The HKVCA's annual Asia Venture Capital Forum (AVCF) was held on March 27, 2025, at Cyberport, continuing the event's tradition as a premier gathering for the venture capital community. The forum attracted close to 400 attendees from around the world and showcased the growing interest and importance of the event as part of the Asian venture capital landscape.
This year's AVCF explored a diverse range of topics highly relevant to the industry, featuring insightful panel discussions on such themes as the outlook for Asian LPs, the current vision for venture capital in China, and investment opportunities in Southeast Asia. The forum also delved into emerging technologies and their impact on the venture capital sector, offering a comprehensive view of the industry's future direction.
The event featured several notable sessions, including a fireside chat between Hon. Mr. Duncan Chiu, Legislative Council Member of HKSAR (Technology and Innovation Constituency), and Ms. Clara Chan, CEO of Hong Kong Investment Corporation Limited. Another highlight was a fireside chat with Conrad Tsang, Founder and Chairman of Strategic Year Holdings, and Fritz Demopoulos, Founding Partner of Queen's Road Capital, where they discussed the journey from entrepreneurship to becoming a venture investor.
In addition to being a platform for discussing market trends and investment opportunities, AVCF 2025 also provided a valuable space for networking and relationship building within the venture capital community. We extend our gratitude to our sponsors, including Co-hosts, Cyberport and HKSTP; Platinum Sponsor, KPMG; Luncheon Sponsor, InvestHK; Legal Sponsor, Cooley; Cocktail Sponsor, Unicorn Capital Partners, and our Silver Sponsor, Arbor Ventures. The support of our sponsors was without doubt instrumental in the event's success. Our thanks also to the attendees for their contributions and great enthusiasm. We look forward to building on these partnerships in the coming years and continuing to strengthen Hong Kong's position within the global venture capital landscape.
🕐 10:00 am – 10:05 am
Opening Remarks by Venture Committee Co-chair
🕐 10:30 am – 11:10 am
GP Panel: Tackling challenges in a rapidly-changing world
The rapid pace of change is a reality in today’s world with the result that we have come to expect the unexpected. Rising geo-political tension, together with the breakneck speed at which technology is advancing, means the venture capital and private equity markets in Asia have to constantly realign and change direction:
- What are the main factors now shaping the landscape of the venture capital and private equity markets?
- What should the priorities be for the geo market and tech sector?
- How do GPs reroute sources of capital to fill the funding gap? Through diversification and government support?
- How do startups and scale-ups secure funding moving forward and are there lessons to be learnt from the markets in Japan and South East Asia?
- How can GPs and LPs work together in the current investment landscape to create new opportunities in Asian markets?
Moderator
Andy Wong, Head of Innovation and Technology, Invest Hong Kong
Panelists
Alex Emery, President, Eight Roads
Ken Yasunaga, Founder and Managing Partner, Global Hands-On VC
Kuo-Yi Lim, Co-Founder & Managing Partner, Monk's Hill Ventures
🕐 11:10 am – 11:50 am
Panel Discussion: China
Moderator
Panelists
Eric Yang, Founding Partner, Glory Ventures
Harry Wang, Founder and CEO, Linear Capital
🕐 11:50 am – 12:30 pm
Panel Discussion: Corporate Venture Capital
- Addressing the elephant in the room, has geopolitics played a role in implementing your strategy, and if so, how have you navigated the issue so far?
- How has your corporate venture model evolved compared with the traditional Intel Capital model of 20 or so years ago?
- How can Hong Kong, its government organizations and/or academic institutions, collaborate to augment your program?
Moderator
Denis Tse, Senior Advisor, HKSTP
Panelists
Dr. Kevin Chow, Partner, Bayland Capital
Eric Ng, CEO, Happiness Capital
🕐 12:30 pm - 1:30 pm
Networking Lunch
@ Sea View Concourse, Level 3, Core E, Cyberport 3
🕐 1:30 pm - 2:10 pm
Panel Discussion: Southeast Asia
An exploration of the evolving landscape of venture capital investment in Southeast Asia, focusing on the challenges and opportunities presented by a shifting market. The panellists will discuss the impact of recent developments on the venture capital outlook for 2025 in the region and Asia Pacific more broadly.
