The 2018 AVCJ Private Equity & Venture Forum – USA successfully took place in New York City on July 12. The event bought together over 170 private equity professionals including 85 LPs, representing 135 different organizations, to hear some of Asia’s leading investors share their knowledge and experience on doing business in the region’s most attractive markets.
The conference kicked off with an opening address by Peter Cornelius from AlpInvest focusing on Global Macro Perspectives and the Rise of Private Capital in Asia this was followed by a senior panel featuring executives from HarbourVest Partners, CDIB, Citic Capital, and Navis Capital Partners discussing the best strategies to approach the Asian market in today’s environment. Other highly interactive and informative sessions included ones on Venture Capital in China, Japan and India. The day was rounded off with a panel of seasoned US investors State of Michigan Retirement systems, Guardian Life Insurance, Allstate Investments and New York State Common Retirement Fund who share their tips for investing in Asia.
The premier private equity & venture forum in USA
Limited Partners from the following organisations that attend include:
50 South Capital
57 Stars LLC
ADAC Properties Investments
Alfred P. Sloan Foundation
APG Asset Management
Asia Alpha Private Equity
Blue Spruce Global Advisors
Canadian Medical Protective Association
Charles Stewart Mott Foundation
China Investment Corporation
EE Capital Pte Ltd
Golden Alpha US LLC
Guardian Life Insurance Company
Helix Capital Partners
Helmsley Charitable Trust
International Finance Corporation (IFC)
Karthala Capital Management
Landmark Family Office
Manchester Capital Management
Memorial Sloan Kettering Cancer Center
MSF Capital Advisors
New York City Retirement Systems
Overseas Private Investment Corporation (OPIC)
Park Ave Capital Mgmt Intl.
Peter Kimmelman Asset Management LLC
PineBridge Investments Asia Limited
Portfolio Advisors, LLC
Ravinia Capital Group
Robert Wood Johnson Foundation
Stetson Family Office
Stony Brook Foundation
The Andrew W. Mellon Foundation
The Johnson Company
The Leona M. and Harry B. Helmsley Charitable Trust
BDA Partnersis an investment banking firm that advises on international mergers and acquisitions, distressed situations, private placements, capital raisings, valuations and financial restructurings. We specialize in cross-border transactions involving Asia with enterprise values up to US$1bn, where we have a strong track record advising North American, European, and Asian corporates and financial sponsors. We have over 80 professional staff throughout 10 offices located in Asia, the US, and Europe.
CDIB Capital Group (“CCG”) is the private equity arm of China Development Financial (“CDF”) to deploy and diversify the group’s proprietary capital within and outside of Taiwan. Today, CCG and its affiliates collectively manage in excess of US$2.5 billion of proprietary and third-party capital from a wide range of institutional investors and family offices globally.
CDFis one of the largest and most established merchant banking groups in Greater China with US$80 billion in assets and is Taiwan’s first and leading direct investment firm with over 50 years of investing experience in the region. CDF and its affiliates now provide a full range of integrated financial services, including principal investments, asset management, corporate and retail banking, regional and global investment banking, brokerage, securities, and insurance to our clients. Our key subsidiaries include: CDIB Capital Group, KGI Bank, KGI Securities, and China Life Insurance.
CCG invests in compelling growth-oriented companies seeking to capitalize on cross market opportunities in the Asia-Pacific region. Over the last decade, CCG has refined CDF’s China investment concepts and developed its unique “China-Plus” strategy. Our industry expertise, extensive local knowledge and regional footprint enable us to collaborate with our portfolio partners to boost enterprise value and cross fertilize between China and closely linked economies.
CCG is able to leverage the breadth and strength of the CDF platform, which offers a number of unique advantages, including significant proprietary deal-sourcing, deep industry expertise, extensive network and capital market capabilities.
CCG has local presence in Hong Kong, Shanghai, Seoul, Taipei and New York.
