PRESS COVERAGE
  • 新闻稿 即时发布 中国日报汇聚创投菁英 聚焦早期及天使投资新模式 2019年 11 月5 日,中国日报与香港数码港合办题为“透视今昔:早期及天使投资新模式”的专题研讨会,超过300名创业者、天使投资者和风险投资者等嘉宾参会。 该专题研讨会在“数码港创业投资论坛”期间举办,香港特别行政区创新及科技局局长杨伟雄、数码港主席林家礼和数码港行政总裁任景信等一同主持论坛开幕礼。 本次专题研讨会的演讲嘉宾包括数字交易有限公司先进技术商务总监胡喬先生、Kewpie Associates专业天使投资者約翰安森先生 (John Ason)、浩观科控资本管理合伙人人馬衡先生和Spark Ventures 创办人及董事总经理羅啟銘先生。 胡乔强调,市场的整体心态已经发生变化,很多投资者都会就正在投资的项目做更多更深层次的自我反省。尽职调查不能仅停留于社会认同,只关心别人正在做什么。他指出公司正尝试了解科技本身,以达至严于律己。 约翰安森指出,这个市场里的参与者才能不断带来新的天使投资以及风险投资。所以初创企业需要做的是,不断建立社交联系、分享想法,以及学会和其他人合作共赢。 马衡表示,初创企业应该多与客户交流,了解市场需求,帮助客户和其他企业去解决问题。从风投角度来看,投资初创企业等于帮客户建跑道,从满足客户需求的角度出发,从而带来盈收。 罗启铭说,过去几年,香港初创企业的生态有很大改变,不同的投资者和机构都参与其中,而香港特区政府亦投放几百亿资金来支持创新和科技界,透过与数码港这样国际级的孵化器合作,为初创企业提供资源,并帮助他们扩展业务。 关于中国日报 中国日报是中国国家英文日报,创刊于1981年,拥有报纸、网站、移动用户端、脸谱、推特、微博、微信、电子报等十余种媒介平台,全媒体用户总数超过2亿。截至2019年9月,中国日报微博粉丝数超过4650万;微信订阅人数640万,用户端全球下载用户超过2200万,是我国唯一下载量过千万的英文新闻用户端;脸谱帐号粉丝数超过8000万,位居全球媒体帐号粉丝数第二位;推特帐号粉丝数430万。 关于中国日报亚洲领袖圆桌论坛 亚洲领袖圆桌论坛(www.cdroundtable.com),旨在搭建一个由亚洲国家和地区的政、商、学界领袖和社会精英参与的高端对话和交流平台,围绕亚洲地区经济、商业、产业和社会发展等具有战略影响的重要议题展开讨论和分享见解,以增进中国与亚洲和西方国家的交流和理解。
    2019-11-05
  • Hong Kong’s strong foundation as an innovation and foreign investment center worldwide has remained intact, backed by a string of factors, including the city’s status of a global financial and business hub, according to professional angel investor John Ason. He cited the city’s rule of law, its history and people with rich cultures distinctive from other regions around the world, which provide investors with greater accessibility that could not be replicated elsewhere. Talking to China Daily on the sidelines of the Cyberport Venture Capital Forum in Hong Kong on Tuesday, Ason said he sees the ongoing social unrest having just a short-term negative impact on the local tourism and other businesses. In the long term, he believes the central government and the HKSAR government could come out with good resolutions to end the unrest. Boosted by prospects created by the Guangdong-Hong Kong- Macao Greater Bay Area development, Ason, who has more than two decades’ experience in angel investing, said tremendous opportunities have emerged in the region for startups and investors alike. “The advantage you have is the enormous 70-million population who are potential customers within walking distance,” he noted, adding this is what other countries and regions with smaller populations are dying for. Another key major advantage of the Bay Area is Hong Kong’s essential role as a global financial hub where international business is booming, he said. Ason said he’s now looking at startups’ portfolios in Hong Kong in search of the next pre-revenue company with potentials. Ason shared his investment philosophy before joining the roundtable panel discussion themed “Then and Now: The New Formula for Early Stage & Angel Investment”, co-organized by China Daily and Cyberport. Unlike most investors nowadays who look mainly at the revenues of early-stage companies, Ason specializes in investing in pre-revenue companies with few customers. His job is to help those startups focus on a customer segment to generate revenue and grow as a mentor. In the past 20 years, Ason has made more than 90 eclectic investments in the fields of e-commerce, technology, advertising, digital social media and entertainment. His 90 companies boast of 21 female founders and 14 international enterprises with 30 currently active firms. “As an investor, I want to invest in regions with a rule of law and history that we’re comfortable with instead of countries with laws that I can’t understand,” Ason, said, speaking from an angel investor’s perspective. He also stressed the value of people, which is one of the criteria he would be looking at in investments. Ason said Hong Kong’s young people do have the entrepreneurship spirit as the