Rabu, 06 November 2019 05:45:00
Cyberport Venture Capital Forum 2019 Fuels the Rise in Corporate Venture Funding
Cyberport Investors Network raises over HK$360million for start-ups
HONG KONG, RIAUONE.com - 5 Nov 2019 - Cyberport's landmark tech investment event, the Cyberport Venture Capital Forum (CVCF), officially kicked off today. Its two-day programme featured over 40 leading industry leaders, investors, tech start-ups as well as rising stars from the Cyberport community.
The first day of the event was packed with a plethora of illuminating keynotes and panel discussions which addressed the overarching theme of "New Frontier of Tech Venturing" and uncovered the latest trends in the tech venture capital market. The forum also officially announced the outstanding achievements of the Cyberport Investors Network (CIN) over the past two years which raised up to HK$360 million of funds for its start-ups.
Nicholas Yang, Secretary for Innovation and Technology of the Hong Kong SAR, Dr George Lam, Chairman of Cyberport, Mr Peter Yan, CEO of Cyberport, Mr Duncan Chiu, Chairman of Steering Group of the CIN, and the new Chairperson, Mrs Cindy Chow officiated the forum's opening ceremony together.
Dr George Lam: Hong Kong's technological development to grow and thrive despite obstacles
In his welcome remarks, Dr George Lam, Chairman of Cyberport, expressed his confidence in the venture capital market in Hong Kong. "Despite the impact brought on by the macro environment, the rapid development of technology and digital transformation in Asia has not slowed down.
The Cyberport Macro Fund has invested HK$106 million in 14 start-ups, and has brought in close to HK$500 million in co-investments since its launch. This brings the total amount of investments in start-ups to more than HK$600 million, which exemplifies the strength and potential of Hong Kong's start-ups. Facing the challenges ahead, I believe Hong Kong's development in innovation and technology will continue to march forward while seizing new opportunities arising from the Greater Bay Area."
Bridging Investors and Start-ups
CVCF also marked the second anniversary of CIN which has built a network of over 100 investors, including venture capital funds, private equity, angel investments and family investment offices.
The forum celebrated CIN's success in raising an aggregated amount of HK$360 million for the Cyberport community and successfully matching 26 partnerships throughout the past two years. Mrs Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, officially succeeded Mr Duncan Chiu, Co-Founder and Managing Director of Radiant Venture Capital, as the new steering group chairperson of the CIN at the forum.
Mr Duncan Chiu, Chairman of Steering Group of the CIN said, "Beyond the heartening progress we've made in investments, this year we were successful in bringing in more investors from the Greater Bay Area, increasing the total number to over 20. We believe this will stimulate deal flow and help our local start-ups tapping into the Greater Bay Area market, all while promoting synergy and development within the region's technology ecosystem."
Mrs Cindy Chow, the new Chairperson of the CIN, expects the Network to experience continued growth and promote synergy between more start-ups and member investors, further stimulating the start-up investment landscape, all while driving new impetus in the local venture capital market. (roc/red/*) #for information on collaboration publications, questions and other e-mails firstname.lastname@example.org
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