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Recent Events Report

HKVCA Luncheon Talk on Crowdfunding
31 August 2016  
   

     
A luncheon talk on crowdfunding, featuring speakers from Davis Polk and City University of Hong Kong (CUHK), was held on 31 August 2016 at the China Club. With close to 60 people in attendance, the event proved to be extremely popular with members. James Lin from Davis Polk and Professor David Donald from CUHK discussed the general concepts behind the idea of crowdfunding and recent US Securities and Exchange regulations that have gone into effect regulating how crowdfunding is conducted. The speakers also examined the types of crowdfunding platforms available; its growing popularity among investors; and how crowdfunding for SMEs might work in Hong Kong.  
     
We would like to thank to our extremely knowledgeable speakers and offer a special thanks to our sponsor, Davis Polk, whose support made this event possible. 
      
HKVCA LP Luncheon
26 August 2016  
     

     
The HKVCA’s LP Committee hosted its latest LP only luncheon on 26 August 2016 at the China Club. Shirley Xie, Partner at PwC, spoke on what she believes are the major issues related to Chinese VC fund valuation in a cooling environment. More specifically, she discussed how an advisor deals with a “stale” previous round valuation that may have taken place more than a year prior; the performance metrics advisors should seek in addition to the last round financial valuation; how an advisor determines when a company’s mark requires a write-down; the greatest area of tension between auditors and venture capital GP’s with respect to 2015 year-end valuations; lagged recognition of write-downs or write-offs on venture funds at year-end 2015; the practicality of implementing “liquidation preference” for deteriorating portfolio companies; the degree of liquidity discount on domestically listed companies; and valuing companies in the process of a back-door listing through a listed shell.
    
The HKVCA and the LP Committee were especially pleased that nearly 20 LP representatives were able to find time from their busy schedules to attend the lunch and to network with their colleagues. We would like to thank all the participants who helped to make this event a great success. 

HKVCA Luncheon Talk
5 August 2016  
    

     
A luncheon talk with speaker from KPMG China and Clifford Chance was held on 5 August 2016 at the China Club. Over 60 attendees had participated this tremendous seminar. The topic of talk was “Brexit: The impact on Asian GPs and LPs”, and the speakers – Mr. Andrew Weir from KPMG China and Mr. Matthias Feldmann from Clifford Chance together with the moderator – Mr. John Levack, Vice Chairman of HKVCA outlined and provided their insight and analysis of the likely short and long-term impact on the private fund industry of Brexit: the impact on investment landscape and portfolio management, in particular for those with UK and European businesses; the impact on fundraising and the tax implications. We would like to express our sincere thanks to our extremely knowledgeable speakers and offer special thanks to our sponsor, KPMG, whose support made the event possible and extremely successful.

HKVCA YP Mixer
21 July 2016  
           

     
The HKVCA’s Young Professional Committee held a mixer event on July 21, 2016 at the K-Pocha Bar in Lan Kwai Fong. This popular event, which has always provided attendees with valuable networking opportunities in a fun and social setting, is aimed specifically at our younger members. More than 50 young professionals participated, representing a broad range of sectors from within the private equity and venture capital industries.
  
HKVCA ESG Luncheon Talk
11 July 2016  
        

     
A luncheon talk on the topic of managing ESG from a GP’s perspective was held on 11 July, 2016 at the China Club. Over 50 attendees participated in this successful event. The speakers - Joseph Wan from Cinven HK, Alvin Lam from CVC Capital Partners and Hannah Routh from PwC - addressed the issues of how to define a firm-wide ESG policy and how to incorporate ESG into the actual investment process. This has become all the more important given that institutional investors are increasingly supporting its implementation in the belief it can enhance returns rather than restrict them. We would like to thank our knowledgeable speakers and offer our special thanks to our sponsor, PwC, whose support made this event possible.    

HKVCA Breakfast Meeting
8 July 2016   
        

     
The HKVCA’s monthly breakfast meeting was held at the Hong Kong Club on 8 July, 2016. Hosted by our Vice Chairman, John Levack, the event was once again substantially oversubscribed and, as has been the case in previous months, proved to be an extremely popular activity for our members. Close to 70 persons attended, allowing them to take full advantage of this valuable opportunity for networking and for reconnecting with their 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 popular event such a success.    

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