| | | | The HKVCA held its annual Gala Dinner on the evening of January 16, 2018 at the elegant Hong Kong Country Club. This always popular event, which was again oversubscribed this year, was attended by close to 200 guests who gathered to enjoy an evening of great food, robust conversation and excellent entertainment. With the Chinese New Year just around the corner, each of the tables were decorated with displays celebrating the upcoming year of the dog. But it was perhaps the evening’s entertainment that stole the show, featuring a fantastic performance by two young Hong Kong students playing the erhu, a traditional Chinese stringed instrument.
The HKVCA was also pleased to make a special donation during the dinner to the Baptist Oi Kwan Social Service, which provides a diverse range of social services for the elderly, those struggling with mental illness, children and families in a holistic, caring manner. The evening also featured a presentation providing an outline of the many successful activities of the HKVCA during 2017.
We would like to extend our special thanks to our cocktail sponsors, King & Wood Mallesons, and to MVision for supporting this very special event. Thank you also to all of our guests who helped to make our annual dinner an unforgettable evening.
Photographs: https://www.hkvca.com.hk/en/Gala2018.aspx | | Asia Private Equity Forum 2018 | | | | The HKVCA’s annual Asia Private Equity Forum (APEF) was held on January 17, 2018 at the Hong Kong Convention and Exhibition Centre. The focus of this year’s event was on the many challenges - but also the many opportunities - that exist for value creation within the industry. It featured more than 80 expert speakers and panelists representing general partners, limited partners and advisors. There were more than 700 delegates, most of whom were senior level and c-suite executives investing across all stages and geographies in Asia.
As it has in previous years, the 2018 Forum brought together diverse and experienced groups of private equity and venture capital practitioners, including private equity real estate and private debt. Among the topics discussed as part of the event’s programme were the key issues emerging in fundraising, investor relations, performance reporting and investor demands for greater attention to environmental, social and governance standards. There was robust discussion on key issues facing investors in private markets, including the making, managing and exiting of investments across key markets.
Among the distinguished guests who participated in APEF 2018 were Paul Chan Mo-po, GBS, MH, JP, Financial Secretary of the Hong Kong SAR; Jonathan Zhu, Managing Director of Bain Capital; Rebecca Xu, Co-founder of Asia Alternative; and Suyi Kim, Head of Asia for Canada Pension Plan Investment Board. A copy of Paul Chan’s speech, as well as associated media coverage, photographs and video highlights, may be found by clicking on the relevant link noted immediately below:
Paul Chan's speech: http://www.info.gov.hk/gia/general/201801/17/P2018011700497.htm
Media coverage: https://www.hkvca.com.hk/upload/APEF2018/Media-Coverage.pdf
Photographs: https://www.hkvca.com.hk/en/APEF2018.aspx
Video highlights: https://www.youtube.com/watch?v=1Eqk8ow8YRQ&feature=youtu.be | | | | | Full | Members Only Event |  | | Sponsored by |  | | | Date: | 2 February, 2018 (Fri) | | Time: | 8:00 - 9:00 | | Venue: | Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, HK
(Room reserved under the name of 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. | |  | |
| | Co-hosted Event | By Invitation Only |  | | HKVCA Seminar: The Case for Listed Private Equity in Hong Kong | | Speaker: | John Buser, Executive Vice Chairman of NB Alternatives; Representatives from Jefferies | | | Date: | 7 February, 2018 (Wed) | | Time: | 11:30 - 12:30 | | Venue: | Neuberger Berman, 20/F, Jardine House, One Connaught Place, Central, Hong Kong | | CPT: | 1 point | | | Please contact us at hkvca@hkvca.com.hk for registration and enquiries. | |
| | Limited seats available |  | Tournament:  | | Clinic: | |
|  | | HKVCA Private Equity Advanced Course – Module 1: Negotiation | | Speakers: | Jamie Barr, Director, Summit Professional Development | | | | | Date: | 5th and 12th March (Mon) | | Time: | 9:30 Light Breakfast and Registration
10:00 – 13:00 Morning Session (including 15-min coffee break)
13:00 – 14:00 Lunch
14:00 – 17:00 Afternoon Session (including 15-min coffee break) | | Venue: | President's Room, 1/F, Aberdeen Marina Club, 8 Shun Wan Road, Aberdeen, HK | | Fee: | HKVCA Members: HK$8000
