| | | HKVCA Official Wechat Account | | | |
| | HKVCA 18th China Private Equity Summit 2019 | |  | The 18th China Private Equity Summit 2019, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA), took place on May 30, 2019. Attracting over 700 venture capital and private equity practitioners, leading corporations, and other industry professionals and participants from across the region, the Summit discussions focused on the latest developments and trends in the private equity market in China.
Held at the Hong Kong Convention and Exhibition Centre, the theme this year highlighted the “new normal” in China, represented by slower growth than has been the case in previous years and ongoing uncertainty over the trade war with the US. Against this backdrop, discussions focused on the many changes in private equity investing in China, as well as the impact of different sectors, including real estate, healthcare, education, Fintech, and AI. There were also discussions about the investment habitat and opportunities in the Greater Bay Area.
Distinguished guests at this one-day event included James Lau, Secretary for Financial Services and the Treasury of the Hong Kong SAR Government; Charles Li, Chief Executive, Hong Kong Exchanges and Clearing Limited; Dr. Weijian Shan, Chairman & CEO, PAG; Prof. KC Chan, Chairman, WeLab Virtual Bank; Andrew Weir, Senior Partner, Hong Kong / Vice Chairman, China / Global Chairman of Real Estate and Construction, KPMG; and Ivo Naumann, Co-lead Private Equity Practice and Leader RTS service line in Greater China, McKinsey & Co.
In addition to the many insightful speeches and panel discussions, a very special addition to the full-day program was the book signing event hosted by keynote speaker Dr. Shan and featuring his bestselling book Out of the Gobi: My Story of China and America. The HKVCA was honored to have hosted this book signing event and would like to express our gratitude to Dr. Shan, who made space in his very full itinerary to join us at this year’s Summit.
We would also like to thank our extremely knowledgeable audience of attendees who came from across the Asia region, making this year’s Summit a most profitable and valuable networking opportunity for participants. Thank you also to our PRC Committee led by Conrad Tsang and Rebecca Xu, our media partners and supporting organizations. Finally, the HKVCA would like to express our sincere thanks to our valuable sponsors, whose contributions and support made the event not only possible, but an unprecedented success. | | |
| | | | | | HKVCA Asia Venture Capital Forum 2019 | | Date: | July 8, 2019 (Monday) | | Time: | 12:00 - 12:30 Registration and Lunch
12:30 - 17:30 Forum | | Venue: | HKEX Connect Hall, 1/F, One and Two Exchange Square, Central, Hong Kong | | | 4.5 CPT points can be claimed after attending the full-day event. | | Confirmed Speakers (Alphabetically by Company Name): | | Fireside Chat I |  | Melissa Guzy
Co-Founder & Managing Partner
Arbor Ventures |  | Gary Beasley
CEO
Roofstock | | | | Fireside Chat II |  | Johnson Lau
Chairman & CEO
Athenex |  | Dennis Lo
Li Ka Shing Professor of Medicine
CUHK |  | Irene Chu
Head of New Economy, Head of Life Sciences, Hong Kong
KPMG China | | | | | | Other Speakers: |  | Ben Cheng
Managing Partner
C Ventures Fund |  | Eric Mason
Managing Director - Asia Investments
The Church Pension Fund |  | Peter Yan
CEO
Cyberport |  | Paul Ma
CFO & Managing Director
Hillhouse Capital |  | Albert Wong
CEO
HKSTP |  | Raymond Wong
Head of Investment
HKSTP |  | Cliff Chau
Partner
HOPU Investments |  | Simon Ho
CFO
IDG Capital Partners |  | Rocky Lee
International Partner
King & Wood Mallesons |  | Kate Hodson
Partner
Ogier |  | Donald Lacey
COO
Ping An Global Voyager Fund |  | Duncan Chiu
Co-Founder & Managing Director
Radiant Tech Ventures |  | Esther Wong
Managing Director & Head of Strategic Investment
Sensetime |  | Andrew Young
Associate Director (Innovation)
Sino Land Company |  | Chris Pu
General Partner, Head of China
Telstra Ventures |  | William Rudebeck
Founder
VCP Advisors | | | | | | | Registration | | Early Bird Rate (Payment Deadline: June 10, 2019) | | HKVCA Members | Corporate Full Members | | One free pass per company | Additional pass: HK$580 HK$800 per person | | Corporate Associate / Overseas Members | HK$580 HK$800 per person | | Non-Members | HK$1,500 HK$1,800 per person | | 4.5 CPT points can be claimed after attending the full-day event.
