If you cannot read this message, please click here.
   
     Membership Renewal 2022      
Dear Colleagues,
   
Warm greetings from the Hong Kong Venture Capital and Private Equity Association (HKVCA). I am writing to cordially invite you to renew your firm’s membership in the Association for the coming year, 2022. While there is no doubt the world continues to feel the impact of the COVID-19 pandemic, in 2021 the HKVCA, against the odds, managed to thrive. Our membership base is larger, broader and deeper, the number of registrations has doubled, and our events remain of the highest quality.
Today we represent over 480 local and international firms, including the top 10 private equity firms in the world, and we have the largest membership among our fellow industry associations in Asia.
   
As part of our efforts to provide services to members, our organization is employing a variety of approaches. In response to the changing policies around social distancing, we have rapidly shifted our energies and resources towards organizing events virtually, and now increasingly, in hybrid form. In the midst of challenging times, we held all three of our flagship conferences and close to 40 webinars over the past twelve months covering a wide variety of topics, including important regulatory updates.
    
We have continued lobbying the government on behalf of our industry’s interests. The result has been a number of recent polices geared toward maintaining Hong Kong’s position as a private equity hub. In addition to the unified fund tax exemption and the recent limited partnership fund regime, the HKVCA has provided recommendations on the concession tax rate for carried interest and a re-domicile mechanism.
   
I look forward to us working together to ensure the HKVCA remains the most influential regional body for our industry, and it is in this spirit that I acknowledge how much we value your continued involvement. We sincerely appreciate your continued participation and involvement in the HKVCA and are pleased to be able to offer our members a special incentive for early renewal of their membership. Renewal letters, with accompanying invoices, have already been sent to all members and, accordingly, we invite you to promptly renew your membership, thereby ensuring the essential support that is needed for the work of our Association.  


We are also pleased to confirm that the fee for membership in 2022 will remain at the same rate it has been for the past nine years. We very much look forward to seeing you in person again very soon and thank you for your renewed commitment.
       

Yours sincerely,
   
Rebecca Xu
Chairwoman, Hong Kong Venture Capital and Private Equity Association
Co-Founder & Managing Director, Asia Alternatives

      HKVCA Private Equity Fundamentals Training Series 2021      
The HKVCA’s Private Equity Fundamentals Training Series was held virtually this year, with the first module being held in August and the final module in November. Unlike last year’s series, however, we went back to the full program of topics and offered the complete eight modules traditionally associated with the course. We also provided the attendees with the option of attending the first module either in person or online. 
  
The first two sessions, held on August 26th and 31st, dealt with private equity basics and early-stage investment. Modules covering investment decisions; valuation issues; ESG; post-investment matters; transaction documentation; and tax and fundraising were completed on September 9th and 16th and October 7th, 12th and 21st respectively. The final module, a session dedicated to examining case studies, was held on November 2nd. 
 
We were extremely pleased this year to have had more than 200 delegates attend the training series. The HKVCA extends its sincere thanks to the following amazing group of industry experts who were this year’s course instructors: 
  • Queenie Ho, Partner, Affinity Equity Partners
  • Matthew Puhar, Partner, Akin Gump Strauss Hauer & Feld
  • Wendy Zhu, Managing Director, AlpInvest Partners
  • Alvin Lam, Principal, CVC Capital Partners
  • Andrew Crook, Head of Corporate APAC, Clifford Chance
  • Bryan Koo, Partner of Corporate M&A & Private Equity Practice, Clifford Chance
  • Patrick Yip, Vice Chair, Deloitte China
  • Roy Phan, Partner, International Tax Services, Deloitte China
  • William Lee, Director, International Tax, Deloitte China
  • Yvonne Yip, Senior Manager International and M&A Tax Services, Deloitte China
  • Yvonne Dunn, Executive Director, Ernst & Young
  • Brian Lee, General Counsel, FountainVest
  • Michael Chan, Head of International Issuer Services, HKEX
  • Roger King, Adjunct Professor of Finance, HKUST
  • Winnie Peng, Director of Tanoto Center for Asian Family Business and Entrepreneurship Studies, HKUST
  • KO Chia, President, HKVCA
  • NiQ Lai, Co-Founder & CEO, Hong Kong Broadband Network Limited
  • Ivan Chan, Director, Deal Advisory, M&A Tax, KPMG
  • Kasheen Grewal, Director, Deal Advisory & M&A Tax, KPMG
  • Marcia Ellis, Global Chair, Private Equity Group, Morrison & Foerster
  • Ivan Chan, Executive Director, Morgan Stanley
  • Jonathan Lee, Managing Director, MVision
  • Min Lin, Founding Partner, NewQuest Capital Partners
  • Oscar Chow, Managing Director, Polaris Holdings
  • Gordon Yen, Founding Managing Partner, Radiant Tech Ventures
  • Lorna Chen, Asia Regional Managing Partner & Head of Greater China, Shearman & Sterling

