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   HKVCA Asia Private Equity Forum (APEF) 2024   

The Asia Private Equity Forum (APEF) 2024, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA), was a notable success. Close to 800 delegates, of which more than 65% were investors, attended the conference. The 14th annual edition of the Forum featured some 70 LPs, GPs and other industry professionals, including program leaders, speakers and sponsors. Leading industry practitioners addressed the latest trends driving private markets in Asia, particularly in China, Japan, Korea, India and Southeast Asia, and covered topics relevant to private equity, venture capital, real estate, private credit, investor sentiment and regulation.

Held at the Hong Kong Convention and Exhibition Centre, the event featured an array of distinguished guests, including: the Honourable Paul Mo-po Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR); Samson Wong, Chief Investment Officer (Private Markets), Hong Kong Monetary Authority; Ming Lu, Executive Chairman, Asia Pacific, KKR; Eric Mason, Managing Director, The Church Pension Fund; and Kent Chen, Managing Director, Neuberger Berman Asia.

Rebecca Xu, Chairwoman of the HKVCA, said: “As the HKVCA’s flagship conference and a key event during Hong Kong’s annual International Financial Week, we are delighted that APEF drew an impressive gathering of esteemed speakers and industry leaders to address the key issues, developments, and trends in private market investing in the region. APEF's robust attendance demonstrated Asia’s enduring appeal as a prime destination for global investors, and underscored Hong Kong's strategic preeminence as the gateway to the region's abundant opportunities."

Photo Album Video Highlight Speech by FS
        
   HKVCA Gala Dinner 2024  

The HKVCA was thrilled to host the 2024 Gala Dinner on January 25th at the Hong Kong Club. This highly anticipated event marked the return of this popular event after a three-year hiatus due to the pandemic.

The evening was generously sponsored by Debevoise & Plimpton LLP. Over 150 senior executives and industry leaders gathered to reconnect with fellow colleagues and peers in the private equity and venture capital community. The event provided an invaluable opportunity for networking and socializing following the challenges of the past few years.

A highlight of the evening was the HKVCA ESG Awards ceremony, where the following winners were recognized for their outstanding ESG initiatives:

• Bain Capital and Kerogen (EcoCeres)
• CVC Capital Partners (FineToday)
• Insignia Ventures Partners (Elevarm)
• PAG (AirPower)

Congratulations again to the deserving winners! We look forward to the next ESG Awards in 2025.
        
    Upcoming Events    
Unlocking Liquidity for Asia's GPs:
Financing Options for Private Equity Firms
Sponsored by  

As the private equity markets continue to grow and mature in Asia, the need to access liquidity for their owners/individual general partners are burgeoning such that the familiar techniques employed in the US and EMEA (such as management fee lines of credit, co-investment facilities extended to a single partner or a pooling vehicle) are becoming increasingly common in Asia.

In this webinar, HSBC Global Private Banking and Mayer Brown will examine the key reasons why Asian GPs (whether as a firm, for a group of employees akin to a program or selected individuals acting on a standalone basis) may look to monetise their assets (be it future management fees, carried interest and of course the NAV of their co-investment interests) and examine the different structures commonly utilised and typical challenges encountered by the borrowers and lenders alike in structuring such facilities.

Speakers:
Mathieu Rabiller
Managing Director, Head of Origination Credit Advisory,
North Asia
HSBC Global Private Banking
Doos Choi
Partner
Mayer Brown
     
Date: February 29, 2024 (Thursday)
Time: 10:00am – 11:00am (Hong Kong Time)
Format: Zoom webinar* - link will be provided upon successful registration
Fee: HKVCA 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 recording of this event will not be available.
*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: February 28, 2024, 15:00 HKT
   
Members only event
HKVCA Mixer - Year of the Dragon Mix at 6
Sponsored by   
Date: February 29, 2024 (Thursday)
Time: 18:30 - 21:00
Venue: Aaharn, Tai Kwun
Fee: HKVCA Members: HK$100 per person
  Restricted to two (2) staff members per company
   
    
Notes
  • Registration must be followed by payment to secure your place. Registration will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
  • Cancellations must be made in writing at least 7 working days prior to the event. No refunds will be made thereafter.
  • Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA members.
  • Free pass no shows will be charged full price.
  • Please inform us of any dietary requirements in advance. We cannot guarantee the ability to accommodate requirements requested on the day of the event. An additional charge may apply to accommodate special dietary requests.

