- On demand
- About the event
09:45Keynote panel: Private equity and economic transition
Having endured several months of severe disruption, China’s economy appears to be returning to a version of normal. Curtailed spending and severed supply chains have inflicted wounds on businesses, which will take time to heal. But there are also longer-term challenges around structural reforms and consumption-led growth. PE has contributed to the country’s economic evolution and will continue to do so – the question is how its role might change. Our panellists offer some answers.
- How is macroeconomic uncertainty impacting investment?
- What lessons can be drawn from past difficulties?
- Are there likely to be more distressed opportunities?
- What does China-US decoupling mean for private equity?
11:00A matter of control: Are buyouts coming of age?
Expectations of more buyout opportunities in China are based on well-known factors: succession planning, multinationals that get out when the going gets too tough, and founders who recognise they need help to reach the next level for expansion. But how long will it take for the trickle of deals to become a steady flow, and are private equity firms equipped to respond when this happens? Our panellists discuss the implications of majority ownership.
- What does control mean in a China context?
- How do private equity firms source buyout deals?
- Are take-privates the next big opportunity?
- How are GPs addressing the new norms for businesses and creating value?
Managing Director, Co-Head of Consumer, Media & Technology, FOUNTAINVEST PARTNERS (ASIA) LIMITED
15:00Spending power: The evolving consumer opportunity
China’s consumer sector remains a tantalizing $4.9 trillion opportunity, despite several months of severe economic disruption that has tested balance sheets and business models. Even as out-of-home spending resumes, trends that lingered in the background are being pushed to the fore. Consumer behaviour is as geographically and demographically diverse as ever, but it also increasingly technology enabled. PE experts offer present versus future perspectives on when, where, and how people are spending money.
- What trends are driving investment activity?
- How do companies target lower-tier cities?
- Are all consumer deals now technology deals?
- How can GPs differentiate their consumer strategies
16:00Healthcare: Investing in a changing landscape
The COVID-19 outbreak has underlined the need for continued significant investment in China’s healthcare system, from drug development to frontline treatment. It has also brought digitization to the fore. For investors who were already excited about the potential of this sector, there is now greater clarity as to where the biggest opportunities can be found – although relevant skills, experience, and conviction have perhaps never been more important. Our specialists consider different approaches.
- What is the government doing to support healthcare?
- Which sub-segments are the most attractive?
- How is technology bringing about change?
- Is there too much money chasing deals in the sector?
09:45The LP view: China within a global portfolio
Are international LPs taking advantage of conditions and increasing exposure to China or seeking solace in their home markets? There were already numerous reasons not to commit to a China fund, from uncertainty regarding the macro outlook to legal and regulatory risk to patchy track records. However, if other investors are backing off, now might be the time to establish relationships with previously hard-to-access managers. Institutional LPs offer insights into their approaches.
- How are portfolio allocations changing?
- Has China shaken off its “good for TVPI, bad for DPI” reputation?
- What are the key considerations in manager selection?
- How prominently does ESG feature in the decision-making process?
15:00China venture capital: The shifting dynamics
As China’s economy mounts a recovery, the Chinese tech sector has begun to boom once again. Not only has COVID-19 transformed lives and businesses, it has also changed industry dynamics. For example, investors are being more selective with high cash-burn B2C plays and placing greater emphasis on B2B, as well as innovations along industry verticals. Our panellists take a look at China’s venture capital and discuss what might come next.
- What will be the emerging investment themes over the next 12 months?
- Is the enterprise software opportunity being overhyped?
- How will the next wave of potential unicorns find their feet?
- What is the exit outlook for Chinese tech companies?
IPO and exit outlook in 2021 and beyond
Exit activity slowed significantly in the first half of 2020 and will remain sluggish for the rest of the year as fund managers delay their exit plans due to stressed valuations. However, as soon as market conditions recover, exits may quickly bounce back as secondary investors are keen to offer liquidity solutions. In addition, although listing in the US has become more challenging, the appetite for IPOs remains strong; and while favourable policies are encouraging IPOs in Shanghai and Shenzhen, another option could be Hong Kong. Our panellists predict the exit outlook for 2021 and beyond.
- What opportunities and challenges are GPs facing in preparing their portfolios for exit?
- How is the secondaries market in China evolving?
- Will there be more demand from strategic investors, especially in hot sectors such as tech and healthcare?
- Is Hong Kong a viable alternative to the US for IPOs? What about Shanghai and Shenzhen?
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Haibin Zhu is a Managing Director, Chief China Economist and Head of Greater China Economic Research at J.P. Morgan. Prior to joining J.P. Morgan in 2011, Mr. Zhu was a research economist at the Bank for International Settlements (BIS) for a decade. In 2016-2020, Mr. Zhu also served as Head of China Equity Strategy at J.P. Morgan. His areas of expertise include China economy, banking regulation and financial stability, equity strategy and asset allocation. He has published a dozen of articles in peer-reviewed journals including Review of Financial Studies, Journal of Banking and Finance, and International Journal of Central Banking, and won best paper awards in areas of real estate valuation, fixed income and banking. Currently he is a column writer for Caijing, adjunct research fellow at the National Institute of Financial Research (NIFR), Tsinghua University, and adjunct professor at Chinese University of Hong Kong (Shenzhen).
