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Events

Recent Events Report

HKVCA 4th Hong Kong Venture Capital Forum
10 July 2017

The fourth annual Hong Kong Venture Capital Forum (HKVCF), organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA), was held on Monday, July 10, 2017. Hosted at KPMG’s impressive conference rooms at Hysan Place, the Forum proved to be an overwhelming success with over 230 industry professionals in attendance.
   
Welcoming remarks were given by Darren Bowdern, Partner, Tax, KPMG Hong Kong, while a highly memorable keynote address was delivered by Matt Dill, Senior Vice President for Innovation and Strategic Partnerships at Visa.
  
The first panel of the day discussed India and featured Varun Bery, Senior Advisor at Latitude Capital; Annand Prasanna, Managing Partner at Iron Pillar; Amit Annand, Founding Partner at Jungle Ventures; and Ben Mathias, Managing Director and Head of India at Vertex Ventures.  
   
The second panel discussed venture investment trends in ASEAN and featured KO Chia, Director at Grace Financial; Amit Anand, Founding Partner at Jungle Ventures; Kay-Mok Ku, Partner at Gobi Ventures; Peng Ong, Managing Director at Monk’s Hill Ventures; Markus Gnirck, Co-founder and Managing Director at tryb Capital; and Jeffrey Chi, Vice Chairman at Vickers Venture Partners.  
     
The third panel of the afternoon focused on Japan and Korea and featured a lively discussion with Melissa Guzy, Co-founder and Managing Partner at Arbor Ventures; Han Kim, Managing Director at Altos Ventures; Emre Yuasa, Principal at Globis Capital Partners; Yo Nakagawa, Executive Director at Monex Group; and Ben Takeuchi, Vice President at Sumitomo Corporation Equity Asia.
   
The fourth panel focused on technical issues in Hong Kong and featured James Savage, Founding Partner at Demetr Ventures; Darren Bowdern, Partner, Tax at KPMG Hong Kong; Rocky Lee, International Partner and Head of the U.S. Corporate Practice at King & Wood Mallesons; and Stephen Tang, CFO at Lunar Capital.
   
The final panel examined LP sentiment and featured Eric Mason, Managing Director – Asia Investment at The Church Pension Fund; PV Wang, Co-CIO at Noah Holdings; Jie Gong, Partner at Pantheon Ventures; and Pokman Yiu, Executive Director at Royal Fund Management.
    
In addition to the panels, the Forum also featured a fireside chat with Annie Choi, Commissioner for Innovation and Technology of the HKSAR, and Denis Tse, Managing Partner at Asia-IO Advisors, discussing the latest on Hong Kong’s Innovation and Technology Venture Fund (see article on the following page). There was also a so-called “lightning round” featuring Hong Kong startup and venture capitalist Duncan Chiu, Managing Partner at Radiant Venture Capital, and Steven Lam, Co-founder and CEO at GoGoVan.
   
The Forum ended with a cocktail reception hosted by sponsor KPMG where the participants - investors, advisors and entrepreneurs – were able to enjoy a valuable networking opportunity.  
   
We would like to sincerely thank our generous sponsors, specifically our Platinum Sponsor, KPMG, and our Venture Forum Sponsor, King & Wood Mallesons. Finally, we would like to thank the Association’s Venture Committee and all the participants for their continued support that helped make this special event possible.

Click here to visit photo album.
Video Highlights can be viewed here.

HKVCA Members Breakfast Meeting
7 July 2017

The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 7 July, 2017. The event attracted over 80 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the sponsorship of Akin Gump Strauss Hauer & Feld to whom we would like to extend our sincere thanks for their sponsorship and help in making this terrific networking event possible.

HKVCA Brownbag Luncehon Talk
Going IPO? ESG practice matters in Hong Kong listing!

