 | | | | The HKVCA submitted a letter to several government departments with proposals for tackling the exodus of talent from Hong Kong. We encourage the HKSAR government to lift the current pandemic-related restrictions as soon as possible to prevent the increase in permanent departures leading to a long-term scarcity of talent in the territory. |  |
| | | 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 |  | | A Hitchhiker's Guide to Digital Assets | | Sponsored by |  | | | Topic discussion: - A touch of the digital assets
- Digital assets: Down the rabbit hole for pitfalls and opportunities
- A Michelin Star Guide to digital assets
| Speakers:
|  | Andrew Wright
Senior Advisor,
Ascent Partners |  | Felix Wong
Principal,
Ascent Partners | | | |  | | | Date: | May 19, 2022 (Thursday) | | Time: | 10:00 AM - 11:15 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 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: May 18, 2022 |   |
| | Limited registrations available | | | An Overview and practices of SPACs in Hong Kong | | Sponsored by |  | | The HKVCA is pleased to host a virtual webinar on May 23, 2022 at 10 a.m. titled 'An Overview and Practices of SPACs in Hong Kong', seasoned special purpose acquisition company (SPAC) experts from Deloitte China's Capital Market Services Group (CMSG), Audit & Assurance (A&A), and Venture Capital & Private Equity will discuss the following topics on the back of the prevalent trend of listing SPACs in Hong Kong from an accounting perspective:
- An overview of SPACs in Hong Kong;
- Review of the recent SPAC market in Hong Kong and its outlook;
- Common considerations for financial reporting of SPACs in Hong Kong;
- Case sharing of a completed de-SPAC transaction in the US; and
- View from investors and targets.
The webinar comprises 45 minutes of discussion, which will be followed by a 10-minute Q&A session and a closing remark. | Speakers:
|  | Johnny Chu
Southern Region Offering Services Partner, Capital Market Services Group, Deloitte China |  | Fran Hung
Partner, Audit & Assurance, Deloitte China |  | Sally Yin
Partner, Audit & Assurance,
Deloitte China |  | Conrad Chan
Leader, Venture Capital & Private Equity, Deloitte China | | | | | | | Date: | May 23, 2022 (Monday) | | 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 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: May 20, 2022 | | |
|  | | The private equity and venture capital industry has grown increasingly complex. In terms of private investment, GPs are encountering an increasing number of challenges due to a tightening regulatory environment; greater demand for ESG reporting; and the impact of COVID-19 on businesses and how they operate. GPs looking for exit strategies are facing capital market volatility. The HKVCA’s Private Equity Fundamentals Course offers participants an in-depth understanding of best practices in the private equity industry; an exploration of the governance, structure, and investment challenges that are unique to Asia; and the discovery of new approaches and strategies for managing private capital. | | Date | Time (HKT) | Session | Format | CPT | Apr 28 | 09:30 - 12:30 | Module 1: PE Basics & VC Investment | Zoom | 2 | | May 5 | 14:00 - 17:10 | Module 2: The Investment Decision | Zoom | 2.5 | | May 12 | 09:30 - 12:20 | Module 3: Valuation & Tax Issues | Zoom | 2.5 | | May 17 | 09:30 - 12:30 | Module 4: Transaction Documentation | Zoom | 2.5 | | May 26 | 09:30 - 13:05 | Module 5: ESG, Portfolio Management & Exit Strategies | Zoom | 3 | | May 31 | 09:30 - 12:40 | Module 6: Fundraising Overview | Zoom | 2.5 | | | Sponsored by |  | | Who should enroll?
Experienced industry professionals looking to refresh their skills
Successful PE and VC professionals are adept at managing the shifting business environment between GPs and LPs, as well as GPs and their investees. At the same time, regulations and the investment environment are constantly changing. As a result, the HKVCA regularly updates the Course’s curriculum and contents, providing industry professionals with the most efficient way to equip themselves with the latest industry tools to address specific challenges and a deeper understanding of investment opportunities in the industry.
New entrants to the profession
The Private Equity Fundamentals Course features six structured modules that have been specially designed to provide participants comprehensive information as well as thorough analysis of the private equity and venture capital industry. The program provides opportunities for candidates to deepen their understanding of the private investment market and help them acquire relevant fundraising and exit knowledge in a complex market. | | | | REGISTER NOW | | HKVCA Member | Non-Member | | Per Module | HK$1,000 | HK$2,000 | | All 6 Sessions | HK$4,200 | HK$8,400 | | | Group Discount: Register in a group of 3 or more from the same company and enjoy a 10% discount | | - CPT and CPD points can be claimed after attending each session.
- Participants have to follow the start and finish times as stated, otherwise CPT/CPD points may be deducted.
- Participants who would like to claim CPD points have to update their Mandatory CPD Training Records with the CPD points for the course.
- 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.
- A certificate will be granted upon completion of each session.
- Materials will not be provided for every session.
