Asia Venture Capital Forum 2020
6 July, 2020
The HKVCA’s Asia Venture Capital Forum 2020 was held on Monday, July 6, 2020. Due to the ongoing COVID-19 pandemic, this year’s event was held via a virtual platform – the first time in fact that the HKVCA has hosted a fully virtual conference event. We were extremely pleased to receive more than 500 registrations by PE and VC practitioners from locations around the world.
The event featured a jam-packed, three-hour program that included four fireside chats and three panel discussions. Chief among the many and varied topics was the impact of COVID-19, both in the long and short-term, with many of the speakers noting the rapid way the industry has adapted its work processes to the changing physical realities and embraced digitization. Speakers also shared their thoughts on those investment sectors they expected to do well and those that will continue to struggle. Among the sectors that continued to be well-funded, for example, were healthcare and digital payment and remit platforms. Nonetheless, there appeared to be a degree of consensus among the speakers that startups, particularly those at early stage, would continue to face fundraising challenges, with most funds going to already successful ventures closer to exits. This did not mean, however, that bargains could not be found, with some speakers noting this was a good time to invest given current low valuations. Finally, there was discussion on what all acknowledged was a still turbulent US-China trade relationship.
We would like to extend our sincere gratitude to Cyberport and the Hong Kong Science and Technology Park for co-hosting the event. We would also like to thank our sponsors, specifically Citi and KPMG, our Platinum Sponsors, and Ogier and Wood Mallesons. The loyalty of our great sponsors is what made this event possible. Of course, our thanks to all the speakers and attendees for their enthusiastic participation, especially to those who voted in our polls and asked our speakers such though provoking questions. It was the enthusiasm of our participants that made this, our first virtual event, so successful.