Non- Members: $16,000 | | CPT: | 5 points per day | | | |
|  |  | | Date: | 5 June, 2018 (Tue) | | Time: | 9:00 - 17:15 (followed by cocktail reception) | | Venue: | Forum – N101, Hong Kong Convention and Exhibition Centre (New Wing),
1 Expo Drive, Wan Chai, HK | | Lunch – Bauhinia Room, Hong Kong Convention and Exhibition Centre | | CPT: | 6.5 points | | | EARLY-BIRD RATE (Payment deadline: 15 April, 2018) | | HKVCA Members | Corporate Full Members | One free pass per company | HK$3,200 HK$4,300 per person | HKVCA Corporate Associate /
Overseas Members | HK$3,200 HK$4,300 per person | | Non-Members | Non-Members | HK$5,200 HK$6,300 per person | Members of supporting organisations
(20% off) | HK$4,160 HK$5,040 per person | LP firms (sovereign wealth funds,
pension funds, endowments, foundations,
family offices, DFIS and fund of funds) | One free pass per company
HK$5,200 HK$6,300 per person | | | Simultaneous interpretation will be provided in English and Mandarin in the main conference room. |
| | Supporting Events:
| | | New Members | | Corporate Full Members | | | Altor Equity Partners
Altor is a family of private equity funds focused on investing in and developing medium-sized companies with a Nordic origin. Leading international institutional investors have committed a total of EUR 5.8 billion to the four Altor funds. | | | Ayres Capital Management
Ayres Capital Management is an investment platform offering family offices and high net worth individuals the opportunity to invest in alternative assets. Ayres Capital Management offers on its platform a hedge fund, managed by its in-house seasoned managers, as well as private investment and co-investment opportunities available on a deal by deal basis. | | | C-Bridge Capital
C-Bridge Capital is a healthcare dedicated private equity firm, focused on growth and late stage investment opportunities with US$800 million of assets under management. C-Bridge Capital’s current portfolio includes China’s leading players in pharmaceuticals, medical devices, diagnostics and healthcare services. C-Bridge Capital is committed to support commercialization of cutting edge technologies and companies that fulfil unmet medical needs, thus continuously improving the standard and quality of care for patients. | | | Eli Global
Headquartered in Durham, North Carolina, USA, Eli Global is a private investment firm wholly owned by its founder and employees. With their buy-grow-and-hold philosophy Eli Global does not work within a 3 - 5 year investment horizon, but invests for the long haul, providing companies with the resources and expertise they need to grow, entrepreneurs retain their brand equity. We are sector agnostic owner managers who partner with successful management teams across a wide variety of different jurisdictions, industries and business models. Eli Global continues to diversify in industries such as life insurance, financial services, health care services, physician practices, information technology, market research, publishing, business information, and more. | | | Infinity Equity Management Co Ltd
Founded in 1993, and backed by prominent partners and investors such as the China Development Bank and Clal Industries, Infinity Group has a solid reputation as a leading platform for fund management. It has an impressive track record for sharing the added value of know-how and technology cooperation, which has resulted in notable exits from companies such as Galileo, Saifun, Shopping.com, ShellCase, Scitex Vision, Digital China and Oberon Media, among others. Infinity Group has also made successful investments in such leading Chinese companies as WLCSP, I-China Security, United Water, Ya’an technology, Anxin Security, THT, China Medicine, Jiupai Pharmaceutical, Xinbai Pharmaceutical, Harbin 1st Tool and Ningbo Eston Technology. | | | | Corporate Associate Member | | | The Boar’s Club
The Boar’s Club is an invitation-only global investment club wherein principals of family offices can integrate with select private markets firms. The Club provides a discreet and regulated forum for the execution of alternative investments and delivers connectivity to strategic capital. | | | | McKinsey & Company | | | Orrick, Herrington & Sutcliffe