  | | |  |
|  | | HKVCA Private Equity Fundamentals Course 2019 | The Private Equity Fundamentals Course is organized annually by the HKVCA and provides participants with an in-depth examination and analysis of private equity and venture capital. It is especially relevant for those individuals who are seeking greater technical and practical know-how, either to increase their base knowledge or as an effective way to refresh their existing professional skill set. Made up of a series of six purpose-developed modules and a case study session, the Private Equity Fundamentals Course has proven particularly helpful for those keen to further develop their practical competencies and gain additional industry insights.
With deep knowledge and understanding of the processes underpinning the development of a firm, leading industry practitioners and experts with unmatched experience in deal-making, deal protection and the allocation of risk, structuring, company value-creation and exits will teach each module. Drawing on actual case studies, the instructors will try to illustrate how investors finance through the different stages of a company’s lifecycle, and explain financing as financial intermediaries practice it. The course also includes a curated section devoted specifically to ESG, which plays an increasingly important role in today’s investment practices and decisions. | | Module 1: PE Basics | | 10 September (Tue) | | 10:00 – 13:30 | HKU MBA Centre | | |  | Pratima Divgi
Investment Manager
Aberdeen Standard
Investments |  | K. O. Chia
Director
Grace Financial |  | John Levack
Vice Chairman
HKVCA |  | Brian Snyder
Of Counsel
Morrison & Foerster |  | Catherine Liu
Of Counsel
Morrison & Foerster |  | Lorna Chen
Head of Greater China
Shearman & Sterling | | | Date | Time | Session | Venue | CPT | | Sept 10 (Tue) | 10:00 – 13:30 | Module 1: PE Basics | HKU MBA Centre | 3 | | Sept 18 (Wed) | 14:00 – 17:55 | Module 2: Early Stage Investment | HKU MBA Centre | 3 | | Sept 26 (Thur) | 14:00 – 16:30 | Module 3: The Investment Decision | CUHK MBA Centre | 2 | | Oct 10 (Thur) | 14:00 – 17:20 | Module 4: Valuation / ESG / “High Level” Tax Issues | CUHK MBA Centre | 3 | | Oct 15 (Tue) | 14:00 – 17:05 | Module 5: Transaction Documentation | HKUST Business School | 2.5 | | Oct 22 (Tue) | 14:00 – 17:15 | Module 6: Post Investment | CUHK MBA Centre | 3 | | Nov 8 (Fri) | 11:00 – 14:30 | Module 7: Tax / Fundraising | KPMG Office | 3 | | Nov 12 (Tue) | 14:00 – 17:15 | Case Studies: CVC / HKBN & Pacific Coffee | HKUST Business School | 3 | | | Venue:
HKU MBA Centre: B2, The HKU Town Centre, 3/F, Admiralty Centre, HK
HKUST Business School: 15/F, HK Club Building, Central, HK
CUHK MBA Centre: Diamond Room, Unit B, 1/F, Bank Of America Tower, 12 Harcourt Road, Central, HK
KPMG Office: 8th Floor, Prince’s Building, 10 Chater Road, Central, HK | | | | REGISTER NOW Register in a group of 2 or more from the same company and enjoy a 10% discount. | HKVCA Member | Non-Member | | Per Module | HK$1,400 | HK$3,000 | | Case Studies | HK$1,400 | HK$3,000 | | All 8 Sessions | HK$8,960 HK$11,200 (20% off) | HK$19,200 HK$24,000 (20% off) | | | | | CPT points can be claimed after attending each sessions.