Huaxing Growth Capital is the flagship of China Renaissance’s investment management platform, and makes growth-stage equity investments in innovation-driven ‘new economy’ entrepreneurial ventures in China’s burgeoning technology, media and entertainment industries. It pursues a thematic investing approach to uncover business models that will benefit from long-term trends in technology innovation, industry transformation through automation and other advancements, and rising standards of consumption and lifestyle amenities in China.
Since its founding in 2013, Huaxing Growth Capital has demonstrated a solid deal track record and differentiated itself thanks to the resources of the China Renaissance platform, which includes private placement and M&A advisory services, securities underwriting, research and trading in Hong Kong, mainland China and the United States. Today, Huaxing Growth Capital has nearly $3 billion in assets under management and investments in China’s most valuable new economy companies.
Recent investments include: Ziroom, China’s largest decentralized apartment rental service provider and internet platform; Lianjia, an online platform for real estate transactions; Zhaogang, an online exchange for commercial steel trading; and JD Finance, the internet-based financial services unit spun off from the e-commerce company JD.com.
CLSA Capital Partners is the asset management business of CLSA, Asia’s leading capital markets and investment group. Established in 1995, CLSA Capital Partners manages a diversified range of strategies including private equity, real estate, credit and transportation-and-real asset. From eight offices across Asia-Pacific including Hong Kong, Singapore and Tokyo, the firm’s experienced investment teams aim to generate attractive returns for clients while ensuring sustained value creation for portfolio companies and investment partners.
Sunrise Capital, a Japan-dedicated private equity strategy of CLSA Capital Partners, capitalises on opportunities in the mid-cap buyout sector. Sunrise Capital’s unique features include an extensive “body-on” approach, which includes seconding professionals to assist portfolio companies in realising their growth potential, and support with overseas expansion through CLSA’s global network. Sunrise Capital has raised approximately US$1 billion to date (as of May 31, 2018) and completed investments in 15 companies since its establishment in 2006.
Denning & Company LLC is a FINRA registered global private equity advisory firm headquartered in San Francisco, California. Founded in 2001, Denning & Company, LLC provides consulting, marketing, and fundraising services to established general partners as well as newer teams offering unique investment ideas or solutions to limited partner investors worldwide. With over 70 years of combined industry experience, the Denning and Company team has raised capital in excess of $14 billion for general partners based in the U.S., Japan/Asia, UK/Europe, Russia, and Israel from a limited partner base similarly diversified.
For over three decades, Eaton Partners has been widely recognized as the world’s leading fund placement firm. With over 75 employees in nine offices worldwide, our reach is extensive and our dedication to capital raising is unparalleled. Our professionals have strong, long-held relationships with over 4,000 of the largest, most active institutional investors in the US, Europe and Asia. Since 1983, the firm has participated in raising over $90 billion of institutional capital across more than 110 highly differentiated alternative investment funds and offerings, including limited partnership interests, general partner interests, co-investments and direct investment opportunities. With extensive institutional relationships, deep sector knowledge, and fresh insights, Eaton Partners is dedicated to every client’s success and we have proudly won Private Equity International’s “Placement Agent of the Year in Asia” for three consecutive years. In January 2016, Eaton Partners became a wholly owned subsidiary and affiliate of Stifel Financial Corp., a leading middle-market investment bank, to further ensure Eaton’s success at the highest level of the global placement business.
Eaton Partners is a Division of Stifel Nicolaus & Company, Incorporated, Member NYSE, & SIPC. Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners Advisors (HK) Limited is regulated by the Hong Kong Securities and Futures Commission (SFC). Eaton Partners Advisors (HK) Limited is approved as a Type 1 License company under the Securities and Futures Commission (“SFC”) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company ® Eaton Partners, LLC, 2018.
HarbourVest is an independent, global private markets investment specialist with more than 35 years of experience and more than $50 billion in assets under management. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 400 employees, including more than 100 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $34 billion to newly-formed funds, completed over $19 billion in secondary purchases, and invested over $8 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.
