7th Annual Private Equity & Venture Forum …...2016 Forum key statistics: Singapore 2017 7th Annual...

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GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY avcjsingapore.com

Southeast Asia: The nextchapter in the Asia growth storyAfter 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:

Singapore 2017 7th Annual Private Equity & Venture Forum

19-20 July • Westin Singapore

295+Participants

17CountriesRepresented

50Speakers

12Exclusive PanelDiscussions

130+Limited Partners

165CompaniesRepresented

Ming MaaGroup PresidentGRAB

Keynote

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ONLINE: avcjsingapore.com EMAIL: [email protected] PHONE: +852 2158 9636REGISTER

NOW!

R e g i s t e r o n l i n e a t : a v c j s i n g a p o r e . c o m

Sponsors

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Co-Sponsors

Legal Sponsor VC Legal Sponsor

Asia Series Sponsor

Exhibitors

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Programme highlights 2017

Breakdown of 2016 Forum:

Network with over 130 institutional investors that are looking to meet fund managers from across the globe and make commitments to the asset class

Discover the forces shaping private equity and what is the outlook for 2017/2018

Find out what is driving cross-border deals and which sectors are most active

Understand how corporate venture is changing the ecosystem

Hear how family offices are increasing their exposure to private market investments

BY COUNTRY

Singapore & Malaysia

68%

Others - Asia3%

India2%

China3%

Indonesia2%

Europe & USA3%

Hong Kong12%

Japan & South Korea,3%

Philippines 4%

Media PartnersCommunications Partner

BY TITLE

Chairman / CEO / Managing Partner

Other (Associations, etc.)

