7th Annual Private Equity & Venture Forum

Singapore 2017
19-20 July Westin Singapore

GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY avcjsingapore.com

Southeast Asia: The next chapter in

the Asia growth story
After China and India, Southeast Asia is poised to become the next battleground for private
equity and venture investors, as global players are looking to expand into the region. The
investment thesis is brimming with potential but in practice market fragmentation and political
instabilities have made barriers to entry problematic and minimised deal opportunity.
However, deal activity is increasing and investor appetite for exposure to Southeast Asia is on
the rise. Strategically, companies in the region offer a number of opportunities serving the local
market and as an exporter of goods in demand across the region.
The 7th annual AVCJ Singapore Forum will provide an unrivalled in-depth analysis and debate
on the latest trends, challenges and opportunities for private markets investors attracted
to Southeast Asia, as the next destination in their quest for diversifying their portfolios and
delivering alpha.

2016 Forum key statistics:

295+ 50 130+ 17 12 165

Participants Speakers Limited Countries Exclusive Panel Companies
Partners Represented Discussions Represented

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 Sponsors
Asia Series Sponsor

Co-Sponsors

Legal Sponsor

VC Legal Sponsor

Supporting Organisations

Media Partners

SPONSORSHIP Sponsorship enquiries:

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 Programme highlights 2017
Network with over 130 institutional investorsthat are looking to meet fund
managers from across the globe and make commitments to the asset class

Discover theforces shaping private equityand what is the outlook for

2017/2018

Find out what is driving cross-border deals and which sectors are most active
Understand howcorporate venture is changing the ecosystem
Hear how family offices are increasing their exposure to private market
investments

Breakdown of 2016 Forum:

BY TYPE OF COMPANY

LPs GPs BY COUNTRY

PE/VC Europe & USA Others - Asia

Limited General 3% 3%
Partners Partners
China Hong Kong
44% 25% 3% 12%
India Japan &
BY TITLE 2% South Korea,
Managing Director / 3%
30% Partner / CIO / CFO
Principal / VP/
Singapore & Philippines 4%
35% Associate Malaysia
Director / GM / Chief 68%
24% Representative
Indonesia
Chairman / CEO /
10% Managing Partner 2%
Other
1% (Associations, etc.)

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 Speakers For the latest confirmed speakers visit:
avcjsingapore.com

Keynote
Ming Maa
Group President
GRAB

Senior Industry Professionals

Damian Adams Gaurav Ahuja

Partner Managing Director
SIMMONS & SIMMONS CHRYSCAPITAL

Kimihiro Fukuyama Melissa Kang

Deputy Director General, Growth & Cross Executive Director
Border Investment Department MORGAN STANLEY ALTERNATIVE
DEVELOPMENT BANK OF JAPAN INVESTMENT PARTNERS

Ralph Keitel Sebastien Lamy

Regional Lead East Asia, Private Equity Funds Partner
INTERNATIONAL FINANCE CORPORATION BAIN & CO

James Lu Sunil Mishra

Partner Partner
COOLEY LLP ADAMS STREET PARTNERS

Will Ongkowidjaja Talenia Phua Gajardo

Co-Founder & Managing Partner CEO & Founder
ALPHA JWC VENTURES THEARTLING.COM & LUXGLOVE.COM

Kyle Shaw Andrew Thompson

Founder and Managing Partner Head of Private Equity Asia Pacific
SHAWKWEI & PARTNERS KPMG

Matthew Turner Rebekah Woo CFA, CAIA

Head of Australia & New Zealand Senior Senior Director, Growth Markets Asia
Debt CDPQ ASIA PACIFIC PTE LTD
ICG

