RMB Private Equity funds have witnessed another year of strong growth, accounted for 65% of the number of deals and 55% of total investment amount in the China Private Equity market. The notable phenomenon is the establishment of RMB funds by Foreign fund managers, while Domestic fund managers are raising foreign currency funds. Going forward, how will these two forces interact and affect the ecosystem and the competitive landscape? What is the impact on fund raising, investments, portfolio monitoring, and exits?
9:00am Opening Remarks
Session 1: New Ecosystem Taking Shape
  • Emergence of institutional LPs in China.
  • National level LPs, QFLP.
  • Domestic GPs mushrooming and raising US$ funds.
  • Foreign GPs raising RMB funds.
  • Placement agents.
  • Exits opportunities through domestic stock exchanges.
  RMB Funds: Domestic vs International
  New challenges for foreign funds
  • Foreign investors are now more sophisticated with a better understanding of the China market. Some have successfully raised RMB Funds and enjoyed successes in exists through A Shares. What are the challenges now?
  • What are the advantages of being international funds? Does greater value add at a operational level provide a competitive edge?

Are domestic funds active within China only?
  • Having achieved spectacular results in managing RMB funds, some domestic PE managers are now raising USD funds
  • How challenging is it for a domestic PE manager to access international capital?
Session 2: Regulations
11:30am Always evolving but maturing
  • Circular on Several Issues Relating to the Administration of Foreign Investments issued by MOFCOM in February, 2011
  • National Security Review Rules
  • Recent government initiatives on private equity in China
  • New clarification rules Circular 698
  • New developments on PRC anti-monopoly regulations
Luncheon Talk by Mr. Johnathan Li,
CEO of Bohai Industrial Investment Fund
Session 3: LPs Assessments
2:00pm What are LPs’ views on the new developments in relation to Onshore vs offshore investments?
  • What are LPs views relating to new PE related regulations in China?
  • With a growing number of GPs in the market, should LPs flock to quality (i.e., established funds) or take some risks in backing new managers?
  • Are domestic GPs ready to take in USD? Can USD GPs work with domestic LPs?
Session 4: Risks and Returns
3:00pm What the shorts are saying about Operational Risk in China, and how their actions are affecting VC reputations and challenging the status quo?
Session 5: Beyond China
4:20pm Some established China funds are also planning to invest overseas, tapping opportunities to help Chinese companies in global expansion. What are the challenges? Is there a role for Hong Kong in their outbound investments?
Session 6:
A Success Story
5:00pm One on one Meetings (Pre-registration is required)
 Some Confirmed Moderators and Speakers:
Mr. Lawrence Wong
Vice President, Auda Capital
Mr. Conrad Tsang
Managing Director, Baring PE Asia
Mr. Jonathan Li
Chief Executive Officer, Bohai Industrial Investment Fund Management Co., Ltd.
Mr. Conrad Yan
Partner, Campbell Lutyens Asia Pacific Ltd
Mr. Alvin Li
Managing Director,
CCB International Asset Management Ltd
Mr. David Yeung
Founding Partner, Finance Elite
Ms. Judy Leissner
President, Grace Vineyard
Mr. Sebastiaan Van Den Berg
Managing Director, HarbourVest Partners (Asia) Ltd
Mr. James Tunkey
Partner, Chief Operating Officer-International,
I-OnAsia Ltd
Dr. Anthony Renshaw
Medical Director,
Medical Services, North Asia, International SOS
Mr. Jun Deng
Of Counsel, Morrison & Foerster LLP
Mr. Martin Tornberg
Executive Director, Ping An of China Asset Management (Hong Kong) Company Ltd
Mr. Edmond Chan
Partner, PricewaterhouseCoopers, Capital Market Services Group
Ms. Cathy Kai Jiang
Partner – PRC Tax & Business Advisory Services
Southern China DMI Team Leader
Mr. Lingcheng Li
Chairman and Party Secretary,
Hebei Financing and Investment Holding Group
Dr. Fred Hu
Chairman and Founder,
Primavera Capital Group
Mr. Chris Burch
Chief Investment Officer and Special Assistant to the Chairman, Shenzhen Capital Group
Ms. Li Huang
Managing Director, Shenzhen Co-win Venture Capital Investments Ltd
Ms. Margaret Shao
Managing Partner,
Shenzhen Fortune Venture Capital Co., Ltd
Dr. Wei Chen
Chairman and Founding Partner,
Shenzhen Oriental Fortune Capital Co., Ltd
Ms. Alice Chow
Managing Director, Squadron Capital
Mr. Boris Bong
Managing Director, Squadron Capital
Mr. Timothy Wang
Fund Manager,
Suzhou Industrial Park Venture Capital Fund of Funds
Mr. C K Tsang
Operating Partner,
TPG Growth Capital (Asia) Ltd
Mr. Darren Shen
Managing Director,
Zero2IPO Partners, Zero2IPO Group