      Advocacy and Consultation      

   HKVCA ESG Award of Excellence 2021   
In light of our busy conference calendar through early November and the holding of our AGM, the HKVCA has decided to extend the deadline for submissions for the ESG Award of Excellence 2021 to November 26th.
The HKVCA is launching its 3rd ESG Award of Excellence to recognize significant environmental, social and governance (ESG) related initiatives and achievements in Asian private equity and venture capital-backed companies. 
  
The HKVCA ESG Award is given only once every two years. The last award was in 2019 and attracted a diverse set of entries. We now invite Asian PE and VC firms to submit their applications for this year’s ESG Award of Excellence.

ESG encompasses a wide range of areas, including but not limited to energy efficiency, pollution reduction, green initiatives, employee safety, supply chain quality control, customer welfare, cybersecurity, community relations, governance structure, and board effectiveness. ESG initiatives are often taken to address an existing problem or weakness. At other times, such initiatives are designed to create brand differentiation, or go hand-in-hand with productivity or efficiency improvement projects. ESG work is part and parcel of the risk management and value creation activities inherent in the private equity and venture capital hands-on investment model.
        
  Who is eligible?  
If you –
  • are an Asian PE or VC firm, or the Asian arm of a US or European firm, and
  • have an Asia-based investee company currently in your portfolio or exited during 2020 and/2021, where the ESG work that you have initiated makes a compelling case study,
then you are eligible to submit an entry.
 
  How to Enter?  
Please submit a one-page document on one portfolio company where critical ESG upgrades has taken place as a result of your initiative. Please provide:
  • Background information on the company, including nature of the business, size, geographical scale and location, and in which year you invested in the company. 
  • As many details as possible on the specific ESG initiatives and changes that you have introduced and implemented in the company.
  • If there has been sufficient time for these initiatives and changes to bear fruit, their impact on the company and on its stakeholders. 
  • Focus only on the 2-4 changes that have been most instrumental in addressing existing weaknesses and/or in creating value for the business.
  • Any supporting evidence that contributes to the narrative and quantifiable results or milestones achieved (whether financial, operational or social) will be valuable.
  Deadline  
All entries should be emailed to Kamy Chan at kamy@hkvca.com.hkThe deadline for your entry is 5:00p.m. on Friday, November 5, 2021 November 26, 2021.
    
A panel of judges consisting of LP members from the HKVCA’s ESG Committee will select two to three winners from all entries. The winners will be announced in December 2021 and the decision of the panel of judges will be final. The Award takes place once every two years, which provides sufficient time for new ESG initiatives to develop within Asian PE/VC portfolio companies. After this year’s winners are named, the next awardees will be in the second half of 2023.
     
The HKVCA may use some or all of the entries on its website, publications (online and offline) and/or in its training materials. Please do not include any confidential information in your entry documents. By submitting an entry, you give your consent to the HKVCA to use your entry documents on its website, publications and/or training materials, and acknowledge that there is no confidential information in your entry documents.
      
For past entries in 2017 and 2019, please refer to the two links below: 2017 and 2019.

As ESG encompasses a very wide range of areas, we offer for reference immediately below some ESG subject areas that might be of relevance for applicants.