Mr. Zhu obtained a Ph.D. degree in economics from Duke University and, a M.A. from the Graduate School of People’s Bank of China, and a B.S. from Beijing University.
Zhan is an Investment Principal responsible for origination and execution, and is based in the firm’s Hong Kong office.
Prior to joining Coller Capital in 2016, Zhan was a Director at BlackRock Private Equity Partners. Previously, he worked at Swiss Re Private Equity Partners and Adveq Management in Zurich, Beijing and Hong Kong.
Zhan has a BEng in Environmental Engineering from Tianjin University, an MSc in Environmental Science from Nanyang Technological University and an MBA from INSEAD. Zhan is a CFA Charterholder.
Janine Feng is a Managing Director focused on Asian buyout opportunities in the financial services, consumer products and healthcare sectors. She is based in Hong Kong.
Since joining Carlyle in 1998, Ms. Feng has led various investments including Carlyle Asia Partners’ investments in China Pacific Insurance, Kaiyuan Hotel Group, Haier Electronics, Focus Media, and MicroPort.
Prior to joining Carlyle, Ms. Feng was a Financial Analyst and later a Senior Associate at Credit Suisse First Boston’s investment banking group in New York, where she focused on structured finance and project finance transactions for four and a half years. During the summer of her business school years, Ms. Feng worked as a Management Consultant at McKinsey & Company, Inc.
Ms. Feng received her MBA from Harvard Business School and her BA, summa cum laude and Phi Beta Kappa, from Middlebury College.
Fred is the Founder and Chairman of Primavera Capital Group, a private investment firm focused on innovative industries.
As an economist Fred’s research interests include entrepreneurship, technological innovation, and international development. Fred served as the co-director of the National Center for Economic Research and a professor at Tsinghua University, and he is currently an adjunct professor at the Chinese University of Hong Kong and Peking University. He served at the International Monetary Fund in Washington DC, and has advised the Chinese government on financial market reforms and economic policies. Fred also served on the Hong Kong SAR Government's Strategic Development Committee and the Advisory Committee of the Hong Kong Securities and Futures Commission.
Fred is the non-executive chairman of Yum China Holdings Inc.,and is a director of several corporate boards including Ant Group, Hong Kong Exchanges and Clearing Limited, ICBC, and UBS Group AG. Fred is also the co-chair of the Nature Conservancy’s Asia Pacific Council, a trustee of the China Medical Board, a member of the Council of Foreign Relations’ Global Advisory Board, a member of Harvard University’s Global Advisory Council, and a member of the Advisory Committees of the Mossavar-Rahmani Center for Business and Government at Harvard Kennedy School, and the Jerome A. Chazen Institute of International Business at Columbia University.
Previously Fred was Chairman of Greater China and a Partner at Goldman Sachs, where he was instrumental in building the firm's franchise in the Asia Pacific region.
Fred holds a Master in Engineering Science from Tsinghua University, and a Master and Ph.D. in Economics from Harvard University.
Edward Huang is aHead of Private Equity for Greater China and Korea in Blackstone's Private Equity Group based in Hong Kong, andleads Blackstone's Greater China private equity team. Before joiningBlackstone, Mr. Huang was most recently a Managing Director at Morgan StanleyPrivate Equity Asia where he focused on private equity investments in China.Mr. Huang received an M.B.A. from Harvard Business School and a B.A. from YaleUniversity.
Mr. Lau is Chief Executive Officer and Partner of HOPU Investments, a premier Asia-based private equity firm with a capital under management of over US$15 billion. At HOPU, Mr. Lau oversees the firm’s management and overall investment activities, leading a number of landmark transactions such as ARM China and Global Logistics Properties.
Mr. Lau has over 25 years of experience in finance and investing in Asia, over 20 of which are China related. Prior to HOPU, Mr. Lau was Managing Director at Temasek International, where he spent 10 years building, managing and executing its investment strategy for China. Mr. Lau also spent 9 years with United Overseas Bank, where he held various positions in Singapore and China including Chief Representative of UOB’s Beijing Office and Deputy General Manager of UOB’s Beijing Branch.
Mr. Lau’s current board membership includes ARM China, Global Logistics Properties and Beijing Hualian REIT. He holds a Bachelor of Business degree from Nanyang Technological University of Singapore, and has served in the Singapore Armed Forces as a military officer.
Speaker bio coming soon
Mr. Sun is TPG’s Managing Partner for China. Prior to joining TPG, he was chairman and founder of Black Soil Group, an agriculture investment holding company. From 1995 to 2015, Mr. Sun was a partner at Warburg Pincus Asia and served as chairman of Asia Pacific for the firm and a member of the firm’s Executive Management Group. Mr. Sun has also worked as an Executive Director in the Investment Banking Division and the Principal Investment Area of Goldman Sachs (Asia) L.L.C., at Lepercq, de Neuflize & Co as an investment banking associate, and at the United Nations as a translator.
Mr. Sun holds a Bachelor of Arts degree from the Beijing Foreign Studies University and a joint degree of MA/MBA from the Joseph Lauder Institute of International Management and the Wharton School of the University of Pennsylvania.