Principal / VP/ Associate

Managing Director / Partner / CIO / CFO

Director / GM / Chief Representative

30%

35%

24%

10%

1%

BY TYPE OF COMPANY

LPs GPs

PE/VC General Partners25%

Limited Partners

44%

R e g i s t e r b y e - m a i l : b o o k @ a v c j . c o m

Supporting Organisations

Partners & Supporting Organisations

Speakers

R e g i s t e r b y p h o n e : + 8 5 2 2 1 5 8 9 6 3 6

Keynote

Limited Partners

Ming Maa Group President GRAB

For the latest confirmed speakers visit: avcjsingapore.com

Doug A. Coulter Partner LGT CAPITAL PARTNERS

Sandiren Curthan Director - Infrastructure

Investments PSP INVESTMENTS

Jacob Chiu Managing Director HQ CAPITAL

Mira Christanto Senior Portfolio Manager APG ASSET

MANAGEMENT ASIA

Kimihiro Fukuyama Deputy Director General,

Growth & Cross Border Investment Department

DEVELOPMENT BANK OF JAPAN

Sunil Mishra Partner ADAMS STREET

PARTNERS

Mathieu Perfetti Head of Private Equity Asia CA INDOSUEZ

Catherine Shiang Managing Director ASIA CAPITAL ADVISOR

LTD

Irene Koh Executive Director JP MORGAN ASSET

MANAGEMENT

Rebekah Woo CFA, CAIA Senior Director,

Growth Markets Asia CDPQ ASIA PACIFIC

PTE LTD

Melissa Kang Executive Director MORGAN STANLEY

ALTERNATIVE INVESTMENT PARTNERS

Peter Martisek Director BLACKROCK PRIVATE

EQUITY PARTNERS

Ralph Keitel Regional Lead East Asia,

Private Equity Funds INTERNATIONAL FINANCE

CORPORATION

Sam Robinson Managing Partner NORTH-EAST PRIVATE

EQUITY ASIA

Markus Bracht Vice President DEG

Shirley Crystal Chua CEO and

Founding Partner GOLDEN EQUATOR

Speakers

R e g i s t e r o n l i n e a t : a v c j s i n g a p o r e . c o m

Company Founders & Executives

Senior Industry Professionals

Vivek Chhabra Head of M&A FRASER & NEAVE

Meliza Rusli Chief of Corporate

Development & Strategy PT ASTRA

INTERNATIONAL

Ajay Lakotia Executive Director FOSUN KINZON CAPITAL

Sandhya Devanathan Country Head – Singapore FACEBOOK

Sarah Chen Corporate Innovation &

Ventures, Co- Founder ASIA WOMEN CIRCLE

Talenia Phua Gajardo CEO & Founder THEARTLING.COM &

LUXGLOVE.COM

Sae Min Ahn Managing Partner RAKUTEN VENTURES


Damian Adams Partner SIMMONS & SIMMONS

JWS

Amit Anand Founding Partner JUNGLE VENTURES

H. Richard Dallas Senior Managing

Director, Private Equity GULF CAPITAL

Gaurav Ahuja Managing Director CHRYSCAPITAL

Edwin Fua Partner NAVIS

Jim Hildebrandt Managing Director BAIN CAPITAL

Atiff Gill Senior Managing Director CVC CAPITAL PARTNERS

Justin Hall Principal, GOLDEN GATE VENTURES

Fabien Banaletti Deputy General Manager,

Head of M&A and Sponsor Finance Asia

SUMITOMO MITSUI BANKING CORPORATION

Mada Seghete Co-Founder BRANCH

Paul DiGiacomo Managing Director BDA PARTNERS

Enrique Y. Gonzalez President & CEO IP VENTURES GROUP

Kee Lock Chua Group President & CEO VERTEX VENTURE

HOLDINGS LTD

To be continued


Andy Ho Chief Investment Officer VINACAPITAL

T. J. Kono Partner UNISON CAPITAL

Amith Karan Managing Director ALVAREZ AND MARSAL

Speakers


Senior Industry Professionals (cont’d)


Kyle Shaw Founder and

Managing Partner SHAWKWEI & PARTNERS

Patrick Loofbourrow Partner COOLEY LLP

Jack Lee Partner STRAIT CAPITAL

INVESTMENT GROUP

Andrew Thompson Head of Private Equity

Asia Pacific KPMG

Will Ongkowidjaja Co-Founder &

Managing Partner ALPHA JWC VENTURES

Selina Zheng Co-Founder and President DCL INVESTMENTS

Vivian Zheng Partner ADVANTAGE PARTNERS

Dan I. Siazon SVP & Treasurer KICKSTART VENTURES

Kevin Loh Managing Director CREADOR

Delano Musafer Head of Asia-Pacific

Capital Markets NEW YORK STOCK

EXCHANGE

Vinnie Lauria Founding Partner GOLDEN GATE VENTURES

Matthew Turner Head of Australia &

New Zealand Senior Debt ICG

Sebastien Lamy Partner, Singapore BAIN & COMPANY

Javier Saade Managing Director FENWAY SUMMER

Lenny Lim Investment Director NAVIS CAPITAL

PARTNERS

Graham Martin Partner, Head of

Restructuring, Portfolio Solutions Leader, Deals Advisory, KPMG

Timothy Zee Managing Director PAG ASIA CAPITAL

Damian Tan Managing Director VICKERS VENTURE

PARTNERS

7:45 LP Registration and refreshments

8:15 Limited partner roundtable - Investing in private markets

The session will provide participants with the unrivalled opportunity to hear first-hand about alternative investing from their peers, many of whom have decades of experience in investing in global markets and working with funds, in a confidential setting. The session will feature discussion on topics of interest to the private markets community, including the following: What strategies, sectors and geographies are the leading LPs betting on over the next five years?

How do you effectively run a co-investment programme?

What is the appetite for infrastructure investments, given the significant needs across the region?

What role do gatekeepers and advisors play for LPs in 2017?

How do you source the emerging GPs with niche offerings and strong local networks?

Can you build a direct team in-house and attract and retain skilled investment managers?

