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   Formation of the HKVCA Overseas Council   

The Hong Kong Venture Capital and Private Equity Association (HKVCA) is pleased to announce the establishment of its Overseas Council. This new initiative is designed to engage more effectively with our overseas LP network and to accomplish several strategic objectives aimed at enhancing the influence and effectiveness of our Association globally.

Objectives of the Overseas Council include:
1. Expanding the reach and messaging of the HKVCA Network
2. Improving information flow and transparency
3. Enhancing understanding of market conditions
4. Providing engagement opportunities

The HKVCA believes that the Overseas Council will significantly contribute to our goals of enhancing global connectivity and understanding within the venture capital and private equity sectors. We are excited about the possibilities this council brings and look forward to the active participation of our members in this new endeavor.

        
   HKVCA Asia Venture Capital Forum (AVCF) 2024   

The HKVCA's annual Asia Venture Capital Forum (AVCF) was held on April 8, 2024, marking a successful and significant return to large-scale in-person events after three years of virtual meetings due to the pandemic. Held the day after the Hong Kong 7's global sporting event, the Forum featured robust participation, attracting over 300 attendees, many of them key players in the venture capital community.

This year's event explored a rich vein of topics crucial to the Asian venture capital landscape, with a focus on regions and sectors such as Southeast Asia, China, Hong Kong, biotech, fintech, and perspectives from limited partners. These discussions offered attendees a deep dive into current investment trends and opportunities across the most dynamic markets.

We were honored to collaborate once again with Cyberport and the Hong Kong Science and Technology Park, who joined with us to co-host the event. Their continued partnership underscores the Forum's importance when it comes to fostering innovation and investment across the region's technology and venture sectors.

KPMG graciously returned as our Platinum Sponsor, playing a pivotal role in the event's success. We also extend our gratitude to InvestHK for sponsoring the luncheon, which served as an incredibly valuable networking opportunity for attendees. C Capital supported the forum as our Silver Sponsor, while Arbor Ventures continued their involvement as a Venture Sponsor.

However, the Forum was not just a platform for discussing market trends and investment opportunities – it was also a celebration of the venture community's resilience and adaptability as we returned to face-to-face exchanges. This year’s event provided a much-needed space for direct engagement and networking, enhancing the value and impact of our lively discourse and discussion.

We sincerely thank each of our sponsors, co-hosts, speakers, and attendees for their contributions and enthusiasm. Their participation and support were crucial in making the HKVCA Asia Venture Capital Forum 2024 a landmark event. We look forward to continuing to build on these partnerships in the years to come.

Photo Album Video Highlight
        
   HKVCA ESG Award of Excellence 2023 - Webinar and Video

The HKVCA hosted a webinar on March 21, 2024, with the four winners of the HKVCA ESG Award of Excellence 2023. The speakers shared insightful case studies from their award-winning entries and the session provided a valuable opportunity for the award winners to discuss in-depth the key ESG initiatives undertaken by their portfolio companies.

The speakers discussed the various challenges and learning gained from collaborating with portfolio companies to drive impactful ESG initiatives and demonstrate measurable results. Attendees were able to see best practices at work in terms of ESG integration and how to drive sustainable value creation.

We extend our congratulations again to the deserving 2023 ESG Award of Excellence winners: AirPower – PAG; EcoCeres – Bain Capital and Kerogen Capital; Elevarm – Insignia Ventures Partners and FineToday – CVC Capital Partners.

To further showcase the award winners, the HKVCA has produced a video introducing the ESG Award of Excellence and highlighting the remarkable achievements of the winning entries. The Award of Excellence webinar also reinforced the HKVCA's commitment to promoting ESG best practices and fostering a sustainable private equity and venture capital ecosystem in Asia. We thank all participants for their contributions and look forward to continued industry collaboration in driving positive environmental, social, and governance impact.
 
    Upcoming Events    
Members only event | Limited Seats Available
HKVCA Members Breakfast Meeting
Sponsor:    
   
Date: May 3, 2024 (Friday)
Time: 8:30 - 9:30 am (registration starts at 08:00)
Venue: Harcourt Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong
Fee*: HKVCA Members: HK$380 per person
*An additional charge may apply to accommodate special dietary requests.
Dress Code: Business attire
 
Registration deadline: May 2, 2024, 15:00 HKT
   
Notes
  • Please inform us of any dietary requirements in advance. We cannot guarantee we can accommodate requirements requested on the day of the event.
  • An additional charge may apply to accommodate special dietary requests.
  • Registration must be followed by payment to secure your place. Registration will be confirmed upon receipt of payment.
  • Should you require an invoice, please contact us.
  • Cancellations must be made in writing at least 7 working days prior to the event. No refunds will be made thereafter.
  • Information is subject to change.
  • The HKVCA retains the right to make changes as it deems necessary.
  • Priority will be given to HKVCA members. Seats are limited on a first-come-first-served basis.
  • No media registrations will be accepted for this event.
  • Free pass no shows will be charged full price.

