 | | Hong Kong Venture Capital and Private Equity Association | | | How has the HKVCA grown along with the industry? | | HKVCA board members share their thoughts on how Asian private capital markets will grow
and how the HKVCA has developed along with the industry over the years. |  |
| | | | Limited Registrations Available |  | | Managing an early stage portfolio through Covid 19 | Discussion topics: - Lessons learned from past crises.
- Applicability of past lessons to the current environment.
- With some startups doing well and others less so, how can GPs best guide their companies through these challenging times?
| | Speakers: |  | Melissa Guzy
Managing Partner
Arbor Ventures |  | Jarlon Tsang
Head of China,
Managing Partner
Eight Roads Ventures |  | Yinglan Tan
CEO &
Founding Managing Partner
Insignia Ventures Partners |  | Judith Li
Partner
Lilly Asia Ventures | | |  | | Date: | May 27, 2020 (Wednesday) | | Time: | 9:30 - 10:30 (Hong Kong Time) | | Format: | Zoom Webinar* - link will be provided upon successful registration | | Fee: | HKVCA Members
1 free pass per company
Additional passes: HK$200 per person
Non-Members
HK$300 per person | | CPT: | 1 point | | *Be advised that a recording of this event will not be available upon its conclusion. | |   |
| | Limited Registrations Available | | | The perspective of GPs and LPs globally | Discussion topics: - Communication is key.
- Views around valuations.
- Deployment and exits.
- Fundraising dynamics.
| | Speaker: |  | Mounir Guen
CEO
MVision | | | | Date: | June 9, 2020 (Tuesday) | | Time: | 16:00 - 17:00 (Hong Kong Time) | | Format: | Zoom Webinar* - link will be provided upon successful registration | | Fee: | HKVCA Members
1 free pass per company
Additional passes: HK$200 per person
Non-Members
HK$300 per person | | CPT: | 1 point | | *Be advised that a recording of this event will not be available upon its conclusion. | | | |
| | Limited Registrations Available | | | Webinar: An overview of the PE market in APAC | Discussion topics: - Activity in 2019.
- Key trends across the region.
- Future outlook as well as the response to current market conditions.
| | Speakers: |  | Vinit Bhatia
Partner
Bain & Company |  | Hao Zhou
Partner
Bain & Company | | | | | Date: | June 11, 2020 (Thursday) | | Time: | 10:00 - 11:00 (Hong Kong Time) | | Format: | Zoom Webinar* - link will be provided upon successful registration | | Fee: | HKVCA Members
1 free pass per company
Additional passes: HK$200 per person
Non-Members
HK$300 per person | | CPT: | 1 point | | *Be advised that a recording of this event will not be available upon its conclusion | | | |
| | The AVCF will go virtual on July 6, 2020 (Monday). |  | | Asia Venture Capital Forum (AVCF) 2020 | | Date: | March 27, 2020 (Friday) July 6, 2020 (Monday) | | Time: | 9:30 – 12:30 (Hong Kong Time) | | Format: | Online Forum* | | Fees: | HKVCA MEMBER
One free pass per company
Additional pass per person: HK$400
NON-MEMBER
One pass per person: HK$800 | | CPT: | 2.5 points |
*Be advised that a recording of this event will not be available upon its conclusion. | |  | | |
| | The breakfast meeting has been rescheduled to August 7, 2020 (Friday). | | Limited Seats Available | Members Only Event |  | | | | Date: | May 8, 2020 (Friday) August 7, 2020 (Friday) | | Time: | 8:00 – 9:00 | | Venue: | Harcourt Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong | | Fee: | Full Member (Corporate): One free pass per company | | Full Member (Additional pass)/ Associate Member: HK$300 | | *Note: free pass no shows will be charged full price
*An additional charge may apply to accommodate special dietary requests. | | |
| | The CPES has been rescheduled to August 28, 2020 (Friday). |  | | China Private Equity Summit 2020 | | Date: | May 29, 2020 (Friday) August 28, 2020 (Friday) | | Time: | 8:30 - 18:00 (followed by a cocktail reception) | | Venue: | Forum - N101, Hong Kong Convention and Exhibition Centre (New Wing), 1 Expo Drive, Wan Chai, HK; Luncheon - N201, Hong Kong Convention and Exhibition Centre (New Wing), 1 Expo Drive, Wan Chai, HK | | | 6.5 CPT points can be claimed after attending the full-day event. | The China Private Equity Summit is an HKVCA flagship event, attracting over 650 venture capital and private equity practitioners, leading corporates, and other industry professionals and participants from across the region. It is recognized throughout the industry as the preeminent, “must-attend” practitioners’ conference, and features in-depth discussions and information on the latest developments and trends in the private equity market in China.
