| | | HKVCA Asia Private Equity Forum 2019 | | | | The Hong Kong Venture Capital and Private Equity Association’s (HKVCA) annual Asia Private Equity Forum (APEF) was held on January 16, 2019 at the Hong Kong Convention and Exhibition Centre. The theme of this year's event focused on the many challenges - but also many opportunities - that exist for value creation within the industry, and featured more than 80 expert speakers and panelists representing general partners, limited partners and advisors. The Forum attracted over 750 delegates, of which more than half were senior level and C-suite executives.
As it has in previous years, the 2019 Forum brought together a diverse and experienced group of private equity and venture capital practitioners who invest across all stages and geographies in Asia, including private equity real estate and private debt. The event program included robust discussion of the key issues emerging in fundraising, investor relations, venture capital investing, private equity real estate, co-investments, liquidity solutions, post-investment value creation and regulatory matters. There was also discussion of the current issues facing investors in China, India, Southeast Asia, Japan and Korea.
Distinguished guests at this annual flagship event included the Honourable Paul CHAN Mo-po, GBM, GBS, MH, JP, Financial Secretary of The Government of the Hong Kong Special Administrative Region; Chang Sun, Managing Partner of TPG Capital; K.Y. Tang, Founding Chairman and Managing Partner of Affinity Equity Partners; and Frank Tang, Chairman and CEO of FountainVest Partners.
Feedback the HKVCA received proves once again that the APEF has come to be seen as an indispensable platform for practitioners to meet not only their peers, but also government representatives and professional colleagues from other industry associations across the globe. We would like to thank all of the attendees, many of whom traveled from around the region and overseas. Our most sincere appreciation extends also to our valuable media partners and supporting organizations, and, finally, to our generous sponsors, whose substantial contributions and support made the event possible. | | |
| | | | | The HKVCA held its 2019 Gala Dinner on the evening of Tuesday, January 15 at the Hong Kong Bankers Club. Tickets were sold out for this popular annual event, with more than 200 attendees gathered at the Club to enjoy an evening of great food and excellent entertainment. Each dining table was decorated with colorful figures representing the upcoming year of the pig, part of the festivities associated with the Chinese New Year holiday. The evening’s entertainment was truly the highlight of the night, with a unique yet enthralling performance delivered by two young Hong Kong students playing the erhu, a traditional Chinese stringed instrument. The HKVCA was also pleased to have been able to make a donation to a worthwhile charity, the Baptist Oi Kwan Social Service, which provides needed outreach services to the elderly, youth and families across Hong Kong. And in what has become a Gala Dinner tradition, guests were treated to a slide presentation outlining the HKVCA’s 2018 activities and noteworthy achievements over the course of the previous year.
We would like to extend our special thanks to our cocktail sponsors, King & Wood Mallesons, Linnovate Partners and MVision, for supporting this very special event. Thank you also to all of our guests who helped to make our annual dinner another truly unforgettable evening.
Photo album: https://www.hkvca.com.hk/en/Gala19PA.aspx |
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| | |  | | Solving the deal origination dilemma by leveraging big data and AI | | | Solving the deal origination dilemma relies on a fast-paced and exhaustive “reverse auction” to add well-priced proprietary acquisition options to portfolio companies seeking inorganic growth and to PEs with funds to deploy. Deal origination has traditionally come from a variety of sources, among them industry experts that rely on relationships and industry knowledge; bankers and/or intermediaries that share sell-side deals as part of an auction process and provide lead generation; and internal investment teams who identify prospects through research.
