Cyberport 200 million venture capital funded by over 100 companies
In 2016, the Cyberport allocated $200 million to set up an investment venture fund. The Chairman of the Cyberport, Mr Lam Kai-yee, said that the fund has been officially launched in recent months. It has invested in three companies, including the professional advisory platform Lynk and the artificial intelligence chat robot TravelFlan. And the education service platform Snapask. He said that there are already 100 companies interested in applying, and they will continue to invest in more companies in the future. They are confident that after investing 200 million yuan in funds, they will be able to win more.
Invested 3 to create up to 20 million each
Lin Jiali said that venture capital investment with professional investors can not only reduce risks, but also professional investors have experience, know how to value and due diligence, and make requirements for start-ups to help companies grow. The amount of each investment is up to 20 million yuan. He hopes to invest more companies as much as possible. The startups can get investment in the venture capital fund, which can increase market confidence and the effect is greater than the actual amount of investment.
As for how the fund will replenish funds in the future, Lin Jiali said that the preferred one will use the internal resources of the Cyberport. As long as the fund is properly invested, the fund will be sold or listed for recovery in the future. The fund can continue to operate. In addition to self-investment, Cyberport has also established an investor network. It has contacted about 100 technology funds and investors from all over the world to assist in the development of start-up companies.
In this year’s Budget, the Government has allocated $300 million to the Cyberport, of which $100 million is used for the development of e-sports. The initial plan is to use half of the funds to convert the shopping arcade into an eSports venue. It covers an area of about 4,000 square feet and can accommodate at least 500 people. The audience is expected to carry out the first phase of renovation at the end of this year. Lin Jiali hopes to introduce digital technology and entertainment into the Cyberport shopping mall, which will enhance the popularity of the Cyberport and even become a tourist attraction. It can also help Hong Kong upgrade its digital technology and promote e-sports into a new industry.