  | | | | | | | Limited Seats Available | 
 |  |  | | Date | Time | Session | CPT/CPD | | 11 October | 11:00 – 14:30 | Module 6: Tax/ Fundraising | 3 | | 25 October | 14:00 – 17:15 | Case Studies: Pacific Coffee & CVC/HKBN | 3 | | | Module 6: Tax / Fundraising (KPMG Office)
11 October (Wed) | 11:00 - 14:30 | | Module 6 is sponsored by |  |
| - Understanding the Accounting of Private Equity Funds
| Arion Yiu
KPMG Hong Kong | | | Dennis Kwan
MVision | Jonathan Lee
MVision | - Tax Considerations in Structuring PE funds
| Malcolm Prebble
KPMG China | Case Studies: Pacific Coffee & CVC/Hong Kong Broadband (HKUST)
25 October (Wed) | 14:00 - 15:30 & 15:45 - 17:15 | - Pacific Coffee: Evolution of Business through PE Investment Rounds
| Roger King
HKUST | Winnie Peng
HKUST | | Oscar Chow
Polaris Holdings | - CVC/Hong Kong Broadband: From MBO to IPO in < 3 Years
| Alvin Lam
CVC Capital Partners | NiQ Lai
Hong Kong Broadband Network | Roger King
HKUST | Winnie Peng
HKUST |
| | Venue: | Hong Kong University of Science and Technology (HKUST):
HKUST Business School Central, 15/F, HK Club Building, Central, HK | | KPMG Office:
8th Floor, Prince’s Building, 10 Chater Road, Central, HK | | | | | View all speakers here. | | Register in a group of two (2) or more from the same company and enjoy a 10% discount. | | HKVCA Member | Non-Member | | Per Module | HK$1,300 | HK$2,600 | | Case Studies | HK$1,300 | HK$2,600 | | | | | Limited Seats Available | | Members Only Event |  |
|  | HKVCA Luncheon Talk:
Regulation of Hong Kong PE managers under the Security and Futures Ordinance | | Sponsored by |  | | Speaker: | Anne-Marie Godfrey, Partner, Akin Gump Struss Hauer & Feld | | | | Date: | 31 October, 2017 (Tue) | | Time: | 12:30 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, | | 1 Bank Street, Central, HK | | Fee*: | Corporate Full Member | Non Member | | One FREE pass per company
HK$450 per additional person
| HK$800 per person | | Corporate Associate/Overseas (Full/Assoc) Member | | HK$450 per person | | | | CPT: | 1 points | | | |
| | Members Only Event |  | | HKVCA Members Breakfast Meeting | | Sponsored by | | | Date: | 3 November, 2017 (Fri) | | Time: | 8:00 - 9:00 | | Venue: | Harcourt 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$300 | | *An additional charge may apply to accommodate special dietary requests. | |   |
|  | HKVCA Seminar with Cocktails:
Private Equity Transformation Enabled by
Robotic Process Automation (RPA) and other Recent Developments | | Sponsored by |  | | Speakers: | David Chan, Managing Partner, Tax Hong Kong and Macau, EY | | Henry Lacey, Partner, Transaction Advisory Services, EY | | Karen Ko, Director, Transaction Advisory Services, EY | | Anish Benara, Director, Financial Services Tax, EY | | View speakers' bio here. | | | | Date: | 9 November, 2017 (Thur) | | Time: | 16:00 - 17:30 (followed by a cocktail reception) | | Venue: | EY Office, 22/F CITIC Tower, 1 Tim Mei Avenue Central, Hong Kong | | Fee: | Corporate Full Member | Non Member | | One FREE pass per company
HK$200 per additional person | HK$400 per person | | | | Corporate Associate/Overseas (Full/Assoc) Member | | HK$200 per person | | | | CPT: | 1.5 points | | | | | |
| |  | HKVCA Brownbag Luncheon Talk:
International Cybercrime: The Law Enforcement Dimension | | Speaker: | Ron Cheng, Partner, O'Melveny & Myers | | View Speakers' bio here. | | Date: | 17 November, 2017 (Fri) | | Time: | 12:30 - 14:00 | | Venue: | O'Melveny & Myers Office, 31/F, AIA Central, | | 1 Connaught Road Central, HK | | Fee*: | Corporate Full Member | Non Member | | One FREE pass per company
HK$200 per additional person
| HK$400 per person | | Corporate Associate/Overseas (Full/Assoc) Member | | HK$200 per person | | | | *Fee inclusive of a light lunch | | | | CPT: | 1.5 points | | | | | |
| |  | | | The HKVCA is launching its inaugural ESG Award of Excellence, the first in Asia, to recognize significant environmental, social and governance (ESG) related initiatives and achievements in Asian PE/VC-backed companies.
