| Dear Colleagues,
Our warmest 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, 2017.
As I am sure you are aware, the past year has been hugely successful for the HKVCA, having experienced robust growth both in terms of membership numbers as well as the success and scale of our events. Our membership now stands at more than 360 professional firms, representing practitioners across the full spectrum of private capital markets. We remain fully committed to extending our reach to all sectors of the profession, solidifying our position as the one umbrella organization best able to serve the interests and further the aspirations of our diverse and vital industry.
The HKVCA continues to offer a very full and active calendar of events, ranging from high profile international conferences and industry-relevant lectures, to formal training programs and social events. And as always we recognize the important role that networking plays in our profession, hosting regular and frequent opportunities for our members to meet not only their peers, but government representatives and professional colleagues from other industry associations across the globe. We are confident that you will continue to find incredible value in the programs scheduled throughout 2017.
At the same time, the HKVCA also provides an immensely valuable platform for lobbying the government on behalf of our profession, helping to protect the interests of the private equity and venture capital community and positively impact the region’s regulatory and business environment. We are the recognized voice of our industry through ongoing lobbying efforts, collaborating with other professional associations when required so as to provide a unified message on issues affecting the fund management sector in Hong Kong.
We appreciate your continued involvement in the HKVCA and are delighted to offer an incentive for your prompt membership renewal. Renewal letters with accompanying invoices have recently been sent to all members and we invite you to promptly renew your membership, providing essential support to the work of your Association.
For further inquiries, please contact Joanne Yuen or Shire Xie at sxie@hkvca.com.hk.
We look forward to seeing you at the Association’s upcoming events and thank you for your continuing commitment.
Yours sincerely,
Eric Mason
Chairman, Hong Kong Venture Capital and Private Equity Association
Managing Director - Asia Investments, The Church Pension Fund
| | HKVCA Christmas Cocktail 2016 | | | On the evening of Thursday, 8th December, the HKVCA held its annual Christmas cocktail party at the prestigious China Club. In attendance were professionals representing all sectors of our industry, and it was no exaggeration to say the party was an enormously festive and celebratory affair.
We were especially pleased to have recently elected HKVCA Vice Chairman, Rebecca Xu, of Asia Alternatives Advisor Hong Kong, join us for the evening, and we would like to thank her and our sponsors, Latham Watkins and Ascent Partners, for their generous support. Finally, the HKVCA would like to thank all who attended this great networking event and who helped make the evening a most joyous affair.
| | _ | Members Only Event
 | | HKVCA Members Breakfast Meeting - January | | Sponsored by |  | | Date: | 6 January, 2017 (Fri) | | Time: | 8:00 - 9:00 | | Venue: | Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, HK | | (Room reserved under the name of Mr. Johnny Chan) | | Fee*: | Full Member (Corporate): one free pass per company | | *Note, free pass no shows will be charged full price | | Associate Member/ Full Member (additional pass): HK$280 | | *An additional charge may apply to accommodate special dietary requests. | |  
| | Limited Seats Available | Members Only Event |  | | Cocktail Sponsors: |   | | Date: | 17 January, 2017 (Tue) | | Time: | 18:30 - 21:30 | | Venue: | The Hong Kong Country Club | | Fee: | Early bird rate (payment on or before 9 December 2016) | | Full table (12 persons): HK$19,800 | | Half table (6 persons): HK$9,900 | | Individual: HK$1,980 | | | | | Photos can be viewed here for Gala Dinner 2016 | | | | Please return your completed registration form to Kamy Chan (kamy@hkvca.com.hk). |
|  | | Platinum Sponsors |  |  |  |  | | Gold Sponsors | | |  |  | | Silver Sponsors | | | | | | Date: | 18 January, 2017 (Wed) | | Time: | 8:30 - 17:30 (followed by cocktail reception) | | Venue: | S421, Hong Kong Convention and Exhibition Centre (Old Wing), | | 1 Expo Drive, Wan Chai, Hong Kong | | Fee: | Early bird rate (payment deadline: 9 December 2016) | | Corporate Full Member: One free pass per company | | Corporate Full Member (Additional Pass) / Corporate Associate Members: HK$3,300 HK$4,500 per person | | Overseas Full / Associate Members:
HK$3,300 HK$4,500 per person | | Non-Member: HK$6,800 HK$7,800 per person | | CPT: | 6.5 points | |
| | Limited Seats Available |  | | HKVCA Annual Golf Day 2017 | | Platinum Sponsors | | | | Gold Sponsors | Breakfast Sponsor | Wine Sponsor |  |  |  |  | | Date: | 3 March, 2017 (Fri) | | Time: | 7:15 Check-in and breakfast | | 8:15 Shortgun start | | Venue: | The HK Golf Club (Fanling) | | Fee: | Early Bird Rate (Payment by 9 December 2016) | | HKVCA Member: HK$2,600 HK$2,900 | | Non-Member: HK$3,500 HK$3,800 | | *fee inclusive of golf cart, light breakfast and lunch | | | | Please return the completed registration form to Kamy Chan (kamy@hkvca.com.hk). |
| | Upcoming HKVCA Events in 2017:
 | HKVCA Supporting Events:
8th Global PE Beijing Forum
10 December 2016
13th China International Finance Forum
15-16 December 2016 |
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New Members Welcome
Corporate Full Members
Blue Pool Capital Limited
Blue Pool Capital Limited is a multi-strategy investment firm based in Hong Kong. The firm invests globally in all the major asset classes including public and private equity and real estate globally. The firm is owned by the management and manages the assets of the management and a group of close-knit long term investors.
