Innovation and Technology Venture Fund (ITVF)

The Government has set up a HK$2 billion Innovation and Technology Venture Fund (ITVF) in 2017 with a view to attracting more venture capital (VC) funds to co-invest in local innovation and technology (I&T) start-ups in Hong Kong.

Key Features:
- Co-investment scheme targeted at eligible local I&T start-ups.
- Matching investment ratio of approximately 1 (ITVF) : 2 (Co-investment Partner (CP)).
- The Innovation and Technology Venture Fund Corporation's (ITVFC) matching investment ceiling:
1) Aggregate amount of matching investments with a CP not more than HK$400 million;
2) Aggregate amount of investments in an investee company not more than HK$50 million; and
3) For each co-investment in an investee company, the matching investment shall constitute not more than (i) 40% of the original total target investment amount sought by the investee company, or (ii) HK$30 million, whichever is the lower.