 | | HKVCA Private Equity Fundamentals Virtual Training Series 2022 | |  |  | | HKVCA Private Equity Fundamentals Virtual Training Series 2022 has concluded successfully. Thank you for your participation and support. See you next year. | The HKVCA successfully held its Private Equity Fundamentals Virtual Training Series 2022. The Association decided to hold the training series in April and May, earlier than it has been held in previous years. The program was restructured and condensed from eight modules to six, with a special session held on crisis management, which in particular addressed the post-pandemic environment. In addition, each module featured relevant case studies so participants were better able to comprehend and understand the materials presented.
The first session, held on April 28th, dealt with private equity basics and venture capital investment. Modules covering investment decisions; valuation and tax issues; and transaction documentation were completed on May 5th, 12th and 17th respectively. There was also a module on ESG, portfolio management and exit strategies, which was held on May 26th. The final module, a session dedicated to fundraising, was held on May 31st.
We were extremely pleased this year to have had more than 200 delegates attend the training series and received tremendous feedback from participants about how much they learned. The HKVCA extends its sincere thanks to the following amazing group of industry experts who were course instructors (alphabetical by company name): |  | Michael Prahl
Partner
ACE Equity Partners |  | Queenie Ho
Partner
Affinity Equity Partners |  | Matthew Puhar
Partner
Akin Gump Strauss Hauer & Feld |  | Naomi Moore
Partner
Akin Gump Strauss Hauer & Feld |  | Wendy Zhu
Managing Director
AlpInvest Partners |  | Haide Lui
Head of Investor Relations
Ascendent Capital Partners |  | Bryan Koo
Partner of Corporate M&A & Private Equity Practice
Clifford Chance |  | Andrew Crook
Head of Corporate APAC
Clifford Chance |  | Alvin Lam
Principal
CVC Capital Partners |  | Patrick Yip
Vice Chair
Deloitte China |  | Alice Chan
Director, Valuation, Modelling and Economics, Strategy and Transactions Ernst & Young |  | Brian Lee
General Counsel FountainVest Partners |  | Michael Chan
Head of International Issuer Services HKEX |  | KO Chia
President
HKVCA |  | Sandy Fung
Partner, Alternative Investments, Tax, Hong Kong
KPMG |  | Kasheen Grewal
Director, Deal Advisory & M&A Tax KPMG |  | Ivan Chan
Executive Director Morgan Stanley |  | Marcia Ellis
Global Chair, Private Equity Group Morrison Foerster |  | Yilong Luo
Registered Foreign Lawyer
Morrison Foerster |  | Mounir Guen
Chief Executive Officer
MVision Private Equity Advisers |  | Min Lin
Partner (Hong Kong), NewQuest Capital Partners |  | Gordon Yen
Founding Managing Partner
Radiant Tech Ventures |  | Lorna Chen
Asia Regional Managing Partner & Head of Greater China
Shearman & Sterling | | | | | | | The HKVCA was established with the objectives of promoting and protecting the interests of venture capital in Hong Kong. It also offers its members a wealth of additional benefits, including unparalleled opportunities for networking, knowledge enhancement and social activities and interaction. We encourage you to renew your membership today as together we work to strengthen our industry, both in Hong Kong and across the Asia-Pacific region. Please do not hesitate to contact Joanne Yuen, Secretary General, or Ceylon Chan, Membership Manager, if you have any questions or would like more membership information. | | | | | Limited registrations available | | Starting in 2022, the SFC requires ROs and EOs to take two additional CPT hours covering topics relating to ethics and compliance. |  | | Ethics, Compliance and Corporate Culture | | Sponsored by |  | | | This interactive webinar will involve the active participation of attendees who will be invited to vote on the choices they would make under different practical situations. The questions typically have no obviously right or wrong answer, rather the aim is to prompt discussion around the sort of thinking that "good culture" should promote and what a culture of compliance may require. Among the issues to be addressed are: - Regulatory expectations around “ethics” and “culture" and why the subject matters.
- Concept of ethics and culture as part of a senior manager’s regime, its importance in a compliance setting and the challenges staff are likely to face when they make difficult day-to-day choices.
- A discussion of how individuals can best manage their personal risk while at the same time protecting their institution.
| | Speakers: |  | Mark Shipman
Partner of Funds &
Investment Management Group,
Clifford Chance |  | Viola Lui
Partner of Funds &
Investment Management Group,
Clifford Chance |  | Benjamin Lohr
Consultant of Funds &
Investment Management Group,
Clifford Chance | | | | | Date: | June 14, 2022 (Tuesday) | | Time: | 10:00 AM - 12:00 NOON (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | Corporate Full Member
1 free pass per company
additional passes: HK$300 per person | Corporate Associate / Overseas
(Full/Associate) Members
HK$300 per person | | Non-Member
HK$600 per person | | | CPT: | 2 points^
^Starting in 2022, the SFC requires ROs and EOs to take two additional CPT hours covering topics relating to ethics and compliance. | | *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 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: June 13, 2022 |    |
| | Limited registrations available | | | Private Equity and Impact Investing | | Sponsored by |  | | Many mainstream private equity firms are increasingly considering impact investing - or investments that seek to create environmental and social impact alongside financial returns. This may be an attempt to attract more funds, earn potentially higher returns or to create greater investment strategy diversification. In a promising sign, European GPs raised over EUR4 billion in 2021 for impact focused instruments, and a further EUR2.5 billion so far in 2022. In this webinar we will discuss: - What the growth in the impact investing market means for mainstream private equity firms.