ESG improvement encompasses a wide range of areas, including but not limited to energy efficiency, pollution reduction, waste management, preservation and recycling of natural material, green initiatives, waste reduction, employee safety and welfare, supply chain quality control, customer protection, cybersecurity, community relations, governance structure, board effectiveness, accounting and reporting standards. ESG initiatives are often taken to address an existing problem or weakness. At other times, such initiatives are designed to create brand differentiation, or go hand-in-hand with a productivity or efficiency improvement projects. ESG work is part and parcel of the risk management and value creation activities brought by the PE/VC’s hands-on investment model.
Who are eligible?
If you are - an Asian PE or VC firm, or the Asian arm of a US or European firm, and
- you have an Asia-based investee company currently in the portfolio or was exited during 2017, where the ESG work that you have initiated makes a compelling case study,
then you are eligible to submit an entry.
How to Enter
Please submit a one-page document on one portfolio company where a critical ESG upgrade or upgrades has taken place as a result of your initiative. Please provide: - Background information on the company, including nature of the business, size, geographical scale and location, and in which year you invested in the company.
- As many details as possible on the specific ESG initiatives and changes that you have introduced.
- If there has been sufficient time for these initiatives and changes to bear fruit, their impact on the company and its stakeholders.
- Focus only on the two or three changes that have been most instrumental in addressing existing weaknesses and/or in creating value for the business.
- Any supporting evidence, such as photos that contribute to the narrative and quantifiable results or milestones achieved (whether financial, operational or social), will be valuable.
All entries should be emailed to the HKVCA (email address: kamy@hkvca.com.hk). The deadline for your entry is 5:00p.m. on Friday, November 17, 2017.
A panel of judges consisting of LP members from the HKVCA’s ESG Committee will select two winners from all entries. The winners will be announced in December, 2017 and the decision of the panel of judges will be final. The HKVCA anticipates the award will be granted once every two years, which provides sufficient time for new ESG initiatives to develop within Asian PE/VC portfolio companies. The next submission period is therefore anticipated to be the second half of 2019.
The HKVCA may use some or all of the entries on its website, publications (online and offline) and/or in its training materials. Please do not include any confidential information in your entry documents. By submitting an entry, you give your consent to the HKVCA to use your entry documents on its website, publications and/or training materials, and acknowledge that there is no confidential information in your entry documents.
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|  | | HKVCA Christmas Cocktails 2017 | | Sponsored by |   | | The event offers an excellent opportunity for networking with fellow professionals and for celebrating the holiday festivities with both colleagues and friends. We are also honored to have our Vice Chairman, Chin Chou, of Morgan Stanley Asia, joining us for the evening. | | Date: | 7 December, 2017 (Thur) | | Time: | 18:00 - 20:00 | | Venue: | The China Club, 15/F, The Old Bank of China Building, | | Bank Street, Central, Hong Kong | | Fee*: | Member: HK$350 per person | | Non-member: HK$700 per person | | | | Priority is given to HKVCA members | | | | Canapés and unlimited drinks including house wines, spirits, beers, fresh orange juice, soft drinks and water (mineral or sparkling) | |
|  | | HKVCA Asia Private Equity Forum 2018 | 
| The Asia Private Equity Forum (APEF), a major industry event with a global footprint, is organized annually by the Hong Kong Venture Capital and Private Equity Association (HKVCA), Asia's oldest and largest private equity industry association. APEF 2018, as in previous years, will form part of the Hong Kong Government's international financial week, which includes the Asian Financial Forum to be held on the 15th and 16th of January, 2018 and will be held at the same venue.