KOTRA (Korea Trade-Investment Promotion Agency) was established in 1962 as a national trade promotion organization, focused on creating new export markets and encouraging trade and foreign investment. With the vision to be a ‘global business platform’, KOTRA continues to strengthen the global capabilities of SMEs and attract foreign firms and investors in order to build a partnership of sustainable growth. As of today, KOTRA has an extensive global network of 127 of overseas offices in 86 countries.
Invest KOREA, Korea's national investment promotion agency, was established within KOTRA with the sole purpose of supporting the entry and successful establishment of foreign business into Korea. Invest KOREA attracts foreign investment by identifying potential investors, assisting investment projects, providing aftercare services and building a cooperative network with involved organizations. The agency is committed to providing unmatched, comprehensive one-stop service that allows foreign investors to join many of the world's most successful corporations who have selected Korea as an investment destination.
Ocean Link is a private equity firm with a focus on China’s travel and leisure sectors. Through a USD fund and an RMB Fund, and teams in Shanghai, Beijing and Hong Kong, Ocean Link invests across the value chain and sub-verticals of the travel and leisure sectors, including online & offline travel services, hotels and resorts, destination services and entertainment, sector-related technology and business solutions providers.
Ocean Link’s strategic partners and shareholders include Ctrip - the largest online travel agency in China, and General Atlantic - a leading global growth equity firm. The funds’ LPs include Chinese and global corporates, financial institutions, and sovereign wealth funds.
Founded by four rising star investors, Panda capital is a next generation venture capital firm in China focused on early stage investment opportunities. The founding team, comprising Adam Li, Tony Liang, Ryan Li and Peter Mao, together bring the best DNAs from their prior institutions respectively. The four of them have a strong track record of identifying and investing in unique investment opportunities, and also possess extensive entrepreneurial experience, having founded and run several successful start-ups.
Panda Capital focus on fast-growing TMT startups in areas including Consumption Upgrade, Automobile and Transportation, Fintech, Entertainment, Supply chain and New Technology etc. We target businesses and industries where mobile internet technology could potentially disrupt traditional business models. We also target trade and service platforms created through the mobile Internet driven sharing and novel experience economies.
Panda Capital has been backed by institutional and reputable investors since its inception. The firm now manages one RMB Fund and one USD Fund.
Companies invested by Panda include: Mobike, Atzuche, MemeDai, YiZiton, Kaiyun Motors, Coterie etc.
Tata is India’s largest and most diversified industrial grouping. Founded in 1868, the group has a long history of creating and nurturing businesses. The Tata group is made up of over 100 independent operating companies of which 29 are publicly listed and which together have an aggregate market capitalization of ~USD 145 billion (as at 31 March 2018). During the financial year 2016-17, the total revenue of Tata companies, was ~USD 100 billion. Tata is one of India's most trusted and highly respected business houses and is India's best recognized brand. Tata Capital’s private equity franchise benefits from this privilege and builds on the group's "leadership with trust" credo in supporting its investee companies.
The Tata Opportunities Fund (TOF) is a ~USD 600 million private equity fund raised predominantly from leading global institutions and is primarily focused on investing in India. TOF has a differentiated strategy of investing into proprietary deal situations leveraging Tata’s wide network and resources. TOF’s current investments span high growth markets within consumer, industrial, infrastructure, services and technology. Each of TOF’s portfolio companies has strong governance and management; a focused business strategy; highly respected Indian/global partners; and is a market leader of scale. Through an experienced team of private equity professionals and operating partners, TOF leverages Tata’s strong track record of generating shareholder returns. A follow-on fund of similar scale and strategy has been launched.
Unison Capital, originally founded in 1998 by three founding members, operates mid-cap buyout funds in Japan and Korea. In Japan, Unison Capital is widely recognized as a pioneer in the industry and has the longest track record in its space. In 2014, Unison Capital expanded in Korea to apply its well-tested mid-cap strategy and harness its deep Japan network for value-add.
