Venture capital managers ask Hong Kong government to speed up vetting process for US$257 million tech…

Venture capital managers have called upon the Hong Kong government to speed up its vetting process for a HK$2 billion (US$257 million) technology co-investment fund amid concerns that entrepreneurs could be discouraged from using the fund if they cannot access life-saving capital in time. The Innovation and Technology Venture Fund (ITVF) is part of government efforts aimed at stimulating private investment in local innovation and technology start-ups. It was launched by the Innovation and Technology Commission in July 2018 after the commission selected five venture capital funds as co-investment partners for the scheme. Each co-investment manager must invest twice as…