APEF 2018 will feature more than 80 speakers and panelists representing limited partners, investors, advisors and consultants. Leading industry practitioners will address key issues facing investors in Asia's high-performing private markets, including those of China, India, Southeast Asia, Japan and Korea. Discussions will cover such topics as co-investments, fundraising and investor relations, private debt, private equity real estate, secondaries, value creation and venture capital.
As many as 700 persons attended APEF 2017, more than half of whom were partners and C-suite executives. And with the dynamism that continues to be a hallmark of the industry, it is expected APEF 2018 will attract an even greater audience. Speakers from the limited partner sector will include leading figures from HQ Capital, HarbourVest Partners, and The Church Pension Fund as well as general partner professionals representing KKR and Morgan Stanley.
The HKVCA will provide regular updates on the agenda for APEF 2018 on the website at apef.hkvca.com.hk. Alternatively, please feel free to contact the HKVCA by email at apef@hkvca.com.hk. | | Date: | 17 January, 2018 (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: 30 November 2017) | | Corporate Full Member | Non-Member | | One free pass per company | HK$6,800 per person | | Addtional pass: HK$3,300 per person | | | | | | Corporate Associate Members / Overseas (Full / Assoc) Members | | HK$3,300 per person | | | | | | CPT: | 6.5 points | | | | | | | | | Supporting Events:
| | | New Members Welcome | | Corporate Full Members | | | General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, Sao Paulo, and Singapore. | | | | SA Capital Limited | | | Sequoia Capital China Advisors Limited
Sequoia Capital is a US venture capital firm founded in 1972. Formed in September 2005, Sequoia Capital China has offices in Hong Kong, Beijing and Shanghai and has an impressive and diverse portfolio that delivers high returns on investment using differentiated technologies and innovative business models. | | | Silverhorn Investment Advisors Ltd.
Silverhorn is a fully integrated wealth management boutique firm with a core focus on Asia. The firm was founded in 2010 with headquarters in Hong Kong and has since added presences in Beijing and Zurich. Our mission is to leverage our unique platform to provide innovative and truly independent investment solutions, tailored to satisfy all of the diverse and specific investment requirements of our clients. Silverhorn provides a holistic solution for Asian investors and a gateway to Asia for investors in other regions. | | | Tiger Securities Asset Management Company Limited
Tiger Securities Asset Management Company Limited is a Hong Kong SFC licensed corporation with securities trading (type 1), investment advisory (type 4) and asset management (type 9). It is committed to clients with a one-stop investment projects, financing and securities (IPO and listed) trading platform. Through various channels as direct investments, trusts, funds, financial institutes or intermediary services, we seek the best investment opportunities for our clients. We also provide professional fund management of private equity funds, trust and investment products for both investors and fund processing services. A listed company and several foreign private equity funds have already appointed the company as their investment manager. | | | | Overseas Full Member | | | | Brandywine Group Advisors | | | Jungle Ventures Pte Ltd
Jungle Ventures is a Singapore based venture capital firm that invests in and helps build tech category leaders from Asia. Jungle has a dedicated team of operating partners and functional experts to support startups as they scale across the region or globally. The firm recently closed its second fund at US$100M, backed by leading institutions and family offices. | | | | Corporate Associate Members | | | Addleshaw Goddard (Hong Kong) LLP
Addleshaw Goddard is a premium international business law firm with an exceptional breadth of services and a focus on strong client relationships built on successful delivery of support across national and international markets. High quality legal advice is provided directly from offices in the UK, the GCC, and Hong Kong and Singapore in Asia, via a formal association with Hashidate Law Office in Tokyo, and through an extensive international preferred firm network worldwide. Dedicated business groups for key international markets also contribute to effective, seamless multi-jurisdictional legal support whenever and wherever it is required. The firm advises FTSE 350 / Fortune 500 companies, financial institutions, public sector bodies, successful businesses and entrepreneurs. | | | Greenhill & Co. Asia Limited
