Innovation and Technology Venture Fund: Co-Investment for Hong Kong I&T Startups

What is the Innovation and Technology Venture Fund?

The Innovation and Technology Venture Fund (ITVF) was established by the Hong Kong Government in 2017 with a capital commitment of HK$2 billion. Its purpose is to attract more venture capital funds to co-invest in local innovation and technology (I&T) startups in Hong Kong.

How does the ITVF operate?

The ITVF operates through a special-purpose vehicle called The Innovation and Technology Venture Fund Corporation (ITVFC). It co-invests with venture capital funds that have been selected as Co-investment Partners (CPs) in eligible local I&T startups, which are referred to as investee companies. The ITVF acts as a passive investor, making direct co-investments in eligible local I&T startups only upon invitation by the Co-investment Partners.

Common questions about the ITVF

What is the role of the ITVF in co-investments?

The ITVF is a passive investor. It makes direct co-investments in eligible local I&T startups together with the Co-investment Partners, but only when invited to do so by those partners.

Who can co-invest with the ITVF?

Venture capital funds selected as Co-investment Partners by the ITVF can co-invest with the fund. These partners work with the ITVFC to invest in eligible local I&T startups.

When was the ITVF established and how much capital does it have?

The Government set up the ITVF in 2017 with a total of HK$2 billion.