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| HKVCA Greater China Private Equity Summit (GPES) 2024 |
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The Greater China Private Equity Summit (GPES) 2024, a Hong Kong Venture Capital and Private Equity Association (HKVCA) flagship event focused on the Greater China venture capital and private equity sector, was successfully held on May 20, 2024. This year's Summit was attended by more than 600 people. It also featured a truly distinguished roster of close to 60 GPs, LPs, and industry experts who participated in the event as speakers and panelists, sharing invaluable and unique insights into the state of the industry today. Among the many topics discussed was 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; and individual sector highlights, including electric vehicles and new energy.
Held at the Hong Kong Convention and Exhibition Centre, participants included The Honourable Christopher Hui, GBS, JP, Secretary for Financial Services and the Treasury; Brooke Zhou, Partner, LGT Capital Partners; Melissa Guzy, Managing Partner, Arbor Ventures; Leon Meng, Founding Managing Partner & Chairman, Ascendent Capital Partners; Frank Tang, Chairman and CEO, FountainVest Partners; Nisa Leung, Managing Partner, Qiming Venture Partners; Conrad Tsang, Founder and Chairman of Strategic Year Holdings; Wilfred Yiu, Deputy Chief Executive Officer, Hong Kong Exchanges and Clearing Limited; and Fred Hu, Founder of 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. The HKVCA is proud to facilitate dynamic discussions, foster lasting partnerships, and drive innovation among senior executives, industry experts, and emerging talent 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.”
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| Upcoming Events |
| Members only event | Limited Seats Available |
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| HKVCA Members Breakfast Meeting |
| Sponsor: |
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| Date: |
June 28, 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 |
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| Registration deadline: June 27, 2024, 15:00 HKT |
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| Please click here to review the Terms & Conditions before registration. |
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| Limited Seats Available |
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Middle Eastern Capital Raising Strategies
for Asian Fund Managers
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| Sponsored by |
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Asia's fund managers are increasingly looking to the Middle East, a region rich with
sovereign wealth funds, institutional investors, and family offices, as a key source for
raising capital. But how can you effectively navigate this landscape and align with
Middle Eastern investors' expectations?
A&O Shearman funds and regulatory specialists from Dubai, the US, and Asia will
provide valuable insights to help you harness Middle Eastern capital.
Our seminar will cover:
• Current market dynamics and investment trends in the Middle East
• Considerations for dealing with Middle Eastern Limited Partners (LPs)
• Compliance with Shari'a investment principles
• Marketing strategies within the Gulf Cooperation Council, focusing on regulatory compliance
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| Speakers: |
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Kamar Jaffer
Partner, Dubai,
A&O Shearman |
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Jodi Norman
Partner, Dubai,
A&O Shearman |
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Zeeshan Ahmedani
Partner, Los Angeles,
A&O Shearman |
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Lorna Chen
Co-Managing Partner of Greater China and Regional Co-Head of Funds & Asset Management, Hong Kong,
A&O Shearman |
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James Ford
Partner, Hong Kong,
A&O Shearman |
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| Date: |
June 26, 2024 (Wednesday) |
| Time: |
12:30 - 14:00 |
| Venue: |
A&O Shearman, 9F Three Exchange Square, Central |
| Fee: |
Corporate Full Member
1 free pass per company
additional passes: HK$250 per person |
Corporate Associate/Overseas (Full/Associate)/Individual Member
HK$250 per person |
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Non-Member
HK$650 per person |
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| CPT: |
0.5 point |
| CPD: |
0.5 point (HK, WA, NY CLE and CA CLE pending approval) |
| Dress code: |
Business Attire |
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| Registration deadline: June 25, 2024, 15:00 HKT |
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| Please click here to review the Terms & Conditions before registration. |
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| Event Reports |
| HKVCA D&I Event – Guided meditation with alchemy crystal bowls |
| Apr 10, 2024 |
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| 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.
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| HKVCA Luncheon Talk: Private equity and venture capital insights - valuation challenges and techniques |
| Apr 11, 2024 |
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| More than 60 participants joined the HKVCA on April 11, 2024, for a Luncheon Talk led by Alpha Tsang of Ernst & Young and Peter Alleston of S&P Global Market Intelligence. The discussion focused on the complexities and current methodologies used in valuing private equity and early-stage companies. The session also included a fireside chat on the risks and challenges in PEVC valuation. The HKVCA extends its thanks to the speakers and to S&P for sponsoring the event, which provided a valuable contribution to the ongoing education of our members. |
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| HKVCA Luncheon Talk: Investing in developed Asia markets amid risk and uncertainty |
| Apr 23, 2024 |
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| 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 how to navigate the complexities more typical of maturer markets. Highlighting the increasing shift by private equity toward Asia’s developed regions, in particular Japan, South Korea, and Australia, she noted their increasing popularity with investors 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... |
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| HKVCA Members Breakfast Meeting |
| May 3, 2024 |
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| The HKVCA held its latest Members Breakfast Meeting at the Hong Kong Club on May 3, 2024. Attendance at the event was especially strong with more than 60 members participating. The Association was also pleased to welcome several new members, who were able to introduce themselves and meet for the first time with their industry colleagues. The Breakfast Meeting continues to provide an excellent opportunity for networking among HKVCA members and we thank everyone for joining us at this valuable event. The HKVCA also extends its appreciation for the generous support of sponsor InvestHK. We look forward to seeing our members again at the next meeting. |
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| HKVCA Luncheon Talk: Empowering Women in Finance - Insights from Leaders in Private Equity |
| May 30, 2024 |
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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 close to 60 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.