Mr. Sun is the founder and current honorary Chairman of the China Venture Capital Association (CVCA) and the founder and current Executive Vice Chairman the China Real Estate Developers and Investors’ Association (CREDIA). He is also a member of the Board of Governors of the Lauder Institute at the Wharton School, and a board member of the China Entrepreneurs Club (CEC).
- Priscilla has worked in the KPMG China Transaction Services team since 2003 and previously worked in KPMG China Audit function since 1998. During the period of 2001 to 2003, she studied in the United States for her master of business administration degree
- Priscilla is a local Chinese partner with over 15 years working experience to serve international and domestic private equity fund investing in China. She brings a combination of international perspective and China specific issues focused knowledge to assist in your transaction process
- Priscilla is the co-head of PE business in KPMG China.
Professional and Industry Experience
- Priscilla assisted her clients in understanding the unique China investment environment, providing financial due diligence, completion account, special review on revenue and other transaction related advisory.
- She has extensive transaction service experience in TMT, consumer & retail, logistic, education, and healthcare in China, granting her in-depth knowledge of sector characteristics and client’s primary concerns.
- Priscilla's major clients are all top tier global and local PE funds
Mr. Cui joined BPEA in 2012. Mr. Cui is involved primarily in the Firm’s investments in Greater China. Prior to joining the Firm, Mr. Cui was Partner of Hopu Investment Management Co. Ltd. Before that, he was Managing Director of Morgan Stanley China Investment Banking and led HSBC’s Resources and Energy Group in Asia Pacific.
Mr. Cui received Bachelor and Master degrees in Engineering from University of Science & Technology Beijing, China, and D.Phil. in Engineering Science from University of Oxford. Mr. Cui is a native Mandarin speaker and is fluent in English.
2017 to now
FountainVest Partners (Asia) Limited (Managing Director, Co-Head of Consumer, Media & Technology)
2007 to 2017
Goldman Sachs (Asia) L.L.C. (Managing Director, Mergers & Acquisitions, Investment Banking Division)
2003 to 2004
Pan Media Corporation (Chief Financial Officer)
2000 to 2003
Goldman, Sachs & Co. (Financial Analyst, Global Investment Research)
MBA in Finance; MA in International Studies – Mandarin and East Asia Focus in The Wharton School and The Lauder Institute, University of Pennsylvania; Bachelor of Arts, Dual Majors in Economics and Political Science in Columbia University
** HONY CAPITAL
2005‐2015, Managing Director, Management Committee member and the Equity Partner
- Led investment team and managed and supervised the whole investment processes from deal sourcing to projects screening to investment decision‐making to portfolio management as chief investment officer
- Obtained rich experiences of SOE restructuring and established extensive connections with various sector leaders and diversified intermediaries, together with in‐depth knowledge in sectors of consumer retailing, energy production and real estate
-Created and developed other non‐PE assets management business such as Mezzanine fund, real estate fund and hedge fund etc.
** CHINA YINTAI INVESTMENT
2002‐2004, Vice President of Yintai Investment & CEO of the Yintai Department Stores chain - Managed and executed various takeovers of retail companies established one of the largest private‐owned retail groups in China, the Yintai Department Stores chain
- Led and developed Yintai’s principal investment team to identify and execute M&A deals in retail sector and performed restructuring and reorganization processes of listed company of Yintai holdings.
** HUA NENG GROUP
1990‐2002, Vice President of Goldpark China, a Huaneng's subsidiary listed on Toronto Stock Exchange
- Performed project planning and development, developed international business and communicated with investor for Huaneng group and listed subsidiaries.
- MBA, Kellogg School of Management of Northwestern University and Hong Kong University of Science and Technology
- Bachelor’s in engineering, Xi'an Jiaotong University.
Vivian Joined Advantage Partners in July 2015 as one of the founding members of the Asia buyout fund.
Responsible for investments including ESG, Shih An Farm, Greenlight Education and Asia Gourmet Holding. After joining Advantage Partners, Vivian has spearheaded AP’s Greater China operations, including the establishment of our Shanghai office in October 2016. She has also built out the firm’s local investment and management teams, expanded AP’s network and coverage in GC, and strengthened the AP brand name in the Chinese market. At Advantage Partners’ Greater China portfolio companies, Vivian leads our team’s efforts to form growth strategies, develop new products and services, enhance management control systems, and achieve inorganic growth through add-on acquisitions. Vivian helped established AP’s presence in the Taiwanese buyout market by leading the investment in Shih An farm where she recruited a talented professional management team to transform the founder-led rural farming business into an institutional world class operation. Under her leadership, the company rebuilt its IT infrastructure and financial systems and further enhanced its world class ESG standards, helping to make the company one of the leaders in the egg industry in the region.
Prior to joining Advantage Partners, Vivian was the China head at AIG Investments. Before that she spent more than 12 years in the management consulting industry as Senior partner of Roland Berger Strategy Consultants and a Principal from the Boston Consulting Group. MBA from University of Texas at Austin and B.S. from Beijing Normal University.
Mr. Fang is the founding managing partner of Starquest Capital, a China based private equity and fund of funds firm with investment strategy focused on consumer, healthcare and technology sector. Mr. Fang oversees the FoF investment, ESG integration, business development and various activities. Starquest Capital is the first Asian recipient of the UNPRI Awards 2019 Emerging Markets Initiative of the Year.