   Upcoming Events   
Limited registrations available
Impact of recent legal and regulatory changes in China
on the PE and VC industry
Sponsored by
China’s Personal Information Protection Law (PIPL) came into effect on November 1. Network Data Security Regulation (draft) and Data Cross-border Security Assessment (draft) were recently released for public comment.  These new Chinese laws and regulations will have significant impact on the private equity and venture capital industry. Join this panel for an overview of the legal framework, and case studies to illustrate why PE/VC investments and exit strategies may need to change.  Panelists will also discuss other recent legal and regulatory issues of importance to the industry, including China’s Cybersecurity Law and the future of the VIE structures.
   
The expert panel will be moderated by Lorna Chen, Asia Regional Managing Partner and Head of Greater China at international law firm Shearman & Sterling. Also on the panel will be Brian Burke, a litigation partner at Shearman & Sterling based in New York and Shanghai; and Kate Yin, partner at China-based law firm Fangda Partners.   
Speakers:
Lorna Chen
Asia Regional Managing Partner
& Head of Greater China,
Shearman & Sterling
Brian Burke
Partner,
Shearman & Sterling
Kate Yin
Partner,
Fangda Partners
Date: November 23, 2021 (Thursday)
Time: 10:00 - 11:30 (Hong Kong Time) 
Format: Zoom Webinar* - link will be provided upon successful registration#
Fee: Members
1 free pass per company        
additional passes: HK$200 per person
Non-Members
HK$300 per person
CPT: 1 point
*Be advised that a webinar recording of this event will not be available upon its conclusion. 
*Registrants are reminded that slides produced by event speakers may not be available to attendees. Where slides are made available, only those who actually attend will have access to the slides and only upon completion of the event. 
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. 
Registration deadline: November 22, 2021
      

Full
Date: November 30, 2021 (Tuesday)
Time: Registration: 11:30 am
Lunch served: 12:00 noon
Shotgun start: 1:00 pm
Cocktail & Prize presentation: 5:45 pm
Venue: Shek O Golf & Country Club
Address: 15 Shek O Rd, Shek O, HK
Format: Scramble
Fee*: Members: HK$2,900
Non-Members: HK$3,
800
   
*Fee inclusive of lunch.
*Note that the Club will NOT provide golf carts and participants have to carry their own equipment. There are only a limited number of caddies available. If you would like to hire a caddie please let us know. The cost is HK$400 and availability is on a first come first served basis. 
With effect from October 1, 2021, no member and/or guest will be admitted to the Shek O Country Club’s premises unless they have been fully vaccinated against Covid-19 or have an appropriate medical exemption certificate.
  
A person is “fully vaccinated” where they have received the full two-dose course of either the Sinovac or Pfizer-BioNTech vaccine administered in Hong Kong at least fourteen days prior to the relevant date, or, have received the final dose of a WHO-approved vaccine administered outside Hong Kong at least fourteen days prior to the relevant date. Having an “appropriate exemption certificate” means having a certificate or letter signed by a registered medical practitioner in Hong Kong stating, in substance, that the individual has a valid underlying medical reason which means they cannot be vaccinated.    
  
Under the Club’s current Covid-19 policies, you are NOT allowed to enter the Club if any of the following applies to you:
  1. You have been in close contact with someone in the past 14 days who has tested positive for Covid-19.
  2. You have been subject to the government’s compulsory Covid-19 testing notice/order because you have been in close contact with someone who has tested positive for Covid-19, unless you have been tested and received a negative result.
  3. You have been in close contact with a person who has been outside of Hong Kong in the past 14 days, regardless of whether that person is exempted from the government’s compulsory quarantine.
  4. You have been outside of Hong Kong in the past 14 days regardless of whether you are exempted from the government’s compulsory quarantine.
  5. You are feeling unwell or have flu-like symptoms.
   
Points (3) and (4) above do not apply if you have been fully vaccinated as defined in paragraph two above.
  
Given these requirements, the HKVCA would like to ensure that all participants understand the updated regulations.
  
Only those persons able to fulfil the above requirements should register for the event.

