 | | HKVCA Asia Private Equity Forum 2022 | | | | The Hong Kong Venture Capital and Private Equity Association’s (HKVCA) 12th Asia Private Equity Forum (APEF) was held virtually on January 12, 2022. As the region’s premier private equity forum, the annual event featured an exceptional line-up of expert speakers and panelists. This year, more than 60 general partners, limited partners and industry professionals came together, addressing the latest trends driving the growing and increasingly robust private markets in Asia. The event drew close to 900 delegates, most of whom were senior management and C-suite executives actively participating in the dynamic investment markets across all sectors, stages and geographies in Asia.
Following a record year of deal-making, participants noted that the private equity and venture capital markets were set to enter 2022 with growing dry powder and faster fundraising cycles. The event brought together a multi-disciplinary group of investment professionals, government representatives and industry peers to discuss the latest developments of the industry in Asia, especially in China, Japan, Korea, India, Southeast Asia and Australia. Panelists talked about the opportunities and challenges in the coming year, as well as issues around family offices, real estate, venture capital, sector-focused funds and regulation. They also addressed the growing importance of ESG, diversity and inclusion, and career advancement in the industry. |  | Distinguished guests included the Financial Secretary of the Hong Kong SAR, Paul Mo-Po Chan, GBM, GBS, MH, JP; Chairman of Asia Pacific and Head of Real Estate Asia of Blackstone, Christopher Heady; Managing Director & Head of Asia Private Equity of Neuberger Berman, Kent Chen; Managing Partner of TPG Capital Asia, Ganen Sarvananthan; and Founder, Chairman and CEO of NIO, William Li.
At the event, panelists expressed optimism about the Asia markets in 2022 despite pandemic-induced challenges and uncertainties. The past two years led investors to rethink their strategies and review their portfolios to navigate the changing economic and political landscape. Moving ahead, GPs noted their belief that markets such as India and Japan are at the inflection point for new, critical opportunities. At the same time, technology innovation and digital transformation will continue to drive value creation opportunities. Perhaps most importantly, ESG remained top of mind for the speakers, panelists and delegates, as investors indicated they would up their game and deliver tangible value.
The encouraging feedback from participants proved that even amid the pandemic, APEF remains an indispensable platform for investment professionals, government representatives and industry peers to meet and discuss the latest trends and issues in the region.
The HKVCA would like to thank all attendees, including many who joined from different time zones. Our most sincere appreciation extends also to our generous sponsors, whose substantial contributions and support made this year’s event possible. We look forward to seeing all of you again at APEF next year. | |  | We are pleased to acknowledge the generosity and support to all our sponsors.
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| | |  | 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 ESG Award of Excellence 2021 | |  | | |  | The HKVCA is pleased to announce the winners of the 2021 HKVCA ESG Award of Excellence (alphabetically by company name):
Advantage Partners (Shih An Farm)
Affinity Equity Partners (Trimco)
CVC Capital Partners (Munchy's)
The Association received a total of 26 ESG case study entries from a broad range of private equity and venture capital firms from across Asia. The judges were extremely impressed with both the variety and depth of the initiatives undertaken. All of the case study entries are available for review and can be found via this link on the HKVCA’s website. The three winners will be honored at a special award ceremony during the HKVCA Asia Private Equity Forum 2022 on January 12, 2022. |
| | |  | | Date: | March 11, 2022 (Friday) | | Time: | HKT 8:30 – 13:00 | | Format: | Online Forum | | Fee: | Members
One free pass per company
Additional pass per person: HK$400
Non-members
One pass per person: HK$800 | | CPT: | 3 CPT points can be claimed after attending the full-day event. | | 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. | | |
| | Limited seats available | | Members Only Event |  | | Sponsored by |  | | | Date: | March 4, 2022 (Friday) | | Time: | 08:30 - 09:30 (registration starts at 08:00) | | Venue: | Harcourt Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong | | Fee*: | Members
HK$380 per person
*Note, free pass no shows will be charged full price
*An additional charge may apply to accommodate special dietary requests. | | Dress Code: | Business attire | | 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. | |   | | | | | HKVCA Annual Report 2020/2021 |  | | Click here to read the report. | | |
| | | | New Members | | | | Corporate Full Members | | | | AJ Group | | | | Azimuth Asset Consulting | | Azimuth Asset Consulting provides strategic, organizational and operational advice to guide asset owners and asset managers towards their long-term goals. Azimuth Asset Consulting specializes in providing discreet advice on complex situations such as governance structures, conflicts of interest resolution, succession planning, strategic growth opportunities, and post-merger/acquisition organizational change. | | | | Betatron Ventures Limited | | Founded in 2016 and with offices in Hong Kong and Singapore, Betatron Venture Group is an early-stage venture capital firm focused on the Series Pre-A and Series A market. The Group focuses on Asia excluding Mainland China and currently has 30 portfolio companies including two successful exits. | | | | LYFE Capital | | LYFE is a global healthcare investment firm and platform dedicated to amplification of healthcare through value creation. We work with multi-stage companies with promising fast growth potential and provide capital and acceleration, allowing them to realize their maximum potential in a dynamic environment. With our team of globally knowledgeable healthcare and investment professionals, we are able to work with flexibility pivoting our investment strategy to match each and every portfolio need. This had led us to invest across global markets, primarily those in Greater China and North America, with the goal of bridging the gap through value generation. | | | | Pasaca Capital Inc. | | Primarily