FULL
Members only event
HKVCA Members Breakfast Meeting
   
Date: March 1, 2024 (Friday)
Time: 8:30 - 9:30 am (registration starts at 08:00)
Venue: Harcourt Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong
Fee*: HKVCA Members: HK$380 per person
*An additional charge may apply to accommodate special dietary requests.
Dress Code: Business attire
 
Notes
  • Please inform us of any dietary requirements in advance. We cannot guarantee we can accommodate requirements requested on the day of the event.
  • An additional charge may apply to accommodate special dietary requests.
  • Registration must be followed by payment to secure your place. Registration will be confirmed upon receipt of payment.
  • Should you require an invoice, please contact us.
  • Cancellation must be made in writing at least 7 working days prior to the event. No refund will be made thereafter.
  • Information is subject to change.
  • The HKVCA retains the right to make changes as it deems necessary.
  • Priority will be given to HKVCA Members. Seats are limited at first-come-first-served basis.
  • No media registrations will be accepted for this event.
  • Free pass no shows will be charged full price.

 
   
Notes
  • Registration must be followed by payment to secure your place. Registrations will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
  • Cancellations must be made in writing at least 7 working days prior to the event.
  • No refunds will be made thereafter. Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA members.
  • Free pass no shows will be charged full price.

Limited seats available
Maximizing Returns Through Transformational Value Creation
Sponsor:    

As developments ranging from generative AI to net zero transition gather pace, all businesses are racing to stay relevant. Faced with high inflation, interest rates and valuation multiples uplift targets, private equity players have to deploy transformational value creation and operational change, from seeking sustainable solutions to optimising cost efficiencies, to maximise returns in a competitive deal-making market.

Join us for an enlightening session with Christian Lynaes (PwC Director, Deals Strategy & Operations) and Clinton Pang (PwC Associate Director, Climate and Sustainability) as they share their expertise on these relevant topics:

  • A comprehensive approach to value creation
  • Valuable insights and effective strategies for integrating value creation and ESG throughout the investment lifecycle
  • Real-life experiences and case studies
Speakers:
Christian Lynaes,
Director,
Deals Strategy & Operations,
PwC
Clinton Pang,
Associate Director,
Climate and Sustainability,
PwC
     
Date: March 26, 2023 (Tuesday)
Time: 12:30 - 14:00 (registration starts at 12:15)
Venue: The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK
Fee: Corporate Full Member
1 free pass per company        
additional passes: HK$550 per person
Corporate Associate/Overseas (Full/Associate)/Individual Member
HK$550 per person
  Non-Member
HK$900 per person
 
CPT:  1 point
Dress code: Business Attire
Registration deadline: March 25, 2023, 15:00 HKT
   
Notes
  • Registration must be followed by payment to secure your place. Registrations will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
  • Cancellations must be made in writing at least 7 working days prior to the event. No refunds will be made thereafter.
  • Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA Members. Free pass no shows will be charged full price.
  • Participants are hereby reminded that they are required to join the event at the beginning and remain until completion of the full event if they intend to claim all CPT (SFC licence) hours the event provided.
  • The Hong Kong Securities and Futures Commission (HKSFC) approved the Hong Kong Venture Capital And Private Equity Association (HKVCA) as a Recognized Institution for Providing CPT (Continuous Professional Training). Registrants may claim CPT points for the captioned event if their employers consider this event relevant to the functions performed by them. Registrants should note that their employers, as the corporate license holder of your SFC registration, are responsible for determining whether our courses/events satisfy CPT requirements.
  • Please inform us of any dietary requirements in advance. We cannot guarantee the ability to accommodate requirements requested on the day of the event. An additional charge may apply to accommodate special dietary requests.
  • No media registrations will be accepted for this event.
  • 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 recording of this event will not be available.

