connecting Asian “extrepreneurs” with opportunities in Japan in its first Asia-focused fund.
Japanese GP Advantage Partners drafted in two domestic ... | | (link to the full article) | | | | GRAIL Announces $300 Million Raised in Oversubscribed Series C Financing | | — May 21, 2018 | | (Press Release) - GRAIL, Inc., a healthcare company whose mission is to detect cancer early, when it can be cured, today announced it has raised USD$300 million in an oversubscribed Series C financing. The financing is led by Ally Bridge Group, co-led by Hillhouse Capital Group and 6 Dimensions Capital, and includes Blue Pool Capital, China Merchant Securities International, CRF Investment … | | (link to the full article) | | | | KKR Hires CLSA Veteran John Pattar as Head of Asia Pacific Real Estate | | — May 17, 2018 | (Mingtiandi by Greg Isaacson) - KKR has appointed John Pattar as Member and Head of the company’s real estate business in Asia Pacific, according to an announcement today by the pioneering US private equity firm. Pattar joins KKR in Hong Kong from CLSA Real Estate, where he had served as CEO.
The property ... | | (link to the full article) | | | | HK InnoStars: From Struggling to Success | | — April 30, 2018 | | (HKVCA by Staff Writer) - Private equity and venture capital investors are always seeking deals and rarely forgo an opportunity to invest in a company with potential. This past March, the Our Hong Kong Foundation announced the winners of its inaugural InnoStars Awards. The six winners were Alex Kong from TNG (Asia); Joe Lee from Kuaidi Group; Li Zexiang from Da-Jiang Innovations ... | | (link to the full article) | |
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