Prior to founding Starquest Capital in 2018, Mr. Fang served as the Head of LGT Capital Partners in China for 12 years. Before joining LGT Capital Partners in early 2007, Mr. Fang worked for AXA Private Equity Group in Singapore focusing on fund of funds and direct investment in Pan-Asia region. Mr. Fang has a total of 20 years' experience in the finance industry.
Mr. Fang has invested over USD 1.5 billion in Chinese private equity market, including long-established GPs such as CDH Investments, CITIC Capital, Sequoia Capital and Legend Capital, as well as VC 2.0 GPs such as Primavera Capital, Source Code Capital and Gaorong Capital. Mr. Fang is the member of Advisory Committees for over 20 funds in China and a member of the China Insurance Regulatory Commission Expert Committee. He is also invited to be expert judge of Forbes China 2020 "30 Under 30" List.
Mr. Fang holds a Bachelor degree in Accounting from Shanghai Jiao Tong University, MBA from INSEAD Business School and EMBA from People’s Bank of China School of Finance of Tsinghua University. Mr. Fang also holds the Chinese certified public accountant qualification. He is the member of Future Forum Youth Council. His native language is Mandarin. He is also fluent in English, French, Cantonese and can use conversational German and Japanese.
Will is a Founding Managing Partner of ClearVue Partners and has 25 years of entrepreneurial and private equity experience. Will was most previously a Managing Director of DT Capital Partners. where he led investments in the Consumer, TMT, and Energy sectors.
Prior to DT Capital, Will was Founder and CEO of Accelergy Corporation, an alternative energy technology company with US and China operations. Prior to Accelergy, Will was Founder and CEO of OnePage, Inc. an enterprise portal software company which was acquired by Sybase, Inc. (NYSE: SY) in 2002. Before starting OnePage, Will was one of the Founders of Billpoint, Inc., which pioneered the concept of online person to person payments. Billpoint became the leading provider of person to person payment services and was acquired by eBay (NASDAQ: EBAY) in 1999 as a payment solution for their online auction marketplace.
He has also been in management positions for the internet portal Excite and Classifieds2000 (acquired by Excite in 1998), Andersen Consulting Strategic Services (Accenture), and IBM.
Harvard Business School Board of Dean’s Advisors 2015, HBS Alumni Board Director 2010-2012, Board Director of World Resources Institute (WRI), 2006 Aspen Institute Henry Crown Fellow, 2003 Entrepreneur of the Year Award- University of Florida. Chairman and President of AAMA (Asia America Multi Technology Association), Former Chapter Chair of YPO Shanghai.
Will holds an MBA from Harvard Business School and a BS from University of Florida
JP Gan is a Founding Partner of INCE Capital. With over 20 years of experience in venture capital, Mr. Gan has been ranked a top venture capitalist worldwide by the Forbes Midas List for five consecutive years and was No.5 on the global list in 2019. He has been named a top venture capitalist in Asia and China by multiple media and institutions including CB Insights / New York Times, Fortune Magazine, AVCJ, Zero2IPO, ChinaVenture, and 36Kr.
Focusing on Internet consumer and intelligent technologies sectors, Mr. Gan’s successful investments include Trip.com Group Ltd. (NASDAQ: TCOM, an independent director since 2002), Bilibili Inc. (NASDAQ: BILI, an independent director since 2015), Dianping.com (merged with Meituan, HKEX: 03690), Musical.ly (acquired by ByteDance and became TikTok), Meitu Inc. (HKEX: 01357), Jiayuan.com, PPS Inc and ATL.
Prior to founding INCE Capital, Mr. Gan had been a Managing Partner and member of the investment committee of Qiming Venture Partners for 13 years. He started his venture capital career at the Carlyle Group in 2000 and was a Director and founding member of its Asian venture fund. He has also worked at KongZhong Corporation, Merrill Lynch, and PricewaterhouseCoopers.
Mr. Gan holds a BBA from the University of Iowa and an MBA from the University of Chicago Booth School of Business. He is a member of the University of Chicago Booth Council and Polsky Center Council.
Ms. Liu focuses primarily on buyout and later-stage investments in consumption driven sectors. Ms. Liu has led all investments in Green Harbor Investment’s portfolio. Notable transactions include investments in Jason Wu, GymAngel, CheZhiBao, Tencent Music Entertainment, Ant Financial, HomeLink, Wuxi PharmaTech, Sanli Education Group, etc.
Prior to Green Harbor Investment, Ms. Liu was a private equity investment professional at Yunfeng Capital. Key investments include Relia, Xiaomi, Youku Tudou, Momo and Gold Mantis Construction Decoration.
Ms. Liu served as the Acting CFO of PPStream during 2013 and led its sale to Baidu.
Prior to PPStream, Ms. Liu was part of the M&A team at Deutsche Bank’s investment banking division and completed cross-border buyout transactions including AIA’s acquisition of ING’s Asian business and China State Construction International’s acquisition of Far East Global Group, among others.
Ms. Liu graduated from Duke University with a B.S. degree in Economics and is currently enrolled in the “Financial CEO” program at Tsinghua PBCSF EMBA School.