Empowering Women in Finance: Insights from Leaders
in Private Equity Financing Options for Private Equity Firms

Sponsored by  

This HKVCA luncheon talk will bring together an audience of women from across the private equity ecosystem to showcase the diverse talent within the vibrant field of finance. This event is an opportunity to connect with professionals and industry experts, foster meaningful connections, and to collaborate and share knowledge with fellow female professionals. As we enter a new era in the development of private capital markets, hear directly from some of the largest global GPs and investment advisors about the current challenges, triumphs, and innovations in the workplace. Connect, collaborate, and become part of a community of women in private equity.

Join us for an enlightening session with Stephanie Hui, Head of Private and Growth Equity in Asia Pacific and Global Co-head & Co-CIO of Growth Equity, GSAM, as she shares valuable insights in a thoughtful and engaging panel discussion that explores finance through the lens of female leaders in private equity. This transformative event aims to pave the way for a more inclusive and diverse future for the finance industry.

Speakers:
Alice Sun
Director, Financials
Sponsors Group,
Barclays (Moderator)
Stephanie Hui
Head of Private and Growth Equity in Asia Pacific; Global Co-head & Co-CIO of Growth Equity,
Goldman Sachs Asset Management
 
     
Date: May 30, 2024 (Thursday)
Time: 12:30 - 14:00 (registration starts at 12:15)
Venue: The China Club, 14/F, The Old Bank of China Building, 1 Bank Street, Central, HK
Fee: Corporate Full Member
1 free pass per company        
additional passes: HK$550 per person
Corporate Associate/Overseas (Full/Associate)/Individual Member
HK$550 per person
  Non-Member
HK$900 per person
 
CPT:  1 point
Dress code: Business Attire
        
Registration deadline: May 29, 2024, 15:00 HKT
        

The China Private Equity Summit (CPES), an HKVCA flagship event, will bring together more than 700 delegates, most of whom are senior management and C-suite executives actively participating in the dynamic investment markets across all sectors, stages, and geographies in China. This gathering serves as a platform for industry leaders to exchange ideas, share knowledge, and foster meaningful collaborations.

The line-up of expert speakers includes over 60 limited partners, investors, advisors, and industry professionals addressing thought-provoking perspectives on the key opportunities and challenges that private equity and venture capital professionals need to navigate and assess in China.The focal points of discussion will span various aspects of China's private equity landscape, encompassing topics such as family offices, private credit, exits, AI and big data, EV, and more.

 
Platinum Sponsors | 白金赞助商
 
 
Gold Sponsors | 金牌赞助商
   
Silver Sponsor | 银牌赞助商  
     
Cocktail Sponsor | 酒会赞助商 Co-organiser | 协办单位 PR Partner | 公关伙伴
 
Date: May 20, 2024 (Monday)
Time: 9:00 am - 5:30 pm
Venue: Hong Kong Convention and Exhibition Centre, Wan Chai
 Fee: Corporate Full Member
1 free pass per company        
additional passes:
HK$5,700 per person
Corporate Associate/Overseas (Full/Associate)/Individual Member
HK$5,700 per person
  Non-Member
HK$9,700 per person
Supporting Organisation
HK$7,760 per person
   
  Group Discount: Register in a group of 3 or more from the same company and enjoy a 10% discount. This discount does not apply to passes with special rates or complimentary passes.
   
CPT:  5 points*

*Notes:

  • Registration must be followed by payment to secure your place. Registration will be confirmed upon receipt of payment. Please contact us should you require an invoice.
  • When cancellation occurs more than 10 working days prior to the event, an administration fee of HK$500 will be charged. When cancellation occurs later than 10 working days prior to the event, the registration fee will be charged in full. Information is subject to change.
  • The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA Members.
  • Free pass no shows will be charged full price.
  • Participants are hereby reminded that they are required to join the event at the beginning and remain until completion of the full event if they intend to claim all CPT (SFC licence) hours the event provided.
  • • The Hong Kong Securities and Futures Commission (HKSFC) approved the Hong Kong Venture Capital And Private Equity Association (HKVCA) as a Recognised Institution for Providing CPT (Continuous Professional Training). Registrants may claim CPT points on the captioned event if their employers consider this event relevant to the functions performed by them. Registrants should note that their employers, as the corporate license holder of your SFC registration, are responsible for determining whether our courses/events satisfy CPT requirements.
  • Please inform us of any dietary requirements in advance. We cannot guarantee we can accommodate requirements requested on the day of the event. An additional charge may apply to accommodate special dietary requests.
  • • There are only limited seats available for the luncheon session, and it is limited on a first-come-first-served basis.

