Hong Kong Investment Corporation Limited issues invitation for proposals regarding asset managers of the 2026 Capital Batch of the Investment Portfolio under the New Capital Investment Entrant Scheme (October 2026)

(Hong Kong, 12 October) The Hong Kong Investment Corporation Limited (“HKIC”) today announces the operational details and issues an invitation for proposals (“IFP”) regarding asset managers for the 2026 batch of capital (“2026 Capital Batch”) of the Investment Portfolio (“CIES IP”) under the New Capital Investment Entrant Scheme (“New CIES”).

According to the requirement of the Government of the Hong Kong Special Administrative Region, an eligible applicant under the New CIES must make investment of a minimum of HK$30 million in the permissible investment, including placing HK$3 million into the CIES IP.

To recap, a total of 14 asset managers were selected and appointed after the relevant IFP processes for the 2024 and 2025 batches of capital of the CIES IP (“2024 and 2025 Capital Batches”), which included the capital of the New CIES applications received by 31 December 2024 and between 1 January 2025 and 31 December 2025 respectively, that were approved by the relevant authorities during the applicable periods. Investment of the 2024 and 2025 Capital Batches has started with good progress, and in alignment with the objectives of the CIES IP to support the long-term development of Hong Kong’s economy, competitiveness and society. On this basis and in line with the direction of the Chief Executive’s Policy Address, the HKIC handles the setting up and oversight of the 2026 Capital Batch. With the ongoing progress of case approvals and gradual availability of capital, the 2026 Capital Batch is expected to start investment in the first quarter of 2027.

In line with its function to support the long-term development of Hong Kong’s economy, competitiveness and society, the CIES IP will continue to join hands with multi-disciplinary stakeholders. On the basis of the direction of the Chief Executive’s Policy Address and The First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030), the CIES IP will place emphasis on nurturing home-grown or Hong Kong-based asset managers with commercial and strategic potential, furthering the financial-cum-innovation and technology (“I&T”) ecosystem and strengthening support for start-ups, with a view to transforming traditional industries, supporting emerging industries and grooming future industries for Hong Kong.

The operational arrangements for the 2026 Capital Batch are as follows:

Capital Allocation: The 2026 Capital Batch includes the capital of the New CIES applications received between 1 January 2026 and 31 December 2026 and approved by the relevant authorities during the applicable period. Total size of the 2026 Capital Batch will be at least HK$4 billion. Investment of the 2026 Capital Batch is expected to start in the first quarter of 2027.
Investment Mechanism: The HKIC will select at least ten asset managers to invest the 2026 Capital Batch. Priority will be given to qualified asset managers meeting the following criteria:
- Based in Hong Kong, with clear and concrete business expansion plan which demonstrates its long-term commitment to Hong Kong;
- Having (i) the management and decision-making personnel, including but not limited to the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (or personnel in equivalent positions); and (ii) more than half of its employees, residing and based in Hong Kong;
- The asset manager entity and all relevant members of its investment team holding licences from the Securities and Futures Commission for Type 9 regulated activity (asset management);
- Established for at least 2 years;
- Asset under management of no less than HK$200 million;
- With successful experience in raising capital from institutional investors and making investments in the investment area(s) as specified below; and
- Committed to contributing to the long-term development of Hong Kong’s economy, competitiveness and society, including but not limited to ensuring concrete action plans of the asset managers and/or investee companies to achieve the above objective.
Investment Areas: Interested asset managers must propose at least two new applications or new themes that are aligned with the HKSAR Government policies and could bring innovations or advancements to Hong Kong’s economy, competitiveness and society. The aforesaid proposals must align with Hong Kong’s advantages, positioning and needs.
Investment Stage and Type: May cover public market and private investments.
Size and Arrangement of Each Fund: No less than HK$400 million, and will be invested within two years from the mandate’s establishment.
Lock-up Period: Seven years starting from 1 January 2027.
Investment Progress: Asset managers will compile consolidated reports regarding the investment progress on a regular basis to keep investors posted about the operation and performance.

Eligible institutions are welcome to submit proposals based on the above parameters. Relevant details can be accessed by this link. Deadline of submission is 26 October 2026.

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About the HKIC

The HKIC was established in 2022 as the patient capital investment flagship wholly owned by and representing the HKSAR Government. It adopts an “Investment +” approach, seeking reasonable financial return in the medium to long term and at the same time creating and supporting growth impetus with a view to contributing to Hong Kong’s economy and society.

The HKIC currently manages the “Hong Kong Growth Portfolio”, “Greater Bay Area Investment Fund”, “Strategic Tech Fund”, and “Co-Investment Fund”. At this stage, it is focusing on three key sectors, namely Hard and Core Technology, Biotechnology and Health Technology, and New Energy and Green Technology, as well as the relevant applications. Currently, the HKIC has invested in over 200 projects. Every Hong Kong dollar invested by the HKIC has attracted over 8 Hong Kong dollars from long-term market capital for investment.