27 June 2017

The HKVCA hosted its latest brownbag luncheon talk on 27 June, 2017 at HKEX’s Exchange Auditorium. Alvin Lam, Senior Managing Director of CVC; Brian Ho, China Sustainability Leader – Climate Change and Sustainability Services of EY; Hauman Yeung, Director of Ascent Partners Advisory Service; Jamie Allen, Secretary General of Asia Corporate Governance Association; Jeanne Ng, Director – Group Sustainability, CLP Power; and Katherine Ng, Head of Policy - Listing Department of HKEX, discussed the latest trends and challenges in the approach of Hong Kong listed companies to ESG. The speakers also discussed HKEX’s ESG reporting requirements, objectives and process. At the end of the panel discussion, Jeanne Ng shared CLP’s own ESG approach and integrated reporting with the audience.

The HKVCA and the ESG Committee were very pleased that as many as 80 members attended the luncheon talk and were able to take the opportunity to meet and network with their colleagues. We would like to thank all the participants, and especially our venue sponsor, HKEX, whose ongoing support has proved invaluable.

HKVCA Luncehon Seminar 
India Regulatory Update

21 June 2017

The HKVCA hosted a luncheon seminar on 21 June, 2017 at the China Club. Kartick Maheshwari and Siddharth Shah, Partners at Khaitan & Co, provided attendees with an update on Indian regulatory and taxation issues, including those related to distress and special situation investments, downside protection and tax structuring for Indian investments. As part of their presentation, Kartick and Siddharth referred to a number of recent rulings of the Indian courts dealing with the recognition of assured return structures in India. 

More than 60 HKVCA members attended the luncheon talk and we would like to thank all the participants, and especially our sponsor, Khaitan & Co, for their generous support of this popular event.

HKVCA Masterclass: The Use of Segregated Portfolio Companies in the Establishment of Private Equity Funds
8 June 2017

An HKVCA Masterclass, providing in-depth practical learning on the use of segregated portfolio companies (SPCs) in the establishment of private equity funds, was held on 8 June, 2017, at the office of international law firm Akin Gump Strauss Hauer & Feld in Central. The very technical discussion was led by two speakers from the firm: Anne-Marie Godfrey, Partner, and Chris Knight, Counsel. Among the topics examined was an overview of the structure of SPCs; the pros and cons of using SPCs for PE fund; the recommendations from ILPA; and how to deal with drawdown, distributing waterfalls, clawbacks, co-investments as well as other provisions. We would like to thank Akin Gump Strauss Hauer & Feld for their support of this event in our important Masterclass series.

HKVCA Members Breakfast Meeting
2 June 2017
The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 2 June, 2017. The event was attracted around 70 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the sponsorship of Ernst & Young (EY) to whom we would like to extend our sincere thanks for their continued support and help in making this terrific networking event possible for our members. 
HKVCA 16th China Private Equity Summit
26 May 2017

The Hong Kong Venture Capital and Private Equity Association’s 16th China Private Equity Summit (CPES) was held on 26 May, 2017 at the Hong Kong Convention and Exhibition Centre. The theme of this year's event focused on the liquidity and regulatory uncertainties, as well as outbound transactions opportunities, and featured more than 50 expert speakers and panelists representing general partners, limited partners and advisors. The Forum attracted over 500 delegates, of which more than half were senior level and C-suite executives.      
    
As it has in previous years, the 2017 Summit brought together a diverse and experienced group of private equity and venture capital practitioners who invest across all stages and segments onshore and offshore China, including direct investing, secondaries and co-investments. Among the topics discussed as part of the event’s programme were the key issues emerging in terms of investor sentiment, fund mangers’ preferences, buyouts, RMB funds, China capital markets and cross-border investments.  There was also discussion of current trends in the media and entertainment sectors and China's transition to a new economy.
   
As this is the year in which the HKVCA commemorates the 30th anniversary of its founding, the Summit also provided the Association with a tremendous opportunity to reaffirm its commitment to extending its reach to all sectors of the profession. Among the distinguished guests who participated in CPES 2017 were Professor K C Chan, Secretary for Financial Services and the Treasury, Hong Kong SAR; Charles Li, Chief Executive, HKEX; Lei Cai, Chairman, JD Capital; Eric Mason, Managing Director, The Church Pension Fund; Wendy Zhu, Managing Director, AlpInvest; and Yan Liu, Chairman, Beijing Tianxing Capital Company.
       