Moderator
Audrey Menard, Director, Strategy & Value Creation, KPMG
Panelists
Matthias Knobloch, Managing Partner & CEO, Betatron Venture Group
Sheldon Li, Co-founder and CEO, Buy&Ship
Hing Cheng, Executive Director of Corporate Development, Gobi Partners
🕐 2:10 pm - 2:50 pm
Panel Discussion: The Future of Web3 Investment: Where’s the Smart Money Going?
Web3 is transforming digital ownership, finance, and community engagement, but what does this mean to investors? Bringing together leading investors with in-depth experience in navigating the evolving Web3 investment landscape, the key trends shaping the sector will be explored as well as the challenges of investing in decentralized technologies, and the strategies for identifying high-potential Web3 projects. Whether you’re a venture capitalist, an institutional investor, or a retail participant, this session will provide valuable insights into the risks, rewards, and future of Web3 investment.
Moderator
Rachel Lee, Director of Web3 and FinTech Development, Cyberport
Samuel Tse, Head of Investment and Strategic Partnership, Animoca Brands
🕐 2:50 pm - 3:10 pm
Fireside Chat: The journey from entrepreneur to VC
🕐 3:10 pm - 3:50 pm
Panel Discussion: LP
Moderator
Wei Hopeman, Co-Founder & Managing Partner, Arbor Ventures
Panelists
Mingchen Xia, Co-Head of Asia Investments, Hamilton Lane
Dominik Burckgard, Managing Director, Partners Capital
Edward Cumberlege, Managing Director, Sagamore
Tommy Yip, Founder & Managing Partner, Unicorn Capital Partners
🕐 3:50 pm - 3:55 pm
Closing Remarks by Venture Committee Co-chair
Tommy Yip, Founder & Managing Partner, Unicorn Capital Partners
Samuel Tse
Head of Investment and Strategic Partnership,Animoca Brands
Melissa Guzy
Co-Founder & Managing Partner,Arbor Ventures
Melissa C. Guzy is the Founder and Managing Partner of Arbor Ventures. Before the founding of Arbor Ventures, Melissa was a Managing Partner and a member of the Investment Committee at VantagePoint Capital Partners, where she invested in early stage technology companies in Asia, Europe and Silicon Valley. Her current board positions include EverCompliant, Fundbox, InCountry, Tabby, Planck Re and TrueAccord. Melissa was the investor board member of Paidy which was acquired by Paypal for $2.88 billion. Melissa also sits on the Board of Trustees of The Jackson Laboratory whose mission is to discover precise genomic solutions for disease and empower the global biomedical community in the shared quest to improve human health.
Melissa attended Wellesley College and earned a master’s degree in Finance from the University of Florida. She is the author of the paper “Venture Capital Returns and Public Market Performance”. Melissa is the Co-Chair of the Hong Kong Venture Capital Association (“HKVCA”) Venture Committee, a member of the Board of Directors of the HKVCA and the Singapore Venture Capital Associate and a former member to the Hong Kong SFC on Innovation. Additionally, she was a guest lecturer on the Venture Capital Industry at the University of Florida, Hong Kong University, Chinese University of Hong Kong and the Hong Kong University of Science and Technology. Melissa is also a Hopkins Fellow and participated in the Women’s Leadership Program at Harvard University. She has been recognized as a Top 100 Influencer in Fintech (NxtBnk), AlwaysOn Fintech Power Player, as well as one of the Top 13 Women in Asia of Tech Influencers.
Wei Hopeman
Co-Founder & Managing Partner,Arbor Ventures
Dr. Kevin Chow,
Partner,Bayland Capital
Dr. Kevin Chow is a distinguished investment professional with a Bachelor of Laws from the University of Hong Kong and a Doctor of Science in Global Finance from Temple University in collaboration with Tsinghua University's PBC School of Finance.
Kevin currently serves as Partner in Bayland Capital, the exclusive investment platform for Pharmaron (a global leading CRO/CDMO group, dual listed in mainland China and Hong Kong, 300759.SZ / 3759.HK), one of the world leading CRO/CDMO companies.
Prior joining Bayland Capital, Kevin had held significant roles including Partner on Huaigai Capital (a leading venture capital firm in mainland China), Head of Investment at SF Group (global leading logistics group in mainland China, 002352.SZ), Senior Vice President at Li & Fung Group (a global leading supply chain management group), Executive Director at China Renaissance (a leading investment bank in mainland China, 1911.HK), and solicitor at Linklaters (a leading international law firm). He is also qualified as solicitor of the Hong Kong Special Administrative Region High Court.
