ITVF - New Round of Applications for Co-investment Partners
Eligibility of Venture Capital (VC) funds as our Co-investment Partners (CP)
A VC fund, whether incorporated in Hong Kong or overseas (Note 1) and whether a newly established or an existing fund, is welcome to apply for selection as a CP if it meets the following criteria -
- having an investment focus in I&T start-ups;
- having an investment coverage including Hong Kong;
- having a minimum remaining committed capital of HK$120 million (Note 2); and
- having a remaining fund life of at least five years to co-invest with the ITVFC.
Note 1: Upon selection as a CP, the VC fund concerned should have a place of business in Hong Kong to facilitate communication with local I&T start-ups and the ITVFC.
Note 2: Upon selection as a CP, the VC fund concerned must provide documents to prove its minimum remaining committed capital of HK$120 million at the time of signing the master agreement with the Government.
Please note that ITVFC will NOT accept applications or investment proposals submitted by individual start-ups direct.
The selection of CPs will be based on the following criteria:
- General background of the Fund
- Investment strategy and processes
- Investment performance
- Local presence and support
Please refer to “Guidelines For Application As Co-investment Partner” for details.
How to apply?
Interested VC funds which fulfill the criteria above may submit a proposal to the ITVF Secretariat. Please refer to “Guidelines For Application As Co-investment Partner” for details.
A proposal (with a template provided) together with relevant supporting documents should be submitted to the ITVF Secretariat on or before March 31, 2020 (i) by email (firstname.lastname@example.org) which should be titled “Application as Co-investment Partner (2020)”; or (ii) by hand to the drop-in box of the Innovation and Technology Commission located at the Staff Entrance, 2/F., East Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong.
In view of the novel coronavirus outbreak, the briefing session originally scheduled for 19 February 2020 has been cancelled. A web-based briefing session will be conducted –
Date: 28 February 2020 (Friday)
Time: 10:00 am – 11:30 am
To register, please email the following information to email@example.com by noon, 27 February.
- Name of company;
- Details of each participant including name, title and email address; and
- A brief description of your fund.