The last twelve months have been one of the most turbulent periods in the history of China private equity. With the Chinese economy slowing as a result of the China-US trade dispute, amongst other factors, the investment and fundraising amounts in Chinese private equity have seen significant drops since their heyday. What actions should be taken by practitioners in these turbulent times? Is the slowdown merely temporary or is it structural?
Meanwhile, the outbreak of CoVID-19 brought the Chinese economy practically to a halt at the start of the year. While the country has worked to contain the virus, which industry sectors have continued to hold up well? Will there be a longer term social and economic impact, and if so, what are the particular implications for China’s private equity and venture capital market?
For those still deploying capital in China, are there a growing number of emerging strategies, such as buyouts, distressed, secondaries, sector-focused strategies, PIPEs, etc.?
In terms of geographic region, do investors see the Greater Bay Area (GBA) as the next growth area? Are media reports on the ease of access to the GBA accurate? | | Early bird rate (payment deadline: June 26, 2020) | | HKVCA Members | Corporate Full Members | One free pass per company
Additional pass: HK$3,500 HK$4,500 per person | | HKVCA Corporate Associate / Overseas Members | HK$3,500 HK$4,500 per person | | Non-members | Non-Member | HK$5,800 HK$7,000 per person | | LP firms (sovereign wealth funds, pension funds, endowments, foundations, family offices, DFIS and fund of funds) | One free pass per company
Additional pass: HK$5,800 HK$7,000 per person | | | Simultaneous interpretation will be provided in English and Mandarin in the main conference room. | | |  |
| | This luncheon talk has been rescheduled to October 15, 2020 (Thursday). |  | | Leveraging big data and AI to feed your investment pipeline | | Sponsored by |  | | | Deal origination for platform investment or buy-and-build strategies is a priority for private equity, especially when dry powder is at its highest. While the industry has over the years developed a number of channels aimed at generating opportunities, among the issues today is whether the use of data will become one of these channels? Moreover, can the industry obtain good and reliable data from private companies? And, how does AI make the data “better” and more actionable? Join us at this HKVCA Luncheon Talk to hear representatives from data and AI firm Finquest share their experiences and discuss how data can be used to support targeted deal origination. | | Speaker: |  | Tanguy Lesselin
CEO
Finquest | | | | Date: | April 23, 2020 (Thursday) October 15, 2020 (Thursday) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK | | Fee: | Corporate Full Member
One free pass per company
Additional pass: HK$450 per person
Corporate Associate / Overseas Member
HK$450 per person
Non-Member
HK$900 per person | | CPT: | 0.5 point | | | |
| | Golf Day has been rescheduled to November 3, 2020 at the Shek O Golf & Country Club. |  |  | | Date: | March 6, 2020 (Friday) November 3, 2020 (Tuesday) | | Time: | Registration and breakfast: 7:30 am
Shotgun start: 8:15 am
Lunch: 1:00 pm | | Venue: | The Hong Kong Golf Club (Fanling) The Shek O Golf & Country Club
Address: 15 Shek O Road, Shek O, Hong Kong | | Format: | Scramble | | Fees*: | Early bird rate (payment deadline: September 4, 2020)
Members: HK$2,600 HK$2,900
Non-members: HK$3,500 HK$3,800
* Fee inclusive of light breakfast and lunch | | | Individual booking: | Team booking: | | | | |
| | This luncheon talk has been rescheduled to November 24, 2020 (Tuesday). | | | Business continuity planning to prepare your firm for the unexpected | | Sponsored by |  | | When confronted with unexpected business disruptions, investment firms must react swiftly, methodically and successfully, or else risk significant financial loss. This level of response requires extensive business continuity planning to ensure all aspects of a business are evaluated and protected.
Recent protests and the outbreak of COVID-19 in the region have proven that effective business continuity planning can help minimize financial loss and the negative effects of disruptions to strategic plans, market position, operations, and reputation.
Join Michael Steinkuhl, Director of APAC at a leading global managed IT services provider to the investment sector, Eze Castle Integration, for a luncheon on Tuesday, June 9, 2020 to learn best practices around remaining connected and safe when disaster strikes.