6 CPT Points can be claimed for full attendance. Licensed individuals may claim SFC CPT Points on the courses taken which their employers consider as relevant to the functions performed by them.
HKVCA retains the right to make changes as it deems necessary
Following AGM……
Many of the families who made fortunes after building the first factories in China after 1895 are still around and flourishing. Jasper Becker will describe how they have prospered and what they are doing now. Will China's new rich follow the same path and create new dynasties?

Date: June 15, 2011 (Wednesday)

Time: 12:30 – 2:00 pm

Venue: The China Club,
14/F Old Bank of China,
1 Bank Street, Central, Hong Kong

Speaker: Mr. Jasper Becker is the author of seven books on China and the region, including Hungry Ghosts, The Chinese and City of Heavenly Tranquillity. He is also the CEO of Legend Strategic Consultancy Ltd.

Fee: Member @ HK$400 / Non-member @ HK$1000


HKVCA Members are invited to join the next breakfast meeting to networking and information share.

 June 3, 2011 (Friday)
 July 8, 2011 (Friday)
 August 5, 2011 (Friday)

Time: 8:00 - 9:00am

Venue: The Hong Kong Club

Seats are limited and registration is on first-come-first-serve basis.

For enquiry, please call (852) 2845 6100.

New and Amended IFRSs : Accounting for subsidiaries, joint arrangements and associates, and disclosures of interests in other entities
The International Accounting Standards Board (IASB) has published a package of five new and amended standards which set out new requirements for consolidation, joint arrangements and disclosure of interests in other entities.

Financial Service European and International Update
This update summarises current regulatory developments in the European Union and the UK and certain other EU member states in the investment funds and asset management sectors in the past four weeks.

NEW FAQs Section
To enhance the support to members, a new FAQs section under Resource Page has been launched.  Members are welcomed to raise questions related to the industry through the webpage. The questions will be vetted and answered by Resource committee in batches.

首届中国(泰州)金融支持 生物医药产业发展高峰论坛
日期: 2011年6月24-25日
地点: 江苏省中国医药城会展交易中心 (泰州国际博览中心)
语言: 普通话
主办方: 江苏省金融服务办公室,泰州市人民政府
注册: 活动免费,请预先登记


如需获取更多活动信息,请联系顾先生 或浏览网站


日期: 2011年6月26日
地点: 北京香格里拉酒店
语言: 普通话 (The Forum will be conducted in Mandarin Only)
主办方: 中国股权投资基金协会,北京股权投资基金协会(BPEA)
注册: 可享受会员优惠价格



SuperReturn Emerging Markets

Date: June 27 – 30, 2011
Venue: Geneva
Organizer: SuperReturn
Registration: 15% discount for HKVCA members. Quote VIP Code: FKR3A49HKWB

SuperReturn Emerging Markets provides a one-stop-shop for LPs looking for strategies to increase their exposure to emerging markets by bringing together the best GPs from each region, international titans from global mega-funds and experienced regional funds of funds. And of course, added to this mix are LPs investing in emerging markets private equity right now!

New Asia Summit for 2011, hear 25+ Asian FoFs & GPs explain the key factors for success in the region.

