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Fundraising of the Year - Venture Capital

This Award pays tribute to the fundraising exercise of a US dollar-denominated venture capital vehicle in Asia.

Requirements: Candidates are expected to exhibit speed, skill, and innovation in their raising, as well as quality and breadth of the fund's investor base, excess generated interest, and closure on or above the target, supported by effective and transparent investor relations with LPs.  Total amount raised by a fund, while counting in the Award criteria, is not the only benchmark.

Fundraising of the Year - Mid Cap

This Award pays tribute to the fundraising exercise of a US dollar-denominated mid-cap vehicle in Asia, of under $2 billion in size.

Requirements: Candidates are expected to exhibit speed, skill, and innovation in their raising, as well as quality and breadth of the fund's investor base, excess generated interest, and closure on or above the target, supported by effective and transparent investor relations with LPs.  Total amount raised by a fund, while counting in the Award criteria, is not the only benchmark.

Fundraising of the Year - Large Cap

This Award pays tribute to the fundraising exercise of a US dollar-denominated vehicle in Asia, of $2 billion and above in size.

Requirements: Candidates are expected to exhibit speed, skill, and innovation in their raising, as well as quality and breadth of the fund's investor base, excess generated interest, and closure on or above the target, supported by effective and transparent investor relations with LPs.  Total amount raised by a fund, while counting in the Award criteria, is not the only benchmark.

Deal of the Year - Small Cap 

This Award recognizes an early- to growth-stage or buyout investment in an Asia-based business, with an equity commitment below $50 million.

Requirements: Candidates should provide evidence of innovative sourcing, strong due diligence, productive engagement with entrepreneurs and promoters, and an ability to understand emerging technologies and business models where appropriate. Alignment of interests with relevant stakeholders and preparations for post-investment value add will also be considered. The sheer dollar value of a deal, while counting in the Award criteria,  is not the only benchmark.

Deal of the Year - Mid Cap 

This Award recognizes a growth capital or buyout investment in an Asia-based business, with an equity commitment of $50 million to $199 million.

Requirements: Candidates should provide evidence of innovative sourcing, strong due diligence, productive engagement with entrepreneurs and promoters, sophisticated structuring, and effective use of leveraged financing where appropriate. Alignment of interests with relevant stakeholders and preparations for post-investment value add will also be considered. Sheer dollar value of a deal, while counting in the Award criteria, is not the only benchmark.

Deal of the Year - Large Cap 

This Award recognizes a growth capital or buyout investment in an Asia-based business, with an equity commitment of $200 million or above.

Requirements: Candidates should provide evidence of innovative sourcing, strong due diligence, productive engagement with entrepreneurs and promoters, sophisticated structuring, and effective use of leveraged financing where appropriate. Alignment of interests with relevant stakeholders and preparations for post-investment value add will also be considered. Sheer dollar value of a deal, while counting in the Award criteria, is not the only benchmark.

Exit of the Year - IPO 

This Award honors a liquidity event via IPO of an Asia-based portfolio company that has resulted in substantial actual or paper returns to investors.

Requirements: Candidates should be able to provide evidence of projected IRR and returns multiples based on valuation both at the date of listing and date of Awards submission. For offerings that resulted in actual realizations, information on delivery of proceeds to LPs would be useful.  Details regarding the choice of exchange, transaction coordination, and structuring,  and management of regulatory issues are also important.

Exit of the Year - Small Cap

This Award honors the successful exit of an Asia-based portfolio company that has resulted in substantial returns to investors, with an equity commitment on an entry below $50 million.

Requirements: Candidates should be able to provide evidence of IRR and returns multiples, which will count more than the overall exit value. Details regarding the choice of exit, transaction coordination and structuring, management of regulatory issues, and delivery of proceeds to LPs are also important. Information on auction processes are relevant to trade sales, while issues such as lock-up periods and the proportion of stake exited will be considered for public market deals.

