 | | Danny Lee is appointed as the new Chairman of HKVCA Family Office Committee | | Danny Lee has been appointed the new Chairman of the HKVCA’s Family Office Committee, with effect from June 1, 2021. We look forward to the development and growth of the Committee under his leadership.
Lee is a partner at Blue Pool Capital and runs their global private investments. He has over 20 years of investment experience spanning venture, growth capital and buyout transactions globally. Before joining Blue Pool, he was a managing director at Bain Capital Asia and Vice President at Investor AB, the largest industrial holding company in the Nordic region. He began his career at Lehman Brothers in New York and Hong Kong and is an Aspen Finance Fellow, Edmund Hillary Fellow, a chartered financial analyst and New Zealand Elevate Venture Fund Investment Committee member. He serves the community through his role as an independent director at the Hong Kong Chinese Women Club College, as a guest lecturer for Columbia Business School and Lingnan University, and through his scholarship supporting international students at Columbia University and the United World College in Hong Kong. Lee has a BA in Economics from Columbia University.
On behalf of the HKVCA Board of Directors and the Family Office Committee, we would like to express our sincerest gratitude to K.O. Chia, former Chairman of the Committee, for having taken up this role since 2017. We very much appreciate K.O.'s contributions and efforts to the Committee as well as the Association. |
| | | | Limited registrations available |  | | Post-pandemic thoughts: Overseas family offices and Asia investments | This HKVCA event is the last in our recent series of family office-focused webinars and will examine the post-pandemic approach of family offices and how they are adapting to the changes under the so-called new normal. The focus is on overseas family offices, particularly those with international and Asian investments, and the changes made in investment strategy across the different asset classes as a result of the COVID-19 pandemic and its impact on the operations of certain businesses.
The discussion will cover such issues as: - The impact of the pandemic on family office investments and resulting changes in strategy.
- Strategic changes made by family offices with affiliated operating businesses and the impact of these changes going forward.
- Private markets allocation in the new normal and the sectors now viewed as the most attractive.
| | Speakers: |  | Danny Lee
Partner,
Blue Pool Capital |  | Jamie Cayzer-Colvin
Executive Director,
Caledonia Investments |  | K.O. Chia
President,
HKVCA |  | | | Date: | June 3, 2021 (Thursday) | | 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 webinar recording of this event will not be available upon its conclusion.
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. | | Registration deadline: June 2, 2021 |   |
| | Limited registrations available | | Private equity disputes:
Current trends, typical issues and tactics for defending claims | | Sponsored by |  | | For private equity firms and their investors, understanding constantly evolving litigation trends is an essential component of managing risk. In this webinar, we share our insights and recent experiences of cross-border private equity disputes in court litigation and arbitration. In particular, our speakers will discuss areas where contentious issues tend to arise and provide practical guidance for avoiding and managing such risks.
Note that participants will be able to submit their questions to the speakers over the course of the event to be addressed at the end of the webinar. | | Speakers: |  | Gavin Anderson
Partner,
Debevoise & Plimpton LLP |  | Mark Johnson
Partner,
Debevoise & Plimpton LLP |  | Gareth Hughes
Partner,
Debevoise & Plimpton LLP |  | Ralph Sellar
International Counsel,
Debevoise & Plimpton LLP |  | Cameron Sim
Associate,
Debevoise & Plimpton LLP | | | | Date: | June 8, 2021 (Tuesday) | | Time: | 16:00 - 17:00 (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | HKVCA Member
1 free pass per company
additional passes: HK$200 per person
Non-Member
HK$300 per person | | CPT: | 1 point | | *Be advised that a webinar recording of this event will not be available upon its conclusion.
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. | | Registration deadline: June 7, 2021 | | |
| | Limited registrations available | | | Navigating PE investments in FIG businesses | | Sponsored by |  | | M&A transactions involving financial institution groups (FIGs) are becoming more popular with private equity houses, and we are beginning to see a notable increase in private equity looking to buy regulated FIG businesses. The sector is large and broad and includes banks, insurance companies, private equity or hedge funds, and other asset managers. This seminar aims to provide an overview of the key legal and regulatory considerations for investments in the sector.
The topics to be covered include: - Key corporate M&A issues – customary sale and purchase agreement (SPA) terms and features.
