Cyberport Fuels Growth of Local Digital Entrepreneurs with Cyberport Macro Fund – Empowers local start-ups to leap on global ambition with an initial fund size of HK$ 200 million
Hong Kong –2 August 2016 –To strengthen support for local start-ups, Hong Kong Cyberport Management Company Limited (Cyberport) today announced that the new Cyberport Macro Fund (CMF) for Hong Kong-based digital entrepreneurs is open for applications. With an initial size of HK$ 200 million, the CMF aims to accelerate the growth of digital technology start-ups so that they can scale up and become the next generation of technology entrepreneurial leaders.
As an unprecedented initiative to further extend Cyberport’s one-stop entrepreneurial support to scalable start-ups, the CMF is open for applications from scalable, Hong Kong-based digital technology companies that are incubatees or graduates of Cyberport’s programmes, Cyberport Smart-Space companies, or Cyberport office tenants.
“Cyberport is excited to be the facilitator to transform the potential of Hong Kong’s digital entrepreneurs into actions and accelerate their growth in various stages of their development,” said Mr Herman Lam, CEO of Cyberport. “Through the Cyberport Macro Fund, Cyberport looks forward to connecting investors with aspiring start-ups and opening up more funding opportunities for entrepreneurs to go after their ambition.”
As an investment fund that targets to co-invest in digital entrepreneurs with other private and public investors as seed to Series A stage funding, the CMF also aims to encourage the development of a venture capital ecosystem for start-ups in Hong Kong. Co-investors can be identified either by CMF applicants or together with Cyberport.
The accumulative investment per investee is set to be between HK$1M to HK$20M. The Macro Fund Investment Committee, comprised of financial and technology experts in the region, will conduct detailed screening on each application. Investment decisions will be made based on three major judging criteria, which are thorough assessment on applicants’ businesses including, but not limited to, compliance, governance, financial position and business viability, potential return on investment in the business and applicants’ proven involvement in the Cyberport Community.
Details of the Cyberport Macro Fund (CMF) can be found here: http://www.cyberport.hk/en/about_cyberport/cyberport_macro_fund
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Cyberport is a creative digital cluster with over 700 community members. It is managed by Hong Kong Cyberport Management Company Limited which is wholly owned by the Hong Kong SAR Government. With a vision to build a legacy of entrepreneurial excellence that establishes Cyberport as a leading global innovation and technology hub, Cyberport is committed to facilitating the local economy by nurturing digital industry start-ups and entrepreneurs, driving collaboration to pool resources and create business opportunities, and accelerating digital adoption through strategic initiatives and partnerships. Equipped with an array of state-of-the-art tech facilities and a cutting-edge broadband network, the Cyberport community is home to four grade-A intelligent office buildings, a five-star design hotel, and a retail entertainment complex.
For more information, please visit www.cyberport.hk or follow us on Twitter @cyberport_hk.
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