Five new co-investment partners for I&T fund introduced

They assessed the venture capital fund’s capabilities.
 
The Innovation & Technology Venture Fund has five new co-investment partners after scrutinising 15 applications, the government announced.
 
Its identified partners are Beyond Ventures II Fund LP, BitRock Capital Fund II, LP, BVG IV LP, ORI Healthcare Fund II, LP, and Transcend Capital Partners II LP.
 
“The remaining selected partners will be announced later,” the government said in its issued statement.
 
Selection of these partners were based on assessment criteria which include venture capital fund’s capability, investment strategy and performance, management team’s expertise and experience and local network and resources, and the advice of the fund’s advisory committee.
 
This fund was established to urge venture capital investment in local I&T startups and to improve the I&T ecosystem in Hong Kong.
 
So far, the government co-invested in 27 local startups. The investment totalled around $200m, and attracted around $1.7b of private investment.

These I&T startups include supply chain management, e-commerce, financial technology, biotechnology and artificial intelligence.