- Regulatory considerations, including change of control approvals/notifications, duty of confidentiality, governance, disclosure of interests (for listed FIG targets).
- Transition services agreements (TSAs), outsourcing and data privacy/transfer.
| | Speakers: |  | Mark Shipman
Partner,
Clifford Chance |  | Bryan Koo
Partner,
Clifford Chance |  | Vivian Kwong
Senior Associate,
Clifford Chance |  | Ryan Wong
Senior Associate,
Clifford Chance | | | | | | | Date: | June 16, 2021 (Wednesday) | | Time: | 10:00 - 11:00 (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | HKVCA Member
1 free pass per company
additional passes: HK$200 per person
Non-Member
HK$300 per person | | CPT: | 1 point | *Be advised that a webinar recording of this event will not be available upon its conclusion.
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. | | Registration deadline: June 15, 2021 | | |
| | Limited registrations available | | | The digitalization revolution and what this means for the industry | The fintech market has grown considerably over the past decade on the back of innovations such as artificial intelligence that have ushered in new business models and channels. Electronic payments, banking, insurance, and wealth management have all undergone what can best be described as a "digital facelift".
The pace of digitalization is behind the continued success of the fintech industry, accelerated too by the changing circumstances created by the COVID-19 pandemic. Fintech companies are seeing tremendous growth, while the global boom in e-commerce and m-commerce is also helping power the fintechs that feed these ecosystems.
While many might hope that operating remotely will not be the new normal, it is clear that increased digitalization is here to stay and will continue to be a major boost to innovation in the fintech sector. | | Speakers: |  | Melissa Guzy
Founder &
Managing Partner,
Arbor Ventures | | Danny Lee
Partner,
Blue Pool Capital | | | | | | | Date: | June 30, 2021 (Wednesday) | | Time: | 9:00 - 10:00 (HKT) | | Format: | Zoom Webinar* - link will be provided upon successful registration# | | Fee: | HKVCA Member
1 free pass per company
additional passes: HK$200 per person
Non-Member
HK$300 per person | | CPT: | 1 point | *Be advised that a webinar recording of this event will not be available upon its conclusion.
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. | | Registration deadline: June 29, 2021 | | |
|  | | Asia Venture Capital Forum 2021 (Online Forum) | | Date: | July 6, 2021 (Tuesday) | | Time: | 8:30 - 13:20 (Hong Kong Time) | | Format: | Online Forum* | | Fees: | HKVCA Members
One free pass per company
Additional pass per person: HK$400
Non-Members
One pass per person: HK$800 | | CPT: | 3.5 points# | | * Be advised that a webinar recording of this event will not be available upon its conclusion.
* To avoid technical problems registrants should log in to the online platform using the email address they provided when registering for the event.
# Participants are hereby reminded that they are required to join the AVCF virtual event at 8:30 (HKT) and remain until completion of the full event at 13:15 (HKT) if they intend to claim 3.5 CPT (SFC licence) points | | |  |
|  | | China Private Equity Summit 2021 | | Date: | August 17, 2021 (Tuesday) | | Time: | 9:30 - 17:10 (Hong Kong Time) | | Format: | Online Forum | | | Please be reminded that simultaneous language interpretation will not be available at CPES 2021. | | 5.5 CPT points* can be claimed after attending the full-day event. | | Registration Fee | | HKVCA Members | One free pass per company
Additional pass: HK$2,500 per person | | Non-Members | HK$3,500 per person | |
*Participants are hereby reminded that they are required to join the CPES virtual event at 9:30 (HKT) and remain until completion of the full event at 17:10 (HKT) if they intend to claim 5.5 CPT (SFC licence) points. |  |
|  |  | | Date: | November 30, 2021 (Tuesday) | | Time: | Registration and breakfast: 7:30 am
Shotgun start: 8:15 am
Lunch: 1:00 pm | | Venue: | Shek O Golf & Country Club
