HKIC reports HK$2 bln return in 2024, eyes larger, more systematic investments

Hong Kong Investment Corporation generated more than HK$2 billion in investment income in 2024, driven by returns from initial public offerings and biotechnology firms, chief executive Clara Chan Ka-chai said in an interview with Bloomberg.

Established in 2022 with an initial capital of HK$62 billion, HKIC has deployed less than 20 percent of its funds as of end-2024. Chan said the firm’s investment pace and returns are in line with its goals, adding that a balance must be maintained between risk and speed of deployment, according to a Bloomberg report.

Chan said the firm has entered its "second phase" and is seeking regional partners, including sovereign wealth funds, pension funds, and corporations, for larger-scale investments, while interest from investors in Southeast Asia and the Middle East is rising.

She said HKIC plans to accelerate investments in a more systematic manner over the coming year.

The fund currently invests across four portfolios covering sectors such as technology and biotech, with stakes in about 150 companies. Chan noted that future growth will mainly come from biotech firms.

Two portfolio companies that have already listed in the city delivered two- to threefold interest returns, she said.

In addition to the government’s initial funding, HKIC has received about HK$2.8 billion in fresh capital through the new Capital Investment Entrant Scheme.