Topics of discussion to include:
• Setting up a robust infrastructure to enable your employees to work remotely
• Building and maintaining a geographically separated disaster recovery site
• Procedures and staff training vital to business continuity | | Speaker: |  | Michael Steinkuhl
Director, APAC,
Eze Castle Integration | | | | Date: | June 9, 2020 (Tuesday) November 24, 2020 (Tuesday) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK | | Fee: | Corporate Full Member
One free pass per company
Additional pass: HK$450 per person
Corporate Associate / Overseas Member
HK$450 per person
Non-Member
HK$900 per person | | CPT: | 0.5 point | | | |
|  | | Asia Private Equity Forum | | 6 CPT points can be claimed after attending the full-day event. | | Date: | January 20, 2021 (Wednesday) | | Time: | 8:30 - 17:30 (followed by a cocktail reception) | | Venue: | Forum - N101, Hong Kong Convention and Exhibition Centre (New Wing), 1 Expo Drive, Wan Chai, HK;
Luncheon - N201, Hong Kong Convention and Exhibition Centre (New Wing), 1 Expo Drive, Wan Chai, HK | | Fee: | Early Bird Rate (Payment deadline: November 6, 2020)
HKVCA MEMBERS with membership 2021 renewed
CORPORATE FULL MEMBERS
One free pass per company
Additional pass per person: HK$3,600 HK$4,800
CORPORATE ASSOCIATE / OVERSEAS (FULL/ASSOCIATE) MEMBERS
One pass at special rate: HK$3,200
Additional pass per person: HK$3,600 HK$4,800
NON-MEMBERS
Non-members: HK$7,000 HK$8,300 per person
Members of Supporting Organizations: HK$3,600 HK$4,800 per person | | CPT: | 6 points | | Free LP Passes
We have a limited number of free passes for pension funds, fund of funds, endowments, foundations, 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. | | | | Registrations cancelled on or before 1 January 2021 will receive a refund, minus a HK$300 cancellation processing fee. Registrations cancelled after 1 January 2021 are non-refundable. |
| | |  | After many months of discussion and due deliberation among the HKVCA’s Board of Directors, we would like to announce that with effect from January 1, 2020 we have amended the byline - or tagline – that appears immediately underneath the HKVCA’s logo. Specifically, the words “Hong Kong Venture Capital and Private Equity Association” have changed to “The Association for Private Capital in Asia”. The HKVCA’s new tagline is a reflection of the innovative ways in which our industry has grown and changed over the last several years, changes that can also be seen in the composition of our membership.
Our members today represent far more diverse types of asset classes than was true at the Association’s founding, and include private credit, real estate and illiquid private markets. Likewise, our membership is more diverse - in addition to our GP members, for example, we also have private capital investors from family offices, pension funds, endowments and insurance who invest in markets throughout Asia Pacific. Hence, the adoption of our new tagline was done in the sincere belief that it far more accurately reflects the nature of our industry and the aspirations of our membership. We hope all of our members are excited about this new change to our organizational identity. |
| | HKVCA Official WeChat Account | | | |
| | | The Road to Smart Banking: Virtual Banks in Hong Kong
The Financial Services Development Council has created a series of videos featuring virtual banking in Hong Kong. | INED Essentials Training Program
5 - 21 May, 2020 | SuperReturn Asia
21 – 24 September, 2020 | SuperReturn China
11 – 13 November, 2020 | Belt and Road Summit
30 November, 2020 | | | | New Members | | Corporate Full Members | | Mithera Capital | | Mithera Capital delivers comprehensive solutions to middle-market companies seeking to access compelling value-enhancing opportunities in Asian markets. Our team of highly experienced professionals advise on a wide array of cross-border transactions, including mergers, acquisitions, financing, capital raising, and licensing. Our goal is to bridge the cultural, economic and regulatory divide between US and Asian markets. We illuminate the avenues through which our clients can navigate the nuances of the region and tap into a deep well of value drivers. We focus on early to late stage companies across four disruptive sub-verticals in the healthcare and technology sectors. | | | | VU Venture Partners | | VU Venture Partners is a venture capital fund platform focusing on consumer, enterprise, fintech, frontier, healthcare, and proptech investments. Led by two top performing general partners with more than 35 years of experience, they have led some of the largest and best performing venture capital funds in the world with over four times net realized returns on more than $1.8 billion in capital. The platform’s goal is to identify the highest value investment opportunities and support continued growth through additional investments, ultimately leading to consistent superior returns and greater value for investors and portfolio