 | | HKVCA Christmas Cocktails 2021 | |  | The evening of December 9, 2021, saw the return of another of our annual events following last year’s pandemic-related cancellations. The HKVCA’s perennially popular Christmas Cocktails was held at the China Club with close to 100 people representing the different sectors of the private equity and venture capital community attending. Many members noted how much they enjoyed the opportunity to meet in person with their professional colleagues. The event was a decidedly festive affair, with Christmas music playing in the background and colorful holiday decorations visible throughout the room.
The HKVCA would like to thank both Akin Gump Strauss Hauer & Feld and Ascent Partners for their generous sponsorship, as well as all the participants who together helped make this a truly wonderful event. | |
| | |  | | After cancelation of last year’s event due to the pandemic, the HKVCA was thrilled to have finally held its popular annual Golf Day on November 30, 2021, at the Shek O Country Club. The event had an almost celebratory feel with perfect weather bringing blue skies and a brilliant sunny day.
Close to 75 people attended the event, including a few attendees who were non-golfers. Eighteen teams in total competed in the tournament, with each team comprised of various GPs, LPs, and professional services providers working in the private equity and venture capital industry. More than 70 golfers tackled the challenging course, with cocktails available at the close of the tournament, capping off a wonderful day.
We would like to thank our generous sponsors, specifically our Platinum Sponsors Citigroup and Morgan Stanley; our Gold Sponsors Ernst & Young and Jefferies; our Silver Sponsor, AON; and our Wine Sponsors, Jebsen Capital and Jebsen Fine Wines. We would also like to thank the HKVCA’s Golf Committee - Varun Bery, Chin Chou, Terrance Philips, Bob Partridge, Sunil Chandiramani and Adam Goern - for their hard work and support ensuring the event was a success. |
| | |  | 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: | January 12, 2022 (Wednesday) | | Time: | 9:00 - 17:15 | | Format: | Online / In-person | | Venue: | Forum – N101 Hong Kong Convention and Exhibition Centre (New Wing);
Luncheon – N201 Hong Kong Convention and Exhibition Centre (New Wing) | | Fee: | | HKVCA MEMBERS WITH MEMBERSHIP 2022 RENEWED | | Corporate Full Members | | In-person pass* | Virtual pass | 1 complimentary pass
Next pass at special rate: HK$3,000
Additional passes: HK$4,800 per person | HK$2,700 per person | | Other HKVCA Members: Corporate Associate / Overseas (Full/Associate) Members | | In-person pass* | Virtual pass | First pass at special rate: HK$3,000
Additional passes: HK$4,800 per person | 1 complimentary pass#
HK$2,700 per person | | #Please note that a complimentary virtual pass cannot be exchanged, upgraded, transferred or in any other way converted to a physical pss. | | NON-MEMBERS | | In-person pass* | Virtual pass | | HK$8,300 per person | HK$4,600 per person | | SUPPORTING ORGANIZATIONS | | In-person pass* | Virtual pass | | HK$6,400 per person | HK$3,680 per person | Special Packages (APEF2022 + Asian Financial Forum)
for HKVCA Corporate Full / Overseas Full Members | | APEF2022 In-person pass* + AFF 2-day Hybrid Pass (Physical attendance only on Day 1) | APEF2022 Virtual pass +
AFF 2-day Virtual pass | | HK$5,400 per person | HK$3,300 per person | | | CPT: | 5.5 CPT points can be claimed after attending the full-day event. | | | Group discount: Register in a group of 3 or more from the same company and enjoy a 15% discount. | 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 apef@hkvca.com.hk / hkvca@hkvca.com.hk. | *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 to attend in-person. Persons unable to provide proof of vaccination and/or those medically exempt from receiving the COVID-19 vaccination will be denied entry.
In addition, guests are required to scan the “LeaveHomeSafe” 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 in-person pass. | | | | | Registrations cancelled on or before 29 December 2021 will receive a refund, minus a HK$500 cancellation processing fee. Registrations cancelled after 29 December 2021 are non-refundable. |  |
| | Limited seats available | | Members Only Event |  | | Sponsored by |  | | | Date: | March 4, 2022 (Friday) | | Time: | 08:30 - 09:30 (registration start 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 Member | | | | Corporate Full Members | | | | Brawn Capital Limited | | Brawn Capital is an asset manager dedicated to furthering the expansion of renewable energy. Brawn Capital offers investors an opportunity to invest in solar power plants in Asia-Pacific that are sourced by its exclusive on-the-ground development partners via its Funds or separately managed accounts. | | | | Lavender Hill Capital Partners | | Lavender Hill Capital Partners manages a growth stage private equity fund focusing on TMT and technology enabled sectors in China and China affiliated investments across Asia and globally. | | | | Corporate Associate Member | | | | Constellar Capital Partners HK Ltd | | Constellar Capital is a consulting and placement firm specializing in Alternative Investments for APAC institutional investors. We have been raising Asian LP money for over seven years. Constellar has a solid history of sourcing world class managers across multiple asset classes and strategies with an impressive track record of raising capital from a wide range of institutional investors across Asia. | | |