Date: April 8, 2024 (Monday)
Time: 10:00 am - 3:25 pm
Venue: Function Room 1-3, Level 3, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong
Fee: Corporate Full Member
1 free pass per company        
additional passes: HK$1,000 per person
Corporate Associate/Overseas (Full/Associate)/Individual Member
HK$1,000 per person
  Non-Member
HK$2,000 per person
 
CPT:  3 points
   
Notes
  • Registration must be followed by payment to secure your place. Registration will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
  • When cancellation occurs more than 10 working days prior to the event, an administration fee of HK$500 will be charged. When cancellation occurs later than 10 working days prior to the event, the registration fee will be charged in full.
  • Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA Members.
  • Free pass no shows will be charged full price.
  • Please inform us of any dietary requirements in advance. We cannot guarantee the ability to accommodate requirements requested on the day of the event. An additional charge may apply to accommodate special dietary requests.
  • There are only limited seats available for the lunch session, and they are limited on a first-come-first-served basis
  • Participants are hereby reminded that they are required to join the event at the beginning and remain until completion of the full event if they intend to claim all CPT (SFC licence) hours the event provided.
  • The Hong Kong Securities and Futures Commission (HKSFC) approved the Hong Kong Venture Capital And Private Equity Association (HKVCA) as a Recognized Institution for Providing CPT (Continuous Professional Training). Registrants may claim CPT points for the captioned event if their employers consider this event relevant to the functions performed by them. Registrants should note that their employers, as the corporate license holder of your SFC registration, are responsible for determining whether our courses/events satisfy CPT requirements.

Save the date
   
Date: May 20, 2024 (Monday)
Time: 9:00am - 5:30pm
Venue: Hong Kong Convention and Exhibition Centre
 
HKVCA Annual Report 2022-2023
   

   
HKVCA Institute for Private Capital
The HKVCA Institute for Private Capital was established in January 2023 with the aim of developing and providing additional training to professionals from a wide range of related industries and functions. The Institute has provided training for startups from Hong Kong Science Park and Cyberport. If you are interested in learning more about our training programs, please feel free to contact Joanne Yuen, Secretary General of the HKVCA, for more details. The Institute can provide tailor-made content for financial and investment communities, startups, local and international universities, service providers, and others.
       

     
New Members
                     
Corporate Full Members
        
TTGG Venture Capital Group Co., Ltd
TTGG Venture Capital Group Co, Ltd (TTGG Ventures) was founded in November 2000. The current paid-in capital of the company is RMB 1.2 billion. Shareholders include four public companies, namely Heaven-Sent Industry Group (833044. NEEQ),BeBlue Development (600283.SH), Zhejiang Orient Financial Holdings Group (600120.SH), and Minfeng Special Paper (600235.SH), and three additonal minor shareholders. With offices in Hangzhou, Zhejiang Province, Beijing, Shanghai, and Wuhan, TTGG Ventures is strategically positioned on the ground in China’s growth markets and industrial centers.
           
IPV Capital Partners
IPV Capital Partners was seeded by Infotech, and currently manages three US dollar-denominated funds supported by leading institutional investors from around the globe. IPV Capital Partner's investment professionals have worked together for over 10 years, with offices in Beijing, Shanghai, and Silicon Valley.
       
Future Capital Discovery Fund
Future Capital is an early-stage venture capital fund focused on deep tech investments in Greater China. Founded in 2014, it has invested in more than 180 portfolio companies, including Li Auto (NASDAQ: LI & HK.2015), NIU Technologies (NASDAQ: NIU), iMotion Automotive Technology (HK.1274), Sensors Data, PingCAP, Minimax, Narwal Robotics, Well-Link Tech, LandSpace, Hose, Duckbill, MegaRobo Technologies Co Ltd, Kujiale, and more. Future Capital investors have been recognized by the Forbes Midas List and Forbes China Top 100 VC Investors.
            