Limited seats available
Members Only Event
Sponsored by
Date: December 2, 2021 (Thursday)
Time: 08:30 - 09:30
Venue: Harcourt Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong
Fee*: Members
HK$350 per person

*Note, free pass no shows will be charged full price
*An additional charge may apply to accommodate special dietary requests.
The Hong Kong Club has instituted a strict COVID-19 vaccination requirement for entry to its premises. With effect from September 1, 2021, only persons who are fully vaccinated (defined as having completed the full COVID-19 vaccination course no less than 14 days prior to the relevant date) and who are able to show a valid vaccination record will be permitted entry. Persons unable to provide proof of vaccination and/or those medically exempt from receiving the COVID-19 vaccination will be denied entry to the Club.
  
In addition, upon entering the function room, guests are required to scan the “LeaveHomeSafe” 1/F QR code using the “LeaveHomeSafe” mobile app. Note that this is a mandatory requirement of the government for all zones operating under Group D operation regulations. 
  
Only those persons able to fulfil the above requirements should register for the event.
    

Limited registrations available
Impact Investing
Sponsored by
Impact investing has been the fastest growing segment of private equity investment in the last 12 months. Impact investments are made with the intention to generate positive, measurable social and environmental impact alongside a financial return. This webinar panel will feature experts at the cutting edge of impact investing discussing why this type of investment is so attractive, how impact is defined and measured, and what the next stage of development is likely to be. 
Speakers:
Andrew Weir
Regional Senior Partner,
Hong Kong; Vice Chairman,
China; Global Chair, Asset Management and Real Estate,
KPMG
Jeffrey Gruccio 
Principal,
Primary Funds,
AlpInvest Partners (New York)
Yan Yang
Managing Director,
BlackRock Private Equity Partners
Semiray Kasoolu
Manager,
Impact Solutions, 
TPG - Y Analytics
Date: December 7, 2021 (Tuesday)
Time: 10:00 - 11:00 (HKT) 
Format: Zoom Webinar* - link will be provided upon successful registration#
Fee: Members
1 free pass per company        
additional passes: HK$200 per person

Non-Members
HK$300 per person
CPT:  1 point
*Be advised that a webinar recording of this event will not be available upon its conclusion. 
*Registrants are reminded that slides produced by event speakers may not be available to attendees. Where slides are made available, only those who actually attend will have access to the slides and only upon completion of the event. 

#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. 
Registration deadline: December 6, 2021
      

Limited seats available
Sponsored by
Date: December 9, 2021 (Thursday)
Time: 18:30 - 20:30 (registration starts at 18:15)
Venue: The Library, The China Club, 13-15/F, Old Bank of China Building,
Bank Street, Central, Hong Kong
Fee*: Members: HK$350 per person
Non-Members: HK$700 per person

*Priority is given to HKVCA members
*Canapés and unlimited drinks, including house wines, spirits, beer, fresh orange juice, soft drinks and water (mineral or sparkling), will be provided.
Dress code: Business Attire
Only persons who are fully vaccinated (defined as having completed the full COVID-19 vaccination course no less than 14 days prior to the relevant date) and who are able to show a valid vaccination record will be permitted to enter the Club. Persons unable to provide proof of vaccination and/or those medically exempt from receiving the COVID-19 vaccination will be denied entry to the Club.
  
In addition, guests are required to scan the “LeaveHomeSafe” QR code using the “LeaveHomeSafe” mobile app. Note that this is a mandatory requirement of the government for all zones operating under Group D operation regulations. 
  
Only those persons able to fulfil the above requirements should register for the event.
    