For more details or to register Tel: +44 (0) 20 7017 7200 or visit the website:
June 13
HKVCA 10th China PE Summit
June 15
HKVCA 24th Annual General Meeting

Full Member

Cape Capital
Represented by
Ms. Stephanie Galantine

Cape Capital makes wealth management a new kind of experience – we manage accounts on a discretionary and advisory basis for a limited number of private and institutional clients, in a personalized manner. We provide a customized service and independent, unbiased investment advice that translates into superior risk-adjusted returns.

Permira Advisers Ltd.
Represented by
Mr. Alexandre Emery & Mr. Henry Chen

Permira is an European private equity firm with global reach. Founded in 1985, the firm advises funds totally €20 billion.
Permira is wholly independent and owned by its Partners based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Stockholm and Tokyo. Key sector focus in: Consumer, Financial Services, Healthcare, Industrials and TMT.
For more information visit:

NewQuest Capital Partners
Represented by
Mr. Darren Massara and Mr. Amit Gutpa

NewQuest Capital Partners is a Hong Kong-based private equity firm focused on investing in growth markets across the Asia Pacific region. The firm was established in 2011 from the spin out of Bank of America Merrill Lynch's Asian Private Equity team and the acquisition of over 20 private equity investments.

Associate Member

MVision Strategic Asia
Represented by
Mr. Niklas Amundsson

MVision Strategic (Asia) Limited, based in Hong Kong, provides specialist strategic consulting services to managers and investors in the private equity and strategic assets industry. MVision is a leading international advisory business focusing on Private Equity, Real Estate, Infrastructure, Real Assets, and direct transactions, in the developed and emerging markets worldwide.

HKVCA China Private Equity Summit 2010 was held in June 2010 with a record turnout of over 300 participants. Attendees included private equity practitioners, leading global and local corporates, entrepreneurs and policy makers around the region.

HKVCA Member Monthly Breakfast
May 9, 2011

The HKVCA Member Monthly Breakfast provides an excellent opportunity for our members to network and to meet our Executive Committee.
HKVCA Representative Office in Beijing
For more information about HKVCA Beijing Representative Office, Please contact Mr. Kelvin Bian, Tel: 010-88087035.
Partnership with Beijing PEA.

有关香港创业及私募投资协会 北京代表处的详情,请邮件联系边先生或致电010-88087035 , 与北京股权投资基金协会互为合作伙伴。
The Hong Kong Business Angel Network ("HKBAN"), a network established by the founding members HKVCA, Hong Kong Science and Technology Parks and the technology transfer offices of the major universities in Hong Kong. HKBAN is a platform for angels and entrepreneurs to facilitate the funding and development of young businesses.

HKVCA is now soliciting the registration of angels who invest in seed and early stage opportunities raising up to HK$5,000,000. Please recommend colleagues, friends and investment partners who may be appropriate as angel investors.

For registration, please send the completed form to Sam Wong at or Tel: 2845 6100.

Attracting and retaining talent has always been the key to long-term success of any great company. HKVCA welcomes member firms to advertise their openings on HKVCA website. If there are vacancies in your firm, please fill in the attached form and email to

Each opening will be posted on HKVCA's website for one month. The service is free of charge.

:: Job Placement Form ::

See Job Opening
The Hong Kong Securities and Futures Commission (HKSFC) has approved HKVCA as a Recognised Institution for Providing CPT (Continuous Professional Training). HKVCA's training courses, seminars, summits, conferences and forums may be applicable for claiming CPT points. For more details, please refer to "Education" section of our website.

HKVCA receives regular requests from various trade bodies and associations for speaker roles. Would you like to get involved and speak on behalf of HKVCA and promote our association and industry? Please contact Patricia Chiu at Tel: (852) 2845 6100 or to enroll on our speakers list.
HKVCA Corporate rate is available

at Hong Kong:
• Conrad Hotel HK,
• Fleming Hotel HK

at Shanghai:
• L'otel Shanghai

Contact Ms. Lilia Chin at for more details.

Hong Kong Venture Capital and Private Equity Association Limited
Tel: (852) 2845 6100      Fax: (852) 2537 0086
Website:      Email: