The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO. “Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But…
The head of Hong Kong’s government investment agency has been appointed as a director of a global organisation that brings together leading firms and investors, marking the first time a Chinese sovereign wealth fund has held a seat on the board. FCLTGlobal announced on Wednesday that Clara Chan Ka-chai, CEO of the Hong Kong Investment…
Hong Kong Investment Corporation (HKIC), the government’s investment arm, has teamed up with venture capital firm Gobi Partners and the University of Hong Kong (HKU) to launch a fund on Tuesday to invest in technology start-ups spun off from the university’s research breakthroughs, according to an HKIC statement. Gobi-HKU Fund I made two investments at…
Hong Kong’s government investment agency will take on a bigger role in attracting commercial property investment while advancing the establishment of an alliance focused on Chinese-developed RISC-V chips, as the financial secretary pledged additional funding to the corporation in Wednesday’s budget speech. The Hong Kong Investment Corporation (HKIC), which manages HK$62 billion (US$8 billion) in…
Hong Kong’s government-owned wealth fund has partnered with one of China’s leading artificial intelligence agencies to attract global talent to the city, as it strengthens its commitment to transform into a technology hub. The project aimed to “connect representatives from academic research, investment, industry and government sectors to [facilitate] cross-jurisdictional and cross-sectoral dialogue”, HKIC CEO…