 | | HKVCA Asia Venture Capital Forum (AVCF) 2021 | |  | The HKVCA’s Asia Venture Capital Forum (AVCF) was held on Tuesday, July 6, 2021. This was the second year in a row the event was held in a largely virtual format and we were very excited to have had more than 500 people, including both PE and VC practitioners, register from locations around the world.
The half-day event featured a four-hour long program that included four fireside chats, five panel discussions and a special presentation on advanced medtech adoption by Hong Kong’s Hospital Authority. Discussions covered venture investment topics such as foodtech, regtech, SPACs and telemedicine. Limited partners and single family offices shared their views on recent opportunities and challenges. Asian unicorns and corporate ventures discussed success metrics and experiences, among other issues, and there was a focus on the most recent regulatory updates, especially around ESG.
We are very grateful to Cyberport and the Hong Kong Science and Technology Park for co-hosting the event. We would also like to thank our sponsors, specifically Citi and KPMG, our Platinum Sponsors; Arbor Ventures and Globalization Partners, our Venture Sponsors; and Clifford Chance, our Fireside Chat Sponsor. The continued loyalty of our sponsors is what has made this Forum possible. Of course, our thanks to all the speakers and attendees for their participation. We are also grateful for the patience and understanding of the participants for any technical glitches they may have experienced, and thank everyone for joining us this year for what proved be a successful event. |  |
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| | | | Limited registrations available |  | | Global Private Equity Barometer Summer 2021 | | Will Yea, an investment principal at Coller Capital, will present the key findings of the firm’s LP survey detailing the latest worldwide trends in private equity. The focus of this webinar will be on the mega-trends influencing private equity allocations and the risks to returns; the effect of ESG policy on PE returns; and secondary investment strategies and private credit, along with a number of other key trends and themes that continue to shape the industry. | | Speakers: |  | William Yea
Principal,
Coller Capital |  | | | Date: | July 21, 2021 (Wednesday) | | Time: | 13:00 - 14:00 (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.
#To avoid technical problems registrants should log in to Zoom webinars using the email address they provided when registering for the event. | | Registration deadline: July 20, 2021 |   |
|  | | 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 | | Group discount
Register in a group of 2 from the same company and enjoy a 10% discount.
Register in a group of 3 or more from the same company and enjoy a 20% 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). |
*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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| | | Pickupp completes follow up Series A funding led by PChome, Cornerstone Ventures
July 5, 2021
(Digital News Asia by Staff Writer) - PICKUPP, the on-demand delivery and tech startup, announced it has raised approximately US$15 million (RM62.3 mil) in Series A and Series A+ financing from regional investors, after its first investment round in November 2020... | Animoca Brands completes funding round with an additional $50M raised
July 1, 2021
(VentureBeat by Dean Takahashi) - Animoca Brands, the company bringing digital property rights to gamers via nonfungible tokens (NFTs), raised another $50 million today, bringing its latest funding round to $138.88 million... | Hong Kong’s Adrian Cheng targets millennials by investing in tech accessories brand Casetify
June 30, 2021
(Forbes by Zinnia Lee) - C Ventures, the venture capital firm founded by Adrian Cheng, said that it made an eight-figure USD investment in tech accessories brand Casetify, marking the Hong Kong-based company’s first-ever external funding since it was founded in 2011... | KKR and TIGA Investments to acquire The Executive Centre
June 1, 2021
(Press Release) - The Executive Centre (TEC), KKR and TIGA Investments today announced the signing of definitive agreements under which a consortium led by KKR and TIGA Investments will acquire TEC... | | More news in Industry News | | | | HKVCA Research Journal - Eighth Issue |  | | Click here to download the journal. | | |
| | | New Members | | | | Overseas Full Members | | | | AlleyCorp | | | | Anxa Holding Pte. Ltd. | | Anxa Holding Pte Ltd is an investment holding company based in Singapore and focusing on early-stage venture capital investments. | | | | Nuance Capital Limited | | Nuance Connected Capital is an early-stage New Zealand VC fund focusing on deep tech, science and innovation that either helps the planet or improves people’s lives. In addition to bringing founder-friendly, on-shore follow-on capital to Kiwi entrepreneurs, all our LPs are large family offices/ business owners across the globe which gives Nuance access to deep international industry networks to help our portfolio companies scale up and drive exits. | | | | United X Capital | | | | Corporate Associate Members | | | | AlixPartners Hong Kong Limited | | AlixPartners is a results-driven global consulting firm that specializes in helping businesses successfully address their most complex and critical challenges. Our clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981, AlixPartners is headquartered in New York, and has offices in more than 20 cities around the world. | | | | Cooley LLP | | Cooley LLP is an international law firm representing clients in a wide range of industries. With more than 1,200 lawyers across 17 offices in Asia, Europe and the United States, the firm represents more than 6,000 high-growth new economy companies, more than 500 venture fund families and closes over 2,000 venture and growth investments per year. In Asia, Cooley has offices in Beijing, Shanghai, Hong Kong and Singapore, and is recognized for its technology, life sciences and venture capital practices. The firm represent some of Asia’s most innovative and dynamic companies and leading investors, advising on financing, M&As and joint ventures, IPOs and other strategic transactions at all stages of growth. | | |
| | | | Event Reports | | | | Webinar: The digitalization revolution and what this means for the industry | | June 30, 2021 |  | The digitalization revolution and the latest trends in fintech was the topic of an HKVCA webinar held on June 30, 2021. Close to 90 people registered for the event, which featured a fireside chat hosted by Danny Lee, a partner at Blue Pool Capital, joined by Melissa Guzy, Founder and Managing Partner at Arbor Venture.