Address: 15 Shek O Rd, Shek O, HK | | Format: | Scramble | | Fee*: | Members: HK$2,900
Non-members: HK$3,800
* Fee inclusive of light breakfast and lunch | | | Individual booking: | Team booking: | | | | |
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| | | | | | | | HKVCA Research Journal - Eighth Issue |  | | Click here to download the journal. | | |
| | | New Members | | | | Corporate Full Members | | | | APlus Partners Management Co., Limited | | APlus Partners is a leading alternative investment management firm headquartered in Hong Kong, with a primary focus on private equity and credit opportunities in the Greater China region. | | | | MCM Investment Partners Limited | | MCM Investment Partners Limited is the investment arm of the MCM group of companies, with the main focus of identifying, evaluating and investing in opportunities ranging from Series B to pre-IPO in the private sector. | | | | Corporate Associate Members | | | | Globalization Partners Limited | | Globalization Partners enables companies to quickly and easily expand internationally across six continents and 187 countries. Our global Employer of Record (EOR) model allows companies to hire employees in as little as 12 hours without having to navigate complex international legal, tax, and HR issues. When companies find top talent, that team member is put on our locally compliant payroll. We have teams and offices worldwide with global headquarters located in Boston and California and regional headquarters in London, Ireland, Singapore and Dubai. Globalization partners is Privacy Shield certified for HR data, and has consistently attained 97% customer satisfaction ratings by making it easy for companies to go global. | | |
| | | | Event Reports | | | | 网络研讨会: 中国证监会对A股上市公司的股东披露指引 | | 2021年5月27日 |  | 香港创业及私募投资协会于2021年5月20日就近期中国证监会提出的股东披露要求这一主题举办了一场网络研讨会。该研讨会属于技术网络研讨会系列的一部分，逾60人参与，广受欢迎。
香港创业及私募投资协会技术委员会主席、新程投资合伙人兼首席运营官卢心慧联合金杜律师事务所驻广州合伙人王建学以及该所驻北京资深律师王浩霖共同献言。
演讲嘉宾指出，新的指引已于2021年2月25日生效，旨在解决股权委托安排、首次公开募股前的意外投资、以及异常购入价格等问题，同时还讨论了对境外股东披露的要求，并举出了最近一个涉及88位承诺出资的有限合伙人的私募股权基金案例进一步说明。发行人在首次公开募股招股书中列出了前十大有限合伙人的所有权、其业务性质、以及一份基金结构和基本交易信息的概要。演讲嘉宾还提醒，现在于申请期间，有限合伙人的声明书以及其他相关文件也需要提供。
香港创业及私募投资协会衷心感谢所有与会者以及金杜律师事务所的慷慨赞助。同时还要感谢主持了本次活动的卢心慧以及参与献言的所有演讲嘉宾。 | | | | Webinar: HELP! There's fraud! Now what? The lifespan of a global fraud and asset tracing claim | | May 25, 2021 |  | The HKVCA held a webinar on May 25, 2021, examining the many issues that arise around global fraud and asset tracing claims. The Association received more than 90 registrations for the much-anticipated event.
Moderated by Eddie Middleton, Managing Director at Alvarez & Marsal, he was joined by three other managing directors from his firm - Daniel Barton, Davin Teo and Keith Williamson. Also participating as speakers were lawyers from Mourant Ozannes - Partner Justine Lau and Senior Associate Jennifer White.
Among the issues discussed were the investigation of fraud and in which jurisdiction proceedings should be commenced; identifying and tracing the movement of assets; the importance of recovering electronic footprints; and the evidential burden. The attendees were also entertained by Daniel Barton who recounted cases he was involved in that dealt with the Russian authorities and agencies during actual investigations.
The HKVCA extends its sincere thanks to all the attendees as well as to Alvarez & Marsal and Mourant Ozannes for their generous sponsorship. Special thanks also to Eddie Middleton and to each of the expert speakers for their participation. | | | | Webinar: CSRC’s guidelines for shareholder disclosure of A-share listed companies | | May 20, 2021 |  | The recent shareholder disclosure requirements introduced by the CSRC was the topic of an HKVCA webinar held on May 20, 2021. Part of the Association’s series of technical webinars, the event proved to be immensely popular with more than 60 people registering to attend.
HKVCA Technical Committee Chairman Bonnie Lo, Partner and COO at NewQuest Capital Partners, was joined by Jianxue Wang, a partner at law firm King & Wood Mallesons in Guangzhou, and Haolin Wang, a senior associate at the firm’s office in Beijing.
