The commission called for a new round of applications from venture capital funds to become co-investment partners of the fund early this year.
It received 11 applications.
Based on the assessment criteria including the venture capital fund's capability, its investment strategy and performance, its management team's expertise and experience and its local network and resources, as well as the advice of the fund's advisory committee, the commission selected three co-investment partners at the first stage.
They are
The remaining selected partners will be announced later.
The Government set up the fund with an aim of encouraging venture capital investment in local innovation and technology (
The co-investment partners are responsible for recommending suitable investment targets to the Government which will co-invest with them at a ratio of approximately 1:2 in eligible startups.
The fund signed co-investment agreements with six venture capital funds in the third quarter of 2018.
The Government has co-invested with the partners through the fund in 19 local
The business areas of these
.
(C) 2020 M2 COMMUNICATIONS, source