| | | | Event Reports | | | | Webinar: Impact investing | | December 7, 2021 |  | | KPMG's Andrew Weir, Global Chair, Asset Management and Real Estate, KPMG International; Regional Senior Partner and Vice Chairman, moderated an online panel discussion on impact investing on December 7, 2021. Joining him were speakers Jeffrey Gruccio, Principal, Primary Funds at AlpInvest Partners; Yan Yang, Managing Director at BlackRock Private Equity Partners; and Semiray Kasoolu, Manager at TPG – Y Analytics. Among the issues addressed were the trends in impact investing over the last 12 months. The speakers agreed that while the development of impact investing in North America and Europe was relatively mature, there now appeared to be growing demand for such investing in Asia. They noted too that impact investing has become more core and mainstream at the largest private equity fund houses, and that the use of measurements and benchmarking were essential for development. The importance of the topic was highlighted by the fact that close to 100 people registered to attend. We would like to extend our thanks to Jie Gong, Chairwomen of the HKVCAs ESG Committee who hosted the webinar, and to Andrew Weir and KPMG, whose sponsorship made the event possible. | | | | HKVCA Members Breakfast Meeting | | December 2, 2021 |  | | An HKVCA Members Breakfast Meeting was held at the Hong Kong Club on December 2, 2021, the last such meeting of the year. With ticket requests oversubscribed, and 60 members in attendance, it is clear that our breakfast meetings continue to be among our most popular activities for members. Hosted by HKVCA board member Danny Lee, members took full advantage of this valuable opportunity for networking and connecting with industry peers and fellow practitioners. We would like to thank all those who attended for their enthusiastic participation. Thanks also of course to sponsor, Akin Gump Strauss Hauer & Feld LLP. | | | | Webinar: Impact of recent legal and regulatory changes in China on the PE and VC industry | | November 23, 2021 |  | Lorna Chen, Vice Chair of the HKVCA’s Technical Committee as well as Asia Regional Managing Partner and Head of Greater China at international law firm Shearman & Sterling, hosted an HKVCA webinar that examining the impact of recent legal and regulatory changes in China on private equity and venture capital. Held on November 21, 2021, more than 250 people registered for the event.
Joined by fellow Shearman & Sterling partner Brian Burke, and partner Kate Yin from China-based law firm Fangda Partners, the speakers discussed China’s newly implemented personal information protection law, as well as its data security law and other relevant data protection legislation. The speakers stressed that the industry needed to be especially mindful of Chinese requirements involving cross-border data transfers and the practical implications this has on private equity investment. The speakers also noted the need to conduct data due diligence, ensure data compliance, develop protocols and identify the persons who provide data to you.
The HKVCA offers its thanks to Shearman & Sterling for sponsoring the event, and to the speakers and participants, especially Lorna Chen for her services as host. | | | | Webinar: Blockchain and tokenization in the PE and VC industry | | November 11, 2021 |  | Ben El-Baz, Head of Ecosystems with the Hashkey Group, hosted an HKVCA webinar on November 11, 2021, where he discussed the growth of investments in blockchain and tokenization by the private equity and venture capital industry. As many as 100 people attended the online event.
After identifying actual examples of private equity firms and venture capital players who have deployed capital to blockchain related companies, El-Baz highlighted the two key categories of virtual assets, namely utility tokens and security tokens. He also noted that asset tokenization is now widely applied in the PE and VC industries through investments, fundraising as well as mezzanine financing. He also reminded attendees of the importance of seeking professional and licensed partners to deal with blockchain related transactions.
The HKVCA extends its thanks to Ben El-Baz and the Hashkey Group for their generous sponsorship and also thanks all those who attended the event. | | |
| | | | Industry News | | | | Blue Owl Capital acquires Ascentium to establish Hong Kong presence as part of further APAC expansion | | December 09, 2021 | | (Press Release) - Blue Owl Capital (NYSE: OWL), a leading alternative asset manager, today announced it acquired Ascentium Group Limited to establish its physical presence in Hong Kong. Blue Owl recently opened an office in Singapore, so the Ascentium acquisition and establishment of an office in Hong Kong, further strengthens the firm's presence in the Asia-pacific region. Ascentium is led by its Founder and CEO, James Lee, who will serve as the Head of Blue Owl's Institutional Sales Team in Asia... | | (link to the full article) | | | | Pickupp raised US$37mil in Series B, third round in last year | | December 09, 2021 | | (Digital News Asia) - Hong Kong founded Pickupp, an on-demand logistics startup has announced US$37 million (RM156.4 million) in Series B funding, led by Jardine Matheson... | | (link to the full article) | | | | Blackstone buys Hong Kong industrial building for self-storage JV | | November 29, 2021 | | (Mingtiandi by Beatrice Laforga) - US private equity giant Blackstone on Thursday closed on the purchase of its third Hong Kong industrial building this year, picking up a property in Shau Kei Wan held by the family of late “Shop King” Tang Shing-bor to add to its self-storage holdings in the city, according to sources familiar with the transaction... | | (link to the full article) | | | | Airwallex raises $100M at a $5.5B valuation to expand its business banking and payments platform globally | | November 18, 2021 | | (TechCrunch by Ingrid Lunden) - E-commerce and other online businesses are becoming increasingly global in their operations and customer bases, and a startup called Airwallex — which has built a banking solution that addresses the opportunity to provide cross-border financial services — has been seeing a massive surge of activity. To capitalize further on that opportunity, today the company is announcing growth funding... | | (link to the full article) | | | | More news in Industry News | | |
| | | | Supporting Events | | | The 4th Asian Funds Forum 2021
Dec 19 & 28, 2021
JUMPSTARTER 2022
Sep 2021 - Feb 2022
Asian Financial Forum 2022
10 - 11 January, 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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