Latest / IMI Podcasts / Hong Kong Appoints 4 CIES Fund Managers, Allocating HK$150 Million to Each

Transcript

Hong Kong Appoints 4 CIES Fund Managers, Allocating HK$150 Million to Each · IMI Podcasts

• 0:00
  SPEAKER_00: The Hong Kong Investment Corporation Limited, also known as HKIC, has announced its appointment of four fund managers to oversee at least$600 million Hong Kong dollars allocated from its capital investment entrance scheme, referred to as CIES.
• 0:17
  SPEAKER_00: HKIC had issued an open invitation for fund manager applications on November 27th with a December 31st deadline.
• 0:25
  SPEAKER_00: The four fund managers are BetaTron Venture Group, Inno Angel Fund, Mind Works Capital, and Radiant Tech Ventures.
• 0:32
  SPEAKER_00: They will each manage an equal share of the capital, quote, focusing on the low-altitude economy, Geron Technology, Smart Living Technologies, and technology-driven cultural and entertainment experiences, end quote.
• 0:45
  SPEAKER_00: HKIC said it chose these firms because they presented concrete Hong Kong development plans in their proposals and demonstrated clear investment strategies with proposed investment themes.
• 0:57
  SPEAKER_00: BOC WAN, Prudential Trustee, will serve as fund administrator.
• 1:03
  SPEAKER_00: KPMG oversaw the selection process with legal counsel from Clifford Chance.
• 1:09
  SPEAKER_00: The four fund managers specialize in technology investments across Asia.
• 1:14
  SPEAKER_00: Their combined portfolio spans early-stage startups, AI, healthcare, smart living, and deep tech solutions.
• 1:22
  SPEAKER_00: They manage investments ranging from$500,000 to multibillion assets.
• 1:29
  SPEAKER_00: HKIC will allocate the funds to each party during the first quarter of 2025.
• 1:35
  SPEAKER_00: In November, the government announced that the CIES had raised$2.5 billion from 670 applications since its relaunch in March.
• 1:46
  SPEAKER_00: The program requires applicants to invest$30 million Hong Kong dollars each.
• 1:51
  SPEAKER_00: $3 million Hong Kong doll from each investment flows into HKIC's investment portfolio.
• 1:57
  SPEAKER_00: SirenChen, International Marketing Department, and Program Research and Development Group head at Globavisa sees the step as a demonstration of the government's commitment to ensuring investments are channeled into sectors with long-term growth potential.
• 2:12
  SPEAKER_00: She notes that the high demand for the CIES prompted the government to seek optimal returns through professional fund management, advancing Hong Kong's development goals while potentially making the program more appealing to investors.
• 2:28
  SPEAKER_00: This episode first appeared as an article by Mustafa Daily on IMIDaily.com.
• 2:33
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 2:40
  SPEAKER_00: And upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.