At this luncheon talk Finquest, an M&A and direct investment fintech specializing in sourcing proprietary mid-market opportunities globally, will share actual client cases to illustrate how a big data-driven approach can be used to solve the deal origination dilemma and create increased opportunities for investors. | | Speaker: |  | Tanguy Lesselin
CEO
Finquest | | | | Date: | February 21, 2019 (Thursday) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, Hong Kong | | Fee: | Corporate Full Member
One free pass per company
Additional passes: HK$450 per person | Corporate Associate/
Overseas (Full/Associate) Member
HK$450 per person | | Non Member | | | HK$900 per person | | | CPT: | 1 point | | |   |
| | | Presentation on HK’s startups, how WHub & Angelhub work | | | - Presentation from AngelHub
- How angels differ from venture capital in providing early stage funding
- Ways AngelHub can collaborate with venture capital and private equity | | Speaker: |  | Karen Contet Farzam
Founder
WHub.io and AngelHub.io | | | | Date: | February 26, 2019 (Tuesday) | | Time: | 12:30 - 14:00 | | Venue: | KPMG Office, 8/F Prince's Building, 10 Chater Road, Central, HK | | Corporate Full Member
One free pass per company
Additional passes: HK$200 per person | Corporate Associate/
Overseas (Full/Associate) Member
HK$200 per person | | Non Member | | | HK$600 per person | | | CPT: | 1.5 point | | | | |
| | Limited Seats Available |  | Register for the tournament:
Register for the golf clinic: please contact Kamy Chan (kamy@hkvca.com.hk). |
| | | | | New Members | | Corporate Full Members | | | China Ping An Insurance Overseas (Holdings) Limited
China Ping An Insurance Overseas (Holdings) Limited (PAOH), established in the Hong Kong Special Administrative Region of the People’s Republic of China on October 24, 1996, is a direct wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. (Ping An Group) (stock code 2318.HK). We, together with our subsidiaries, operate the main overseas investment management business of Ping An Group. PAOH, as the Ping An Group’s professional overseas asset management platform, provides cross-border and global asset management investment and services to Ping An Group’s subsidiaries and its institutional and corporate clients. In cooperation with global asset management institutions, we also provide international investors with investment opportunities in China. | | | DCP Advisors, Limited
DCP Capital (DCP) is an international private equity firm that focuses on opportunities related to Greater China. The DCP team previously led KKR and Morgan Stanley’s private equity businesses in Greater China, with an outstanding long-term track record across multiple economic cycles. Over the past 25 years, the DCP team has led a number of successful transactions and nurtured numerous industry leaders, including Ping An Insurance, Mengniu Dairy, Haier Electronics, Modern Dairy, China Cord Blood, Fujian Sunner Development, Far East Horizon, Belle International, COFCO Meat, Asia Dairy and Uxin Group. Combining its global investment perspective and extensive local network, the DCP team has accumulated deep industry knowledge and strong operational capabilities. As a long-term value investor, DCP is committed to building long-term, win-win partnerships with portfolio companies and helping support value creation initiatives. | | | | Goldman Sachs (Asia) | | | HKUST Technology Transfer Center
The Technology Transfer Center (TTC) at HKUST serves as a bridge between the HKUST research community and the business sector, identifying opportunities for collaboration in local, regional and international markets based on HKUST's research strengths. TTC monitors primary and emerging fields of research within HKUST for early recognition of commercialization potential; manages intellectual property arising from HKUST research work; supports faculty and students in their endeavors to pursue university-industry collaboration, entrepreneurship and technology commercialization. | | | Lamivoie Capital Partners Limited
Founded in 2015, Lamivoie Capital Partners is a multi-family office headquartered in Hong Kong. Through its family partners’ well-established and global network, Lamivoie has access to high potential investment opportunities in tech start-ups. After completing several convincing deals, Lamivoie decided to launch its own venture capital fund, Lamivoie Ventures I, which targets early revenue generating tech startups with a global ambition. The investments will predominantly be in Asian companies or in companies looking at penetrating the Asian market within the first two years. Aware that other markets are also a source of great opportunity, Lamivoie will invest opportunistically in European and North American startups. This fund will focus exclusively on deals sourced through a trusted network of friends, colleagues and venture partners who invest alongside Lamivoie in co-investment vehicles. Lamivoie will focus on seed to Series A, since it is believed this is where the most upside potential remains and where Lamivoie’s expertise and network can be a real catalyst to growth. | | | Lighthouse Capital
Founded in September 2014, Lighthouse Capital has been providing private equity financing, M&A and strategic investment advisory in the TMT (technology, media and telecommunications) industries. It mainly focuses on industries such as social entertainment, consumer and industrial internet. Lighthouse Capital has closed more than 60 private equity financing transactions with an overall transaction volume of over USD 5 billion. In January 2018, Lighthouse Capital was listed as a “Top 3 Equity Investment Bank in China” by China Bridge. In April 2018, Lighthouse Capital was listed as a “China Top 4 Emerging Investment Bank” by ChinaVenture. | | | Value Partners Limited