Limited registrations available
Full Members and by invitation only
HKVCA Luncheon Talk & Webinar:
Complex Fund Restructurings + Secondary Transactions
Sponsored by
In recent years GP-led fund restructurings and similar transactions have made up an increasing share of the global fund secondaries market and expectations are high that this trend will equally apply in Asia Pacific as the number of funds suitable for such transactions increases. Join us at this HKVCA luncheon panel discussion to hear experts share their experience and insights, including:
  • The various types of fund restructuring/liquidity solutions in the marketplace.
  • The rationale for such restructuring transactions.
  • Trends in the secondaries market and where the market may be headed in the context of current market conditions.
  • Economic terms of continuation funds and similar rollover vehicles.
  • Key conflicts and other issues arising in these transactions/structures.
Speakers:
Gregory Barclay
Partner
Goodwin
Martin Yung
Principal
HarbourVest
Nick Miles
Head of Europe and
Asia Private Equity
Lazard
Brooke Zhou
Partner
LGT Capital Partners
Bonnie Lo 
Partner & COO
NewQuest Capital Partners
Paul Robine
Founder and CEO
TR Capital
Date: December 14, 2021 (Tuesday)
Format: Hybrid (in person and via Zoom)
Time: Lunch served (in person): 12:00 noon
Talk / webinar: 12:30 - 13:30 HKT
Fee*: Corporate Full Members
In person pass
1 free pass per company
additional pass: HK$450 per person
Virtual pass#
1 free pass per company
additional pass: HK$200 per person
CPT: 0.5 point
Venue: The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK
(in person)
Dress code: Business Attire
* Registrants are reminded that slides produced by event speakers may not be available to attendees. Where slides are
made available, only those who actually attend will have access to the slides and only upon completion of the event.
* Be advised that a webinar recording of this event will not be available upon its conclusion.
# To avoid technical problems registrants should log in to Zoom webinars using the email address they provided
when registering for the event.
Only persons who are fully vaccinated (defined as having completed the full COVID-19 vaccination course no less than 14 days prior to the relevant date) and who are able to show a valid vaccination record will be permitted to enter the Club. Persons unable to provide proof of vaccination and/or those medically exempt from receiving the COVID-19 vaccination will be denied entry to the Club.
  
In addition, guests are required to scan the “LeaveHomeSafe” QR code using the “LeaveHomeSafe” mobile app. Note that this is a mandatory requirement of the government for all zones operating under Group D operation regulations. 
  
Only those persons able to fulfil the above requirements should
attend in person.

Date: January 12, 2022 (Wednesday)
Time: 9:00 - 17:15
Format: Online / Physical
Venue: Online Forum / Hong Kong Convention and Exhibition Centre
Fee:
HKVCA MEMBERS WITH MEMBERSHIP 2022 RENEWED
Corporate Full Members
In-person pass* Virtual pass
1 complimentary pass
Next pass at special rate: HK$3,000
Additional passes: HK$4,800 per person
HK$2,700 per person
Other HKVCA Members: Corporate Associate / Overseas (Full/Associate) Members
In-person pass* Virtual pass
First pass at special rate: HK$3,000
Additional passes: HK$4,800 per person
1 complimentary pass#
HK$2,700 per person
#Please note that a complimentary virtual pass cannot be exchanged, upgraded, transferred or in any other way converted to a physical pass.
NON-MEMBERS
In-person pass* Virtual pass
HK$8,300 per person HK$4,600 per person
CPT: 5.5 CPT points can be claimed after attending the full-day event.
Group discount: Register in a group of 3 or more from the same company and enjoy a 15% discount.
Free LP Passes
We have a limited number of free passes for pension funds, fund of funds, endowments, foundations, single family offices, DFIs and sovereign wealth funds (subject to verification and a maximum of one pass per company).
  
If you would like to apply, please email to apef@hkvca.com.hk / hkvca@hkvca.com.hk.
*Only persons who are fully vaccinated (defined as having completed the full COVID-19 vaccination course no less than 14 days prior to the relevant date) and who are able to show a valid vaccination record will be permitted to attend in-person. Persons unable to provide proof of vaccination and/or those medically exempt from receiving the COVID-19 vaccination will be denied entry.
  
In addition, guests are required to scan the “LeaveHomeSafe” QR code using the “LeaveHomeSafe” mobile app. Note that this is a mandatory requirement of the government for all zones operating under Group D operation regulations. 
  
Only those persons able to fulfil the above requirements should register for the in-person pass.
    
Registrations cancelled on or before 29 December 2021 will receive a refund, minus a HK$500 cancellation processing fee. Registrations cancelled after  29 December 2021 are non-refundable.
HKVCA Annual Report 2020/2021
Click here to read the report.
     