city has a thriving startup culture. Angel investment — an investment plowed into new or small business ventures for expansion — has gone through earth-shaking changes with the rapid development of the internet and digitalization. Ason recalled that when he started angel investing 22 years ago, his crew had to buy a computer server, a computer with a high cost. However, information technology has since lifted efficiency and lowered costs, and the speed of developing companies has also become dramatically faster. “The founders and entrepreneurs tell me what the trends are and what the future holds. I follow them,” Ason said. “It’s the people, sharing ideas and working together that bring in other angel investments and venture capital,” he explained.
    2019-11-05
  • Early-stage investors in Hong Kong have become more conservative, considering the city’s current dire conditions and the ongoing Sino-US trade spat, says an industry insider. Many Hong Kong-based venture capital (VC) funds now prefer to wait and see, Vincent Law — founder and managing director of Spark Ventures — told China Daily after participating in a panel discussion entitled “Then and Now, The New Formula for Early Stage & Angel Investment” at the Cyberport Venture Capital Forum in Hong Kong on Tuesday. “They may not be willing to take the lead in some deals in Hong Kong, as they have no idea when the unrest will end. So, being conservative is better than losing money for them,” he said. At the same time, some investors seeking safety from risks are likely to turn to the Chinese mainland or overseas to source deals instead of just focusing on Hong Kong. When the market is more conservative, relatively, the valuation of startups in Hong Kong drops. Many startups are now concerned about whether they can raise the funds, Law noted. “There may be a discount in the amount of money they could raise,” he said. But, startups have to accept the result because if they don’t get the money, they may not be able to survive. As an investor, Law said he prefers startups that are capable of moving out of the region to those that stick to a single market. “If a company just depends on a single region market, there’re risks there. And you can see it right now,” he explained. “In fact, it’s something that entrepreneurs need to sort out even before they start the business.” Law believed that founders of startups need to have a long-term plan for their companies, such as how to enter a market. He loves spending hours talking to founders before deciding on making an investment. “I need to know the reason they’re starting a business, especially for early-stage venture investment, because they have no performance and there’re no figures. Sometimes, in a seed round or angel round, it really depends on the people.” In his view, good people with a not really good business model can still continue to improve on it and make it better. For people who’re not that promising, but can provide a very good business model, their business is likely to end up in failure. Law will keep asking startup founders see whether they’re familiar with the things they’re doing. At the same time, he has to constantly ask himself during the process if this is “a good timing to support a good deal with a good price”. As a third-generation member of the family fund, Law used to invest in real estate. To learn more about the new economy, he jumped into venture investment to focus more on businesses that use technology to solve problems. Compared with traditional VC funds, he believed family funds have more flexibility with using the capital as he could manage his own family money rather than raising money from other shareholders. According to Law, Spark Venture normally makes two or three deals a year.
