Sun Hung Kai Financial ("SHKF"), Hong Kong's leading non-bank financial institution, has established a pioneering venture capital fund with Shenzhen Oriental Fortune Capital Co. Ltd. ("OFC"), strengthening the Group's China strategy and opening the door on a swathe of potential investment opportunities in the booming mainland market.

The joint venture, Shenzhen Oriental Venture Capital Management Co. Ltd. ("SOVCM"), will be jointly-controlled through equal 49% stakes held by OFC and SHKF. It has launched with an initial fund size of RMB900 million (US$130 million/HK$1 billion), making it one of the largest mainland venture capital investment funds in the form of a limited partnership.

Targeting emerging companies that demonstrate the potential to undertake successful initial public offerings, SOVCM is strongly positioned to capitalise on potential investment opportunities in industries encouraged by the China government as growth sectors, including information technology, biological medicine, new energy, consumption and services, among others. SOVCM will provide a diversified service offering in the Shenzhen Special Economic Zone, including investment management, consultancy and information services.

Mr. Lee Seng Huang, Executive Chairman, Sun Hung Kai Financial, said: "This landmark alliance demonstrates the success of our China strategy, which over the years has seen us place a great deal of work into building relationships with key enterprises and regulatory authorities. This joint venture essentially now clears the path to pursue new business opportunities in this growing market."

OFC Chairman Dr. Chen Wei, formerly Chairman of the Shenzhen Venture Capital Association and President of the Shenzhen Capital Group Co. Ltd., will head the JV as Chairman. Christophe Lee, CEO, SHK Fund Management Ltd., will take on the Vice-Chairman role. In addition, the JV will be staffed by a group of leading mainland-based venture capital specialists, who have been consistently named by leading industry publications as China¡¯s top investment managers and venture capitalists.