companies. | | | | Overseas Full Member | | Neventa Capital SA | | Neventa Capital is a growth equity firm that invests in global digital technology SMEs with established revenue streams, strong management teams, proven technologies, established products and services and high growth potential. Product categories include fintech, AI and ML, Industry 4.0 and IoT, digital marketplaces, cybersecurity and software/SaaS that facilitate digitalization and digital transformation. | | | | Corporate Associate Member | | Gallant | | Gallant was established in 1977 and is one of the largest and best-known independent local firms in Hong Kong. With over 40 solicitors, we offer comprehensive legal services to individuals and corporate clients alike. Our work covers commercial, corporate and property related activities, both contentious and non-contentious, ranging from banking finance and joint ventures to project finance, mergers and acquisitions, listing of red chip companies and H shares in Hong Kong. Our services are delivered through our office in Hong Kong and our Guangzhou and Shanghai representative offices in China. | | |
| | | | HKVCA Research Journal Issue 7: ESG in Private Equity Investing - A Refreshed View |  | | Download the journal here. | | |
| | | | Event Reports | | | Webinar: Fund-Level Liquidity Options, including Preferred Equity and Fund Financing Market Update
May 18, 2020 | May 18, 2020 saw the HKVCA hold another of its increasingly popular webinars. Gavin Anderson and Thomas Smith, partners at global law firm Debevoise & Plimpton, delivered a virtual talk on the subject of fund level liquidity options and the status of the fund financing market.
Central to the discussion was the current market disruption and how it was creating a need for liquidity and capital at the fund level. After noting the pros and cons related to the various options aimed at increasing liquidity, the speakers went on to examine structured equity and offered sample structures pre-and post-transaction and the key legal and commercial considerations they raised. The speakers also touched on fund restructuring and NAV facilities for a typical structure.
Participants made it clear that they found the webinar an extremely useful event, especially in the light of current market conditions. More than 150 practitioners registered for the event, and there was lively interaction between the speakers and participants throughout. The HKVCA extends its sincere appreciation to both Gavin Anderson and Thomas Smith, as well as to our own Vice-Chairman, John Levack. Finally, we thank all the participants who were involved in the event, with a special thanks to Debevoise & Plimpton for their sponsorship. | | | Webinar: understanding the SFC’s circular on external electronic data storage
May 7, 2020 | The HKVCA held a webinar on May 7, 2020 as part of its popular ongoing series of virtual events. Mark Shipman, a partner at law firm Clifford Chance and a member of the Securities and Futures Commission’s (SFC) Advisory Committee, delivered a talk on the SFC’s recent circular providing guidance to licensed corporations (LC) on the use of external electronic data storage providers (EDSP).
After noting that LCs must be in full compliance with existing regulatory requirements when using EDSPs for keeping required regulatory records under section 130 of the Securities and Futures Ordinance (SFO), Shipman went on to discuss what an EDS is and the use of SaaS platforms for record keeping. He also discussed the due diligence requirements, the necessity of an audit trail, issues around governance, and the definition of approved premises under section 130 of the SFO.
Feedback received from participants indicates that the they found the webinar extremely helpful and a great knowledge resource. The HKVCA offers its sincere thanks to Mark Shipman for his excellent presentation, to our own John Levack, Vice Chairmen of the HKVCA, and to the more than 70 people who signed up for and were involved in the event. | | | Webinar: Hong Kong’s new limited partnership fund regime
May 5, 2020 | The HKVCA held another of its increasingly popular webinars on May 5, 2020. Jacqueline Bennett and Vanessa Chan, both partners at Ernst & Young Tax Services Limited in Hong Kong, joined Anson Law from the Hong Kong Monetary Authority (HKMA) and Effie Vasilopoulos, a partner at Sidley Austin LLP in Hong Kong, on an expert panel to discuss the new limited partnership fund (LPF) regime. More than 200 people participated in the event.
The HKMA’s Law began with a series of slides illustrating the position of Hong Kong as one of Asia’s premier private equity hubs, the largest in terms of total capital under management after only Mainland China. He also provided figures showing that Hong Kong was either the origin or the intermediary of more than 60% of China’s inward foreign direct investment and outward direct investment, and is continuing to grow in terms of both conventional and alternative asset management.