With extensive experience in both domestic and international investments, M&A, and capital markets, he has successfully led and investment projects exceeding US$7 billion, including Proteologix, Trinomab, Flexport, Havi China, DeepWay Auto, Leaf New Materials, Juepei Supply Chain, among others.
Kevin has also earned recognition among the “2023 Top 100 Figures in the Equity Investment Industry” by China Fund of Funds Weekly.
Matthias Knobloch,
Managing Partner & CEO,Betatron Venture Group
Matthias is an Emerging Markets specialist who led more than 250 deals from across Asia as MD and Head of Debt Syndicate Asia-Pacific at HSBC prior to joining BVG.
During his time at HSBC, he oversaw the underwriting of more than US$500 billion of assets and helped establish HSBC as the leading debt capital markets business in the region.
Prior to moving to Hong Kong in 2009, Matthias worked at HSBC’s Emerging Markets team in London for four years covering the Middle East and Africa. After more than a decade at HSBC, Matthias left as a good leaver to pursue his interest in Venture Capital.
As an active and successful startup investor on his personal account basis (backing 6 companies via 9 investment rounds and with one exit in the portfolio), Matthias joined BVG on a full-time basis in 2018, having been an active investor and mentor since inception.
Matthias holds two Masters degrees, a Master of Mathematical Finance from the University of Toronto where he graduated in the Top 5 of his class and an MBA from the German business school University of Augsburg where he graduated in the Top 3. Matthias also secured a highly competitive German national scholarship to finance his Master’s program at the University of Toronto.
Outside of work, Matthias is a world-class ultra-distance endurance runner and proud father and husband.
Lawrence Chu
Founder and Chairman,BlackPine
Lawrence is passionate about supporting entrepreneurs and innovators who are shaping the future of humanity. He is the Founder and Chairman of BlackPine, a private investment company that supports entrepreneurs in transformative industries such as blockchain, AI, alternative protein, eSports, and new economy sectors. With over 20 years of investment experience, Lawrence began his career at UBS and has collaborated with global companies across various markets.
Lawrence is also a seasoned investor in crypto and Web3. He co-founded Kenetic, a crypto Web3 investor, where he has been involved in Web3 projects since 2015. He also serves as the Co-Founder and Chief Executive Officer (“CEO”) at IDA, a premier digital asset technology company based in Hong Kong, dedicated to promoting the widespread adoption of blockchain finance and facilitating seamless integration between Web2 and Web3 for businesses.
In recognition of his contributions to Web3 development, Lawrence was appointed a non-official member of the Task Force on Promoting Web3 Development by the HKSAR Government in July 2023. He is also the Founding Vice-Chair of Web3 Harbour, underscoring his expertise and influence in the field. Additionally, Lawrence is an active member of the Young Presidents' Organization (“YPO”), and an avid member of the arts community serving organizations such as the Smart Museum in Chicago, Afield fellowships in Paris, and the Tate Asia Pacific Acquisitions Committee in London.
Sheldon Li,
Co-founder and CEO,Buy&Ship
Sheldon is a tech entrepreneur focusing on the e-commerce and logistics. As the co-founder and CEO of Buy&Ship, Sheldon's goal is to make cross-border online shopping as seamless as shopping locally, and provide consumers with a global selection of products. He leverages the power of AI and community to help users find the best deals.
Sheldon firmly believes that the starting point of entrepreneurship stems from understanding market pain points, persistently solving problems, and innovation. He has founded three startups to date.
Sheldon was named "Young Entrepreneur of the Year" in the 2019 Outstanding Leaders organised by Sing Tao News Corporation.
Pang Lee
Partner,COOLEY LLP
Pang Lee is based in Cooley’s Hong Kong office, he routinely advises on partnership, corporate and securities law matters related to the organization and investment in private funds and strategic investments in the tech industry. Pang has worked closely with members of the Hong Kong start-up community cultivating its emerging companies ecosystem, with a particular focus in healthcare and emerging technology companies. Pang regularly advises private fund managers and institutional investors on United States and Hong Kong regulatory, corporate governance, and risk-related matters.