Much of the discussion focused on the incredible pace of digitalization spurred by the COVID-19 pandemic and how fintech is working to reshape the world in terms of how humans interact. Guzy noted in particular the application of technology to the financial industry, including blockchain, AI and big data, and the latest e-payment technologies, including mobile payments, central bank digital currencies and consumer-centric repayments. Also highlighted was the importance of strategic partnerships between investors, portfolio companies and clients, with these types of partnerships actually laying the groundwork for increases in scale.
The HKVCA extends its sincere thanks to all of the attendees, and especially to Danny Lee and Melissa Guzy, for supporting the event. | | | | Webinar: Navigating PE investments in FIG businesses | | June 16, 2021 |  | Mark Shipman, Vice Chair of the HKVCA’s Technical Committee and a partner at international law firm Clifford Chance, hosted an HKVCA webinar that discussed the issues around navigating private equity investments in FIG businesses. Held on June 16, 2021, more than 90 people registered for the event.
Joined by fellow Clifford Chance Partner Bryan Koo and senior associates Vivian Kwong and Ryan Wong, the webinar examined key corporate M&A issues when acquiring FIGs and discussed the different categories of FIG businesses and investment trends in Asia. The speakers also cautioned the attendees to be mindful of legal due diligence issues, common condition precedents, and regulatory considerations for FIG acquisitions. There was an emphasis on the importance of gaining approval and notifying local regulators ahead of closing a deal. The speakers also noted the need to get clients’ consent when transferring customer accounts.
The HKVCA thanks Clifford Chance for sponsoring the event, and extends its gratitude to the speakers and participants, especially to Mark Shipman for his services as host. | | | | Webinar: Typical issues and tactics for handling private equity disputes | | June 8, 2021 |  | The HKVCA held another in its ongoing series of webinars on June 8, 2021. With close to 90 people registered for the event, the topic under discussion centered around disputes that arise in private equity and the various tactics that can be pursued in order to best handle them.
Mark Johnson, a partner at Debevoise & Plimpton LLP, led the discussion and was joined by other members of the firm - partner Gavin Anderson; Ralph Sellar, International Counsel; and two associates, Cameron Sim and Tiffany Chan.
The topics included an examination of the trends around PE disputes at the fund and portfolio level, including an actual case involving a recent dispute and the tactics adopted on behalf of the client. The speakers also addressed the difference between arbitration and litigation and the costs of bringing disputes to court, and offered advice on potential issues for Hong Kong-regulated PE managers and portfolio-level disputes. Also noted was the fact that how an investment was structured was likely have an impact on the complexity of litigation and that parties should prepare a checklist prior to commencing legal action.
The HKVCA offers its thanks to all the attendees, to Debevoise & Plimpton LLP for their generous sponsorship, and to each of the speakers for their participation. | | | | Webinar: Post-pandemic thoughts- overseas family offices and Asia investments | | June 3, 2021 |  | The approach to Asian investment post-pandemic was the topic of the HKVCA’s second family office-focused webinar held this year. More than 120 people registered to attend, making it among the most popular and in demand HKVCA webinars in 2021.
HKVCA President KO Chia was joined on the speaker panel by Danny Lee, a partner at Blue Pool Capital, and Jamie Cayzer-Colvin, Executive Director at Caledonia Investments. The speakers all agreed that they were optimistic about private investment in China and also expected the Southeast Asia market to show significant growth in the next decade. They sounded a more cautious note on India, however, which they said continued to have issues around access to quality education.
Both Lee and Cayzer-Colvin were bullish on the digitization revolution and the application of technology to businesses and financial segments resulting in greater cost effectiveness. While the healthcare sector remained an attractive investment, investors were advised to be mindful when deploying capital to pharmaceutical companies selling drugs in China as they are subject to government-guided pricing.
There was also discussion on the role of family offices generally in terms of preserving wealth and the maintenance of lifestyle. However, there was much encouragement around family offices having a “statement of purpose” in addition to financial returns. There should be work life balance for staff, which is a culture that comes from the top down. Likewise, there was a recognition that family offices needed to have greater gender balance and it was important to encourage more women to become involved in the management of family businesses and wealth.
The HKVCA extends its sincere thanks to all the attendees and to each of the speakers. Special thanks also to Danny Lee who has agreed to be the new chairman of the HKVCA’s Family Office Committee. | | | | | | Contact us at +852-2167-7518 or hkvca@hkvca.com.hk
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