We are proud that the China Private Equity Summit has come to be seen as an indispensable platform for practitioners to meet not only their peers, but also government representatives and professional colleagues from other industry associations across the globe. We would like to thank our extremely knowledgeable audience of attendees, many of whom traveled from around the region and overseas. Our most sincere appreciation extends also to our valuable media partners and supporting organizations, and, finally, to our generous sponsors, whose substantial contributions and support made the event not only possible, but indeed hugely successful. 

CPES website: http://cpes.hkvca.com.hk/cpes-2017/

HKVCA Members Breakfast Meeting
12 May 2017

The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 12 May, 2017. The event was attracted close to 70 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the sponsorship of Richful Deyong to whom we would like to extend our sincere thanks for their continued support and help in making this terrific networking event possible for our members. 

HKVCA Brownbag Luncheon Talk
20 April 2017

The HKVCA hosted its latest brownbag luncheon talk on 20 April 2017 at Deloitte’s offices. Professor Kenneth Lee, Chief of the School of Biomedical Science at The Chinese University of Hong Kong; Judith Li, Partner at Lilly Asia Ventures; and Bosun Hau, Sailing Capital’s Managing Director and Partner, discussed the latest trends in biotechnology, in particular the various applications for stem cell technology and the outlook for 3D bioprinting. Bosun and Judith also shared their thoughts on current investment sentiment in the healthcare space as well as the strength of the biotechnology and pharmaceutical sectors across geographies.

The HKVCA and the Education Committee is very pleased that as many as 70 members attended the luncheon talk and were also able to take the opportunity to meet and network with their colleagues. We would like to thank all the participants, and especially our venue sponsor, Deloitte, whose support made this event possible.

HKVCA Members Breakfast Meeting
7 April 2017
The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 7 April, 2017. The event was attracted over 70 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the sponsorship of KPMG to whom we would like to extend our sincere thanks for their continued support and help in making this terrific networking event possible for our members. 
HKVCA LP Luncheon
30 March 2017

The HKVCA’s LP Committee hosted its latest LP only luncheon on 30th March 2017 at the Hong Kong Club. Wendy Zhu, Managing Director of AlpInvest Partners; Denise Mak, Managing Director of CVC; Terrance Philips, Managing Director of Citigroup Global Markets Asia; Janet Cheung, Partner and Head of Valuations and Modelling at KPMG; and Alice Chan, Head of Asia Private Equity Services at Silicon Valley Bank, discussed the current trends and overall environment of fund level leverage in Asia. The speakers stressed that operating efficiently was a  major factor determining which leverage level would enhance the overall IRR as well as limit the J-curve effect so it is less subject to currency risk and other negative criteria. The speakers also addressed the recent appetite of lenders operating in the market. 

The HKVCA and the LP Committee were especially pleased that more than 25 LP representatives attended this informative event where they also had a valuable opportunity to meet and network with their colleagues. We would like to thank all the participants who helped make this event a great success and especially our sponsor, KPMG, whose enthusiastic support made the event possible.

HKVCA Young Professionals Mixer 2017
23 March 2017
The HKVCA’s Young Professional Committee held a mixer event on March 23, 2017 at Bungalow in Lan Kwai Fong. This popular event, which has always provided attendees with valuable networking opportunities in a fun and social setting, is aimed specifically at our younger members. More than 70 young professionals participated, representing a broad range of sectors from within the private equity and venture capital industries. The HKVCA extends its most sincere appreciation to the sponsor of this event, Clifford Chance, and to all participants who together made the evening one to remember.
HKVCA Brownbag Luncheon Talk
23 March 2017
The HKVCA hosted its latest brownbag luncheon talk on 23 March 2017 at EY’s offices. David Chan, EY’s Managing Partner of Tax Hong Kong and Macau and Head of Transaction Tax Greater China; Edvard Rinck, Partner and leader of EY’s Operating Model Effectiveness practice; and Elienne de Vries, Senior Manager in EY’s Operating Model Effectiveness practice, discussed key operational and tax optimization strategies that can be utilized in a portfolio company’s operations supporting growth and raising enterprise value. They also provided insight into certain “quick win” changes that can be introduced to operating model designs, including distribution, procurement, tax incentives and structures, R&D, manufacturing and other value added services.
 
