 |  | | |  | 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 will be amending the byline - or tagline – that appears immediately underneath the HKVCA’s logo. Specifically, the words “Hong Kong Venture Capital and Private Equity Association” will be 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 Asia Private Equity Forum 2020 | |  | The Hong Kong Venture Capital and Private Equity Association’s (HKVCA) 10th Asia Private Equity Forum (APEF) was convened on January 15, 2020 at the Hong Kong Convention and Exhibition Centre. The annual event featured as many as 80 expert speakers and panelists representing general partners, limited partners and advisors. Its positioning as the region’s premier private equity forum was illustrated by the attendance of 750 delegates, more than half of whom were senior level and C-suite executives.
As in previous years, APEF 2020 brought together a diverse and well-practiced group of private equity and venture capital professionals who invest across all stages and geographies in Asia, including private equity real estate and private credit. The event program was designed to ensure vigorous discussion of the many opportunities and current issues that face investors in Hong Kong, China, India, Southeast Asia, Japan and Korea. This year also saw the introduction of two new topics to the focused sessions - LPA negotiation and 2020 hindsight – with the former session covering such issues as fund formation and structuring, and the latter prompting expert predictions for 2020 and beyond.
Distinguished guests at this annual flagship HKVCA event included the Financial Secretary of the Hong Kong SAR, Paul Mo-Po Chan, GBM, GBS, MH, JP; David Liu, Chairman of DCP Capital; Chang Sun, Managing Partner of TPG China; Jim Hildebrandt, Managing Director of Bain Capital; and Georg Wunderlin, Global Head of Private Assets of Schroders.
Feedback received by the HKVCA during and after the event confirmed that year after year, APEF continues to be regarded by industry practitioners as an indispensable platform for them to meet and discuss issues with their peers as well as government representatives and professional colleagues from other industry associations across the globe. We would like to thank all attendees, many of whom traveled from countries within the region and beyond, for joining us. 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 this year’s event possible. | | |
| | | | | The evening of Tuesday, January 14th was a special night for guests at the HKVCA’s annual 2020 Gala Dinner. The event was a sell out with more than 200 attendees gathering to enjoy a wonderful evening of splendid food and entertainment. Chin Chou, Chairman of the HKVCA, delivered a rousing speech that described some of the major activities that made up the HKVCA’s work in 2019. The dinner also featured an award ceremony where the two winners of the HKVCA’s ESG Award of Excellence 2020 received certificates in recognition of their achievements.
The evening’s entertainment was among the major highlights of the night, featuring a wonderful and spirited performance by two young Hong Kong pianists. And, with the Chinese New Year starting on January 25th, it seemed fitting that each dining table was decorated with colorful figures representing the upcoming year of the rat. The HKVCA was also pleased to be able to make a significant donation to a worthwhile charity, the Hong Kong Evangelical Dancing Troop Limited, which offers scholarship programs to talented youngsters in Hong Kong to support their development in the arts and music.
We would like to extend our very special thanks to our cocktail sponsors, King & Wood Mallesons and MVision, and to all of our guests, whose support helped make our annual dinner a truly unforgettable evening.
Please click here to view the photo album. |
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| | | | Limited Seats Available | Members Only Event |  | | | | Date: | February 21, 2020 (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 | | Other HKVCA Member/ Corporate Full Member (additional pass): HK$300 | | *Note, free pass no shows will be charged full price
*An additional charge may apply to accommodate special dietary requests. | | | |  | |
|  |  | | Date: | March 6, 2020 (Friday) | | Time: | Registration and breakfast: 7:30 am
Shotgun start: 8:15 am
Lunch: 1:00 pm | | Venue: | The Hong Kong Golf Club (Fanling), Lot No. 1 Fan Kam Road, Sheung Shui, New Territories, HK | | Format: | Scramble | | Fees*: | Members: HK$2,600 HK$2,900
Non-members: HK$3,500 HK$3,800
(Early bird rate: payment by January 31, 2020)
* Fee inclusive of golf carts, light breakfast and lunch | | Individual booking: 
Team booking: |
|  | | Asia Venture Capital Forum (AVCF) 2020 | | Date: | March 27, 2020 (Friday) | | Time: | 11:30 – 12:15 Registration and light lunch
12:15 – 17:30 Forum | | Venue: | HKEX Connect Hall, 1/F, One and Two Exchange Square, Central, Hong Kong | | Fees: | Early bird rate (payment by February 14, 2020)
CORPORATE FULL MEMBER
One free pass per company
Additional pass per person: HK$580 HK$800
CORPORATE ASSOCIATE / OVERSEAS MEMBER
One pass per person: HK$580 HK$800
NON-MEMBER
One pass per person: HK$1,500 HK$1,800 | | | | | | | HKVCA Research Journal 7th Issue: ESG in Private Equity Investing - A refreshed view |  | | Download the journal here. | | |
| | | | New Members | | Corporate Full Members | | | | Cerberus Asia Pacific Advisors II Limited | | Founded in 1992, Cerberus is a trusted partner to many of the world’s most respected investors in credit, private equity, and real estate. For more than a quarter century, we have provided capital solutions and operating expertise to help companies and properties around the world improve performance and drive value creation. We believe strong risk-adjusted returns can be generated in any market environment with the right teams, strategies, and operating capabilities. During different market cycles, we leverage the flexibility and synergy across our integrated investment platforms, as well as our proprietary operating capabilities, to create an edge for our investors and business partners to succeed. | | | | IP Investment Management Ltd. | | IP Investment Management Ltd is a real estate private equity firm targeting mid-market (USD$7-25m) deals in developed markets (U.S., Europe, and Australia). Our typical strategies are in the value-add and opportunistic domains, respectively. | | | | Kenetic Capital | | | | Landmark Partners | | Landmark Partners is a