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 Programme
Day 1: Wednesday, 19 July 2017
7:45 LP Registration and refreshments be challenging to buy local businesses and achieve
widespread growth. A panel of savvy investors will share
8:15 INVITATION how they navigate the investment landscape and build
Limited partners session ONLY businesses that have captured a widespread market.
The session will provide participants with the unrivalled What impact will the global macro and political
opportunity to hear first-hand about PE investing from headwinds have on investment?
their peers, many of whom have decades of experience What businesses are delivering growth in Southeast Asia?
in investing in global markets and working with GPs, in a How can you navigate the restrictions in foreign
confidential setting. The session will feature presentations ownership across the region?
by senior industry professionals, followed by a moderated How do you expand into other markets?
What are the return expectations from investors? Do you
roundtable discussion on topics of interest to the LP need to provide a premium to attract LPs?
community, including the following:
What strategies, sectors and geographies are the 12:45 Data presentation: Bain & Co
leading LPs betting on over the next five years?
How do you effectively run a co-investment programme? 13:15 Networking lunch
What role do gatekeepers and advisors play for LPs in
2017? 14:15 Southeast Asia vantage point: The next consumer
How do you source the emerging GPs with niche battleground
offerings and strong local networks? Southeast Asia seems to be next battleground for
Can you build a direct team in-house and attract and consumer-focused start-ups vying for dominance. The
retain skilled investment managers? likes of Uber, Grab, Alibaba, Softbank, Tencent and others
have their eyes on the region as a natural expansion to
9:00 Main conference registration and networking the established markets of China and India. In addition,
both online and offline consumer brands within the
9:15 Keynote Address region need to become or stay relevant in an increasingly
competitive environment, thus providing an opportunity for
9:45 Private equity 2017: Global trends, risks and rewards private equity and venture capital funds with an attractive
proposition for investment. Covering e-commerce, logistics,
2016 was a year of challenges for private equity from a lifestyle, tourism and offline retail, our esteemed panel will
macro perspectiveBrexit, the US presidential election discuss the following topics:
all creating a new norm of global volatility. Yet market What is the current investment environment?
uncertainty creates opportunity for savvy GPs with How do you scale consumer-focused technology-driven
differentiated strategies and creative approaches to companies in the region?
outperform in unstable markets. Global and regional What technologies are likely to disrupt the marketplace in
leaders share insights into current market challenges and the coming years?
near-term prospects for the asset class. How do you achieve exits given the state of the capital
How are macro trends impacting private equity markets in Southeast Asia?
worldwide and in Asia? How do you find talent in the various markets?
What are expectations for PE funds, especially the bigger
pan-Asia funds? 15:00 Healthcare in the spotlight
What differentiates those GPs who can meet the challenge? The popularity of healthcare assets among private
Where are the next investment opportunities? equity investors across Asia shows no sign of waning; the
How is the exit market in Asia evolving? combination of rising demand for quality products and
services in emerging markets and low levels of supply make
10:45 M&A and cross-border activity: Southeast Asia roadmap sure of that. Southeast Asia is no exception, and a few
Cross-border deals, both inbound and outbound, continue significant deals by the major players are increasing focus
to be on the rise. Local companies finding success on the sector. Our panel will offer insights into navigating
domestically are looking for growth opportunities in the the healthcare space and how GPs can differentiate
region as they look to expand internationally and spread themselves in terms of strategy and value creation.
their business risk across a number of geographies What is the state of play in the healthcare sector in
and economies. On the flip side, inbound investors are Southeast Asia, in terms of demand versus supply?
attracted by the solid macro and consumer landscape What lessons can be learned from investments in the
and opportunity to utilise their expertise and connections sector across Asia?
to propel local businesses into bigger and better entities. A How do GPs get comfortable with often asset-heavy
panel of experts will discuss the following topics and how healthcare services?
What impact is technology having on healthcare
the region can prosper:
business models?
What is the current level of M&A activity, and from where
are most transactions originating?
What are the dynamics in the marketplace, and what is 15:45 Networking coffee break
driving cross-border deals?
How can private equity play a role as a partner to 16:15 Alternative lending: Latest fad or here to stay?
strategic investors? With financial technology on the rise, private investors and
What are successful examples of companies expanding financial institutions alike are keen to explore the opportunity
in the region? and understand its scope. VCs see a big opportunity, and
Which overseas markets are most attractive for outward banks need to keep an edge over non-traditional players
M&A, and why? looking to disrupt. All across the region the industry is growing
rapidly, and given the significant unbanked population in
many Asian countries, the growth trends seems to be on
11:30 Networking coffee break par as the innovation in technology enabling the change.
Singapore appears to be taking the lead in becoming
12:00 Private equity in Southeast Asia: Finding market scalability a regional/global hub with multiple financial institutions,
Private equity in Southeast Asia provides a conundrum for accelerators and venture firms establishing fintech centres
investors. Political uncertainties and governance issues and attracting talent and investment.
seem to always be apparent to some degree, but for PE the What is the current landscape for fintech?
greater issue is being able to find the right partners, deals Is collaboration among the stakeholders a key to
and sectors that will deliver returns. The main challenge developing a sustainable ecosystem?
in the region that has held back investors in recent years What are the regulatory challenges for fintech across the
is scalability. Despite the macro story, a complex and region?
divergent set of investment opportunities with different laws, How is the evolution of payments improving the fight for
regulations and challenges in each market mean it can social inclusion?