Chris Sun (Beijing) joined KKR in 2007 and is a member of the Private Equity team, focused on the consumer sector in Greater China. Mr. Sun is also a member of the KKR Global Impact investment team. At KKR, Mr. Sun has played a significant role in advising on the investments in Modern Dairy, Rundong, VATS Liquor Chain, United Envirotech, Asia Dairy, COFCO Meat, Sunner Development, Yuehai Feed Group, Gambol Pet Group, Cue & Co, Jiangsu Yuguan and ByteDance. Prior to joining KKR, he worked as an investment banking analyst at Goldman Sachs & Co. in the Natural Resources Group in Beijing. He holds a B.A. and an M.A., with honors, from Peking University in China.
- Jenny Yao has over twenty years of international management experience in healthcare industry in China, Singapore and the UK.
- Jenny is leading on a number of strategy development and implementation engagements for a range of healthcare groups in China
- Jenny led a healthcare JV assessment engagement for a Japanese client and one of CITIC’s healthcare investment entities
- Jenny led a number of CDD/ODD engagements involving over 100 healthcare organizations, including an orthopedics hospital chain, a dental chain, a women and children’s hospital chain, a renal dialysis chain, an ophthalmology hospital chain, privatized SOE general hospitals and public hospitals.
- Jenny led a number of operational strategy and operational excellence engagements to create value post M&A for a number of healthcare investors
- Jenny led a number of operational improvement projects for public hospitals
- Jenny supported four top US hospital groups, two UK hospital groups, two Japanese clients and two South Korean clients on the business plan development and workforce planning of their new hospital projects in China
- Jenny is leading on a quality diagnosis and improvement project for Universal Medical covering over 30 hospitals with over 10,000 inpatient beds
- Jenny supported one of the private healthcare groups in China on management improvement in the areas of quality, procurement, IT, HR and internal controls.
- Jenny led a healthcare reform study on “Sanming Model” focusing on the impact of “two-invoice” procurement system on life sciences industry in China and the changing role of retail pharmacies in China
- Jenny led a China healthcare reform study for a global Pharma/medical devices firm.
- Jenny led a Patient Group Study for a MNC pharmaceutical company
- Jenny has successfully completed a strategy and planning project for Shandong Development & Reform Commission focusing on elderly care and health wellbeing industry in Shandong Province, China.
- Working with the Department of Health and Monitor, Jenny successfully engaged clinicians, managers and other front line staff in identifying quality indicators and delivering quality at King’s College Hospital. The scorecard approach was quoted as good practice case studies by Department of Health, UK.
- Piloted LEAN service improvement models and delivered savings at London Chest Hospital, the largest Cardiac Centre in Europe
Min Fang is based in Shanghai, joined WARBURG PINCUS in 2007 and focuses on investments in the healthcare sector in Asia. Prior to joining Warburg Pincus, he worked at the Boston Consulting Group focusing on management consulting for pharmaceutical and medical device companies. Mr. Fang is a director of Beijing Amcare Women’s and Children’s Hospital Group, HTDK (Shanghai) Co., Ltd., Evercare (Beijing) Holding Group Co. Ltd, Shanghai Haihe Pharmaceutical Co., Ltd., Hygeia Medical Service Group (6078.HK) and Jinxin Fertility Group (1951.HK).
He received a B.A. of International Finance from Fudan University and an M.B.A. from the Stanford Graduate School of Business.
Before establishing Pagoda Capital in 2015, James has been working in private equity and asset management business for nearly 30 years, with extensive working experience in sovereign wealth funds on private equity investment and portfolio construction in various sectors.
James’s professional career include: Managing Director at China Investment Corporation(CIC), responsible for CIC private equity investments globally; Senior Advisor of Queensland Investment Corporation(QIC), worked closely with management on overall strategy and investment portfolio for QIC China Private Equity investments; and a number of senior management positions at global investment banks, such as State Street Corp., JP Morgan Asset Management, and Credit Suisse
James has Bachelor degree in Economics and Finance from RMIT University and Master in Applied Finance from Macquarie University in Australia
Speaker bio coming soon
Dr. Marietta Wu is Managing Director of Quan Capital, a life sciences venture fund with offices in China & US, and deep expertise in cross-border value creation and global investments. She is a founding member of Zai Lab and served as COO and Director of the company prior to Quan Capital. Zai Lab is a NASDAQ listed company widely recognized as a leader in bringing innovative and transformative medicines to China. Over the past decade, Dr. Wu has been active in cross-border ventures and value creation in the life sciences industry. She was Managing Director at Burrill & Company, leading Burrill’s investments and operation in Greater China, focusing on venture capital investing in China and Taiwan related life sciences opportunities. She also served as acting COO of Waterstone, a specialty pharmaceutical company with key operations in China. Dr. Wu is a frequent speaker and author on China and Taiwan life sciences topics, and a founding member of the China Healthcare Investment Conference. Prior to her focus on healthcare investments and company building, Dr. Wu was Director of Strategy at Edwards Lifesciences. She also held various financial and business development positions at Eli Lilly & Company.
Dr. Wu received her medical degree from Shanghai Jiaotong University School of Medicine (formerly Shanghai Second Medical University), a Ph.D. in Medical Sciences from Medical College of Ohio, and an MBA from the University of Michigan Ross School of Business.
