On 3rd November 2020, Mr. Fung was invited to be a guest speaker in “The Asia Opportunity: the World’s New Growth Powerhouse?” of the Cyberport Venture Capital Forum 2020.
‘In Hong Kong, we have seen a lot of interesting opportunities in the last 12 months. Now we need to look beyond to the Guangdong-Hong Kong-Macao Greater Bay Area,’ he shared ‘a mere 5 percent of China’s population in the Bay Area contributes 11 percent of the country’s GDP. Home to 43 unicorns, the Bay Area has a wealth of investment opportunities on green tech.’ He pointed out that there are great opportunities out there we can explore.
In addition, “China has announced a huge investment plan to more than double the renewable energy percentage of total energy capacity by 2035 from the current 15 percent while Malaysia also has an aggressive plan to increase the renewable energy percentage of total energy from 3 percent last year to 20 percent by 2025. Therefore, there will be plenty of demand for capital investment on renewable energy,” Fung said.
“Asia GreenTech Fund (“The Fund”) was established against this backdrop. The Fund recently invested in a leading solar PV systems and service provider in Malaysia. The investment also enables the Fund to have an integrated platform for solar projects to capture the fast growing Malaysian green energy market. The move also facilitates us to enter other APAC markets on a later stage as the portfolio company is also Malaysia’s first company to penetrate in Philippines market,” Fung added.
Fung also emphasized that as Southeast Asia develops rapidly, the demand for renewable energy also surges. It is crucial to ensure the region is growing in a sustainable manner since many places in the region are suffering from serious flooding more than ever.