Supporting Events
  
Self Storage Expo Asia 2024
May 7 - 9, 2024

SVCA Annual Conference
May 16, 2024

GPCA Investor Training
May 21, 2024

rev Hong Kong April 2024: VCs pitching to startups
May 28, 2024

Bloomberg Wealth Summit
June 5, 2024

HKVCA Research Journal - 10th Issue
   

   
HKVCA Institute for Private Capital
The HKVCA Institute for Private Capital was established in January 2023 with the aim of developing and providing additional training to professionals from a wide range of related industries and functions. The Institute has provided training for startups from Hong Kong Science Park and Cyberport. If you are interested in learning more about our training programs, please feel free to contact Joanne Yuen, Secretary General of the HKVCA, for more details. The Institute can provide tailor-made content for financial and investment communities, startups, local and international universities, service providers, and others.
       

     
New Members
                     
Corporate Full Members
        
Sinovation (HK) Investment Management Co., Limited
Sinovation Ventures is a leading Chinese technology venture capital firm formed in 2009 with a team led by Dr. Kai-Fu Lee. With a presence in Beijing, Shanghai, Shenzhen, Nanjing and Guangzhou, Sinovation Ventures currently manages around $3 billion AUM between ten USD and RMB funds, and over 400 portfolio companies across the technology spectrum in China.
           
HighLight Capital
HighLight Capital (HLC) is a private investment firm dedicated to creating long-term values through promoting technology innovations. Empowered by deep knowledge in chemical, biological and material sciences, and leveraging proprietary industry research and comprehensive enablement services, the firm strives to invest in companies that boost manufacturing efficiency and improve human wellness. Since inception HLC has invested in over 120 leading companies, including Mindray, Wuxi Apptec, Tigermed, Pharmaron, Hongene, Zentalis, Singular, Smoore, Nayuki, and Etana. HLC currently manages over US$2.6 billion, with operations across key Asian growth hubs such as Shanghai, Singapore, Shenzhen and Hong Kong.
       
China Growth Capital
China Growth Capital (CGC) are pioneers in fintech, enterprise software and deeptech investing in China. Since 2012, as an early stage investor, CGC has backed more than 400 teams with $1.2 billion under management. It has a unique portfolio of cutting-edge technology companies in China, including next-generation database providers PingCAP and TigerGraph; aerospace launch service provider Landspace; consumer AR glass brand Xreal (f.k.a. Nreal); autonomous driving platforms WeRide and PlusDrive; LiDAR sensor fusion specialist Seyond (f.k.a. Innovusion); AI robotics vendor Mech Mind; Brain-Machine-Interface challenger NeuraMatrix; and protein sequencing platform Rapid Novor.
            
Corporate Associate Members
           
Waystone Governance (HK) Limited
Waystone is a leading company management and corporate administration services firm that provides a full suite of services in order to establish companies in the Cayman Islands.
            
LGT Bank (Hong Kong)
LGT Private Banking is a leading international private bank that provides comprehensive and holistic investment solutions for high-net-worth private clients and families. LGT is present in more than 25 locations, with approximately CHF 305 billion AUM, and around 500 employees in Hong Kong
            
Simmons & Simmons
            
JCK & Associates Limited
JCK & Associates Group is a boutique firm specializing in consulting, accounting and corporation formation with a team of over 100 staff. Headquartered in Hong Kong, the firm has offices in the four key Mainland cities of Beijing, Shanghai, Shenzhen and Guangzhou, and in Taiwan. The firm joined DFK International (a top global body of independent accounting firms) in 2018 and as a team has decades of experience looking after companies that have offices in Greater China, Europe, USA, the UK and other countries in Asia. Acting as a "gatekeeper" in each city, JCK & Associates provides a one-stop service, from set-up to producing required financial reports and managing HR matters.
              