- The repercussions of going beyond the traditional focus on downside risks associated with ESG issues, towards an impact investment strategy.
- The processes involved in designing and managing an impact fund, from due diligence, to structuring, to post investment management.
| | Speaker: |  | Leonie Kelly
Director, Head of Sustainable Investment Consulting,
Ogier | | | | | Date: | June 23, 2022 (Thursday) | | Time: | 3:00 PM - 4:00 PM (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | HKVCA Member
1 free pass per company
additional passes: HK$200 per person | Non-Member
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 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: June 22, 2022 | | |
| | Limited registrations available | | | The Democratization of Private Equity | | Sponsored by |  | | The emergence of retail/public investor money entering private equity and the growth in investment platforms have begun to “democratize” access to private equity. Is this trend connected to the growing number of IPOs that we’re seeing with PE firms?
This HKVCA webinar will examine the democratization trend and discuss: - The emergence of job positions at Tier 1 private equity firms that are focused on private wealth.
- Whether there will be more IPOs and M&A down the line?
- The potential impact of blockchain and crypto in terms of decentralized tokens being offered to HNWIs as a proxy for voting and governance rights.
| | Speakers: |  | Moderator:
Gaurav Nayak
Sales Director,
Datasite |  | Seung-Ki Jeong
Manager,
DGB Life |  | Myron Zhu
Head of Private Markets, Asia,
Manulife |  | Pamela Fung
Executive Director,
Morgan Stanley Alternative Investment Partners | | | Date: | June 28, 2022 (Tuesday) | | Time: | 10:00 AM - 11:00 AM (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | HKVCA Member
1 free pass per company
additional passes: HK$200 per person | Non-Member
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 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: June 27, 2022 | | |
|  | | China Private Equity Summit 2022 | | Date: | August 24, 2022 (Wednesday) | | Time: | 9:30 AM - 5:10 PM (HKT) | | Format: | Online / Physical | | Venue: | N100, Hong Kong Convention and Exhibition Centre | | Language: | English (some sessions will be conducted in Mandarin)# | | CPT#: | 5.5 points | | | REGISTRATION FEE | | HKVCA MEMBERS | | Corporate Full Members | | In-person pass* | Virtual pass | 1 complimentary pass
Additional passes: HK$4,500 per person | HK$2,500 per person | | Other HKVCA Members: Corporate Associate / Overseas (Full/Asso) Members | | In-person pass* | Virtual pass | | HK$4,500 per person | 1 complimentary pass
HK$2,500 per person | | Please note that a complimentary virtual pass cannot be exchanged, upgraded, transferred or in any other way converted to a physical ticket. | | NON-MEMBERS | | In-person pass* | Virtual pass | | HK$7,000 per person | HK$3,500 per person | | | 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 hkvca@hkvca.com.hk. | *Only persons who are able to present a valid Vaccine Pass may attend in-person (please refer to https://www.coronavirus.gov.hk/eng/vaccine-pass.html).
In addition, all attendees will be required to scan the “LeaveHomeSafe” QR code using the “LeaveHomeSafe” mobile app when they enter the venue.
Note that requirements are subject to change in accordance with the latest COVID-19 regulations of the HKSAR government. | | | 5.5 CPT points can be claimed after attending the full-day event. | | | #NOTE:
- Participants are hereby reminded that they are required to join the CPES virtual event at 9:30 AM (HKT) and remain until completion of the full event at 5:10 PM (HKT) if they intend to claim 5.5 CPT (SFC licence) points.
- Please be reminded that simultaneous language interpretation will not be available at CPES 2022.