Certificate will be granted upon completion of each session. Cancellations must be in writing at least seven (7) working days prior to the event. No refund will be made thereafter. Registrations that are cancelled will receive a refund, minus a HK$300 cancellation processing fee. | | Module 7 sponsored by |  | |  |
| | HKVCA Young Professionals Mixer 2019 | | | |
| | Limited Seats Available | Members Only Event | | | | | | Date: | July 5, 2019 (Friday) | | Time: | 8:00 - 9:00 | | Venue: | Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong | | Fee*: | Corporate Full Member
One free pass per company
Additional pass: HK$300 per person | | Corporate Associate/Overseas Member
HK$300 per person | | *An additional charge may apply to accommodate special dietary requests. | | | | |
| | Limited Seats Available | Members Only Event |  | | How to be stress-proof in a stressful world | Stress is a normal part of life. It stems from worrying about work, finances, health, family and relationships. While a tolerable amount of stress can motivate us to reach our goals, being constantly stressed is not healthy and can even make us sick.
Technology has significantly increased our stress levels in recent years by exposing us to a constant flow of information. While external stressors are inevitable, we can change the way we react to it. Our brains can be rewired through neuroplasticity, combating stress by developing resilience. In this session, clinical psychiatrist Professor Lee Sing explains how stress shapes the brain and body, and how “feeling stressed” differs from the clinical level of “breakdown”. Professor Lee will also provide tips on how to:
• think flexibly to “edit” the world;
• nourish ones brain with exercise;
• take digital vacations and “waste” time with real people;
• reclaim self-awareness and acceptance;
• seek the latest and most effective treatment; and
• learn what wellness means after recovering from a unique stressful experience. | | Speaker: |  | Professor LEE Sing – Specialist in Psychiatry
MBBS, FRCPsych(UK), FHKAM(Psychiatry) | | | | Date: | July 12, 2019 (Friday) | | Time: | 12:30 - 14:00 | | Venue: | 5/F, Virtus Medical Tower, 122 Queen’s Road Central, Hong Kong | | Fee: | HKVCA Members (Corporate Full / Associate Member): One free pass per company | | Additional pass: HK$300 per person | | CPT: | 1 point | | | | |
| | | | | New Members | | Corporate Full Members | | | Aeneas Group Limited
Aeneas Group is a multi-disciplinary financial services institution with cross-border capabilities and technology driven growth initiatives, where focus is on healthcare and financial services related industries. Its wholly owned subsidiary, Aeneas Capital Limited, has been licensed by the SFC as a Type 9 asset manager license since 2005, and has subsequently obtained licenses Type 1 and 4 to deal and advise in securities. Additionally, another US incorporated subsidiary, Aeneas Capital LLC, is a FINRA regulated broker/dealer. The group first leverages on the network and capabilities of its U.S. listed sister group company, Aptorum Group [Nasdaq: APM], to tap healthcare and technology expert networks and business opportunities. | | | Advanced Industrial Research Asset Management (Hong Kong) Limited
AIR is a professional organization established for intelligent manufacturing and industrial upgrading in China, with research institutes, fund companies, investment banks and strategic advisors. We have top scientists from around the world, a financial team with a wealth of TMT experience, and legal counsel with a scientific background. We focus on the financing of scientists’ entrepreneurship projects. Apart from providing traditional investment banking services, we also assist industry in finding upstream and downstream M&A opportunities, as well as startup financing. Our funds focus on manufacturing upgrading of high-tech high-quality projects, in the region mainly between China and Britain. We invest in supporting our Investment Banking Department to serve the project companies. | | | Centurium Capital Management (HK) Limited
Founded by David Li in 2016, Centurium Capital is a leading private equity investment firm in China. Prior to founding Centurium Capital, David Li was the President of Asia Pacific and a member of the Global Executive Management Group of Warburg Pincus. Headquartered in Beijing, Centurium currently manages one dollar-denominated fund and two RMB-denominated funds targeting investment opportunities in Chinese consumer and healthcare companies. | | | China Resources Capital Management Limited