Dr. Wu serves on the board of Crescendo Biologics, Kira Pharmaceutical, MEDx (Suzhou) Translational Medicine Co., Ltd, Zidan Medical, Innoforce and Citrine Medical. She was a board member of Zai Lab Limited (NASDAQ: ZLAB), Jing Medicine Technology, Taiwan Liposome Company (GTSM: 4152), JHL Biotech (TWEM: 6540), and General Biologics Corporation (TWEM: 4117).
Suyi is responsible for leading CPP Investments’ investment activities in Asia Pacific and overseeing its portfolio of investments in the region. As of March 2020, CPP Investments has a portfolio of over C$110 billion in the Asia Pacific, and a team of over 170 professionals located across its Hong Kong, Mumbai and Sydney offices. Suyi is based in CPP Investments’ Hong Kong office.
Suyi joined CPP Investments in 2007, establishing CPP Investments’ first international office in Hong Kong, and has held a number of senior leadership roles, including overseeing private investments in Asia and leading private equity investments as Managing Director & Head of Private Equity Asia. Since 2016, Suyi has been responsible for overseeing CPP Investments’ investment activities in Asia Pacific across all investment programs including public equity, private equity, real estate, infrastructure, and credit and overseeing operations in the Hong Kong, Mumbai and Sydney offices. She is also a member of CPP Investments’ Global Investment Committee, Strategy & Risk Committee and Management Committee. Prior to joining CPP Investments, Ms. Kim worked at Ontario Teachers’ Pension Plan and The Carlyle Group, as well as McKinsey & Co. in various Asian countries and at PricewaterhouseCoopers.
She holds a Master of Business Administration from Stanford University and a Bachelor of Arts in International Economics from Seoul National University. She is a Certified Public Accountant. Suyi currently serves on the board of Homeplus, one of the largest multi-channel retailers in South Korea. She is also on the Products Advisory Committee of the Securities & Futures Commission of Hong Kong and sits on the board of Junior Achievement in Korea.
Tim Burroughs is managing editor of Asian Venture Capital Journal, having joined the publication in May 2011. He is responsible for all editorial content put out under the AVCJ brand, including Asian Venture Capital Journal, AVCJtv, AVCJ Awards and AVCJ.com. Tim previously spent five years at China Economic Review, serving as editor-in-chief and then editorial director. Located in Greater China since 2003, during which time he has lived in Beijing, Qingdao and Hong Kong, Tim has been a China-based contributor for publications including The Sunday Times, Sunday Telegraph, BBC and China Daily. Prior to moving to China, he trained and worked as a journalist in the UK. He was honored at the Society of Publishers in Asia awards in 2007, 2008 and 2010, and at the State Street Institutional Press Awards - Asia in 2012.
Eric Mason is a Managing Director of The Church Pension Fund. He joined the Church Pension Fund in 2009 as the head of the Fund’s new Asian office based in Hong Kong and has been based in Asia for almost 25 years. Mr. Mason and his team are responsible for the Fund’s investments in Asia across all asset classes with a focus on private equity, real estate and hedge funds. The team manages approximately $1.8 billion in investments in Asian based managers.
Prior to joining the Fund, Mr. Mason was the head for the Carlyle Group’s Asia Leverage Finance Fund and before that spent 13 years at JPMorgan most recently as Asian regional head of Leveraged Finance. In these roles, Mr. Mason has developed experience in structuring, underwriting and investing in private equity and credit transactions. Mr. Mason first came to Asia in 1990 to teach at the Foreign Affairs University in Beijing with Princeton-in-Asia, prior to that he worked in Washington DC for U.S. Senator Bill Bradley. Mr. Mason received a B.A. in International Relations and Economics from the University of Delaware and earned a Masters in International Affairs from Columbia University’s School of International and Public Affairs. Mr. Mason speaks Mandarin Chinese.
The Church Pension Fund is a private tax exempt organization based in New York City with approximately US$12 billion in assets under management. The Fund has been in continuous
operation since 1917 and provides pension benefits to those serving the Episcopal Church. The Church is an extensive investor in alternative assets and has been investing with many of the global leaders in venture capital and private equity for decades.
Edward J. Grefenstette serves as President/CEO and Chief Investment Officer of The Dietrich Foundation, a ~$1.0 billion charitable foundation that was formed following the passing of William S. Dietrich II in October 2011. The Dietrich Foundation primarily supports higher education institutions and other civic/charitable organizations in Western Pennsylvania. Ed previously served as Treasurer/CIO of Carnegie Mellon University (CMU). Prior to CMU, he co-founded a small-cap private equity fund, following seven years in investment banking and law. He earned his AB in Economics and Juris Doctor from Georgetown University and an MBA in Finance and Strategy from CMU. He currently serves as trustee and IC member of CMU and as trustee and IC Chair of University of Pittsburgh and The Hillman Family Foundations.
Maria is an Investment Manager in Private Markets at Sunsuper, a A$70 billion profit-for-members superannuation fund in Australia. Private Markets include investments in Private Capital, Infrastructure and Property asset classes. The Private Capital portfolio is a total programme of over A$5 billion, which consists of primary and secondary fund investments, co-investments and direct investments across buyout, venture/growth, and distressed opportunities.