Pang brings a global perspective in his work, having worked in New York, San Francisco, Hong Kong and Shanghai in over two decades of private practice. He serves as the risk management partner for all of the Cooley offices in Asia, and is a member of the firm’s global risk management committee, the pro bono committee and DEI committee.
Pang regularly speaks at regional industry conferences in Greater China and Southeast Asia, including serving as a moderator at the Asia Venture Capital Journal (AVCJ) for over a decade. He is a member of the Legal & Regulatory Council of the Global Private Capital Association (GPCA). Additionally, Pang serves as a Trustee at the Shanghai American School, and is the chair of the Trusteeship Committee.
Pang is ranked as a leading Investment Funds lawyer by Chambers Greater China and The Legal 500 Asia Pacific. He is also recognized in Hong Kong by IFLR1000 Asia Pacific 2024 as a Highly Regarded lawyer for private equity funds work.
Pang received his JD from the University of Pennsylvania Law School, and a BS from Massachusetts Institute of Technology. He is admitted to practice in New York and is a solicitor of Hong Kong.
Rachel Lee
Director of Web3 and FinTech Development,Cyberport
Alex Emery
President,Eight Roads
Alex is President of Eight Roads, a global Venture Capital firm backed by Fidelity. Eight Roads partners with game-changing technology and healthcare companies with a presence in Europe, India, China, Japan and the US. The team is located in seven offices around the globe and manages over $11bn in AUM.
Previously, Alex spent 22 years with Permira where he headed Asia Pacific. Alex first joined Permira in London in 2002 and subsequently co-founded Permira’s Asia presence with the opening of the Tokyo office in 2005. Alex served on Permira’s global Executive Committee and worked on numerous transactions including Sushiro, Arysta LifeScience, Galaxy Entertainment Group, Grobest, Tricor, I-MED and Topcast.
Prior to Permira, Alex spent five years at McKinsey & Company in London and began his career at the French Ministry of Foreign Affairs.
Alex is a member of Yale’s Jackson School of Global Affairs Advisory Board, as well as Kellogg School of Management’s Global Advisory board. He is a regular guest lecturer for a Private Equity class taught at Kellogg by Professor Jose Liberti.
A French national, Alex has lived in Asia over 30 years and is a fluent Japanese speaker.
Hing Cheng,
Executive Director of Corporate Development,Gobi Partners
Hing currently leads the portfolio management and value creation efforts in Gobi Partners, helping portfolio companies in China / HK, ASEAN and South Asia grow and achieve exits.
Hing graduated from Dartmouth College where he received his Bachelor of Arts cum laude in Economics and Asian Studies. Prior to joining Gobi GBA, Hing held various positions in Asia, as Head of Buy-Now-Pay-Later at a fintech group Oriente, Investment Manager at TPG’s Venture Capital vehicle known as Evolution Media, Investment Banker at Goldman Sachs and Nomura, and also as a Start-up Co-Founder. He has accumulated executive-level management experience in well-funded tech startups, deep know-how of fintech and media industries, product management and operational expertise, and on-the-ground knowledge in China and Southeast Asia.
Ken Yasunaga,
Founder and Managing Partner,Global Hands-On VC
Ken Yasunaga is a founder and Managing Partner of Global Hands-On VC (GHOVC), which invests in Japanese technology startups and helps them expand to the global market, established by two Japanese and three Americans.
Before founding GHOVC, he was the CFO of Floadia, a Japanese semiconductor start-up. He also has extensive experience as a venture capitalist. Between 2013 and 2019, he served as a Managing Director at Innovation Network Corporation of Japan (INCJ), a Japanese government fund with $21B under management. Ken was also a co-founder and managing partner of a US-based VC called Entrepia Ventures between 1999 and 2013.
His venture capital experience includes 9 years in the US and 14 years in Japan, investing in technology-focused early-stage start-up companies. Ken also served as a director of the Japan Venture Capital Association (JVCA) between 2010-2013, and as Chairman of the Open Innovation Committee between 2016-2019. Now, he serves as a chair of the Global sub-committee. He was named as the first “Fellow” by JVCA. He also had multiple advisory roles in the Japanese venture ecosystem for the Japanese government, including the Cabinet Office, Ministry of Economy, and Ministry of Education.