The HKVCA and the Education Committee were very pleased that so many members were able to take the time from their busy schedules to attend the lunch and network with their colleagues. We would like to thank all the participants, and especially our sponsor, EY, whose support made this event possible.
HKVCA Members Breakfast Meeting
10 March 2017
The HKVCA's monthly breakfast meeting was held at the Hong Kong Club on Friday, 10 March, 2017. The event was oversubscribed, with over 80 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners. This month's breakfast would not have been possible without the sponsorship of I-On Asia to whom we would like to extend our sincere thanks for their continued support and help in making this terrific networking event possible for our members. 
HKVCA Annual Golf Day 2017
3 March 2017

The HKVCA held its Annual Golf Day on Friday, March 3rd, 2017. The event was a tremendous success with perfect weather bringing blue skies and a brilliant sunny day. A record number of golfers teed off at the Hong Kong Golf Club in Fanling and the event itself drew over 90 attendees, including non-golfers. Participants also enjoyed a delicious lunch and a valuable opportunity to network with their peers both on and off the course.
 
We would like to thank our generous sponsors, specifically our Platinum Sponsors Citi, Morgan Stanley and White & Case; our Gold Sponsors Ernst & Young and Lexington Partners; our Silver Sponsor, Mercedes-Benz; our Watch Sponsor, Oriental Watch Holdings Limited; our Breakfast Sponsor, Aon; and our Wine Sponsor, BlackPine. We would also like to thank the HKVCA’s Golf Committee - Varun Bery, Chin Chou, Bob Partridge, Sunil Chandiramani and Adam Goern - for their support and leadership.
 
We are especially proud to be able to report that we raised HK$25,000 dollars for the Hong Kong Society for the Protection of Children. Our special thanks to all the participants for their continued support and contributions and the hardworking HKVCA team that helped make this special event possible.
     

Course Competitions Winner
Champions Kirk Beaton
X. D. Yang
James Redmayne
Lee Chul Joo
1st Runners-Up Martin Crawford
Varun Bery
Ravi Mehrotra
Sunil Chandiramani
2nd Runners-Up Anthony Chan
Alex Wu
Adam Goern
Lee Yu Chuan
Straightest Drive – Hole #4 Tim Huang
Closest to the Pin – Hole #2 Martin Crawford
Closest to the Pin – Hole #8 David Chan
Closest to the Pin – Hole #17 Sunil Chandiramani


More photos can be viewed here.

HKVCA Family Office Luncheon
23 February 2017   

The HKVCA’s Family Office Committee hosted its latest family office only luncheon on 23 February, 2017 at the China Club. K.O. Chia, Chair of the Committee, provided an introduction to the HKVCA as an organization and discussed the Association's initiatives and aims in establishing  the Family Office Committee. Attendees were then encouraged to join in and share their own experiences and interests, including those of the family offices they are associated with and the types of investments they have an interest in - alternative asset classes, the various sectors of private equity and so forth. Also discussed were which topics attendees might be interested in exploring at future family office gatherings. 

The HKVCA and the Family Office Committee were especially pleased that 19 family office representatives were able to find time from their busy schedules to attend the lunch and to network with their colleagues. We would like to thank the Committee and all the participants who helped to make this event a great success.   

HKVCA Asia Private Equity Forum 2017
18 January 2017
The Hong Kong Venture Capital and Private Equity Association’s (HKVCA) annual Asia Private Equity Forum (APEF) was held on 18 January, 2017 at the Hong Kong Convention and Exhibition Centre. The theme of this year's event focused on the many challenges but also opportunities that exist for value creation within the industry, and featured more than 80 expert speakers and panelists representing general partners, limited partners and advisors. The Forum attracted over 650 delegates, of which more than half were senior level and C-suite executives.      
   