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Supporting Events
Bloomberg Wealth Summit
June 5, 2024 |
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| HKVCA Research Journal - 10th Issue |
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| 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. |
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| New Members |
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| Corporate Full Members |
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| Partners Capital Asia Limited |
| Partners Capital is an outsourced investment office acting for distinguished endowments and foundations, senior investment professionals and prominent families across the globe. Whether working in an advisory or discretionary capacity, the firm works with clients in a highly integrated manner to develop a clear long-term investment strategy. They take responsibility for executing that strategy, including overall portfolio asset allocation, manager selection and portfolio implementation, as well as related operational aspects (including reporting). Partners Capital works with clients on their entire portfolio, only in certain circumstances, or only on a subset of their portfolio, usually focused on specialist or alternative asset classes. |
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| ZQ Capital Limited |
| ZQ Capital is a cross-border private equity firm founded in 2016 by Simon Shen. The firm is registered with the Hong Kong regulatory authorities and has investment professionals working across the region. To date, ZQ Capital has executed over USD 800 million of transactions, the majority of which are fully exited. ZQ Capital invests in late-stage companies that are market leaders in their "home country" (usually Western and/or developed markets) with good financial and operational fundamentals, but underdeveloped or underperforming Asian businesses.
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| Oversea Full Members |
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| Bee Alternatives Limited |
| Bee Alternatives Limited (BAL) is an independent manager that is dedicated to secondary private equity investment. The firm was incorporated in March 2021, is headquartered in Malaysia and has a Labuan Fund Manager licence. BAL is a pure-play, non-direct secondary focused on LP interest acquisitions and GP-led restructuring in primarily buyout and VC funds. Its capital allocation is up to 40% in Japan and 40% in Asia ex-Japan, with the remaining 20% in OECD North America and Europe. The firm is currently invested across its Fund 6, which is a c.USD 100 million fund. |
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| Corporate Associate Members |
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| Lazard Asia (Hong Kong) |
| Lazard is a respected name in global financial services, standing for excellence, integrity and innovation on behalf of clients. Founded in 1848, its mission is to provide trusted, independent financial advice and investment solutions to its clients, backed by the intellectual capital of the firm. During its more than 175-year history, it has built a global network of relationships with key decision makers in business, government and investing institutions. It operates as a local firm in local markets and serves clients with multinational resources and a global perspective.
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| Barclays Capital Asia Limited |
| With a vision to be the UK-centered leader in global finance, Barclays Capital Asia is a diversified bank with comprehensive UK consumer, corporate, and wealth and private banking franchises; a leading investment bank; and a strong, specialist US consumer bank. Through these five divisions, it works together for a better financial future for its customers, clients and communities. |
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| Regulatory Updates |
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| Meeting with Mandatory Provident Fund Schemes Authority (MPFA) |
| Representatives from the HKVCA’s Technical Committee met with the Mandatory Provident Fund Schemes Authority (MPFA) on May 16, 2024. The aim of the meeting was to discuss including private equity as part of Hong Kong’s MPF system, which would undoubtedly improve the performance of the retirement scheme. Pensions outside of Hong Kong, be they DC or DB, conventionally deploy capital into the private capital markets. The MPFA agreed it would expand the investment scope of the current scheme, and that private equity will be considered as its mid-term target. The HKVCA will continue its discussions with the HKSAR government. We encourage our members to share their views with us on this issue by contacting Alfred Lam at alam@hkvca.com.hk. |
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| Industry News |
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| Hong Kong Language AI Firm Fano Labs Fuels APAC Expansion with Series B Funding |
| May 2, 2024 |
| (Technode Global by Staff Writer) - Fano Labs, the Hong Kong provider of performance language artificial intelligence (AI) solutions, has on Thursday announced the successful closure of its Series B round... |
| (view full article) |
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| i2Cool Attracts Close to HKD100 Million in Series A Financing to Propel the Development of Green and Energy-Efficient Radiative Cooling Solutions |
| May 9, 2024 |
| (Press Release) - i2Cool, a company specializing in electricity-free cooling technology, has attracted nearly HKD100 million (USD13.8 million) in its Series A round financing from Trustar Capital (the private equity investment business under CITIC Capital Holdings Limited)... |
| (view full article) |
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| Hong Kong’s PAG Closes on $550m for First-Ever Renewable Energy Fund |
| May 20, 2024 |
| (Mingtiandi by Christopher Caillavet) - PAG on Monday announced the closing of its maiden fund focused on renewable energy, with the Hong Kong-based private equity firm having won $550 million in committed capital for the new vehicle...
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| (view full article) |
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Contact us at +852-2167-7518 or hkvca@hkvca.com.hk
Visit us at www.hkvca.com.hk
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©2024 HKVCA. All Rights Reserved. |
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