China Resources Capital Management Limited (CRCM) is a wholly owned subsidiary of China Resources (Holdings) Co., Ltd. (CR Group) focusing on alternative investment and asset management by setting up market driven PE/VC and industry specific funds with other CR Group affiliates. | | | China V Fund
In December 2015, China V Fund was founded by five former senior bankers from Goldman Sachs. The management team has on average 17 years of investment-related experience, proficient in both domestic and international capital markets. With USD 1.3 bllion equity assets under management, China V Fund focuses on TMT, artificial intelligence, smart manufacturing and logistics, among other industries. Since incorporation, China V Fund has invested in 22 companies, including the largest lithium battery company globally, CATL; artificial intelligence unicorns Face++ and Horizon Robotics; and high definition map provider, NavInfo. China Vfund was recognized as one of top 10 fastest growing private equity firms in China in both 2017 and 2018 by China Ventures. | | | HOPU (Hong Kong) Investment Consultancy Company Limited
Founded by Chairman Fenglei FANG, HOPU is a leading China-focused private equity fund with offices in Beijing, Hong Kong, and Singapore. Since its inception in 2008, HOPU has managed over US$13 billion aggregated AUM. HOPU has strong relationships with renowned long-term investors globally, including sovereign wealth funds, pension funds, endowments, insurance companies and other reputable institutional investors in Asia Pacific, the Americas, Europe, and the Middle East. | | | | Liquidity Partners Limited | | | SK Group Supex Council (IFST)
SK Group Supex Council (IFST) is the strategic governing body (council) of multifaceted investment platforms in Greater China and SEA, utilizing GPs, pure LPs as well as direct investment. | | | Tybourne Capital Management (HK) Limited
Tybourne Capital Management is a USD 6.5 billion global investment firm with a research-intensive, fundamentally driven approach to equity investing across public and private markets. We invest globally with an Asian thematic bias and focus on five sectors: consumer, financials, healthcare, industrials, and TMT. The firm is headquartered in Hong Kong with a research office in San Francisco, and employs 33 people (12 investment professionals, three data scientists, three traders, and 15 business professionals). Tybourne was founded by Eashwar Krishnan in 2012. Eashwar spent 12 years as a senior analyst and managing director at Lone Pine Capital, a US based investment firm. He moved to Hong Kong in 2007 and managed Lone Pine’s Asian operations through 2011. Prior to Lone Pine, he was an analyst at Goldman Sachs’ Principal Investment Area. | | | | Corporate Associate Members | | | Cypress House Capital Limited
Cypress House Capital Limited is a corporate finance advisory firm based in Hong Kong, providing one-stop tailored solutions to private and public enterprises. Our leaders represent nearly 20 years of equity capital market experience in Hong Kong connecting with international and particularly Chinese clientele. We are licensed by the Hong Kong Securities and Futures Commission to carry out dealing in securities (type 1) and advising on corporate finance (type 6) regulated activities. | | | Moore Stephens Transaction Services Limited
Moore Stephens is a global accounting and advisory network, with offices and member firms in over 100 countries around the world. Backed by our international network, we provide clients with all solutions and expertise they require. Our Transaction Services team is composed of professionals with practical and solid knowledge and experience. Whether your company is looking to raise development capital, make an acquisition, or is undertaking a joint venture, we guide you to ensure a successful result. From financial due diligence to tax due diligence and the many other services we offer, we work with you at every stage in the transaction to maximize the value of every business transaction you undertake. We also endeavor to perform valuations of high quality with supportable assumptions and rationales and encourage communication and interaction with clients and other parties such as auditors, lawyers, regulators and the HKEx in the pre-deal, on-going deal and post-deal stages. We are experienced in preparing valuations in relation to accounting standards (IFRS 3 – Busines Combination, IFRS9 – Financial Instruments & Expected Credit Loss, IAS36 – Impairment Testing, etc.) and the listing rules. | | | ONC Lawyers