Ken started his career at Nissho Iwai, a Japanese trading and investing company. While at Nissho Iwai’s IT division, he managed the planning and execution of $500M+ investments in IT-related companies.
Eric Yang,
Founding Partner,Glory Ventures
Eric Ng,
CEO,Happiness Capital
Mingchen Xia
Co-Head of Asia Investments,Hamilton Lane
Mingchen is a Managing Director and Co-Head of Asia Investments based in the Hong Kong office.
Prior to joining Hamilton Lane in 2014, Mingchen was a Senior Fund Manager at Tokio Marine Asset Management in Japan, where he was responsible for private equity fund investment globally. Previously, he worked at Mitsubishi UFJ Securities and Mizuho Securities.
Mingchen received an M.B.A. from Hitotsubashi University and a bachelors from Shanghai Jiao Tong University.
Clara Chan,
CEO,Hong Kong Investment Corporation Limited
Ms Chan was appointed as the inaugural Chief Executive Officer of the Hong Kong Investment Corporation Limited in October 2023. She is a barrister admitted by the High Court of Hong Kong. She was Executive Director (Monetary Management) of the Hong Kong Monetary Authority from 2020 to 2023, and Chief Investment Officer (Private Markets) of the Hong Kong Monetary Authority before then. She was an Administrative Officer in the Hong Kong SAR Government from 2004 to 2010, covering areas including home affairs, transport and financial services.
Ms Chan is a Council member of Lingnan University and a Board member of Karen Leung Foundation dedicated to work relating to gynaecological cancers. She was also the Co-chair of the World Economic Forum Global Future Council on Responsible Investing from 2023 to 2024.
Ms Chan received the Asia Industry Leadership Award of the 100 Women in Finance in 2016. She was on the global list of 40 under 40 named by the Private Equity International in 2020, and was featured in Forbes Asia’s Power Businesswomen 2024.
Ms Chan is an advocate for diversity and ESG awareness in the finance industry, and has been a frequent speaker on relevant topics.
Denis Tse,
Senior Advisor,HKSTP
Denis T. Tse is the Chief Executive Officer of Asia-IO Advisors Limited and its successor entities (“Asia-IO”), an industrial technology-focused cross-border private equity firm he founded in 2015, with offices in Singapore, Dubai and Hong Kong. Asia-IO was instrumental in the creation and investment of a number of reindustrialization-focused Hong Kong ventures, many of which are current or former tenants of the Hong Kong Science & Technology Park (“HKSTP”), including: providing seed capital to Jaguar Microsystems; carving out Advanced Assembly Materials International from ASMPT; funding the management buyout of Cloud Light Technology from TDK (acquired by Lumentum in 2023); and forming Maxnerva Technology Services (1037.HK) with Hon Hai Precision.
Prior to Asia-IO, Denis was Head of Asia – Private Investments with Lockheed Martin Investment Management Company, during which he was named “40 under 40” by Chief Investment Officer in 2014 and “25 Most Influential People in Asia Private Equity” by Asian Investor in 2013. Earlier in his investment career, Denis held direct and fund investment roles with firms including Piper Jaffray Ventures, J.H. Whitney, and HSBC Private Equity (Asia), where he was the first Kauffman Fellow from an Asian venture firm (2005-2007). Denis was also a co-founder with Acasia Technology, an early incubatee of Hong Kong Applied Science & Technology Research Institute (“ASTRI”) that was acquired by SAE Magnetics in 2004.
Denis obtained a BSc (Hon.) in Economics and Learning & Organizational Change from Northwestern University and an MBA from INSEAD. He was a resident intern scholar with Center for Strategic & International Studies, and currently serves on the China Leadership Board of the School of Global Policy & Strategy at University of California – San Diego and the Board of Advisors of the School of Education & Social Policy at Northwestern University. Denis has been a Justice of the Peace in Hong Kong since 2020, and was a member of the Advisory Council on Innovation & Technology with the Hong Kong SAR Government in 2015-2017, a board member with ASTRI in 2012-2018, and a board member with HKSTP in 2018-2021.
Andy Wong
Head of Innovation and Technology,Invest Hong Kong
Mr. Andy Wong is the Head of Innovation and Technology at Invest Hong Kong (InvestHK), the government department responsible for attracting and facilitating foreign direct investment into Hong Kong. His key focused technology segments include biotech, medical devices, healthcare, AI and robotics, microelectronics, new materials, and green technologies.