9:15 Main conference registration and networking

9:30 Private equity 2017: Global trends, risks and rewards2016 was a year of challenges for private equity from a macro perspective—Brexit, the US presidential election—all creating a new norm of global volatility. Yet market uncertainty creates opportunity for savvy GPs with differentiated strategies and creative approaches to outperform in unstable markets. Global and regional leaders share insights into current market challenges and near-term prospects for the asset class. How are macro trends impacting private equity worldwide and in Asia?

What are expectations for PE funds, especially the bigger pan-Asia funds?

What differentiates those GPs who can meet the challenge?

Where are the next investment opportunities? How is the exit market in Asia evolving?

10:30 The view from Asia: The rise of credit and distressed-investing strategiesFunds are increasingly focused on the debt market as they react to banks tightening up on lending and further diversify their product offerings as they evolve to become both providers of credit and value creators for distressed companies. Next to private equity, private debt is expected to deliver the highest returns over the next three to five years. With strong appetite from LPs, PE players are moving to establish offerings and teams to exploit this opportunity.

Programme

R e g i s t e r o n l i n e a t : a v c j s i n g a p o r e . c o mPlease note the programme is subject to change.

Day 1: Wednesday, 19 July 2017

INVITATION ONLY

What macro factors are contributing to the rise of debt-oriented strategies and direct lending specifically?

Where does private debt fit in an LP’s allocation strategy, and are these allocations increasing?

Are distressed-debt and credit opportunities now a significant part of the PE business?

How attractive for GPs are non-performing loans (NPLs), high yield bonds, defaulted bonds, and NPL securitizations?

As global GPs and funds of funds are now establishing debt funds, will the domestic players follow this trend?

11:15 Networking coffee break

11:45 M&A and cross-border activity: Southeast Asia roadmapCross-border deals, both inbound and outbound, continue to be on the rise. Local companies finding success domestically are looking for growth opportunities in the region as they look to expand internationally and spread their business risk across a number of geographies and economies. On the flip side, inbound investors are attracted by the solid macro and consumer landscape and opportunity to utilise their expertise and connections to propel local businesses into bigger and better entities. A panel of experts will discuss the following topics and how the region can prosper: 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 driving cross-border deals?

How can private equity play a role as a partner to strategic investors?

What are successful examples of companies expanding in the region?

Which overseas markets are most attractive for outward M&A, and why?

12:30 View from the frontline of SEA private equityThe Southeast Asian private equity market has fluctuated in the last few years, especially in deal value and count. While the SE Asian market as a whole has experienced cautious growth in deal activity since the depths of the global financial crisis, investors in the region face intensifying competition for deals. A combination of proprietary Bain research on the Southeast Asian and broader Asia-Pacific markets, as well as analysis of direct feedback from a survey of PE investors in the region, will raise topics such as: Where the action is trending to in terms of deal and exit activity by sector, type of deal, type of investor in the region, and why

How data suggests the sources of deal return in the region will have to shift in the coming years

The “voice of PE investors” regarding specific challenges faced in getting deals done in SEA vs. other neighboring markets in Asia-Pacific

Steps GPs can take to differentiate themselves


Programme


For the latest programme vis i t : avcjsingapore.com

Please note the programme is subject to change.

13:00 Networking lunch

14:00 Private equity in Southeast Asia: Finding market scalability Private equity in Southeast Asia provides a conundrum for investors. Political uncertainties and governance issues seem to always be apparent to some degree, but for PE the greater issue is being able to find the right partners, deals and sectors that will deliver returns. The main challenge in the region that has held back investors in recent years is scalability. Despite the macro story, a complex and divergent set of investment opportunities with different laws, regulations and challenges in each market mean it can be challenging to buy local businesses and achieve widespread growth. A panel of savvy investors will share how they navigate the investment landscape and build businesses that have captured a widespread market.

What impact will the global macro and political headwinds have on investment?

What businesses are delivering growth in Southeast Asia?

How can you navigate the restrictions in foreign ownership across the region?

How do you expand into other markets? What are the return expectations from investors? Do you need to provide a premium to attract LPs?