ONC Lawyers is a professional and dynamic legal practice based in Hong Kong. We have been growing continuously since our establishment in 1992, and have now become one of the largest local law firms with more than 150 legally qualified and supporting staff. Our areas of practice include banking and finance, capital markets, China practice, construction and arbitration, corporate and commercial, criminal litigation, employment, family and matrimonial, immigration, insolvency and restructuring, insurance and personal injury, intellectual property and technology, litigation and dispute resolution, notary public services, real estate, securities, futures and funds, shipping and logistics, and wills and probate. | | | Slaughter and May
Slaughter and May is regarded as one of the most prestigious law firms in the world. We advise on high-profile and groundbreaking international transactions and have an excellent and varied client list that includes leading corporations, financial institutions and governments. We have a diverse and extensive practice covering 24 practice areas and 18 industry sectors. We have offices in London, Brussels, Hong Kong and Beijing, and work with market leading firms around the world. | | | | UK Department of International Trade Overall Network | | |
| | | | Recent Events Report | | | HKVCA ESG Brownbag Luncheon Talk: The Evolution of CSR, ESG and the SDGs in Private Equity
3 June 2019 |  | The HKVCA held its ESG Luncheon on June 3, 2019 at KPMG’s offices, with more than 60 people attending the event. The Luncheon was opened by Jie Gong of Pantheon Ventures and Chairman of the HKVCA’s ESG Committee. Steve Okun, CEO of APAC Advisors and EMPEA’s ASEAN Representative, delivered a presentation discussing an investor’s role in CSR, EST and SDGs; the role of sustainable investment in LP decision making; embedding ESG in the PE lifecycle; and using a good governance checklist. A panel discussion followed, moderated by Jie Gong and joined by Pat-Nie Woo from KPMG, Alvin Lam from CVC Capital Partners, Dequan Wang from Governance Solutions and Elaine Ng from MSCI ESG Research. The panel discussed the latest trends and the different ways of measuring ESG, especially in terms of gender balance and China governance.
The HKVCA extends its gratitude to KPMG for its continued support and to our speakers and all of those who participated in the event. | | | HKVCA Members Breakfast Meeting
10 May 2019 |  | | The HKVCA held its monthly breakfast meeting at the Hong Kong Club on May 10, 2019. Hosted by our Chairman, Chin Chou, the event was at full capacity and the attendees had an opportunity to network and connect with their fellow members and industry colleagues. The Association would like to extend its thanks to all who participated, and our special thanks to Intertrust, whose support helped make this event such a success. | | |
| | | | Industry News | | | | ESR Cayman, Asia-Pacific’s largest warehouse landlord, set to raise up to US$1.2 billion in Hong Kong’s biggest IPO so far this year | | Wednesday, June 5, 2019 | | (SCMP by Ka-sing Lam) - ESR Cayman, the largest logistics landlord in Asia-Pacific backed by private equity firm Warburg Pincus, has shrugged off the impact of the US-China trade war on the capital markets by launching Hong Kong’s biggest IPO so far this year... | | (link to the full article) | | | | Dubai’s The Luxury Closet secures $11m as it expands to Hong Kong | | May 20, 2019 | | (The National by Sarah Townsend) - The Luxury Closet, an e-commerce venture that sells used fashion items, closed an $11 million funding round as it expands its operations outside the Arabian Gulf... | | (link to the full article) | | | | Hong Kong startup YouTrip raises US$25.5m in pre-Series A | | May 17, 2019 | | (ComputerWorld HK by Dylan Bushell-Embling) - Hong Kong developed multi-currency mobile wallet YouTrip has raised US$25.5 million in a pre-Series A funding round to help pursue expansion in Southeast Asia... | | (link to the full article) | | | | Hong Kong fintech player raises $30m Series A | | May 15, 2019 | | (AVCJ by Jane Li) - Hong Kong-based OneDegree, an insurance technology start-up, has raised over $30 million for its Series A led by financial technology-focused investment firm BitRock Capital... | | (link to the full article) | | | |
| | | | Contact us at +852-2167-7518 or hkvca@hkvca.com.hk
Visit us at www.hkvca.com.hk | Connect with us.
| 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.
©2019 HKVCA. All Rights Reserved. | | |
|
|
|
|
|