Mr. Wong has wealth strategy consulting and business development experience in high tech sector. Before joining InvestHK, Mr. Wong held various senior positions at a global leading consulting firm and a global Fortune 500 technology company specialising in corporate strategy and business development.
Mr. Wong graduated from the University of Birmingham, the UK with First Class Honor Degree in Electronic and Electrical Engineering, a Master Degree in Commerce from the University of New South Wales, Australia and a Master of Science in Real Estate from the University of Hong Kong. Mr. Wong is a Chartered Engineer (CEng) from The Institution of Engineering and Technology, the UK; and is a Member of the Certified Practicing Accounting, (CPA) Australia by training.
Audrey Menard
Director, Strategy & Value Creation,KPMG
Harry Wang
Founder and CEO,Linear Capital
Heyden Lui,
Venture Partner,Maven Asia Capital
Heyden Lui is a Venture Partner at Maven Capital Asia, where he empowers Asia’s next-generation startups and enterprises through strategic investments, blending 18+ years of expertise in both traditional industries and digital disruption. A forward-thinking architect of financial inclusion, he co-founded Ezeelink Indonesia, a trailblazing platform that simplified financial services and transformed payment infrastructure for businesses across the region.
Heyden’s legacy includes leading the digitization of 9,347 rural cooperatives in Indonesia, equipping 13 million members with financial tools and data-driven solutions to elevate livelihoods. As a Board Member of INACHAMHK (Indonesia Chamber of Commerce in Hong Kong), he cultivates stronger Indonesia-Hong Kong trade partnerships, advocating for cross-border collaboration.
Peter Mao
Partner,MiraclePlus
Peter has 15 years of experience in venture capital at China, specializing in early-stage investments. He has guided nearly 500 startups during past years at MiraclePlus.
Prior to his role at MiraclePlus, Peter was part of the team at Qiming Venture Partners and cofounded Panda Capital. His dedicated efforts within the industry have been recognized with several awards, including being listed among the 40 Business Elites Under 40 by Fortune China and as a Top 30 Early Stage Investor in China by China Venture. His investment portfolio includes ventures such as Megvii, Qiniu Ltd (02567.HK), Roborock (688169.SH), Insta360 (to be listed), and Mobike (sold at $2.7Bn USD). He has also participated in investments in Xiaomi (01810.HK) and Yunzhisheng.
Kuo-Yi Lim
Co-Founder & Managing Partner,Monk's Hill Ventures
Kuo-Yi is the Co-founder and Managing Partner at Monk’s Hill Ventures, a leading early-stage venture capital firm in Southeast Asia. He is based in Singapore and led investments in Ninja Van, Padlet, KKday, Delos, Rainforest, UrbanMetry, Hypefast, GoGet and Upmesh.
Prior to Monk’s Hill Ventures, Kuo-Yi was CEO of Infocomm Investments, a $200M venture fund based in Singapore investing in technology startups globally. At Infocomm Investments, Kuo-Yi led investments in Twilio (NYSE:TWLO) and Quid. Kuo-Yi was also a founder and early employee of various startups in Boston, San Francisco and Singapore.
Kuo-Yi serves as a board member of various government agencies in Singapore, including SEEDS Capital and the Infocomm Media Development Authority (IMDA) where he chairs the investment committee. Kuo-Yi is also a board member of SGX-listed Great Eastern Holdings and the Singapore Venture & Private Capital Association where he co-chairs the VC Subcommittee. He currently serves as a member of the Technology Council at the Global Private Capital Association.
Kuo-Yi graduated from MIT with bachelor’s, master's and doctorate degrees in electrical engineering. He started his career as a consultant at the Boston Consulting Group.
Jing Shi
Head of Investments,MTR Lab
Dominik Burckgard
Managing Director,Partners Capital
Fritz Demopoulos
Founding Partner,Queen's Road Capital
Edith Yeung
General Partner,Race Capital
Edith Yeung is a General Partner at Race Capital - an early-stage Silicon Valley venture capital fund investing in all things infrastructure. Edith is the seed investor in Solana (has been dubbed one of the best venture investments of all time), Lightning Network, Agora.io, Placer.ai, RapidAPI, and 60 other amazing startups. Prior to Race Capital, Edith was a partner at 500 Startups, the world's most active early-stage fund and incubator which invested in Twilio, Credit Karma, Grab, and 2000 more companies.
