Hong Kong government’s venture fund eyes bigger bankroll after double-digit return

The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO.“Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But we have already bypassed the J-curve, as we have earned HK$2.3 billion [US$293 million] in 2024, while we have achieved a double-digit rate of return in 2025.”The strong performance, which will be detailed in HKIC’s annual report next month, came from many of its 200 investment projects achieving their growth targets, Chan said in a meeting of the Legislative Council’s Financial Affairs Panel on Monday.