    2019-11-05
  • For Immediate Release PRESS RELEASE China Daily Gathers Investors to Discuss the New Formula for Early Stage & Angel Investment Nov 5, 2019, HK: Co-organized by China Daily and Cyberport Venture Capital Forum, a panel discussion session, themed “Then and Now: The New Formula for Early Stage & Angel Investment” was held at the Cyberport Venture Capital Forum on Tuesday, Nov 5, 2019. It attracted more than 300 venture capitalists, entrepreneurs and super angels. According to the statistic collected from June to September, the startup ecosystem of Hong Kong has skyrocketed in recent years. The total number of start-up increased from 2,625 to 3,184 from 2018 to 2019. The number of staff employed in start-ups increased from 9,548 to 12,478 from 2018 to 2019. However, in recent years, larger venture capital firms are becoming less active in funding start-ups and channelling their investments towards later-stage venture. This is giving rise to more angel investments and investor syndicates for seed and early stage. Furthermore, accredited investing portals have emerged to create connections between entrepreneurs and angels, bringing additional fluidity and ease to this market. The panel had four influential investors and experts. They are Mr. John ASON, Professional Angel Investor, Kewpie Associates; Mr. Anthony WOO, Vice-president of Product Strategy of Digital Transaction Limited; Mr. Vincent LAW, Founder and Managing Director, Spark Ventures; and Mr. Theodore MA, Managing Partner, CoCoon Ignite Ventures. They shared their views on the shift in the characteristics and examine the new formula of early stage and angel investments. Mr. Ason said that it’s the people that brings in other angels and other likely venture capitals. He advised entrepreneurs to look for the networking, show their ideas and work with other people. Mr. Woo pointed out that the general mentality is changing today in the sense that plenty of investors are doing more soul searching and reflection to deeply understand what they are investing in. He said that the due diligence should not only be based on social evidence - what other people are doing. For his company, they are trying to be more disciplined in the sense that they really try to understand tech itself. Mr. Law said that the local startup scene has changed a lot in the past few years as more and more new investors are joining the game, be it local venture capitals, corporate venture capitals, venture funds set up by family offices or funding schemes launched by the Hong Kong government and world-class incubators like Cyberport. Mr. Ma said that startup is really solving problems. He advised entrepreneurs should go out and talk to people in order to understand the needs in the market. From a venture capital’s point of view, they are investing companies to essentially give them more runways. Investment money isn’t the money that entrepreneurs make. Instead, entrepreneurs should get money from customers and customers are only willing to pay if they understand the companies are actually solving the problems. About China Daily Founded in 1981, China Daily covers 200 million readers and users worldwide through diversified platforms, including newspapers, websites, and mobiles and social media. The number of China Daily’s followers had now reached 46.5 million on Weibo, 5.8 million on the WeChat Blog platform, and another 80 million on Facebook. About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia.
    2019-11-05
  • In the buzzing world of startups, only focused and down-to-earth problem solvers could survive the stiff competition and attract venture capital to help them get off the ground, a China Daily Asia Leadership Roundtable forum heard on Tuesday. Getting money for startups could be a daunting task years ago, especially in Hong Kong, because traditional VC firms were more interested in putting money into startups in the relatively late stages of their lifecycle in exchange for more secure returns, said Vincent Law, founder and managing director of Spark Ventures. “In the past few years, however, the local startup scene has changed a lot as more and more new investors are joining the game, be it local VCs, corporate VCs, venture funds set up by family offices or funding schemes launched by the Hong Kong government and world-class incubators like Cyberport,” Law told the a panel discussion themed “Then and Now: The New Formula for Early Stage & Angel Investment”, held as part of the two-day Cyberport Venture Capital Forum in Hong Kong. Billed as Cyberport’s annual premier venture forum and the region’s signature venture conference, the forum kicked off, shedding light on the game-changing world of tech venturing. More importantly, the Guangdong-Hong Kong-Macao Greater Bay Area, a national policy to replicate the success of other city clusters to promote the emergence of a regional powerhouse, spells potentially huge opportunities for Hong Kong startups with the foresight to jump on the bandwagon, Law said. The grand plan, which reinforces the theme of regional cooperation and integration, highlights a broader market to bolster the broader vision