Before 500, Edith was the general manager at Dolphin Browser, a Sequoia Capital - backed mobile browser with over 150 million installs worldwide. Edith also worked with many Fortune 500 companies such as Siebel, AMS, AT&T Wireless, and Autodesk. She frequently speaks on venture capital, women in leadership, China and Silicon Valley technology and investment landscape. She is also a frequent guest lecturer at Berkeley and Stanford and commentator on BBC, CNBC, Wall Street Journal, Bloomberg, SCMP, Techcrunch, The Information, etc.
Edward Cumberlege
Managing Director,Sagamore
Edward Cumberlege is Managing Director at Sagamore, a fund-of-funds platform with a strong track record of backing top-tier private market fund managers in China and investing in category-leading companies across capital stages.
Prior to his current role, Edward was Chief Financial Officer at Neat, a cross-border payments company based in Hong Kong. He started his career at Arbor Ventures, investing in fintech startups across Asia.
Edward holds a BSc in Mathematics from the University of Edinburgh and is a CFA charterholder.
Samuel Huang
Managing Partner,Source Code Capital
With more than 15 years experience, graduated from Zhejiang University.
Samuel joined Source Code Capital in 2017, and named as Co-PM in 2019 alongside Charlie. Despite the past few years’ challenging market environment, Samuel has delivered excellent investment performance, demonstrated great leadership qualities on top of the strong investment and portfolio management capabilities. Samuel was further identified as the next generation leader to succeed the firm’s venture capital strategy with a goal to achieve long term sustainable growth.
Samuel previously served as Managing Director for Matrix Partners China. Samuel’s historical investments include Liepin (6100.HK), Kuaidi Dache (acquired), Motianlun Ticket etc.
In 2023, Samuel was named to the “2023 China Top Venture Capitalist List” by Jiemian and recognized as one of the “2023 Supernova Investors” by ChinaVenture. In 2020, Samuel was nominated and chosen to join the “The 2020 Midas Brink List” by Forbes.
Conrad Tsang
Founder & Chairman,Strategic Year Holdings
Mr Tsang has been in the private equity and venture capital industry for over 20 years. Mr Tsang’s industry experience includes: environmental technologies, healthcare, education and professional services, TMT, financial services, retail and consumer products/services, advanced manufacturing, automotive, ecommerce/logistics, energy and alternative energy, real estate, natural resources/mining etc. The companies he has been involved with include Noah Education Holdings Limited, Minsheng Education Group (1569.HK), Galloping Horse Media Group Limited, Kangda International Environmental Protection Holding Limited (6136.HK), Pansoft Group Limited, Ambow Education, Hidili Industry International Development Limited (1393.HK), Launch Tech Co Ltd (2488.HK), Great Wall Auto (2333.HK, 601633.CN), Nord Anglia Education, China Mini-Storage, Teky Holdings, Carsome, Cakap, Sayurbox, Halodoc, Haus!, Buyandship, AMPD Energy. Prior to founding Strategic Year Holdings Limited, he spent 13 years at Baring Private Equity Asia (“Baring Asia”), where he was Managing Director. He was the Founding Partner of Baring Asia’s Beijing office. Prior to that, he was with Merrill Lynch Asia Pacific doing equity research, focusing on media and retail sectors. Since 2016, he became Founder and Chairman of Strategic Year Holdings Limited.
Mr Tsang is currently President and Director of the Hong Kong Venture Capital and Private Equity Association (HKVCA). Previously, he was Hong Kong Venture Capital and Private Equity Association’s Chairman of the Board (2013-2015). He was voted one of “The 50 Best Venture Capitalists in China” by Forbes China Magazine (2008, 2009). Mr Tsang is a Member of Oxford Investment Opportunity Network (OION), Member of Imperial College Investor Network, and Member of Hong Kong Cyberport Investor Network (CIN). He was also invited to serve as Asia Senior Advisor of Apollo Education Group/Apollo Global, a global higher-education company.
Mr Tsang obtained a Master’s Degree in Management Studies at University of Oxford, United Kingdom; and a Bachelor’s Degree in Electrical and Electronic Engineering (First Class Honors) at Imperial College of Science and Technology, London, United Kingdom. He also completed an executive program on Private Equity and Venture Capital at Harvard Business School, US.