Maria has over 15 years of experience in public and private markets. Prior to Sunsuper, Maria was an Investment Director at AP Capital, Equity Capital Markets at Commonwealth Bank of Australia, a Senior Research Analyst at Asia Pacific Arbitrage Partnership, and an Investment Strategist at AMP Capital. Maria has a Bachelor of Commerce (Honours in Finance) from the University of New South Wales, and a Masters of Applied Finance & Investment from FINSIA. Maria is also a CFA Charterholder.
Sherry co-leads the private equity efforts with a focus on global venture and Asia for Willett Advisors. Willett is a single family office managing the philanthropic and personal assets of Michael Bloomberg with offices in New York City, San Francisco and Hong Kong. Prior, Sherry was Managing Director of Mousse Partners, the Chanel family office, where she established the Asia offices, anchored and served on the Advisory Boards of several leading VC and PE firms, and invested in over 50 direct/ co-investments. Sherry previously worked at The James Irvine Foundation, Thomas Weisel Partners and Goldman Sachs. Sherry holds a BA, Columbia University and JD/MBA, Northwestern/ Kellogg.
Tianhao Wu is Director of Investments at the Rockefeller University, a preeminent biomedical research institute that has been home to 25 Nobel Laureates. The University has a $2.2 billion endowment fund that provides crucial funding to the University’s scientific missions. Tianhao focuses on asset allocation and manager selection primarily overseeing long-only equities, equity hedge funds, and Asian public and private investments. Prior to joining Rockefeller in 2014, Tianhao worked at Analytical Research, an alternative investment firm, where he helped advise European corporate pensions and endowments on hedge fund investments. Tianhao received his Master of Financial Engineering degree from Cornell University and dual Bachelor of Science degrees from the University of Michigan and Shanghai Jiao Tong University. Tianhao was awarded Top 30 University Endowment Rising Stars in 2017 and 2018, as well as Top 30 Investors At Next-Generation Leading Endowments in 2019, by Trusted Insight. Tianhao is a Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) charterholder.
Henry Yin is partner at Cooley LLP. He is a trusted advisor to clients on complex public and private mergers and acquisitions (including cross-border/outbound investments), private equity, venture capital and growth investments, joint ventures, PIPEs, financings, going-private transactions and other general corporate matters in China, US and globally covering diverse industries including technology, life sciences, film, media, financial services, consumer, automotive, big data, e-commerce, software, hardware, education/edtech, manufacturing, fintech, logistics, blockchain, real estate, reinsurance, pharmaceuticals and infrastructure.
Henry also advises family offices, founders, significant shareholders and corporate clients in negotiated or contested complex transactions, corporate governance matters, boardroom and transaction strategies, ESOP matters, competitive bidding process, Greater China entry strategies and other technology transactions. Henry received his JD with honors from Duke University School of Law and BA from University of International Relations.
Fabian is a modern digital strategist, technologist focusing on human brilliance experience design and futurism sensory AI experiences. He is a firm believer of ethical and socially responsible experience designs in the post-C19 world. Previously, he led as Deloitte Digital’s Managing Partner, and was a Global Client Service Partner, Global Markets Partner at Ernst & Young in London. He was also the Executive Creative Director for a global top 5 creative agency in Asia, and the Chief Creative Officer at a FTSE250 $4 Billion listed company in the United Kingdom.
In his 20+ years of professional experience, he led in multiple global digital strategy and transformation projects for customer strategy, digital marketing, m-commerce, experience, data and AI. Projects included leveraging micro-services, APIs integration, business intelligence, and leveraging SaaS based digital products to optimize experience and cost base. His most notable digital transformation work was for a US$120 billion turnover company with more than 1,300+ entities in 120+ jurisdictions. His sector specialism is in TMT and FMCG.
Currently, Fabian is a lecturer at Sotheby’s Institute of Art, contributing to how AI contributes to the art world. He has previously lectured at London School of Economics and Political Science in digital leadership and change. His core research includes sensory A.I. technologies in the new norm, experience premium transformation and +3% experience management transformation. Fabian also presented on various high-profile customer experience, ethical experience, digital leadership, diversity, and sensory AI experience topics on various digital channels such as UK Tech Retail Week, LinkedIn, Critical Eye and YouTube.
Fabian is also an avid speaker on the global circuit where he has presented to global companies such as SONY, HP, Huawei, etc., and to the Head of States such as China, Russia, France, and EU country ministers on digital and M&A related topics.
Yipin Ng is a Managing Partner of enterprise and productivity focused Shanghai-based Yunqi Partners. With over 20 years investment experience, Yipin is one of the earliest investors specializing in the enterprise, B2B and productivity space in China. He meaningfully shaped the ecosystem in these areas and has been involved in the creation of a number of unicorns.
Prior to founding Yunqi Partners in 2014, Yipin was a Partner at GGV Capital. From 2004 to 2008, he worked at GGV’s Silicon Valley Office where he focused on the firm’s intelligent hardware investment business in the United States. From 2008 to 2014, he was a founding member of GGV’s China Operations in the Shanghai Office. He started his investing career at GIC, Singapore’s sovereign wealth fund.
Yipin has been honored as a Forbes Midas 100 in China award consecutively in 2017, 2018, and 2019. He holds a Masters degree from Stanford University, a MBA from Nanyang Business School, and a Bachelors degree from the University of San Francisco.
