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 -

  1. having an investment focus in I&T start-ups;
  2. having an investment coverage including Hong Kong;
  3. having a minimum remaining committed capital of HK$120 million (Note 2); and
  4. 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.


Selection criteria

The selection of CPs will be based on the following criteria:

  1. General background of the Fund
  2. Personnel
  3. Investment strategy and processes
  4. Investment performance
  5. 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 (itvf-enquiry@itc.gov.hk) 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.


Briefing session

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 itvf-enquiry@itc.gov.hk by noon, 27 February.

  1. Name of company;
  2. Details of each participant including name, title and email address; and
  3. A brief description of your fund.


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