      
New Members
             
Corporate Full Members
           
Mindworks
            
Oakwise
Oakwise Capital Management Ltd. is an asset management company registered with the Securities and Futures Commission of Hong Kong (SFC). Holding Type 4 and Type 9 licenses issued by the SFC, Oakwise Capital Management provides a series of products and services which focus on investing in Greater China, including funds, separated managed accounts, family offices and other services. Investors include renowned state-owned enterprises, city investment enterprises, financial institutions, listed companies, family offices and high-net-worth individuals.
            
Overseas Full Members
           
Waypoint
With offices in Geneva, London, Jersey, Boston and Luxembourg, Waypoint has two principal areas of focus: Healthcare, building on the Bertarelli family's long involvement in biotechnology and life sciences; and asset management, where Waypoint uses its expertise to develop interests in areas such as hedge funds, private equity, venture capital, real estate and fund of fund investments. Waypoint’s professionals provide expert advice, support and execution capabilities to the companies and investments associated with it. These span legal support, financial accounting, internal audit, management reporting, tax support, operational due diligence, communications, human resources and technical infrastructure.
         
UB Ventures, Inc.
UB Ventures is a venture capital firm that specializes in subscription businesses. Leveraging our extensive experience in the creation of both B2B and B2C businesses, we provide support to B2B/SaaS and digital media startups to foster sustainable relationships with their users through subscriptions, helping them to grow alongside their users.
   
Corporate Associate Members
     
Sun Lawyers LLP
Sun Lawyers LLP is a Hong Kong-based medium-sized law established in 2003. The firm aims to provide an integrated and comprehensive range of legal services to international and local clients. The firm’s philosophy is to offer a down-to-earth approach in delivering quality services and developing long-term client relationships... (read more)
          
Jefferies Hong Kong Limited
Jefferies offers deep sector expertise across a full range of products and services in investment banking, equities, fixed income and wealth management in the Americas, Europe, the Middle East and Asia.
     

      
Event Reports
      
Global Venture Capital Congress 2021 
The HKVCA, represented by President Johnny Chan and Secretary General Joanne Yuen, joined a host of fellow industry professionals at a virtual meeting of the Global Venture Capital Congress (GVCC). The event, a valued opportunity for venture capitalists and private equity from around the world to meet and discuss shared issues and opportunities, was held over a series of three days - on October 6th, October 20th, and November 3rd.  
   
Attended by more than 40 delegates, guests and speakers representing as many as 20 professional associations from around the world, participants examined the most pressing topics and major emerging trends faced by industry associations at both a global and local level. Among the issues discussed by participants was government advocacy, the impact of COVID-19, the increasing importance of the ESG movement, and ways to best coordinate and collaborate across associations.  
      
HKVCA Members Breakfast Meeting
October 28, 2021
October 28, 2021 saw the HKVCA hold its first monthly breakfast meeting since the outbreak of the pandemic last year. Held at the Hong Kong Club, and hosted by the Association’s Executive Director and President, Johnny Chan, registration for the event was at full capacity with 60 members in attendance. The HKVCA also had the pleasure of welcoming 13 new members at this month’s meeting, who were on hand to introduce themselves to their colleagues. This very popular event continues to be a great opportunity for attendees to engage in networking, meet other Association members and industry peers. The HKVCA would like to extend its thanks to all who participated, and offer a very special thank you to our sponsor, James Donnan and his firm Intertrust Group, whose support helped make the event such a success. 
       
HKVCA Luncheon Talk: The urgency of cybersecurity - key defences and best practices
October 19, 2021
The HKVCA held its first in-person luncheon for members since the outbreak of the pandemic at the China Club on October 19, 2021. The talk was on cybersecurity defenses and best practices. Michael Steinkuhl, Director at Eze Castle Integration, discussed the latest issues involving cybersecurity risk and presented an actual case study that occurred in Australia. He also touched on cybersecurity frameworks in practice and emphasized the importance of employee training to deal with risks. Finally, he recommended the creation of a governance and risk assessment timeline for every financial institutional. 
    
With over 30 delegates attending the luncheon, the event received much positive feedback. We would like to thank sponsor Eze Castle Integration, and all the participants who made the talk a success. 
      