global leader in secondaries with extensive experience in private equity, real estate and infrastructure. The firm was established in 1989, and over the past 30 years, Landmark has managed 31 partnerships. The Landmark team is comprised of over 130 professionals and support staff. | | | | Legend Capital | | Legend Capital is one of the leading venture capital institutions in China. As of December 31, 2018, Legend Capital managed seven USD funds (two settled and five under management), five RMB funds, two early-stage RMB funds (one of which was the sub-fund of Junruiqi, and was not listed separately in the list below.), two USD funds specializing in healthcare, two RMB fund also specializing in healthcare, two RMB funds specializing in culture and sports and one fund specializing in red chip returns. | | | | Oceanpine Capital Limited | | Oceanpine Capital is an institutional quality growth equity investment company formed by seasoned entrepreneurs and sophisticated investors. We are rooted in China with 20 years of in-depth industry operational and business building experience. Our strong industrial and business partners’ (CEO club) network not only enables us to originate true proprietary companies with visible customer and revenues, but also provides tremendous value-added services to our portfolio companies, fostering their further growth. We invest in deep tech, innovative growth companies in both the TMT and healthcare sectors that are the driving force behind the new normal economy. We believe in long-term compounding value investing and provide value-added services to our companies by offering strategic resources and operational support. Our deal types are early growth and growth capital oriented, with us having a high operational focus and a dedicated portfolio management team. | | | | Realia Capital Group | | Realia Capital Group is a multi-family office specializing in direct investments, including real estate and corporate investments (VC, PE). We provide investment advisory and investment management services to corporate and high-net-worth individual clients. We structure and execute a wide range of investment strategies across various asset classes and industries. We provide our clients with the possibility of participating in the most attractive investment projects, from property developments to investments into high-growth companies across various sectors. | | | | Overseas Full Members | | | | Creative Ventures | | Creative Ventures is a systematic deep tech venture capital firm that delivers consistent and repeatable return. The fund invests in non-internet sectors driven by global secular trends, including labor shortages, aging populations and climate change. | | | | TruVenturo | | Founded in 2008 by Nils Regge, Germany-based family office TruVenturo is one of Europe’s leading company builders. TruVenturo follows a hands-on entrepreneurial approach by founding selected business models with a strong value proposition. In 2017, Nils Regge also co-founded Apollo Health Ventures to focus on the emerging opportunity of “longevity”, i.e. investing in ventures targeting the molecular hallmarks of aging to prevent age related diseases. | | | | Corporate Associate Members | | | | Delphos International Ltd. | | Delphos International is a 30+ year old independent financial advisory firm, specializing in structuring and capital raising. We offer access to long-term, competitively priced capital in emerging markets. | | | | Gianni, Origoni, Grippo, Cappelli & Partners | | Our associate office in Hong Kong represents our commitment to assist our clients on a global level, wherever they need us. Established in 2014, the office is our hub for Asian business and it ensures a constant presence and ready assistance to Italian companies who require support for operations in China and throughout the Asia-Pacific region. Leveraging our strong global reach, our Hong Kong associate office also advises international, local and China-based enterprises on their international business law matters and outbound investment issues as they seek opportunities outside the region. Efficiency is a primary concern for our clients. That is why we focus on providing them with a tailor-made team that is the best combination of quality and cost-effectiveness. | | | | Overseas Associate Member | | | | Pendulom Capital Ltd. | | We are investor-founders - a group of skilled investors that specialized in asset and investment portfolio management who decided to come together with the goal of making complex investment vehicles more accessible for the general public. After investing in the derivatives market with fruitful results, we are passionate about sharing our insights and experiences via our sophisticated platform. | | |
| | | | Industry News | | | | Innovation and Technology Venture Fund invites new round of applications from venture capital funds | | January 16, 2020 | | Press Release - The Innovation and Technology Commission today (January 16) invited a new round of applications from venture capital (VC) funds to become co-investment partners (CPs) of the Innovation and Technology Venture Fund (ITVF). VC funds incorporated in Hong Kong or overseas are welcome to apply before the deadline of March 31.... | | (link to the full article) | | | | Chinese PE firm Hony Capital injects $100m into HK-listed catering, retail unit | | January 16, 2020 | | (DealStreetAsia by Eudora Wang) - Chinese private equity firm Hony Capital has agreed to invest up to HK$780 million ($100 million) in its Hong Kong-listed catering and retail arm Best Food Holdings... | | (link to the full article) | | | | Private equity firm takes stake in Asian integrator | | January 15, 2020 | | (AV Magazine by Guy Campos) - Baird Capital has acquired a majority stake in the Vega Global Group. The Baird relationship with Vega better positions the company for growth in all aspects of the pro-V and video conferencing market, meeting the demands of enterprise clients for global standards and delivery platforms... | | (link to the full article) | | | | Li Ka-shing leads funding round for Hong Kong fintech startup | | January 6, 2020 | | (Nikkei Asian Review by Narayanan Soma Sungaram) - Tycoon Li Ka-shing, the former chairman of CK Hutchison Holdings, has led a new funding round for MioTech, a Hong Kong-based startup that uses artificial intelligence to generate data for investors... | | (link to the full article) | | | | More news in Industry News | |
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