Hong Kong’s US$8 billion wealth fund eyes fintech, aerospace and AI for growth

The Hong Kong Investment Corporation (HKIC) is eyeing investments in fintech, aerospace and artificial intelligence, tapping the city’s strengths and a wave of incoming talent and enterprises as geopolitical shifts create new opportunities, according to its CEO.

The city’s wholly owned investment vehicle, which manages HK$62 billion (US$8 billion) in funds, would look at these new sectors in addition to its other focus areas, “playing to Hong Kong’s advantages in the context of the global competition”, Clara Chan Ka-chai said on Wednesday at the Asia Private Equity Forum.

“As a long-term investor, you actually see through the cyclical challenges; you see great opportunities like valuations for you to go in,” she said, referring to geopolitics and other risks.

As an institutional investor, HKIC was actively seeking co-investments from international institutions and identifying quality growth companies, Chan said.

Its dual mandate to deliver financial returns while strengthening the city’s long-term competitiveness coincides with a period of rising geopolitical tensions and China’s drive for tech self-reliance, opening new investment opportunities.