of startups in Hong Kong, he said. “If local startups heading north for greener pastures could expand their businesses across the region, it’s a perfect stepping stone for them to go global and get more funds.” In the second quarter of 2019, VC-backed companies raised $52.7 billion with 3,855 deals, according to data from KPMG. The role that venture capital has played in the startup scene can never be underestimated. “Startup is really about solving problems,” said Theodore Ma, managing partner at CoCoon Ignite Ventures. “From a VC’s point of view, we’re investing companies to essentially give them more runway. Investment money isn’t the money that you make. Instead, you should get money from customers and customers are only willing to pay if they understand you are actually solving the problems.” Ma said this points to a shift of focus among the investment community. Previously, VCs just looked at hundreds of companies and picked one with the most impressive statistics. “Today, we’re actively going out there to find those companies that know exactly what they are trying to solve,” Ma noted. “Those companies are not just out there raising money like anyone else, because they’ve got valuation. They are raising money because they truly understand specific industry-related problems and know how much one may need to become profitable.” Anthony Woo, vice-president of product strategy of Digital Transaction Ltd, agreed. He believed the overall investment community is shifting from an overly excessive focus on matrix and statistics. “The general overall mentality is changing today in the sense that plenty of investors are doing soul searching and reflection to deeply understand what they’re investing in,” he said. As the next big things like big data, artificial intelligence and 5G stand as the highly sought-after investment themes on everyone’s lip, investors nowadays have a lot of homework to do to deeply understand what they are investing in, he said. “Looking for the network, showing your ideas and working with other people — this is the winning formula I can offer for entrepreneurs,” said John Ason, professional angel investor of Kewpie Associates. “We’re obsessed with failure and we’re obsessed with success. But both of them are just a snapshot in journey. There are companies out there that have failed multiple times. There’re also companies that were runaway successes but have disappeared nowadays,” said Ma. “More focus should be put on the journey, rather than the snapshots,” he stressed.
    2019-11-05
  • The Cyberport Venture Capital Forum — one of the landmark tech investment events in Hong Kong’s iconic technology park — has further fueled corporate venture funding, with up to HK$360 million in funds secured for its startups. The forum unveiled a series of outstanding achievements of the Cyberport Investors Network (CIN) — its flagship fundraising project for tech startups. The accomplishments included a total of HK$360 million ($46 million) of funds raised — a huge amount of incoming incentives for Cyberport’s startups. Titled “New Frontier of Tech Venturing”, the first day of the event was packed with a plethora of illuminating keynotes and panel discussions and uncovered the latest trends in the tech venture capital market. Nicholas Yang Wei-hsiung, secretary for innovation and technology of the Hong Kong SAR; George Lam, chairman of Cyberport; Peter Yan, CEO of Cyberport; Duncan Chiu, chairman of Steering Group of the CIN; and new Chairperson Cindy Chow were among those who officiated the forum’s opening ceremony on Tuesday. Lam expressed confidence in Hong Kong’s venture capital market, believing that the rapid development of technology and digital transformation in Asia have not slowed down despite the impact brought on by the macro environment. He said the Cyberport Macro Fund has invested HK$106 million in 14 startups so far, and has brought nearly HK$500 million in co-investments since its launch, bringing total investments in startups to more than HK$600 million, exemplifying the strength and potential of local startups. “Facing the challenges ahead, I believe Hong Kong’s development in innovation and technology will continue to march forward while seizing new opportunities arising from the Bay Area,” Lam said. Lam’s remarks echoed those of Chiu, who said: “Beyond the heartening progress we’ve made in investments, this year, we’ve been successful in bringing in more investors from the Bay Area. We believe this will stimulate deal flow and help our local startups tapping into the Bay Area market, while promoting synergy and development within the region’s technology ecosystem.” One of the forum’s focuses is on corporate venture, and an impressive lineup, including representatives from C capital, CLP Holdings, PM Equity Partner and China Resources Capital, was assembled to impart insight on their partnerships with private and institutional investors to create value for their own businesses. The two-day event featured more than 40 leading industry leaders, investors and tech startups, as well as rising stars from the Cyberport community.
    2019-11-05
SPEAKERS
VIDEO
Sponsors & Partners