Greenhill is a leading independent investment bank focused on providing financial advice globally on significant mergers, acquisitions, restructurings, financing and capital advisory to corporations, partnerships, institutions and governments. Greenhill’s Hong Kong office has a dedicated team of capital advisory professionals focused on the primary and secondary markets for private funds. | | | Robert Half Hong Kong Limited
Founded in 1948, Robert Half (NYSE symbol: RHI) pioneered specialized recruitment services and today is the world's leader in placing accounting, finance, banking and technology professionals on a temporary and permanent basis. | | | Wilson Sonsini Goodrich & Rosati
Wilson Sonsini Goodrich & Rosati is the premier legal advisor to technology, life sciences, and other growth enterprises worldwide. We represent companies at every stage of development, from entrepreneurial startups to multibillion-dollar global corporations, as well as the venture firms, private equity firms, and investment banks that finance and advise them. The firm's broad range of services and practice areas are focused on addressing the principal challenges faced by the management, boards of directors, shareholders, and in-house counsel of our clients. | | |
| | Recent Events Report | | | HKVCA Wine Tasting Event 2017
18 September 2017 |  | | The HKVCA held its annual wine tasting event on the evening of 18th September at the Hong Kong Club. The theme of the night was "California Dreamin", and the evenings proceedings proved extremely popular, attracting close to 60 members and other professionals. Our Master of Wine, Debra Meiburg, took the audience through an informative and entertaining presentation while also offering attendees a fabulous selection of wines from Sonoma, particularly Pinot Noir. The evening was great fun and the Association received much positive feedback from the enthusiastic participants. We would like to thank our organizing committee - Marcus Thompson, Alain Fontaine and Anthony Chan – for their time and efforts and for being part of another very successful event. Of course special thanks must go to our generous sponsor, Alvarez & Marsal, without whose support the event would not have been possible. | | | HKVCA Qianhai Visit
8 September 2017 |  | Members from the HKVCA made a special visit to Qianhai on 8 September, 2017. Organized by the PRC Committee, leaders from Qianhai Financial Holdings and Qianhai Shenzhen-Hong Kong Fund Town co-hosted a half day event for private equity fund managers. Representatives from Qianhai discussed the various advantages of setting up local branches and highlighted a number of such businesses that have recently done so successfully.
The HKVCA was very pleased to have been able to invite Forest Lin, Managing Director of Tencent Investment; Roger Luo, Chief Executive of DJI; and Dan Yu, CFO of Wuhan Healthgen Biotechnology Corp to join the event and they provided the delegation with their views of the latest trends in private investment and the startup ecosystem in IOT and biotechnology. Lin stressed the importance of integrating the latest technology into the “real world” and offered some key statistics on private equity and NYSE listed companies. Luo, who is also an experienced engineer, spoke about the success of DJI and its most recent developments, while Yu revealed his company’s upcoming expansion plans.
The HKVCA and the PRC Committee were delighted that over 30 members were able to take the time from their busy schedules to join the tour and take advantage of the networking opportunity with professionals from Qianhai. We would like to thank all the participants, and especially our co-organizer, Qianhai Financial Holdings, whose support made this event possible.
| | Click here to view Chinese version. | | | HKVCA Brownbag Luncheon Talk - China Outbound M&A – Update and Trends
31 August 2017 |  | The HKVCA hosted its latest brownbag luncheon talk on 31 August, 2017 at the law offices of Shearman & Sterling. Lorna Chen, Head of Greater China and Partner, Asset Management; and Li Chen and Stephanie Tang, partners in Shearman & Sterling’s M&A Group, discussed the latest updates and major trends related to the regulation of PRC outbound investment. The speakers also offered their thoughts on how best to handle the latest regulations and alternative deal structures. In addition to highlighting the rules on outbound transactions, they also reminded the audience of the need for regulatory approval and or review at the destination of investments.