focused on equity investments, Pasaca targets innovative technologies and products and helps their inventors maximize their commercial value in global markets through funding, strategic transformation and formulating and executing global marketing strategies. Pasaca currently has offices in the US, Hong Kong, Singapore, mainland China and Europe. The company currently does not seek outside capital. | | | | Overseas Full Members | | | | Amino Capital | | AMINO Capital is an early stage venture firm based in Palo Alto, focused on investments in big data and data driven technologies. With over $1 billion in capital under management, Amino has funded over 220 companies mostly in seed, Series A and B, including 22 successful exits, 13 unicorns, and industry leading fast growing startups. | | | | BAI Capital Management Limited | | BAI Capital is a leading venture capital fund. Its team has invested in nearly 200 portfolios with 15 IPOs and 40+ unicorns. It focuses on sectors including urbanization and demographic change, financial services, social/ media/ content, tech and infrastructure and China-based international companies. Backed by Europe-based Bertelsmann Group, a media services and education corporation that operates in 50 countries around the world, BAI supports its portfolio company’s growth with not only long-term capital, but also Bertelsmann Group’s vast global resources and channels. | | | | Corporate Associate Members | | | | Asante Capital | | Asante is one of the largest global independent advisors with offices in London, New York, Hong Kong and Munich. It employs over 60 staff across these jurisdictions. Since inception Asante has raised and advised on over $50 billion of capital raised, across primary fund capital, secondary transactions and direct investments. | | | | Datasite Hong Kong Limited | | We are a SaaS-based cloud platform for confidential document sharing between counterparties in every stage of the M&A lifecycle, including M&A, fundraises, private placements and restructurings. | | | | Elite Partners CPA Limited | | Elite Partners CPA Limited is a corporate practice registered under the Hong Kong Institute of Certified Public Accountants and a registered Public Interest Entity Auditor under the Financial Reporting Council Ordinance. We specialize in providing audit and assurance services to Cayman Islands Funds, Limited Partnership Funds and Open-ended Fund Companies, including audit, due diligence and fund accounting services. We also provide audit and assurance to listed companies in Hong Kong and SFC licensed corporations. | | | | Linklaters | | Linklaters is a leading international law firm and has advised on significant deals in over 100 countries. In addition to serving clients from our 31 offices and via our alliances with Allens and Webber Wentzel, Linklaters’ lawyers have expertise in key jurisdictions across Asia, Europe, the U.S., the Middle East and Africa. | | | | Quantium Technology (Hong Kong) Ltd | | Quantium is a modern, intuitive fund and portfolio management system designed for private equity firms, providing actionable investor insights through a powerful data engine and real-time performance analytics. Quantium partners with leading asset managers worldwide, with over $50bn assets under platform. | | |
| | | | Event Reports | | | | HKVCA luncheon talk and webinar: Complex fund restructurings and secondary transactions | | December 14, 2021 |  | Gregory Barclay, a partner at international law firm Goodwin Procter, hosted an HKVCA luncheon talk on December 14, 2021, on the topic of fund restructuring and liquidity solutions under secondary transactions. The event, which was held in a hybrid format, attracted close to 40 guests who attended in person and an additional 50 registrants who participated online.
Barclay offered a snapshot of global trends in secondary transactions, a review of the year 2021 and predictions for 2022. The panelists included Bonnie Lo, Partner and COO of NewQuest Capital Partners; Brooke Zhou, Partner at LGT Capital Partners; Martin Yung, Principal at HarbourVest Partners; Nick Miles, Head of Europe and Asia Private Equity; as well as Paul Robine, Founder and CEO of TR Capital.
The HKVCA thanks Goodwin Procter for its sponsorship. Thanks also to the speakers and to all who attended the event, both online and in person. | | |
| | | | Industry News | | | | Animoca Brands raises US$358,888,888 at over US$5 billion valuation to grow the open metaverse | | January 18, 2022 | | (Press Release) - Animoca Brands, the company driving digital property rights via NFTs and gaming to build the open metaverse, today announced that it has completed a capital raise of US$358,888,888 (approximately A$500.3 million) at a pre-money valuation of over US$5 billion... | | (link to the full article) | | | | HK’s Ion Pacific closes second structured secondaries fund at $133.6 millon | | January 18, 2022 | | (DealStreetAsia by Kristie Neo) - Hong Kong-based Ion Pacific has closed its second structured secondaries fund at $133.6 million, said the firm in an interview with DealStreetAsia... | | (link to the full article) | | | | SPAC backed by Chinese brokerage CMB International becomes first to file for Hong Kong listing under new regime for blank-cheque companies | | January 18, 2022 | | (SCMP by Georgina Lee) - A special purpose acquisition company (SPAC) sponsored by the asset management arm of Chinese brokerage CMB International has applied to float its shares in Hong Kong, becoming the first to test a new listing regime which became effective this month... | | (link to the full article) | | | | TDX Strategies raises US$2.5 million in Series A strategic financing round led by Transcend Capital Partners | | January 05, 2022 | | (Press Release) - TDX Strategies has today announced the closing of a Series A funding round led by Transcend Capital Partners. Gobi Partners, Baboon VC, Double Peak Group as well as numerous individual strategic investors also participated in this round. Existing investors include Alameda Ventures and IWM Ventures. This new financing will fuel TDX Strategies' development of innovative investment solutions on digital assets and broaden its geographical reach for product distribution... | | (link to the full article) | | | | More news in Industry News | | |
| | | | Supporting Events | | | JUMPSTARTER 2022
Sep 2021 - Feb 2022
BIOHK 2022
14 - 17 December, 2022 | | | | Contact us at +852-2167-7518 or hkvca@hkvca.com.hk
Visit us at www.hkvca.com.hk | Connect with us. | Disclaimers
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