Webinar: How limited is your liability?
September 28, 2021
The HKVCA held a webinar on September 28, 2021, discussing the risks associated with leveraging a special purpose vehicle (SPV) to limit liabilities. The HKVCA invited partners James Ford, Matt Bower and Viola Jing from the Hong Kong office of international law firm Allen & Overy to examine the issues and share risk mitigation strategies around structuring; board practices; legal agreements; and communications.    
    
More than 80 people registered for the event. The HKVCA extends its sincere thanks to all of the participants, and in particular to our speakers and Allen & Overy for their generous sponsorship.  
         

     
Industry News
       
Towngas China announces strategic investment from Affinity Equity Partners to accelerate evolution into a leading integrated smart energy company
October 25, 2021
(Press Release) - Towngas China Company Limited (Towngas China; stock code: 1083) and Affinity Equity Partners jointly announced that Affinity Asia Pacific Fund V will invest HK$2.80 billion in Towngas China, representing 13.3% of the enlarged capital of Towngas China on a fully diluted and as converted basis. Towngas China will issue 116,783,333 new shares at the price of HK$5.00 per share and convertible bonds in the principal amount of HK$2.22 billion at a conversion price of HK$6.33 per share. The investment will support Towngas China’s evolution into an integrated clean energy provider, accelerate the roll-out of distributed solar photovoltaics as part of the smart energy solution and secure long-term growth...
(link to the full article)
     
XanPool secured US $27 million to consolidate its presence in APAC and expand service offerings
October 22, 2021
(Press Release) - XanPool, a payments infrastructure builder, that operates in over 13 countries in the Asia Pacific, has raised US$27 Million in a Series A financing round led by Valar Ventures, alongside investors such as CMT Digital, and notable angel investor Taavet Hinrikus (Founder and Chairman of Wise, formerly Transferwise)...
(link to the full article)
       
FTX Trading Ltd. closes $420 million Series B-1 funding round
October 21, 2021
(Press Release) - FTX Trading Ltd., owner and operator of FTX.COM, a leading global cryptocurrency exchange, announced the closing of a $420,690,000 Series B-1 fundraise, increasing the valuation of the company to $25 billion. The round saw the participation of 69 investors, including the Ontario Teachers' Pension Plan Board, via its Teachers' Innovation Platform, Temasek, Sequoia Capital, Sea Capital, IVP, ICONIQ Growth, Tiger Global, Ribbit Capital, Lightspeed Venture Partners and funds and accounts managed by BlackRock...
(link to the full article)
       
Animoca Brands raises $65 million at $2.2 billion valuation from Ubisoft, Sequoia China, Dragonfly Capital, others
October 20, 2021
(Press Release) - Animoca Brands, the company driving digital property rights via NFTs and gaming to build the open metaverse, announced that it has closed a capital raise for US$65 million conducted at a pre-money valuation of US$2.2 billion...
(link to the full article)
    
More news in Industry News
     

     
Supporting Events
    
JUMPSTARTER 2022
Sep 2021 - Feb 2022
   

AVCJ Asian Private Equity & Venture Forum
November 16 - 18, 2021

   
Asia Summit on Global Health
November 24, 2021
     

SuperReturn Japan Virtual
December 1, 2021

   
HKTDC Entrepreneur Day
December 1 - 3, 2021

    
SuperReturn Asia Reconnect
December 7 - 9, 2021

    
BIOHK 2021
December 2021
     
The Henley Family Office Program
    
Entrepreneur Of The Year China
      
PwC Asset and Wealth Management 8-part webinar series, A closer look into the China market
   

Contact us at +852-2167-7518 or hkvca@hkvca.com.hk  
Visit us at www.hkvca.com.hk

Connect with us.
Facebook Twitter LinkedIn
Disclaimers
 
The HKVCA web site may contain information that is created and maintained by a variety of sources both internal and external to HKVCA. The site may contain the personal opinions and other expressions of the persons who post the entries. HKVCA does not control, monitor or guarantee the information contained in links to other external web sites, and does not endorse any views expressed or products or services offered therein. In no event shall HKVCA be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such site or resource.
 
©2021 HKVCA. All Rights Reserved.