Hony Capital-backed Beyond Ventures becomes co-investment partner for ITVF

Hong Kong-based Beyond Ventures has become one of the co-investment partners to the Innovation and Technology Venture Fund (ITVF), a vehicle launched to encourage private investment in local technology start-ups.

By becoming an ITVF investment partner, Beyond Ventures can draw up to HK$1.2 billion ($153 million) to invest in local innovation and technology startups. The maximum amount for each co-investment partner is capped at HK$400 million ($60 million), according to a statement.

This will enable Beyond Ventures to help Hong Kong startups grow and extend their business networks throughout China, other parts of Asia and around the world.

“The ITVF is one of many initiatives the HKSAR Government has launched to bring about a more vibrant innovation and technology ecosystem in Hong Kong, while harnessing venture capital expertise to help out,” said Lap Man, Co-Founder and Managing Partner of Beyond Ventures.

Beyond Ventures is a new venture capital fund backed by China’s Hony Capital which manages more than $10 billion in assets.

The sharpest areas of focus for Beyond Ventures are technology, media and telecommunications, as well as biotech, artificial intelligence and health care.

In June, the Hong Kong-based VC firm partnered with Brizan Investments to jointly invest $10 million into ePropulsion Innovation, a provider of electric propulsion kits.

The HKSAR Government’s 2016 Policy Address announced an intention to set aside HK$2 billion ($255 million) to establish the ITVF, with the aim of encouraging venture capital funds to invest in technology start-ups. ITVF funding was approved by the Finance Committee of the Legislative Council on 12 July 2016.

Also Read: 

Hony Capital-backed Beyond Ventures joins $10m round of HK’s ePropulsion

Alibaba, Beyond Ventures lead $40m funding round in genetic testing startup Prenetics 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.