- HKVCA retains the rights to make changes as it deems necessary. |  | | | | | | | | | | New Members | | | | Corporate Full Member | | Chuang's Consortium Ltd. | | | | Corporate Associate Member | | J.S. Held Hong Kong Limited | | J.S. Held is a global consulting firm providing specialized technical, scientific, financial, and advisory services. Our team brings together years of unrivaled expertise and unparalleled service to deliver comprehensive solutions to our clients. | | | | Overseas Associate Member | | PE Front Office | | PE Front Office is the only comprehensive and integrated suite of products that has been developed with a focus on the front and middle office processes for alternative investment management – private credit/debt, private equity, venture capital, fund of funds, real estate funds, limited partners, and fund admins. Our state-of-the-art yet affordable solutions include CRM, deal flow, fundraising, investment management (that supports both equity and debt), portfolio monitoring, investor management, fund administration, and investor portal access. This is further augmented by risk and compliance management, task and activities management, Outlook/Gmail integration, mobile app, document management, and detailed reports and analytics. | | | | | | | Regulatory and Tax Updates | | | | Meeting with FSTB | | Members of the HKVCA met virtually with the FSTB, IRD and HKMA on May 18, 2022, to discuss tax and regulatory issues impacting the private equity industry in Hong Kong. Most of our members raised concerns about the implementation of the concession tax rate for carried interest. The requirements of routing via Hong Kong and zero hurdle rate are potentially discouraging industry practitioners from utilizing the regime. In addition to taxation issues, the HKVCA has also recommended a green channel for Hong Kong limited partnership funds to deploy capital in mainland China and resolution of any potential regulatory risk under the existing licensing regime. | | | | Tax recommendations for asset and wealth management in Hong Kong | | Darren Bowdern and Rex Ho, both Vice Chairs of the HKVCA’s Technical Committee, and Florence Yip, committee member of the technical and tax subgroup, joined a Financial Services Development Council webinar on May 25, 2022. The speakers at the event delivered a report containing a number of tax recommendations for further developing Hong Kong’s asset management industry. They noted that the private debt market is an underdeveloped market in Hong Kong, an issue the HKVCA has also raised over the past few years with a number of government officials. It is hoped the government will adopt many of the suggestions contained in this latest report as a way of attracting more private debt managers to Hong Kong. Interested parties can access a recording of the event and the full report here. | | | | Webinar on ethics, compliance, and culture | | The HKVCA would like to kindly remind members that SFC licensed corporations’ responsible officers and executive officers are now required to fulfil TWO additional CPT hours per calendar year on the subject of regulatory compliance. To satisfy the new requirement, you are encouraged to attend relevant compliance events. The HKVCA is offering such a webinar event, hosted by Mark Shipman, Vice Chair of the HKVCA’s Technical Committee, on June 14, 2022. Additional details can be found by clicking here. | | | | | | | Event Reports | | | | Webinar: An Overview and Practices of SPACs in Hong Kong | | May 23, 2022 |  | | The HKVCA hosted a webinar on May 23, 2022, providing an overview of the use and practice of SPACs in Hong Kong. Delivered by a team of experts from Deloitte China, the discussion began with a presentation by Johnny Chu, a partner and member of the Capital Market Service Group at the firm, outlining details of the Hong Kong market. Fran Hung and Sally Yin, Partners in the firm’s Audit & Assurance, then tackled issues that need to be considered when it comes to financial reporting, sharing a case study of a completed de-SPAC transaction in the US. Finally, Conrad Chan, Leader of Venture Capital & Private Equity, spoke on the differing perspectives of investors and targets. The webinar proved highly popular with close to 180 people registering to attend. The HKVCA is grateful to Deloitte for sponsoring the event, and to the speakers and participants who made it possible. | | | | Webinar: A Hitchhiker's Guide to Digital Assets | | May 19, 2022 |  | | With more and more private equity and venture capital investment allocated to digital assets, the HKVCA hosted a webinar on May 19, 2022, with Ascent Partners that provided a comprehensive guide to the asset class. Andrew Wright, a senior advisor at the firm, was joined by his colleague Felix Wong (Principal). After an introduction to the different types of digital assets and their application, the speakers opened-up about the many pitfalls, and indeed many opportunities, to be found in digital assets and shared their own views on investing in this evolving market. More than 80 people participated in the event, which included an interactive Q&A session between attendees and speakers. We extend our thanks to the speakers and to Ascent Partners for their generous sponsorship. | | | | | | | Industry News | | | | Crypto asset manager Babel Finance reaches $2B valuation | | May 25, 2022 | | (Techcrunch by Rita Liao) - Despite recent swings in cryptocurrency values, many institutional investors appear undeterred. The growth of Babel Finance, which offers a suite of institution-facing crypto financial products, could be an indicator of how banks, investment funds and other traditional investors are embracing the emerging digital asset class... | | (link to the full article) | | | | Baring Asia makes Series A software investment | | May 16, 2022 | | (AVCJ by Tim Burroughs) - Baring Private Equity Asia has committed USD 10 million in Series A funding for a significant minority stake in CBX Software, a Hong Kong-founded product lifecycle management platform provider... | | (link to the full article) | | | | Weave paying $115 million to buy third Hong Kong hotel in 9 months | | May 11, 2022 | | (Mingtiandi by Beatrice Laforga) - Weave Living, through a joint venture with global investor Angelo Gordon, has agreed to purchase a hotel in Hong Kong Island’s Western district for HK$900 million ($115 million) from a property firm controlled by William Cheng, the son-in-law of Henderson Land Development founder Lee Shau Ke... | | (link to the full article) | | | | Nexus Point acquires Hong Kong freight forwarding business | | May 10, 2022 | | (AVCJ by Tim Burroughs) - Nexus Point Capital, which makes middle-market control investments in Greater China, has acquired a majority stake in Hong Kong-headquartered freight forwarding business Honour Lane Shipping (HLS)... | | (link to the full article) | | | | More news in Industry News | | | | | | Contact us at +852-2167-7518 or hkvca@hkvca.com.hk
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