The speakers noted that the new guidelines, which came into effect on February 25, 2021, are aimed at addressing such issues as shareholding entrustment arrangements; unexpected pre-IPO investments; and abnormal purchase pricing. Also discussed were the requirements for overseas shareholder disclosures, referring to a recent case as illustrative which involved a private equity fund with 88 committed LPs. The issuer listed the ownership of the top 10 LPs, the nature of its business and a summary of the fund structure and basic transaction information in the IPO prospectus. Speakers were reminded that the LPs’ declaration letter and other documentation is now required during the application status.
The HKVCA would like to thank all the attendees and King & Wood Mallesons for their generous sponsorship. Our thanks also to Bonnie Lo for hosting the event and the speakers for their participation. | | | | Webinar: Asia regulatory roadmap | | May 17, 2021 |  | The HKVCA held a webinar on May 17, 2021 addressing the most recent regulatory developments affecting private equity and venture capital fund managers in Asia. With both Hong Kong and Singapore introducing a number of new regulations impacting the industry, the HKVCA invited partners James Ford and Charlotte Robins from the Hong Kong office of international law firm Allen & Overy, and partner Shuhui Kwok from the firm’s Singapore office, to update participants on the most recent changes.
In addition to providing an overview of Asian regulations in the private fund sector, the speakers also discussed changes around electronic cloud storage, dealing with the threat of cyberattacks, AML/CFT procedures involving digital assets, fund structures, as well as ESG.
More than 65 people registered for the event. The HKVCA extends its sincere thanks to all of the participants, and in particular to our speakers. | | |
| | | | Industry News | | | | China university startups: Campus creativity | | May 26, 2021 | | (AVCJ by Larissa Ku) - One otherwise lazy weekend morning, several main roads at Hong Kong University of Science & Technology (HKUST) are blocked off so a self-driving car can do test runs. Meanwhile, the indoor swimming pool is being used for experiments involving underwater robots. Even on campus, startups never sleep... | | (link to the full article) | | | | Animoca Brands raises $88 million at $1 billion valuation to capitalize on game NFTs | | May 13, 2021 | | (VentureBeat by Dean Takahashi) - Animoca Brands has raised $88 million at a $1 billion valuation to capitalize on its plan to combine games and rare digital items via nonfungible tokens (NFTs)... | | (link to the full article) | | | | U.K. backs Top Tier’s new $314 million Europe venture Fund | | May 13, 2021 | | (Bloomberg by Ivan Levingston) - Britain’s government has helped Top Tier Capital Partners raise nearly 260 million euros ($314 million) for a fund dedicated to venture capital and startups in Europe, where funding for local tech companies is soaring... | | (link to the full article) | | | | 私募發展 再下一城 (Chinese only) | | May 2, 2021 | | (FSTB by Chris Hui) - 立法會剛在周三通過了《2021年稅務（修訂）（附帶權益的稅務寬減）條例草案》，標誌了香港在發展成為私募基金樞紐的進程中再下一城。如早前闡述，政府在這方面有「三步曲」策略，第一步是去年八月引入的有限合夥基金制度，在短短八個月內已吸引了超過二百個基金註冊，足證香港金融基因和新制度的吸引力。這次通過的《條例草案》為第二步，將為合資格私募基金所分發的附帶權益（carried interest），即與投資表現掛鈎的積效分成，提供利得稅及薪俸稅寬免。我們亦已計劃了第三步，考慮推出制度及措施，吸引更多已在海外成立的基金「搬遷」到香港落戶... | | (link to the full article) | | | | Hong Kong gives funds tax concession to bolster finance center | | April 28, 2021 | | (Bloomberg by Lulu Yilun Chen) - Hong Kong passed a tax concession bill for funds to bolster its competitiveness as an investment management hub... | | (link to the full article) | | | | E-commerce tracking platform Aftership raises $66M led by Tiger Global | | April 23, 2021 | | (TechCrunch by Catherine Shu) - AfterShip launched in 2012 to help online sellers track packages across different carriers, but since then it has built a suite of data analytics tools covering almost every step of the shopping experience, from email marketing to customer retention. The Hong Kong-headquartered startup announced today it has raised a $66 million Series B led by Tiger Global, with participation from Hillhouse Capital’s GL Ventures... | | (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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