Since its inception, Unison has launched four Japan-focused funds and invested in 29 companies with 20 exits. Today, Unison manages JPY 70 billion (~$700 million) for Fund IV. In Korea, Unison Capital raised KRW 307 billion (~$280 million) for its debut fund and has four portfolio companies and one exit was completed in September 2017. To date, cumulative investment amounts are JPY 850 billion (~$8 billion) and KRW 320 billion (~$280 million) in enterprise value, respectively.
Unison’s Tokyo and Seoul office are comprised of 30 investment professionals, having diverse professional backgrounds in finance, strategy consulting and operations. Furthermore, Unison’s broader network extends to in-house management advisers, financial institutions, consulting firms, and other experts in two countries and beyond to drive the robust growth of our portfolio companies.
VIG Partners (formerly known as Vogo Investment Group), founded in 2005, has comprehensive experience and expertise in the Korean mid-market buyout sector, with successful track records across a diverse range of industries, including financial services, consumer goods, online and mobile commerce, and household appliances. Over the 13 year period, VIG Partners has invested over $2.5 billion of capital across 17 portfolio companies in Korea, with shareholding control in 15 of these companies. The firm’s investments include BKR (master franchisee of Burger King), Samyang Optics (leading interchangeable lens manufacturer), Bodyfriend (#1 massage chair manufacturer), Enuri.com (leading e-commerce portal), Mcorset (leading underwear manufacturer), Jo Un Life(leading funeral service company), Auto Plus(2nd largest used car retailer), P&C(#1 supplier of mask sheets for facial masks), Tong Yang Life Insurance (#5 largest life insurer), BC Card (largest credit card processing company), Hiparking (leading parking management company) and Novita (leading electronic bidet manufacturer).
JD Capital is one of the leading private equity firms in China with over $8 billion of assets under management. Founded in 2007, JD Capital has invested over 300 growth opportunities in Chinese mid-market, and has created long-term value to investors, businesses and communities in which we work. With the first proprietary deal sourcing network across China, JD Capital has successfully implemented buy and build strategy by partnering with industry leaders and applying our insights of Chinese market.
JD Capital manages 2 USD funds for insurance companies, fund of funds, sovereign wealth funds, and family offices globally. Our USD funds have invested in leading companies from consumer goods & services, healthcare, and industrials, including Beiwang Pork, Club Med, Flag Chemical, HDHM, Liuzhou Pharmaceutical, Shansong Express, and Trans Maldivian Airways.
China Creation Ventures (CCV) was founded by the former KPCB China Managing Partner, Wei Zhou, and a team of seasoned investment experts who have worked closely together for several funds in the past.
The fund focuses on early stage and growth stage companies in TMT industry in China, including Fintech, technology innovation, pan-entertainment，big data, AI, and Chinese companies going oversea related opportunities.
With the majority of members from KPCB China, the CCV team has developed deep domain expertise and insight into the TMT industry. The companies they invested at early stage include JD.com (NASDAQ: JD), JD Finance, VenusTech (SZ: 002439), Manzuo.com (acquired by SuNing), ID5.com (acquired by Huaming Intelligence SZ:300462), CreditEase (NYSE: YRD), Rong360（NYSE: JT）, China Valley Mobile Finance, Ximalaya FM, Miaopai Mobile Video (Yixia.com), ULUCU (NEEQ: 837110), Miaozhen Systems, Asia Innovation Group, Tantan(acquired by Momo NASDAQ: MOMO),Meicai.com.
Many of the new fund’s portfolio have seen significant business growth and closed a new round of financing, including JD Finance, Perfect, Ice Kredit, Zuzuche, Veer VR, Wanka, Menya, Rosemary, Bizvane, etc.
CCV has been widely recognized with the following awards: LP’S Favorite VC by 36kr.com, Annual Business Hunter by Economic Weekly, Best VC Top 20 by Hunting Cloud Network, and Annual Best New Investment Institute by Zero2IPO Group, ChinaVenture, The Beijing News, China Investment, Small Table, etc.