A discussion was then had on the legal aspects of private fund structuring in the territory, including the need for the new onshore private fund regime, a comparison of the differences between Hong Kong, the Cayman Islands and Singapore, and the key advantages of the new LPF regime for fund managers. From a tax perspective, there was discussion of how LPFs should be taxed in Hong Kong, the unified funds tax exemption legislation, as well as the licensing requirements for private fund managers. The presentation was then followed by a robust discussion of the opportunities arising from the new LPF regime.
The HKVCA was pleased to receive an enormous amount of positive feedback on the virtual event, with many participants noting the practical knowledge they gained from the discussions and the high degree of interaction that existed between the speakers and participants. The Association would like to thank all those who participated, with a special thanks also to John Levack, the HKVCA’s Vice Chairman, who opened the session and delivered a final wrap-up of the event. | | | HKVCA webinar: managing cash and working capital at the portfolio company level
April 16, 2020 | In response to the recent social distancing measures required because of the Covid-19 pandemic, the HKVCA hosted its first webinar on April 16, 2020. Christopher Ball, Director of Advisory at KPMG, delivered a presentation to participants that included a series of slides showing the far-reaching impact Covid-19 has had on businesses and the crisis it has created in terms of working capital and cash management. He also discussed the operational cycles involved in working capital, forecasting to fulfill inventory, and used charts illustrating the long-term assessment of capacity to operate within debt limits.
More than 100 practitioners registered for the webinar, and there was robust interaction between speaker and participants. The HKVCA was pleased to receive a great deal of positive feedback, with participants confirming they found the information extremely timely and of real practical value. The Association would like to thank Christopher Ball and all the participants, and a special thanks is extended to KPMG for sponsoring the event. | | |
| | | | Industry News | | | Private Equity Firm ShawKwei & Partners Invests in International Cosmetic Suppliers Ltd.
May 25, 2020 | | Asian private equity firm ShawKwei & Partners (“ShawKwei”) announces a significant investment into International Cosmetic Suppliers Ltd. (“ICS”), a full-service leading provider of cosmetic, beauty and skin care packaging headquartered in Hong Kong. ICS was established in 1991 by founder and current CEO, Sue Nichols, and is a leader in the design and supply of cosmetic and beauty packaging to global brands... | | (link to the full article) | | | | COVID-19: Reflections during an unprecedented time | | The current COVID-19 crisis is unprecedented, even for those of us who were around during the Japanese asset price bubble, the US savings and loan crisis, Black Monday, the Energy crisis, the dot com bust, the Gulf War, and the 2008 GFC. A virus put a virtual halt to the normal physical human activities of going to work, going to school, going out to eat, jogging, traveling, and visiting friends and family... | | (link to the full article) | | | | China issues financial guidelines for the Greater Bay Area | | May 14, 2020 | | (CGTN by Staff Writer) - China published a list of guidelines on Thursday aimed at further promoting financial opening and innovation in the Greater Bay Area... | | (link to the full article) | | | | In the time of unprecedent uncertainties, Oceanpine Capital Fund II successfully held $200M first closing as scheduled | | May 13, 2020 | | This is the first time Oceanpine has sought funding from external LPs since its inception in 2016. That year, the firm set up its $400 million debut fund using internal capital. Founder Dave Chenn, who previously established China Century Group in 2005, has participated as an LP in 15 technology-focused venture capital and private equity funds... | | (link to the full article) | | | | Hong Kong eco scuba startup ZuBlu secures US$1 million seed funding | | May 12, 2020 | | (Green Queen by Sally Ho) - ZuBlu, a Hong Kong-based sustainable scuba diving tourism startup, has just announced that it has attracted US$1 million in a seed funding round, with investors optimistic that there will be a surge in green tourism and conservation once the coronavirus lockdowns eases. The funding round was led by regional early stage venture capital firm Wavemaker Partners, with additional investment from impact outfits Mana Impact Partners and Singapore’s female-led angel network She1k, as well as a round of angel investors... | | (link to the full article) | | | | Hong Kong alt-lender Oriente raises $50 million | | April 28, 2020 | | (PYMNTS by staff writer) - Hong Kong-based fintech Oriente has raised $50 million in its ongoing Series B round, according to finews.asia... | | (link to the full article) | | | | Talkpush, Hong Kong recruitment automation leader, poised to accelerate job creation in LATAM after investment from Latin Leap | | April 20, 2020 | | (Aithority by Staff Writer) - Talkpush.Com, a Hong Kong-based HR solutions platform, has secured funding from Latin Leap, a Colombia-based venture capital studio focusing on opening up opportunities in Latin America for Asian tech-scale UPS... | | (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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