2024

The HKVCA hosted a recent event, part of its popular Luncheon Talk series, that focused on the topic of how best to create diversity and greater inclusion of women in the finance industry. The event brought together 65 attendees from across the private equity ecosystem, showcasing the diverse talent available in the industry.

The session featured a fireside chat moderated by Alice Sun from Barclays and included Stephanie Hui from Goldman Sachs Asset Management. The speakers discussed the finance industry through the lens of female leaders in PE, sharing their own unique insights and experiences.

Strongly aimed at encouraging a more inclusive and diverse industry, the event provided an opportunity for professionals to connect, collaborate, and share knowledge with each other. Attendees heard directly from some of the largest global GPs and investment advisors about current challenges, their own personal triumphs, and the state of innovation in the workplace.

The HKVCA is grateful to the speakers for sharing their expertise and thanks Barclays for sponsoring this important event, an opportunity to make connections and support a more active community of women engaged as professionals in the private equity industry.

The Greater China Private Equity Summit (GPES) 2024, the Hong Kong Venture Capital and Private Equity Association (HKVCA)’s flagship event for the Greater China venture capital and private equity sector, has successfully concluded on 20 May 2024. This year’s GPES convened 600 attendees in person, featuring a distinguished roster of close to 60 GPs, LPs, and industry professionals as speakers and panelists, who shared invaluable insights.

The annual summit, hosted at the Hong Kong Convention and Exhibition Centre, saw the participation of renowned guests including The Honourable Christopher Hui, GBS, JP, Secretary for Financial Services and the Treasury; Conrad Tsang, Founder and Chairman Strategic Year Holdings; Wilfred Yiu, Deputy Chief Executive Officer, Hong Kong Exchanges and Clearing Limited; and Fred Hu, Founder, Primavera Capital Group.

Rebecca Xu, Chairwoman of the HKVCA, said: “We are delighted to once again bring together the most influential leaders from Greater China’s PE and VC industry at this year’s conference. HKVCA is proud to facilitate dynamic discussions, foster lasting partnerships, and drive innovation among senior executives, industry experts, and emerging talents through our platform. With Greater China’s economy demonstrating signs of recovery, we are confident that the market still holds immense growth potential and remains an attractive destination for global investors seeking untapped investment opportunities. The strong attendance at the event serves as a testament to the enduring interest in Greater China’s PE and VC industry.”

Industry experts provided insights into the current opportunities and challenges within Greater China’s PE and VC industry, encompassing a wide range of topics including the impact of AI and big data, the emergence of family offices and private credit as alternative funding methods, PE exit strategies, new trends shaping the consumer goods segment, as well as sector highlights including electric vehicles and new energy.

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大中华私募股权峰会（GPES）2024于2024年5月20日圆满落幕。GPES由香港创业及私募投资协会（HKVCA）举办，是大中华区创业投资及私募股权投资界的旗舰盛会。今年的GPES吸引了600名参会者，近60位GP、LP和业内专业人士作为演讲嘉宾和座谈嘉宾出席，分享了宝贵的见解。

本次年度峰会在香港会议展览中心举行，与会嘉宾包括财经事务及库务局局长许正宇先生, GBS, JP、策年控股创始人及董事长曾光宇先生、香港交易及结算有限公司集团副行政总裁姚嘉仁先生以及春华资本集团创始人胡祖六博士。

香港创业投资协会主席徐红江女士表示：“我们很高兴能在今年的峰会上再次汇聚大中华区私募股权和创业投资行业最具影响力的领袖人物。香港创业及私募投资协会很荣幸能够通过我们的平台，促进高管、行业专业人士和新晋人才之间的活跃讨论，积极建立持久的合作伙伴关系并推动创新。大中华区经济显现复苏苗头，我们相信大中华区仍蕴藏着巨大的增长潜力。对于寻求尚未被发掘的投资机会的全球投资者而言，大中华区仍是一个极具吸引力的市场。今天与会者的踊跃参与，证明了大家对大中华区创业及私募投资行业的持久兴趣。”

行业人士就大中华区创业及私募投资行业当前的机遇和挑战发表了真知灼见，涵盖了中国各个领域，包括人工智能和大数据的影响、家族办公室和私人信贷的兴起、私募投资退出战略、消费品行业的新趋势，以及电动汽车和新能源等行业亮点。

On April 23, 2024, the HKVCA hosted a Luncheon Talk focused on the intricate dynamics involved when investing in developed Asian markets during a time of global risk and uncertainty. Attended by over 50 members, expert Jessica Pyman, a partner at Control Risks, shared her expertise on navigating the complexities involved in navigating maturer markets. Highlighting the increasing shift by private equity into Asia’s developed regions, in particular Japan, South Korea, and Australia, she noted they are increasing in favor due to their mature financial systems, political stability, and consistent track record of sustainable returns. She also identified many of the more nuanced challenges and barriers that investors face, including issues related to market entry, partnership exploration, local stakeholder dynamics, regulatory changes, and the broader impacts of geopolitics, energy transitions, and supply chain diversification.

Participants were able to gain valuable insights into the more practical considerations required for assessing the risk profiles of various developed Asian locations and received strategic intelligence on sectors poised for future growth. The event was especially relevant to those investors considering expansion into these stable yet complex markets.

The HKVCA is extremely grateful to Jessica Pyman for sharing her expertise and to Control Risks for sponsoring this important event.

More than 60 participants joined the HKVCA on April 11, 2024, for a Luncheon Talk by Alpha Tsang of Ernst & Young and Peter Alleston of S&P Global Market Intelligence. The speakers discussed the complexities and current methodologies used in valuing private equity and early-stage companies. The session also included a fireside chat focusing on the risks and challenges in PEVC valuation. The HKVCA extends its thanks to the speakers and to S&P for sponsoring the event, providing an important contribution to the ongoing education of our members.

The HKVCA’s Diversity & Inclusion Committee hosted a wellness event on April 10, 2024, focused on helping participants find inner stillness through guided meditation with alchemy crystal bowls. Led by Amy Fong, MD, Strategic Initiatives and Sustainability at FountainVest, the session offered 14 participants a relaxing and mentally rejuvenating experience. Our thanks to Amy Fong for leading the session and to all participants for joining this unique event.

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.

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.

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.

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, Ambassador of Salon and Delamotte. Participants had the unique and rare opportunity to savor this exceptional vintage together with the luxurious flavors of Plantin Kaviari Caviar. This very special event allowed the participants to connect with their professionals peers and fellow oenophiles. The HKVCA extends its heartfelt thanks to all participants for a most memorable evening.

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 to provide a rich opportunity for networking among HKVCA members and we thank everyone who joined us for this event.

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.

The HKVCA extends its appreciation to all attendees for their participation and to PCL Insurance for its generous support and for helping make the event possible.

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.

After delving into the reasons why Asian GPs might seek to monetize assets such as future management fees, carried interest, and co-investment interests, Rabiller and Choi examined the various structures that are commonly used for such transactions, highlighting the typical challenges faced by both borrowers and lenders. The event provided valuable insights into the evolving landscape of GP financing options in Asia.

The HKVCA extends its gratitude to Mathieu Rabiller and Doos Choi for sharing their expertise with the participants, and to HSBC for its generous sponsorship.