Personal Awards:
CBN Weekly, “2011-2012 Most Valuable Partners 50 in China”
Forbes China Magazine, “2008,2009, The 50 Best Venture Capitalists in China”
Top Capital Magazine, “2008 The Best PE Investor of The Year”
China Most Valuable Venture Enterprises Awards, “2008 The Best PE Investor”
Zero2IPO Group, “2007, 2009, Top 10 PE Capitalists in China”
World Eminence Chinesebusiness Association, “Top 100 Most Visionary Chinese Investors (2007, 2008)”
China Venture Group, “2008 The Top 30 PE Investors of The Year”
The Honourable Duncan Chiu
Legislative Council MemberTechnology & Innovation Constituency
Duncan has been a driving force in Hong Kong’s innovation and technology (I&T) development since early 2000. He is an active advocate of I&T policies, an experienced entrepreneur and investor, and is often regarded as the leading figure in the local I&T industry.
Duncan was elected to the 7th term on the Legislative Council in 2022. In addition to serving the industry, he frequently proposes initiatives related to I&T, financial, economic and public health affairs. The relevant authorities recognise them as contributory and specialist input in the formulation of policies and improvements to governance.
Duncan has been a key contributor to the upstream, midstream and downstream sectors of Hong Kong’s I&T ecosystem. In the upstream sector, he serves as Chairman of Advisory Committee of the Department of Systems Engineering & Engineering Management of The Chinese University of Hong Kong, and as a Member of Advisory Committee of The Hong Kong Polytechnic University. In the midstream, he is Chairman of Steering Committee of the Research, Academic and Industry Sectors One-plus Scheme (RAISe+). In the downstream sector, he is Chairman of HKTDC Information & Communications Technology (ICT) Services Advisory Committee and Convenor of Innovate for Future, a think tank representing some of the leading startups. Furthermore, Duncan is President of Hong Kong Information Technology Joint Council, which fosters the entire ecosystem to cohere.
Besides his role in LegCo, Duncan is a professional investor, having participated in or invested in hundreds of I&T projects. He frequently shares his insights at industry forums and serves as a mentor to numerous young entrepreneurs.
Duncan was raised in a family with a long history of involvement in the entertainment and amusement park industry. He is a passionate defender of local culture and Chairman of Lai Yuen Company Limited, an entertainment platform and one of the most recognized nostalgic icons in Hong Kong.
Duncan is also dedicated to community affairs. He is a Member of Hospital Authority (HA), and Chairman of Hospital Governing Committee of Kwai Chung Hospital and Princess Margaret Hospital. He plays a pivotal role in the advancement of smart hospitals by serving as Chairman of HA’s Information Technology Services Committee, which is responsible for integrating technological elements to enhance efficiency, streamline hospital operations and elevate the patient experience.
Duncan is a sports enthusiast with a particular interest in squash. He is Secretary-General of Asian Squash Federation and Chairman of Squash Association of Hong Kong, China. Under his leadership, Hong Kong squash athletes continue to maintain high world rankings and achieve notable success in both international and domestic competitions.
Rafael Ratzel
Managing Partner,TH Capital
Rafael Ratzel has been an integral part of TH Capital (华控基金) in Beijing since 2016, spearheading the firm's international initiatives as the head of TH Capital International. His strategic leadership resulted in the successful closing of the firm’s inaugural USD Fund in 2024, extending opportunities for international investors to access growth capital investments in Chinese deeptech. The international team at TH Capital also supports portfolio companies in introducing innovative Chinese technologies to a global customer base.
Before his tenure at TH Capital, he held several operational roles at Siemens and Bosch in Europe and as a consultant with Roland Berger in Beijing. He further enhanced his cross-border investment expertise at CMIG Investments in Shanghai.
Rafael holds dual degrees in Engineering (Industrial and Systems Engineering) and Business Administration (Management) from the Hong Kong Polytechnic University. He has also acquired MBA degrees from Tsinghua University in Beijing and the Sloan School of Management at the Massachusetts Institute of Technology (MIT).
His strategic insight and leadership are also recognized in his role as a board member of the German family office and industrial holding group AEQUITA.
Tommy Yip
Founder & Managing Partner,Unicorn Capital Partners