      
Regulatory Updates
      
Meeting with FSB and IRD on refining tax concession regime
Representatives from the HKVCA’s Technical Committee met with FSTB, the HKMA, IRD and SFC on February 6, 2025. During the meeting, members of the Association identified a number of problems related to both the unified funds exemption and the carried interest tax regimes, and offered solutions on how to resolve the issues. Government officials welcomed our candid recommendations and indicated they are working on proposals to refine both regimes. The official consultations (or proposals) will begin in next few months.
      
Meeting with SFC Intermediaries Team
HKVCA representatives met with the core members of the SFC Intermediaries Team to discuss issues related to licensing, including accreditation and examination; incidental exemption for Type 9 licensees; and the differences between Hong Kong and Singapore’s licensing regimes. The meeting was held prior to Dr Eric Yip Chee-hang joining the regulator as Executive Director (Intermediaries) on May 2, 2024. Both parties agreed that the next round of meetings will occur after Dr Yip begins his term.
      

      
Event Reports
      
HKVCA Webinar: Unlocking liquidity for Asia’s GPs - financing options for PE firms
Feb 29, 2024
A recent HKVCA webinar examined the growing need for liquidity solutions among Asian general partners (GPs). The well-attended event, which was held on February 29, 2024, was sponsored by HSBC and had over 140 participants. Mathieu Rabiller, Managing Director, Head of Origination Credit Advisory, North Asia at HSBC Global Private Banking; and Doos Choi, Partner at Mayer Brown, led the discussions...
      
HKVCA Mixer – Year of the Dragon Mix at 6
Feb 29, 2024
The HKVCA played host to a lively networking event, the "Year of the Dragon Mix at 6". Held on February 29, 2024, and sponsored by PCL Insurance, the popular social event provided a unique platform for close to 100 members to connect and engage with their industry peers in a relaxed and congenial setting...
      
HKVCA Members Breakfast Meeting
Mar 1, 2024
The Hong Kong Club was the site of the HKVCA’s latest Members Breakfast Meeting on March 1, 2024. This always popular event stayed true to form with more than 60 of our members attending. The Association was also delighted to be able to welcome several new members, who had the opportunity to introduce themselves to their industry colleagues. The Breakfast Meeting continues...
      
HKVCA Exclusive Champagne Tasting
Mar 15, 2024
The HKVCA was honored to have hosted a very exclusive Champagne tasting event on March 15, 2024, a distinguished gathering attended by 24 of our members. The evening featured the renowned Champagne Salon 2013, expertly presented by Grégoire Piochon...
      
HKVCA Luncheon Talk: Maximising returns through transformational value creation
Mar 26, 2024
Christian Lynaes and Clinton Pang from PwC were the featured speakers at the latest HKVCA Luncheon Talk held on March 26, 2024. The two shared their expertise on how to maximize returns through transformational value creation and ESG integration. The event, attended by close to 60 participants, offered invaluable insights into strategies to enhance value across the investment lifecycle. The HKVCA thanks PwC for its sponsorship and commitment to fostering industry knowledge...
      
View all full event reports here.
      

      
Industry News
       
EQT Exeter launches debut Asia logistics fund
Apr 23, 2024
EQT Exeter, the real estate business of Swedish private equity firm EQT, has dialed up its fundraising efforts for Asia real estate despite expecting limited fundraising activities for the asset class outside of the region.

The private equity giant has begun fundraising for its first Asia-Pacific logistics fund, Gustav Segerberg, head of business development, said during the firm’s Q1 2024 earnings call last week...
   (view full article)
       
Chinese electric heavy-duty truck developer Windrose closes Series B round at $110m
Apr 12, 2024
(DealStreetAsia by Eudora Wang) - Chinese electric heavy-duty truck developer Windrose Technology has completed the second phase of its Series B round to bring the overall fundraising in this round to $110 million.

Its Series B investors include HSBC, Boston-based HITE Hedge Asset Management, Australian industrial real estate and digital infrastructure specialist Goodman Group, as well as executives from global brands and logistics companies, the firm announced on Thursday...
(view full article)
        
Hong Kong Considers Changing Tax Rules to Lure Private Credit Business
Apr 10, 2024
(Bloomberg by Lulu Chen) - Hong Kong’s government is considering new tax rules that would give more favorable treatment to popular alternative investments including private credit and infrastructure, according to people familiar with the matter.

The proposals, set to be included in a consultation paper, would offer tax exemptions on items like interest income to special purpose vehicles for alternative investments including private credit, hybrid securities, real estate and infrastructure, the people said, requesting not to be named because the matter is private. The draft rules are expected to come out as early as this month, the people added...
(view full article)
             

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   Visit us at www.hkvca.com.hk

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