As it has in previous years, the 2017 Forum brought together a diverse and experienced groups of private equity and venture capital practitioners who invest across all stages and geographies in Asia, 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 also discussion on the current issues facing investors in private markets in the making, managing and exiting of investments across the key markets of Asia, and the important role that Asia continues to play in the global market.
 
As this is the year in which the HKVCA commemorates the 30th anniversary of its founding, the Forum also provided the Association with a tremendous opportunity to reaffirm its commitment to extending its reach to all sectors of the profession. Among the distinguished guests who participated in APEF 2017 were Paul Chan Mo-po, GBS, MH, JP, Financial Secretary of the Hong Kong SAR; Martin Mok, Partner and Head of Asia of EQT Partners; Jean Salata, Chief Executive and Founding Partner of Baring Private Equity Asia; and Ming Lu, Head of Asia Private Equity for KKR.
      
We are proud that the Asia Private Equity Forum has come to be seen as an indispensable platform for practitioners to meet not only their peers, but also government representatives and professional colleagues from other industry associations across the globe. We would like to thank our extremely knowledgeable audience of attendees, many of whom traveled from around the region and overseas. Our most sincere appreciation extends also to our valuable media partners and supporting organizations, and, finally, to our generous sponsors, whose substantial contributions and support made the event not only possible, but indeed hugely successful. 

Please click here for Mr Paul Chan's speech.      
    
Media coverage can be viewed here.     
      
More photos can be viewed here.
    
Video highlights can be viewed here.
HKVCA Gala Dinner 2017
17 January 2017

The HKVCA held its Gala Dinner 2017 on the evening of Tuesday, 17 January. This popular annual event, which this year was sold out, had more than 200 attendees who gathered at the elegant Hong Kong Country Club to enjoy an evening of great food and excellent entertainment. Each of the tables at the dinner featured creative and colorful decorations incorporating themed figures representing the festivities associated with the upcoming Chinese New Year of the Rooster. The evening’s entertainment was perhaps the major highlight of the night, with a unique yet totally captivating performance delivered by a group of students from Kings College Hong Kong who each played the harmonica. The HKVCA was pleased to be able to make a donation to support the young musicians dedicated to the development of this often overlooked instrument. The evening also featured a presentation outlining the HKVCA’s 2016 activities and outstanding achievements throughout the year. We would like to extend our special thanks to our cocktail sponsors, King & Wood Mallesons and MVision, for supporting this tremendously successful event. Our thanks also to all participants who helped to make our annual dinner a most unforgettable and wonderful night.   

More photos can be viewed here.

AFF Deal Flow Matchmaking Session
17 January 2017
The AFF Deal Flow Matchmaking Session was successfully held on the second day of the Asian Financial Forum (17 January 2017). More than 1,000 companies have taken part in this deal sourcing and matchmaking session over the years, including investment project owners, corporate investors, high net worth individuals, and senior professionals from intermediaries and professional services providers. This unique deal-sourcing and matchmaking session co-organised by the Hong Kong Venture Capital and Private Equity Association and the Hong Kong Trade Development Council, connected sources of funds with sources of deals with enabled participants to meet with potential business partners from around the world, based on their shared areas of interest. More than 160 investors, 300 project owners and 600 meetings took part this year representing a number of different sectors, including agriculture, biotechnology, consumer, construction, food and beverage, healthcare, infrastructure, medical, real estate, technology and PE/VC funds.  
HKVCA Members Breakfast Meeting
6 January 2017

The HKVCA monthly breakfast meeting was held at the Hong Kong Club on Friday, 6 January. The event was oversubscribed, with more than 70 members taking full advantage of the opportunity to network and reconnect with their fellow industry practitioners after the end of year festivities. To commemorate this first breakfast meeting of 2017, the HKVCA conducted an informal and fun poll surveying members’ views on the outlook for the global and Chinese markets in 2017, as well as who they believed would be the next chief executive of Hong Kong. The results of the very unscientific poll were best described as being “positive”.

This month's breakfast would not have been possible without the sponsorship of Intertrust to whom we would like to extend our sincere thanks for their continued support and help in making this terrific networking event possible for our members. We of course also wish each and every one a very happy New Year and best wishes for 2017.