Exit of the Year - Mid Cap

This Award honors the successful exit of an Asia-based portfolio company that has resulted in substantial returns to investors, with an equity commitment on entry of $50 million to $149 million.

Requirements: Candidates should be able to provide evidence of IRR and returns multiples, which will count more than the overall exit value. Details regarding the choice of exit, transaction coordination and structuring, management of regulatory issues, and delivery of proceeds to LPs are also important. Information on auction processes are relevant to trade sales, while issues such as lock-up periods and the proportion of stake exited will be considered for public market deals.

Exit of the Year - Large Cap

This Award honors the successful exit of an Asia-based portfolio company that has resulted in substantial returns to investors, with an equity commitment on entry of $150 million or above.

Requirements: Candidates should be able to provide evidence of IRR and returns multiples, which will count more than the overall exit value. Details regarding the choice of exit, transaction coordination and structuring, management of regulatory issues, and delivery of proceeds to LPs are also important. Information on auction processes are relevant to trade sales, while issues such as lock-up periods and the proportion of stake exited will be considered for public market deals.

Responsible Investment Award

This Award recognizes outstanding environment, social, and governance practices in an Asia-based business.

Requirements: Candidates should provide evidence of how an ESG policy has been developed at the GP-level and implemented at the portfolio company level. This may cover the role ESG played in due diligence and post-investment planning, how it features in day-to-day commercial activities and stakeholder engagement efforts. Information on how the progress of ESG initiatives is measured and reported – and data points that capture their success – would also be useful. Only portfolio companies that are active investments or have been exited during the qualification period will be considered.

Note: The Responsible Investment Award is given at the discretion of the AVCJ Editorial Board and the expert judging panel, based on submissions from the private equity community.

Operational Value Add Award 

This Award recognizes private equity-driven value creation in an Asia-based business.

Requirements: Candidates should provide evidence of operational value add through a combination of measures, which may include IRR  and returns multiples (for fully or partially exited businesses), revenue and  EBITDA growth, business expansion in terms of market share, product range and geography, and improvements in efficiency and governance. For non-control investments, candidates should provide supplementary evidence of their direct contribution to performance improvement. Only portfolio companies that are active investments or have been exited during the qualification period will be considered.

Note: The Operational Value Add Award is given at the discretion of the AVCJ Editorial Board and the expert judging panel, based on submissions from the private equity community.

Firm of the Year – Mid Cap

This Award honors the year's outstanding private equity firm engaged in buyout, growth capital or venture investment in Asia, with total US dollar-denominated assets under management of up to $5 billion.

Requirements: Candidates should provide evidence of a stable and capable team of professionals, demonstrable exits, success in fundraising, defined investment strategy, sustained policy on alignment or control issues, effective due diligence on investments, and good returns to  LPs. The firm's significance in Asia, involvement in broader industry and community issues, relations with regulators and policy-makers, will also count.

Firm of the Year – Large Cap

This Award honors the year's outstanding private equity firm engaged in the buyout, growth capital or venture investment in Asia, with total US dollar-denominated assets under management of more than $5 billion

Requirements: Candidates should provide evidence of a stable and capable team of professionals, demonstrable exits, success in fundraising, defined investment strategy, sustained policy on alignment or control issues, effective due diligence on investments, and good returns to  LPs. The firm's significance in Asia, involvement in broader industry and community issues, relations with regulators and policy-makers, will also count.

AVCJ Special Achievement Award 

This Special Award recognizes an Asia-focused investor who has distinguished himself or herself over a long period of time in facilitating the growth of the private equity and venture capital industry.

Requirements: Candidates should be able to produce evidence of supporting the industry's development and maturation, of observing high professional standards of integrity, and of acting as a spokesperson and public representative of the industry.

Note: The AVCJ Special Achievement Award is given at the discretion of the AVCJ Editorial Board, although suggestions from the private equity and venture capital community would be considered and valued.

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