Orrick is an international law firm with a particular focus on serving clients in the finance, energy and infrastructure, and technology sectors. Founded more than 150 years ago in San Francisco, Orrick has 1,100 lawyers in offices across Asia, Europe, the U.S. and Africa. The Financial Times selected Orrick as the most innovative law firm in North America for the second time in a row in 2017. Operating as a fully integrated "one China office", with lawyers based in Beijing, Hong Kong and Shanghai, Orrick’s China team serves as the regional hub for the firm’s Asia practices, and is well-placed to assist foreign companies seeking investment opportunities in China, and Chinese companies and state-owned enterprises pursuing outbound investments around the world. | | | Sino Fund Services Limited
The Sino Group is a boutique provider of fund, trust and corporate services located in Hong Kong and China. Our expertise and focus is the Greater China market, but our strong relationships in the other major financial centers of Asia enable us to provide a seamless service to clients operating throughout the region. We are an independent professional team of practitioners with over 30 years of experience in our industry. We have been advising clients on China business as early as 1990. Sino Fund Services Limited is a member of The Sino Group, which is dedicated to providing full fund administration services to support alternative funds, including private equity, venture capital, property and real estate funds, hedge funds, fund of funds, discretionary and private funds in Asia. | | | | Overseas Associate Member | | | Whyte & Co.
As a trusted, independent source of knowledge and expertise, Whyte & Co. is frequently called upon to play a variety of special roles, in many cases where no immediate transaction is apparent. Our services span a wide breadth of situations. Whyte & Co. is able to provide services from examining strategic and financing alternatives to providing ongoing support and advice to family-owned businesses and private partnerships. With increased pressure on companies to seek independent advice, Whyte & Co. is actively involved in advising special committees, shareholders and other constituents, including the members of the board. Whyte & Co.’s Private Placement business serves the needs of the firm’s clients by originating, structuring or placing equity and debt instruments with private investor groups. |
| | Recent Events Report | | | HKVCA Roundtable Discussion: Venture Capital valuations - Lessons learnt and best practice
25 January, 2018 |  | | The HKVCA hosted a luncheon talk on the different approaches to venture capital valuations. Held at The Hong Kong Bankers Club, the event was attended by 23 private equity and venture capital professionals. Brett Suchor, Managing Director of Ipreo, shared his thoughts on the importance of valuation policy, the valuation methods for venture companies, and other VC valuation matters. | | | |
| | | Industry News | | HK fashion ecommerce platform Goxip secures $5m Series A funding | | —January 26, 2018 | | (DealStreetAsia by Mars Woo) - Hong Kong-based fashion discovery platform Goxip has raised $5 million in Series A funding round with Nan Fung Group’s The Mills Fabrica Fund contributing $1 million, according to the newly launched evergreen VC-focused investment firm. | | (link to the full article) | | | | Partners Group to sell Trimco International to Affinity Equity | | —January 23, 2018 | | (Press Release) - Partners Group said Jan. 23 that it has agreed to sell Trimco International Holdings Ltd to Affinity Equity Partners for $520 million. Trimco, of Hong Kong, provides garment labels, tags and trimming products to the apparel sector. Partners Group said the sale generated a 3.4x return on its original investment. Goldman Sachs (Asia) LLC acted as sole financial adviser and Clifford Chance as legal adviser. | | (link to the full article) | | | | Companies seeking to list dual-class shares may get green light to apply for Hong Kong listing by end June | | —January 16, 2018 | | (SCMP by Enoch Yiu) - New economy companies seeking to list dual-class shares in Hong Kong could be eligible to apply by the end of June, according to Hong Kong Exchanges and Clearing(HKEx) chief executive Charles Li Xiaojia on Tuesday. | | (link to the full article) | | | | The Pure Group secures new investment partners | | —January 03, 2018 | | (Marketing-Interactive by Angel Tang) - Pure Group announced a new investment partnership with FountainVest Partners and Ontario Teachers’ Pension Plan. | | (link to the full article) | | | | | |
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