14:45 Southeast Asia vantage point: The next consumer battleground Southeast Asia seems to be next battleground for consumer-focused start-ups vying for dominance. The likes of Uber, Grab, Alibaba, Softbank, Tencent and others have their eyes on the region as a natural expansion to the established markets of China and India. In addition, both online and offline consumer brands within the region need to become or stay relevant in an increasingly competitive environment, thus providing an opportunity for private equity and venture capital funds with an attractive proposition for investment. Covering e-commerce, logistics, lifestyle, tourism and offline retail, our esteemed panel will discuss the following topics:

What is the current investment environment? How do you scale consumer-focused technology-driven companies in the region?

What technologies are likely to disrupt the marketplace in the coming years?

How do you achieve exits given the state of the capital markets in Southeast Asia?

How do you find talent in the various markets?


16:00 Operational value add: Shifting gears to achieve better resultsOperational value add has been the buzz word in private equity for a while. It all starts with due diligence before the deal and continues on till the exit. In theory this is what private equity is supposed to do, but in a complex and fragmented market like Southeast Asia, even a simple due diligence on the business promoters or certain parts of the business can be extremely challenging. In this practical session an expert panel will discuss, disclose and distinguish strategies for PE funds to overcome challenges with investee companies, build value, and improve performance.

How to define a consistent approach to operations improvement? from diligence to 100 day plans

Best fit models for operational excellence. How to find a right balance between in house, network and consultants?

How to achieve financial discipline –balancing cash management and EBITDA growth?

Leadership and governance – secret sauce or finding the right model each time

How to measure operational value add? KPIs and tools

16:45 Family office: The new force in private markets Family offices and HNWIs have long been touted as a new source of capital for private equity firms, particularly given the strong wealth creation within Asia. However, no family office is the same. While many are eschewing blind pool risk in favour of co-investment alongside GPs, others are inherently more conservative in building their exposure to the asset class. As family offices in Asia mature, the challenge for private equity is not only reaching out to these groups but also finding mutually attractive ways of working them. Our expert panel offers some pointers.

How have family offices’ private equity strategies evolved?

What sectors are attractive to family offices? How do you build relationships with the key decision makers?

What is the best way to structure co-investment opportunities?

17:30 Close of conference day 1 and

AVCJ 30th Anniversary Cocktails years

Day 2: Thursday, 20 July 2017

8:30 Registration and refreshments

9:00 Fireside chat

9:45 Corporate VC: Striking a balance Corporations in Asia increasingly see the merits of captive VC units, but they must be clear in their financial and strategic objectives in order to give teams the right combination of autonomy and guidance. Recent establishment of venture arms by various corporations in China and across the continent are catching up with global peers who established their venture arms a long time ago. While the approaches vary from clear direction for strategic investments to wholly independent mandates, the intention is to capitalise on the consumer growth in Southeast Asia through a financial return and/or to obtain a deeper understanding of new markets and technologies.

What are the current trends in corporate venturing and how do they fit in the ecosystem?

How are Chinese companies expanding into Southeast Asia changing the VC landscape?

Is Singapore becoming a global hub for corporate innovation and venture?

What do entrepreneurs need to know when choosing between corporate and traditional venture capital partnerships?

What partnerships have corporates formed with VC firms and how do these work in practice?


11:00 Exits, where, when and how are they being executed? The exit story is still inconsistent in Southeast Asia, especially from an IPO perspective. As a result, policymakers are now pushing to create a more attractive and consistent exit environment, especially at the growth end of the market. Trade sales are the preferred method, and attracting strategic buyers is the optimal route. On the VC side, the exchanges are trying to attract tech companies to list locally, and secondaries are helping GPs source exits, find capital and help companies in an emerging region continue to grow.

What is the state of capital markets across the region? How does capital markets environment compare with global peers?

How can investors find an optimal exit route, given the limited IPOs?

What is the LP view on exits and does it weigh negatively on the region?

What have the best performing done to consistently source exit routes and when does this process start?