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| | | | | | | | | New Members | | | | Corporate Full Member | | | | WestCap | | WestCap is a strategic investor and operator in growth equity that partners with visionary leaders to build generational companies. WestCap’s team is comprised of seasoned entrepreneurs and company builders who work side-by-side with founders to help companies scale. With over $8 billion of assets under management and committed capital, WestCap has made notable investments such as Airbnb, StubHub, iPreo, Addepar, Hopper, iCapital, GoodLeap, Cerebral, Bolt, Celsius, and NYDIG. | | | | Corporate Associate Member | | | | Gateway Private Markets (HK) Limited | | Gateway is the institutional marketplace for venture capital in Asia. We serve the most attractive venture companies via enhanced capable management solutions and bring together a diverse network of Asian institutional investors and shareholders (across family offices, venture funds, financial institutions and intermediaries). Gateway's marketplace offers unparalleled market data and automated execution tools to facilitate two-way investment and liquidity transaction flows. | | |
| | | | Regulatory and Tax Updates | | | | Submission on concession tax rate for family-owned investment holding vehicles | | The HKVCA welcomes the proposal for a tax concession regime for FIHVs. The Association submitted a letter on April 8th, 2022, which provided a number of recommendations aimed at optimizing any such initiative over the long term. Please find a link to the submission here. | | | | CPT hours on topics relating to ethics and culture | | To satisfy the additional CPT points requirement, the HKVCA scheduled a professional training class for members to be held on June 14, 2022. Mark Shipman, Vice Chairman of the Technical Committee, and his colleagues will deliver a masterclass on ethics and culture, with details to be provided in due course. | | |
| | | | Event Reports | | | | Webinar: How to be your own best ambassador using effective communication | | April 26, 2022 |  | | On April 26, 2022, the HKVCA Diversity and Inclusion Committee hosted a webinar titled “How to be your own best ambassador using effective communication”. Five senior women practitioners in the PE and VC industry shared their experiences and expertise on topics around effective communication. The speakers offered a number of scenarios to illustrate the most effective approach in particular circumstances, including, for example, the importance of leaning forward and/or raising a hand as a signal to speak. More than 50 people participated in the well-attended event, which included an interactive Q&A session between attendees and speakers. | | | | Webinar: Fund finance 2.0 – NAV financing | | April 20, 2022 |  | Danielle Roman, Partner at offshore law firm Mourant, acted as moderator for an HKVCA panel discussion on the opportunity for NAV financing in private equity. She was joined by Doos Choi, Partner at law firm Mayer Brown; and Emma Wang, Managing Partner & Head of Private Credit at TR Capital. Held on April 20, 2022, more than 120 people registered to attend the virtual event.
The speakers gave a brief overview of NAV financing and identified the benefits for funds, LPs and sponsors. The also detailed the documentation, due diligence and other considerations when applying for NAV financing. The HKVCA is grateful to Mayer Brown, Mourant and TR Capital for sponsoring the event, and to the speakers and participants who made it possible. | | | | Webinar: Proposed tax concession for family-owned investment holding vehicles (FIHV) | | April 12, 2022 |  | Harvey Coe, Partner, Ernst & Young Transactions Limited, Head of Greater China Mergers & Acquisitions, Real Estate, Hong Kong Family Enterprise Leader, moderated an online panel discussion on the proposed tax concession for family-owned investment holding vehicles in Hong Kong on April 12, 2022. Joining him were speakers Danny Lee, Senior Advisor at Blue Pool Capital, and Karina Wong, Tax Partner at Ernst & Young.
The speakers discussed the key features of the proposed tax concession and offered their own insights into the development and increasing importance of family offices in Asia. They noted that the proposed tax concession is focused on attracting single family-owned offices to open in Hong Kong. The importance of the topic was highlighted by the fact that close to 100 family office professionals and services providers registered for the event. We extend our thanks to Danny Lee, Chairman of the HKVCA’s Family Office Committee, and to Harvey Coe and Ernst & Young, whose sponsorship made the event possible. | | | | Webinar: U.S. SEC proposal targeting private fund advisers a potential game changer | | March 31, 2022 |  | Lorna Chen, Asia Regional Managing Partner and Head of Greater China at international law firm Shearman & Sterling, and Anil Motwani, Counsel at the firm, hosted an HKVCA webinar on March 31, 2022. The topic of the event were the new proposed SEC rules in the U.S. aimed at private fund advisers. Close to 100 attendees joined the webinar and participated in the discussion online.
The speakers offered a snapshot of the proposed rules, including required practices, prohibited conduct, and a timeline for their adoption. They also drew attention to the fact that the SEC has proposed amendments to Form PF, the reporting form used by larger SEC-registered advisers.
The HKVCA thanks Shearman & Sterling for its sponsorship. Thanks also to the speakers and to all who attended the event. | | |
| | | | Industry News | | | | Hong Kong SaaS firm Coherent raises $75M Series B led by Maverick Capital | | April 28, 2022 | | (Technode Global by Staff Writer) - Coherent, a Hong Kong-based no-code software-as-a-service (SaaS) provider, announced Wednesday it has closed a $75 million Series B funding round led by Maverick Capital, including Maverick Ventures, with participation from Owl Rock, a Blue Owl division, GreatPoint Ventures, and existing investors Cathay Innovation and Franklin Templeton... | | (link to the full article) | | | | Logistics platform GOGOX to go public in Hong Kong | | April 25, 2022 | | (Pandaily by Staff Writer) - On April 24, Chinese logistics platform GOGOX submitted an application for a public listing on the Hong Kong Stock Exchange (HKEx). Its co-sponsors are CICC, UBS, BOCOM International and ABC International. The valuation of this listing is about $3 billion, and the funds raised by the move are expected to total between $400 million and $500 million... | | (link to the full article) | | | | FundPark secures US$250 million to bridge Asian SME's working capital needs, with Goldman Sachs as senior facility provider | | April 20, 2022 | | (Press Release) - FundPark, Asia's eCommerce liquidity solution and technology provider, has announced the closing of an asset-backed securitization (ABS) facility of up to US$250 million with Goldman Sachs as senior facility provider... | | (link to the full article) | | | | Charles Li’s venture raises $70 million from HK tycoons | | February 31, 2022 | | (Bloomberg by Kiuyan Wong) - Charles Li, the former head of Hong Kong’s stock exchange, raised $70 million from investors including local tycoons Li Ka-shing and Adrian Cheng in the latest funding round for his new venture... | | (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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