Tony is a Partner of Jeneration Capital. Prior to joining Jeneration Capital in 2017, he was a Partner at Coatue Management, a technology and consumer-focused global hedge fund manager with over $11 billion of assets under management. Previously, he was a Principal at DCM, a U.S. and Asia-focused venture capital fund. Tony has over 12 years of investment and corporate development experience in Asia. He is a member of the Investment Committee. Tony graduated with honors from Peking University with a Bachelor of Arts in Accounting and a Masters of Business Administration from Harvard University.
King has extensive experiences in industry chain integration and investment.
Previously worked in Siemens and other telecom companies. Both his industrial background and engineer education have laied a solid foundation for his later investment career in Redpoint and IDG Capital. During King’s employment in Xunyou Network (SZ: 300467) as CIO, he invested Baishan Cloud, Wanling Cloud, etc. Besides, Mr. Zhu invested unicorn startups including Yixia.com, iDreamSky Games (HKEx: 01119), Bangcle during his early years in Redpoint and IDG Capital as principal.
King graduated from Beijing University of Aeronautics and Astronautics (BUAA), China Academy of Space Technology, China Europe International Business School and Tsinghua PBCSF
Will Cai is a corporate partner and the head of Cooley Asia capital markets. His practice focuses on cross-border China-related legal matters. He represents issuers and global investment banks in US and Hong Kong capital market transactions. He also advises private equity funds and multinationals in their investments in the Greater China region, as well as Chinese companies in their cross-border M&A activities.
Will has worked on 50+ successful IPOs in the US and Hong Kong capital markets in the last decade, with a focus on life sciences, technology and new economy companies. In addition, Will has represented a significant number of leading new economy companies in their M&A transactions, including a number of landmark deals.
The deals Will has worked on over the years have garnered a number of rankings and accolades including the ‘Best IPO of 2017’ by FinanceAsia Magazine, ‘Equity Deal of the Year for 2017’ at the IFLR Asia Awards in 2018, the largest technology IPO in Hong Kong in 2017, one of China Business Law Journal’s Deals of the Year in both 2016 and 2015 and one of Asian-MENA Counsel magazine’s Deals of the Year for 2015.
From 1997 to 2003, Will worked for the Supreme People’s Court of China, where he acquired extensive experience and knowledge of the Chinese judiciary.
Will received his JD from Stanford Law School and LLB from China University of Political Science and Law. He is a native Mandarin speaker and is fluent in English. He is admitted to practice in California and Hong Kong.
Mr. Harvey Li has been with CLSA since 2018 as Deputy Head of Equity Capital Markets. Prior to joining CLSA, he worked 10.5 years in UBS ECM since July 2007.
Mr. Li holds a MSc. Degree in Biochemistry from Oxford University, and is one of the lead ECM bankers on Hua Medicine, BeiGene, Wuxi AppTec, Alphamab, Pharmaron, Kangji, TigerMed and a number of other biotech pipelines.
Andy supports the Primary Investment Team in all aspects of the investment decision-making process. He also is involved in the sourcing, screening, execution, monitoring, and exiting of growth and buyout co-investments.
Prior to joining Adams Street, Andy was an Executive Director in charge of CICC Wealth Management’s private market product development and investment management in China.
Previously, Andy was a Vice President with the private equity division of GIC Private Limited, where he focused on fund investments and co-investments in Asia. He also worked with Swiss Reinsurance Company’s asset management division in Hong Kong.
Mr. Jason YAO (Managing director, Head of Greater China) is heading the business activities in Greater China region on behalf of Ardian. He is responsible for sourcing opportunities of investment and fundraising on the ground while in charge of company operation. He has rich experience in alternative investment especially in secondary. He joined Ardian in Feb 2011 in Singapore and moved to Beijing in 2012 to set up the Beijing office.
Before Ardian, Mr. Jason Yao worked for McKinsey as a business consultant.
Mr. Jason YAO holds an MBA from INSEAD and a bachelor’s degree of world economics from Fudan University
Jenny Zeng is the Founder & Managing Partner of MSA Capital, a Chinese private equity firm focused on healthcare, tech and consumer internet. With 18 years extensive industry experience, she has played a key role in most of the Firm’s iconic investments, including Meituan(SEHK:03690), Nio(NYSE:NIO), BGI(SZ:300676), Yidu Cloud and Kanzhun/Boss Zhipin, and T11 fresh Market.
Before founding MSA, Jenny was the first Executive Director of China Venture Capital and Private Equity Association (“CVCA”) since 2002 and has founded Maple Valley Investments in 2004, a boutique financial advisory firm providing a range of corporate advisory and private placement services to blue-chip Chinese clients.
Recently Jenny has been awarded the Top 20 Healthcare Investors (36Kr) in 2020.She also sits on the Board of Directors of China Future Forum and on the Greater China Advisory Board of The Nature Conservancy.
James Zhao is a Founding Partner at LYFE Capital. He has over 20 years of experience, of which, prior to founding LYFE Capital, he was at Vivo Capital for 9 years as a Managing Partner and built their Vivo China practice. Prior to that he was a Consultant at the Monitor Group in Shanghai. Initially trained in clinical medicine at West China University of Medical Sciences he attained his MBA from Olin school of business from Washington University in St. Louis as well as his masters of science in molecular biology from Vrijie University Brussels, Belgium.