Innovation and Technology Venture Fund (ITVF)


What is ITVF?

The Innovation and Technology Venture Fund (ITVF) aims to stimulate private investment in local innovation and technology (I&T) start-ups.

To facilitate administration of the ITVF, a company named “The Innovation and Technology Venture Fund Corporation” (ITVFC) has been set up to serve as a special-purpose vehicle for co-investing with venture capital (VC) funds selected as Co-investment Partners (CP) in local I&T start-ups at a matching investment ratio of approximately 1 to 2. ITVFC will be a passive investor, making direct investment in the start-ups concurrently with the CPs upon invitation of the latter. ITVFC will NOT accept applications or investment proposals submitted by individual start-ups directly.

For further background of ITVF, please refer to FCR(2016-17)67 submitted to the Finance Committee of the Legislative Council.

To learn more about ITVF, please see ITVF FAQ.


Eligibility of local I&T start-ups for co-investment

A local I&T start-up under the recommendation of the CP should meet the following eligibility-

  1. it was incorporated under the Companies Ordinance within the last seven years with one of its offices (headquarters or regional office) or its main business operation or its key management or leadership team being located in Hong Kong;
  2. it and its subsidiar(ies) (if any) have been engaging in I&T business, covering any part of the research and development or production chain in Hong Kong; and
  3. it and its subsidiar(ies) (if any) have a total number of employees (including Hong Kong and overseas offices) being less than 250.

New Round of Applications for Co-investment Partners

The ITVF is now open for new round of applications by VC funds. The application deadline is 31 March 2020. A briefing session will be held on 19 February 2020. Interested VC funds are welcome to attend. Relevant application information and details for the briefing session are available under ITVF - New Round of Applications for Co-investment Partners.


Other useful information

List of Members in the ITVF Advisory Committee

List of Co-investment Partners

Investment Portfolio



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