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Please note the programme is subject to change.
 Programme
16:30 Family office: The new force in private markets 11:00 Executive address: Exits, where, when and how are
Family offices and HNWIs have long been touted as a new they being executed?
source of capital for private equity firms, particularly given The exit story is still inconsistent in Southeast Asia, especially
the strong wealth creation within Asia. However, no family from an IPO perspective. As a result, policymakers are now
office is the same. While many are eschewing blind pool pushing to create a more attractive and consistent exit
risk in favour of co-investment alongside GPs, others are environment, especially at the growth end of the market.
inherently more conservative in building their exposure Trade sales are the preferred method, and attracting
to the asset class. As family offices in Asia mature, the strategic buyers is the optimal route. On the VC side, the
challenge for private equity is not only reaching out to exchanges are trying to attract tech companies to list
these groups but also finding mutually attractive ways of locally, and secondaries are helping GPs source exits,
working them. Our expert panel offers some pointers. find capital and help companies in an emerging region
How have family offices private equity strategies evolved? continue to grow.
What sectors are attractive to family offices? What is the state of capital markets across the region?
How do you build relationships with the key decision How does capital markets environment compare with
makers? global peers?
What is the best way to structure co-investment How can investors find an optimal exit route, given the
opportunities? limited IPOs?
What is the LP view on exits and does it weigh negatively
17:15 Close of day 1 and networking cocktail on the region?
What have the best performing done to consistently
source exit routes and when does this process start?

11:30 Women in private markets: The diversity gap

Day 2: Thursday, 20 July 2017 In the private equity, venture capital and start-up
ecosystem as well as the broader corporate world, women
8:30 Registration and refreshments are underrepresented and the gender gap is significant.
This might be due to the nature of the work or the industry
9:00 Corporate VC: Striking a balance culture or more likely a combination of both and other
Corporations in Asia increasingly see the merits of factors; however, the industry is gradually evolving into
captive VC units, but they must be clear in their financial an environment that is friendlier towards working women.
and strategic objectives in order to give teams the The esteemed panel will discuss the current environment,
right combination of autonomy and guidance. Recent challenges and opportunities to close the gender gap in
establishment of venture arms by various corporations the industry.
in China and across the continent are catching up with What is the current landscape for women in the industry?
global peers who established their venture arms a long How does diversity help to deliver better performance?
time ago. While the approaches vary from clear direction What unique skills can women bring to the table?
for strategic investments to wholly independent mandates, Are we seeing an evolution of women founders? Do
the intention is to capitalise on the consumer growth in these make good acquisition targets?
Southeast Asia through a financial return and/or to obtain How should firms nurture career progression to a senior
a deeper understanding of new markets and technologies. level and how can you attract and retain top talent?
What are the current trends in corporate venturing and What should the industry be doing to attract more
how do they fit in the ecosystem? women at the start of their career paths?
How are Chinese companies expanding into Southeast How board diversity improves governance?
Asia changing the VC landscape?
Is Singapore becoming a global hub for corporate 12:15 Finally on the map: Southeast Asia LP allocation
innovation and venture? For many institutional investors, Southeast Asia remains
What do entrepreneurs need to know when choosing a niche market: too small or too risky for a dedicated
between corporate and traditional venture capital allocation. Deal flow is driven by large, usually intermediate
partnerships? transactions that are contested between the flagship Asia
What partnerships have corporates formed with VC firms funds. However, Southeast Asia is becoming more attractive
and how do these work in practice? because of the growth of experience in the market, the
establishment of a stable of talented managers in recent
9:45 Private debt: The view from Asia years and the trend for LPs looking for niche managers
While Asian private debt is seen as an increasingly that are local experts who can outperform the market. In
attractive option for fund managers, attracting LP interest this session a group of international LPs will debate this
and commitment is a much tougher proposition. Yet as compelling market, the case for committing their capital,
the LPs need to diversify their allocations and mitigate risk and where they place the region on the risk and reward
across the asset classes and GPs are launching funds on scale.
their own, the sector is on an upward trajectory. Our panel What are the current macro, political and regulatory
offers insights into the evolving credit market across Asia: challenges in the region?
How do regulatory regimes impact deal structuring? How can investors navigate the fragmented markets in
Can private debt players achieve scale across multiple the region?
markets? How do LPs view Southeast Asia compared with the rest
How do investors overcome restrictions on local currency of the world?
lending? What is the best approach for allocation of funds, and
How should an LP manage allocations to the multi- can we expect any allocation changes?
segmented private debt sector? Is Southeast Asia only viable when viewed as one
investment destination, or do LPs investigate specific
10:30 Networking coffee break countries in the region?

13:00 Networking lunch and close of conference

Fo r t h e l a te s t p ro g ra m m e v i s i t :
av c j s i n g a p o re. c o m

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Please note the programme is subject to change.
 7th Annual Private Equity & Venture Forum

Singapore 2017
GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY
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210417