China Minsheng Financial Holding Corporation Limited
China Minsheng Financial Holding Corporation Limited (CMFH) is an investment holding company focusing on proprietary investment and financial services. Its main subsidiaries, CM Securities (Hongkong) Company Limited and CM Asset Management (Hongkong) Company Limited, provide financial services of Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance in Hong Kong. Going forward，CMFH will build itself into an international financial services platform covering internet finance, leasing, insurance, private banking and internet technologies and platforms.
Q Venture Partners
Q Venture Partners identifies and invests in early stage companies focusing on the Internet of Things (IoT).
Corporate Associate Member
East West Bank
East West Bank has achieved success as a bank focusing on the United States and Greater China markets. Our understanding of cultural and business practices on both sides of the Pacific is enabling a new generation of customers to seamlessly scale their business and investment opportunities between East and West.
Overseas Full Member
Hangzhou Shenxuan Investment Management Ltd
Hangzhou Shenxuan Investment Management Ltd. is a newly established family office focusing on angel investments, early stage VC and Fund of Funds in Hangzhou, China. We would like to explore cross-border VC investment through Hong Kong.
Recent Events Report
HKVCA Brownbag Luncheon Talk
30 November 2016
The HKVCA hosted its latest brownbag luncheon talk on 30 November 2016 at the law office of Shearman & Sterling. Lorna Chen, a partner at the law firm, discussed the latest updates and major trends related to the regulation of investment fund managers by the US Securities and Exchange Committee (SEC). Chen also offered her thoughts on how best to handle the latest regulations and the SEC’s recent focus on the allocation of fees and expenses and on record keeping. Finally, she gave a number of timely examples of case studies that served to illustrate the practical issues that may arise for investment fund managers operating in the current environment.
The HKVCA and the Education Committee were very pleased that so many members were able to take the time from their busy schedules to attend the lunch and network with their colleagues. We would like to thank all the participants, and especially our sponsor, Shearman & Sterling, whose support made this event possible.
HKVCA YP Mixer - Charity Fundraising Beer Pong Competition
24 November 2016
The HKVCA’s annual Charity Fundraising Beer Pong Competition, organized by the Young Professionals Committee, was held on November 24, 2016 at the sensational LEVELS bar in Lan Kwai Fong. Sixteen teams entered the competition, with the team from Forebright Capital emerging as the overall winner, while the team representing KPMG were runners-up.
The evening proved to be a great success with more than HK$30,000 raised for Mother’s Choice, a Hong Kong charity that leads the way creating awareness within the community and changing thoughts, attitudes and policies related to adoption, crises pregnancies and special needs children. The cheque was presented by John Levack, Vice Chairman of HKVCA, to Joseph Wan, Member of Fundraising Committee of Mother's Choice, on 8th December 2016. The HKVCA would also like to extend its most sincere appreciation to the sponsor of this event, Hennessy Creative, and to the more than 100 participants who together made this very special event an evening to remember.