ATM Capital
Established in 2017, ATM Capital is the first Chinese-led venture fund focused on the Southeast Asian market, headquartered in Jakarta, Indonesia. ATM currently manages four funds with US$1+ billion AUM. As a leading venture fund in Southeast Asia, ATM Capital mainly focuses on four historic growth opportunities: e-commerce and its supporting infrastructure, consumption and retail, fintech, and renewable energy. ATM’s portfolio company J&T Express was successfully listed on October 2023, and the company's market valuation has since grown by ~40%, exceeding USD $18 billion.
              
Corporate Associate Members
           
Herbert Smith Freehills
Herbert Smith Freehills is a leading global law firm with over 5,000 people, including 528 partners, in 24 offices across Africa, Asia, Australia, Europe, the Middle East and the US. Our team advises clients on all aspects of the private capital investment life cycle from fund raising and deployment, through asset management and on to exit, supporting clients on their most important transactions, regulatory issues and disputes. We offer a combination of top-flight execution and deep sector insight, with a particular focus on real assets, including real estate, energy and infrastructure. We are, moreover, recognised as a global leader in energy transition and ESG, two trends driving a paradigm shift in global investment.
            
Daiwa Capital Markets Hong Kong Limited
Daiwa Capital Markets Hong Kong Limited, which has been operating in Hong Kong since 1970, is regulated by the Securities and Futures Commission. We provide regional coverage to an established international client base, maximizing client opportunities through the utilization of the resources and network of Daiwa Securities Group Inc.
              

      
Industry News
       
Hong Kong InsurTech MediConCen secures $6.85m in latest funding round
Feb 9, 2024

(FinTech Global by Staff Writer) - MediConCen Limited, an InsurTech company specialising in automating insurance claims using AI, has raised $6.85m in a Series A funding round.

This investment round was led by HSBC Asset Management, with additional support from existing investors such as G&M Capital, ParticleX, and new investor Wings Capital Ventures.

With this latest injection of capital, MediConCen’s total funding now stands at $12.7 million, fuelling its expansion plans in international markets, particularly in the Middle East and Southeast Asia...

(view full article)
        
Private equity fund CVC raises $6.8 bln for its sixth Asia fund
Feb 21, 2024
(Reuters by Scott Murdoch and Kane Wu) - Global private equity fund CVC said on Wednesday it had raised $6.8 billion for its sixth Asia fund, its largest to date, showcasing strong investor demand in a challenging fundraising environment.

The fund, exceeding its $6 billion target, is 50% larger than its fifth Asia fund, CVC said in a statement. That fund raised $4.5 billion in 2020.

CVC said it increased the fund size because of demand from new and returning investors.

The fundraising shows investors are still willing to commit capital to established global investment institutions even as they confront geopolitical uncertainties, a higher interest environment, market volatility and macroeconomic headwinds in many markets...
(view full article)
             
ORI Capital Collects $260 Million for Second Life-Sciences Venture Fund
Feb 22, 2024
(WSJ by Brian Gormley) - ORI Capital, a life-sciences venture firm launched following a health scare its founder suffered, has raised a $260 million second fund after making several successful investments. Simone Song, founder and senior partner of Hong Kong- and Natick, Mass.-based ORI, underwent a colonoscopy in June 2015 that revealed a suspicious finding, necessitating emergency surgery, she said...
   (view full article)
    
Hong Kong’s Weave Living Secures Further Investment from Warburg Pincus to Accelerate Expansion throughout Asia-Pacific
Feb 27, 2024
(Technode Global by Staff Writer) - Weave Living, a Hong Kong-based living sector specialist, announced Monday that it has secured further investment from its existing shareholders – Warburg Pincus, a leading global growth investor and the Founder – Sachin Doshi.

This new equity injection will further support Weave’s ambitious plans to expand its brand footprint and property portfolio to over 5,000 owned and managed units across the region’s deepest rental housing markets, including Tokyo, Osaka, Seoul, Singapore, Hong Kong, and other select gateway cities by 2025, Weave Living said in a statement.

With this new investment, the company will grow its best-in-class institutional asset management business focused on the rental housing sector, primarily in the key markets of Japan, Korea, and Singapore...
(view full article)
          

       
Supporting Events
       
GPCA’s Global Private Capital Conference
Mar 25, 2024

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

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