11:45 Women in markets: The diversity gap In the private equity, venture capital and start-up ecosystem as well as the broader corporate world, women are underrepresented and the gender gap is significant. This might be due to the nature of the work or the industry culture or more likely a combination of both and other factors; however, the industry is gradually evolving into an environment that is friendlier towards working women. The esteemed panel will discuss the current environment, challenges and opportunities to close the gender gap in the industry. What is the current landscape for women in the industry?

How does diversity help to deliver better performance?

What unique skills can women bring to the table? Are we seeing an evolution of women founders? Do these make good acquisition targets?

How should firms nurture career progression to a senior level and how can you attract and retain top talent?

What should the industry be doing to attract more women at the start of their career paths?

How board diversity improves governance?

12:30 Finally on the map: Southeast Asia LP allocationFor many institutional investors, Southeast Asia remains a niche market: too small or too risky for a dedicated allocation. Deal flow is driven by large, usually intermediate transactions that are contested between the flagship Asia funds. However, Southeast Asia is becoming more attractive because of the growth of experience in the market, the establishment of a stable of talented managers in recent years and the trend for LPs looking for niche managers that are local experts who can outperform the market. In this session a group of international LPs will debate this compelling market, the case for committing their capital, and where they place the region on the risk and reward scale.

What are the current macro, political and regulatory challenges in the region?

How can investors navigate the fragmented markets in the region?

How do LPs view Southeast Asia compared with the rest of the world?

What is the best approach for allocation of funds, and can we expect any allocation changes?

Is Southeast Asia only viable when viewed as one investment destination, or do LPs investigate specific countries in the region?

13:15 Networking lunch and close of conference

Programme

R e g i s t e r b y p h o n e : + 8 5 2 2 1 5 8 9 6 3 6Please note the programme is subject to change.

Cancellation/refund policy: A cancellation charge of US$300 is applicable to written cancellations received on or before 5 July 2017. No refund will be made for cancellations after the date due to our advance guaranty obligations and administration costs. If you do not attend the event or notify us of your intention to cancel, the full fee will still be payable. A substitute delegate is welcome but the organiser MUST be notified in advance of the meeting to avoid incurring a charge. Substitutions may NOT be made at the meeting..Pay in advance: We will include registrants’ names on the official delegate list if we have received your registration fees on or before 12 July 2017. All payments should be made within 14 days from your invoice date. Regrettably, no entrance will be permitted for payments not received before the events take place.

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Fees include the two-day conference, refreshments and luncheons, one evening reception and all conference documents.

Venue and Accommodation

7th Annual Private Equity & Venture Forum

GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY

I plan to attend the Evening cocktail reception on Wednesday, 19 July at 17:45 Yes No

Singapore 2017

THE WESTIN SINGAPOREAddress: 13 Marina View, Asia Square Tower 2, Singapore 018961 http://www.thewestinsingapore.com/

A limited number of rooms at the Hotel have been reserved at a special rate ofDeluxe Room - S$350++ per room per night - Single Room (Room rate is subject to room availability and subject to 10% service charge and Goods & Services Tax.)

for AVCJ Forum participants on a first-come first-serve basis. Please book your room here directly with the hotel and identify yourself as an AVCJ Forum participant to qualify for the rate.

To book your room, please go to www.avcjsingapore.com, select “Venue & Accommodation” on menu. You can click on the booking link and book directly with hotel.

For any accommodation queries, please contact reservation team atE: [email protected] T: +65 6922 6888

(Please note AVCJ Private Equity & Venture Forum does not bear the responsibility for participants’ travel and accommodation arrangements.)

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REGISTRATION ENQUIRIES: Anil Nathani t: +852 2158 9636 e: [email protected] OPPORTUNITIES: George Sengulovski t: +852 2158 9643 e: [email protected] ENQUIRIES: Darryl Mag t: +852 2158 9639 e: [email protected] AND MEDIA ENQUIRIES: Meian Chan t: +852 2158 9649 e: [email protected] SERVICE DEPARTMENT: Jovial Chung t: +852 2158 9652 e: [email protected]

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