The HKVCA and the Education Committee were very pleased that close to 40 members were able to take the time from their busy schedules to attend the lunch and take advantage of the networking opportunity with their colleagues. We would like to thank all the participants, and especially our sponsor, Shearman & Sterling, whose support made this event possible. | | | HKVCA Brownbag Luncheon Talk – Asia-Pac PE Survey Findings and Related Guidance
29 August 2017 |  | | At a brownbag luncheon on Tuesday, August 29th, Vinit Bhatia, Senior Partner at Bain & Company, and Kiki Yang, Partner, gave a presentation to 20 HKVCA members detailing the latest trends in the Asia Pacific’s private equity markets, including China. Among the topics discussed were a review of private equity deal valuation; the performance of Asia’s private equity investments; and the state of competition in Greater China. We would like to thank Bain & Company for providing the venue and refreshments. | | | HKVCA Luncheon Talk - Belt and Road - From Rhetoric to Reality
24 August 2017 |  | | A luncheon talk with speaker Andrew Weir, Regional Senior Partner, Vice Chairman of KPMG China, was held on 24 August, 2017 at the China Club. Over 60 attendees were present for the very popular event, which was titled “Belt and Road: From Rhetoric to Reality”. In his discussions Andrew provided an outline of the initiative and his own analysis of the many opportunities “Belt and Road” presents. We would like to thank Andrew for providing our members with his valuable insights and also a special thanks to KPMG who sponsored the luncheon and whose support made the event possible. | | | Market Consultation on the New Board Concept Paper and GEM Review
13 July 2017 |  | On July 13, 2017, the HKVCA members' market consultation on the New Board Concept Paper and GEM Review meeting was held at the HKEx’s Exchange Exhibition Hall. More than 50 representatives from private equity and venture capital firms attended the meeting.
James Fok, Head of Group Strategy and Project Management at HKEx, and Grace Hui, Managing Director and COO of the Listing Division at HKEx, discussed details of the proposal, including the way the different boards – the Main Board, GEM and New Board – would be positioned in the market. The issue is an important one for our members, who represent a wide spectrum of private equity investment, from very early stage to large buyouts. Moreover, over the last five years, 24% of HKEx IPOs have involved private equity investors. | |
| | | Industry News | | Hong Kong to examine tax concessions to attract global funds, Financial Secretary says | | —24 September, 2017 | (SCMP by Peggy Sito) - The government will examine the existing tax concessions applicable to the fund industry to make Hong Kong into a diversified and competitive international fund management centre against its global counterparts, said the city’s financial chief.
The development of asset management and wealth management industries in Hong Kong is in a leading position in the Asian region, Financial Secretary Paul Chan Mo-po wrote in his blog on Sunday.
“We must ensure that Hong Kong’s tax arrangements can compete with other asset management centres,” said Chan, noting that Britain and Singapore have implemented a number of tax incentives to attract fund management companies.
The comprehensive review will include the feasibility of introducing limited partnership for private equity funds. | | (link to the full article) | | | | Hong Kong fintech startup TNG raises US$115M to invest in blockchain, AI, chatbots and more | | —11 September, 2017 | | (e27 by Yon Heong Tung) - Hong Kong fintech startup TNG has raised US$115 million in Series A round led by New Margin Capital, a major Chinese private equity fund which has invested over US$1.7 billion in more than 160 companies, with 40 IPO exits. | | (link to the full article) | | | | Chang Sun Joins TPG as Managing Partner, China | | —10 September, 2017 | | (Press Release) - TPG, a leading global alternative asset firm, announced today that it has named Mr. Chang Sun as Managing Partner, China. Chang Sun was most recently the Founder and Managing Partner of Black Soil Group Ltd, an impact investing firm he founded in 2015. | | (link to the full article) | | | | Bain makes first close for Asia credit fund, raising $557 mln-filing | | —6 September, 2017 | | (Reuters by Elzio Barreto) - Bain Capital made the first close to its Asia credit fund, raising $557 million as the private equity firm looks to scoop up distressed debt in China and other countries in the region. | | | (link to the full article) | |
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