Wednesday, 6 December 2017
Registration and refreshments
Tim Burroughs, Managing Editor, ASIAN VENTURE CAPITAL JOURNAL
Private equity in Taiwan: Learning from other markets
Private equity investors have found plenty of success in Asia. From middle-market investments and buyouts in Japan, Australia and South Korea, to venture funding and growth investing in China and India, the opportunities to create and nurture great companies are ample. Taiwan, with its new regulations allowing more entrants into private equity, a strong sense of entrepreneurship, competitive strengths in technology and a flourishing LP community, has the potential to develop a dynamic ecosystem that will attract investors in the future. An international panel of leaders share how their local markets have developed, the mistakes made and the lessons learnt.
- What are the most important factors influencing private equity success in Asia?
- What role can the government play in nurturing private equity?
- Where are the most attractive opportunities in Asia, and how can Taiwan participate?
- How does Asian private equity compare with its peers in other markets?
Moderated by: Sonia Sun, Partner, KPMG LAW FIRM
James Ieong, Chairman and Managing Partner, PAGODA INVESTMENT
Hamilton Tang, Managing Director, CDIB CAPITAL INTERNATIONAL CORP
Emmett Thomas, Non-Executive Director, ADVANTAGE PARTNERS
Jim Tsao, Chairman and Head of China, PERMIRA ADVISERS (CHINA) LIMITED
Uncovering emerging PE opportunities in Taiwan
The private equity market in Taiwan is experiencing a period of change. The government has established a number of initiatives - including setting up a national investment company and allowing securities investment trusts and asset management firms to operate private equity funds - as a way of encouraging private investment in the local economy and boosting local asset under management. These initiatives are expected to fuel new investment opportunities, as well as create a more stable private equity market. Our panel will discuss:
- How will the new regulations affect the private equity ecosystem in Taiwan? What are the expectations of private equity investors on the government?
- What are the new drivers? Where are the new opportunities?
- What competitive edges do new fund managers possess, and what challenges do they face?
- How can foreign fund managers gain access so the domestic industry can utilise their expertise and experience?
Moderated by: Vincent Chang, Head of Private Equity, KPMG IN TAIWAN; Partner, KPMG DEAL ADVISORY LIMITED
Philip Hu, Chairman, FUBON ASSET MANAGEMENT CO. LTD.
Wei Liu, Executive Director of Insurance Business Strategy, Taiwan, J.P. MORGAN ASSET MANAGEMENT (TAIWAN) LTD
Mike Shang, Managing Director, Greater China, RIVENDELL PARTNERS
Kok Leong Toh, Assistant Vice President, Private Infrastructure Asia, PARTNERS GROUP
Luncheon remarks: Lionel de Saint-Exupéry, Chief Executive Officer and Member of the Standing Committee of the Board, CDIB CAPITAL GROUP
Fireside chat: Driving Taiwan's digital transformation - How internet and mobile technology can accelerate Taiwan's economic growth
Interviewer: Tim Burroughs, Managing Editor, ASIAN VENTURE CAPITAL JOURNAL
Interviewee: Nick Nash, Group President, SEA
Can private equity be a catalyst for industry consolidation in Taiwan?
Taiwanese M&A experienced a robust 2016 with deal values reaching a record-breaking US$13 billion mostly spurred by technology consolidation. 2017 has seen a cooling off of this buying frenzy, however, Taiwanese conglomerates are instead attempting to make more notable/sizeable acquisitions outside of their home markets to grow and stay ahead of their competitors. Further consolidation of the semiconductor industry and the need for technological advancements in traditional industries will continue to drive deal flow. Our panel of senior dealmakers discuss:
- Where and which sectors present the most attractive M&A opportunities?
- How are consolidations and restructurings playing a role in the market?
- How can PE add value to strategic investors in M&A and what are the successful examples of PE and corporate partnerships?
- What is the outlook for 2018 and beyond?
Moderated by: CY Huang, President, FCC PARTNERS; Founding Chairman, TAIWAN MERGERS & ACQUISITIONS AND PRIVATE EQUITY COUNCIL
Vincent Chan, Senior Managing Director and Head of Asia, SAMENA CAPITAL HONG KONG LIMITED
Alex Chen, Chairman, ROO HSING COMPANY LIMITED
Lawrence S. Liu, Chairman, CDIB VENTURE CAPITAL
Fred Yang, Chairman, SHAREHOPE MEDICINE
Revitalising Taiwan: Fostering a culture of innovation to drive the economy
The Internet of Things, artificial intelligence, machine learning, autonomous vehicles and virtual reality are revolutionising business as well as people's lives. Governments, corporates, and private market investors across the globe are betting on disruptive innovations to deliver the next wave of ground breaking technologies. Venture capital has been a key driver that contributed to Taiwan's place as one of the regional tech hubs, and the domestic players have the potential to take advantage of the next tech revolution. Our panel of entrepreneurs and tech investors will discuss:
- What fundamental technology shifts in the next ten years will have the biggest impact on investment theses and portfolio returns?
- How can investors and their portfolios best take advantage of new and disruptive technologies?
- What innovations can revolutionise traditional industries? Which sectors present the greatest risks and rewards in Taiwan?
- How can VCs revitalise innovation in Taiwan?
Moderated by: Aaron Yuan, Executive Director, LGT CAPITAL PARTNERS
Joseph Chan, Partner, APPWORKS
Ryan Kuo, President, CDIB CAPITAL INNOVATION ADVISORS/ CDIB CAPITAL INNOVATION ACCELERATOR FUND
Jack Lee, Founding Managing Partner, HCM CAPITAL, FOXCONN TECHNOLOGY GROUP
Steven Lee, Managing Director, H&Q ASIA PACIFIC
Networking coffee break
Cheng-Mount Cheng, Vice Chairman, FINANCIAL SUPERVISORY COMMISSION, TAIWAN
Where, why, and how should LPs invest in private markets in 2018?
Taiwanese LPs and their international counterparts continue to increase their allocations into alternatives in search of yield. As experienced Taiwanese LPs become more sophisticated, they look to review their investment strategy and rebalance their global portfolios where necessary. The newer LPs, the national investment company and high-net-worth individuals in particular, present a new source of funding for local GPs, as they first seek to commit capital to the local players. Our panel of local and global LPs share their views on private markets and discuss what strategies to employ, as well as how to build a balanced portfolio in the current investment climate. Our panel will discuss:
- Which asset classes, markets, and sectors will deliver the best returns in the next five years?
- How do you measure your allocations to PE, infrastructure, credit/debt, and secondaries to create a balanced portfolio?
- Why are allocations to private debt on the rise in Taiwan and the rest of Asia?
- How do LPs view Taiwan as an investment destination and the ability of the domestic GP market?
Moderated by: Andy Tsai, Partner, STEPSTONE GROUP
Dominic Goh, Vice President, HARBOURVEST PARTNERS ASIA LTD.
Lye Thiam Koh, Senior Portfolio Manager, NATIONAL UNIVERSITY OF SINGAPORE
Nicholas Ng, Managing Director, Private Equity, CHINA PING AN INSURANCE OVERSEAS (HOLDINGS) LIMITED
Myron Zhu, Co-Head of Private Equity Asia Pacific, ABERDEEN STANDARD INVESTMENTS