HKVCA Fundraising Masterclass
18 November 2016
The HKVCA’s Fundraising Masterclass, part of our mid-level training syllabus aimed at providing in-depth practical learning of fundraising techniques and structures for professionals seeking to deliver presentations and proposals to institutional investors, was held on 18 November, 2016 at the HKUST Business School in Central. The event, which featured a full and informative discussion, was focused on training intermediate to senior level professionals across Asia. Our featured speakers were Mounir Guen, CEO of MVision; Dennis Kwan, Managing Director of MVision; and Justin Dolling and Carol Liu, both partners at Kirkland & Ellis. Among the topics examined were the global capital market for private equity funds; the pros and cons of the role played by placement agents; the key factors to consider when going to market with a fund; and how a manager can make the most out of an in-person pitch. We would like to once again thank our speakers and also our venue provider, HKUST Business school, whose support made this worthwhile event possible.
HKVCA LP Luncheon
11 November 2016
The HKVCA’s LP Committee hosted its latest LP only luncheon on 11 November 2016 at the HKEx Boardroom. Rocky Lee, Asia Managing Partner at CWT, discussed what he believes are the major current issues related to VC financing, structuring and its enforcement; and how ratchets, preferred return, liquidation preference and other common features of financing structures have worked to date in a down-round: how often they are implemented rather than renegotiated; the major differences in VC structuring terms and their implementation in the US versus China when the venture market cools; and the conflicts and disagreements among VC shareholders who have entered in different rounds, and how this has played out for founders and the different shareholders.
The HKVCA and the LP Committee were especially pleased that more than 20 LP representatives took time from their busy schedules to attend the lunch and network with their colleagues. We would like to thank all the participants, especially our sponsor, CWT, whose support made the event possible.
HKVCA Breakfast Meeting
4 November 2016
The HKVCA’s monthly breakfast meeting was held at the Hong Kong Club on 4 November, 2016. This was the Association’s last breakfast meeting of the year, and as has been the case in previous months, it was significantly oversubscribed, proving once again to be among our most popular activities for our members. Hosted by our Chairman, Eric Mason, members took full advantage of this valuable opportunity for networking and connecting with industry peers and fellow practitioners. We would like to thank each of our members for their enthusiastic participation as well as our sponsor, FTI Consulting, for making this event such a success.
Industry News
500 Startups Rui Ma to set up FoF 5 December 2016
(DealStreetAsia by Tanu Pandey) - Silicon Valley-based venture capital firm 500 Startups has witnessed the departure of its Greater China Partner Rui Ma who is learnt to have set up her own fund-of funds. Rui who recruited and trained savvy and resourceful startup operatives for 500 Startups in Greater China, had an updated Linkedin profile on Monday where she had announced about “New Unnamed Project — fund-of-funds.” According to reports, the fund will target managers specialising in angel and seed-stage rounds for Silicon Valley-based startups. Rui has earlier worked at corporations such as Merrill Lynch, Morgan Stanley,
View full article here XIO Group buys Meitav Dash for NIS 1.48b 4 December 2016
(Globes) - Meitav Dash CEO Ilan Raviv, chairman Zvi Stepak and vice chairman Avner Stepak will remain in their jobs.
Meitav Dash Investments Ltd. (TASE: MTDS) notified the Tel Aviv Stock Exchange that it has been acquired by London-based private equity company XIO Group for NIS 1.48 billion.
Meitav-Dash, controlled by Zvi Stepak and Eli Barkat's BRM Group, is Israel's second largest investment house with NIS 122 billion under management. View full article here IFM opens up shop in Hong Kong 30 November 2016
(The New Daily by Rod Myer) - IFM Investors has broadened its global footprint by opening an office in Hong Kong.
IFM Investors chief executive Brett Himbury says a presence in Hong Kong will allow the firm to increasingly meet the global appetite of institutional investors and broaden it’s global presence.
“Our investors are increasingly seeking opportunities in Asia and an office in Hong Kong will allow us to continue to globalise our investment capabilities. We will work closely with regulators and professional investors in Hong Kong to meet regulatory requirements and investor needs.” View full article here Growth markets investor Actis sets up shop in Hong Kong 30 November 2016
(Asia Asset Management by David Macfarlane) - UK-headquartered growth markets investor Actis has set up a new office in Hong Kong and announced it will be headed up by Pamela Fang, the head of its investor development group (IDG) in Asia.
Focussing mainly on investor relations and client services in the Asia-Pacific region, the new office will complement Actis’ existing operation in Beijing. The firm now handles its entire global capital-raising capabilities in-house, and the opening of the Hong Kong office follows recent senior IDG appointments in New York and London. View full article here
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