Value Partners is one of Asia’s largest independent asset management firms that seeks to offer world-class investment services and products. Assets under management by the firm were US$17.2 billion as of June 30, 2018. Since its establishment in 1993, the firm has been a dedicated value investor in Asia. In November 2007, Value Partners Group became the first asset management firm listed on the Main Board of the Hong Kong Stock Exchange (stock code: 806.HK). In addition to its Hong Kong headquarters, the firm operates in in Beijing, Shanghai, Shenzhen, Singapore and London. Value Partners’ investment strategies cover equities, fixed income, quantitative investment solutions, SMART investment strategy, multi-asset and alternatives for institutional and individual clients in Asia Pacific, Europe and the United States. | | | | Tencent Investment | | | | Corporate Associate Members | | | Apex Group Ltd
The Apex Group, established in Bermuda in 2003, is one of the world’s largest fund administrators. Apex has continually improved and evolved its product suite by surrounding core administrative services with additional products spanning the full value chain of a fund, from middle office and corporate services to custody and depositary solutions. The globally distributed service model has rapidly expanded through a combination of organic growth and more recently bolstered by acquisition. Service is delivered by over 2,000 staff across more than 40 offices. The Apex Group administers close to $560bn in assets, including the investments of some of the largest funds and institutional investors in the world. | | | | Brunswick Group Ltd | | | | Eaton Partners Advisors (HK) Limited | | | Greenpro Capital Corp.
GreenPro Capital Group (NASDAQ: GRNQ) is a US Nasdaq listed multinational financial services company headquartered in Hong Kong, China. GreenPro has strategic offices located across the Asia Pacific region, including Kuala Lumpur, Taipei City, Bangkok, and Shenzhen. With more than 30 years of experience in the finance industry, GreenPro has accumulated a significant number of global professional certificates and has been assisting and supporting businesses and high-net-worth individuals (HNWIs) to capitalize their value on a global scale. | | | Maples and Calder (Hong Kong) LLP
Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg. The firm’s affiliate, MaplesFS, is an independent global provider of specialized fiduciary, fund administration, entity formation and management, insurance management and trust and private client services. Together, the Maples group has over 1,700 staff worldwide, with locations in Bermuda, Boston, the British Virgin Islands, the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong, Jersey, London, Luxembourg, Montreal, the Netherlands, New York, San Francisco and Singapore. | | | Morgan, Lewis & Bockius
At Morgan Lewis, we work in collaboration. We work around the clock and around the world—always ready, always on—to respond to the needs of our clients and craft powerful solutions for them. From our 30 offices* in North America, Asia, Europe, and the Middle East, we work with clients ranging from established, global Fortune 100 companies to enterprising startups. We provide comprehensive litigation, corporate, finance, restructuring, employment and benefits, and intellectual property services in all major industries, helping clients address and anticipate challenges across vast and rapidly changing landscapes. And we approach every representation with an equal commitment to first understanding, and then efficiently and effectively advancing, the interests of our clients and arriving at the best results. | | |
| | | | Industry News | | PE industry cautiously optimistic on Hong Kong tax reforms | | January 18, 2019 | | (AVCJ by Tim Burroughs) - Industry participants have praised steps taken by the Hong Kong government to make it easier for private equity firms to operate locally, while cautioning that challenges remain regarding the regulation of managers in the territory... | | (link to the full article) | | | | Asia PE investment hits $183b in 2018 | | January 14, 2019 | | (AVCJ by Tim Burroughs) - Private equity investment in Asia slowed to $183.3 billion in 2018 – from $207.3 billion the previous year – as a decline in large-scale buyout activity offset a surge in late-stage rounds for technology companies... | | (link to the full article) | | | | TPG and CICC Capital jointly establish China Synergy platform | | January 9, 2019 | | (Press Release) - TPG, the leading global alternative asset firm, and CICC Capital, the private equity arm of China International Capital Corporation Limited (CICC) (3908. HK), China's preeminent investment bank, signed an agreement to jointly... | | (link to the full article) | | | | China Everbright Limited announces final closing of CEL Global Investment Fund, L.P. | | January 7, 2019 | | (Press Release) - China Everbright Limited (Everbright) (stock code: 165.HK) is proud to announce that the CEL Global Investment Fund, L.P., a fund managed by Everbright, concluded its final closing on December 21, 2018 with a USD 539-million-dollar fund... | | (link to the full article) | | | |
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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.
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