Synopsis: Drawing from the our experience in supporting CIES advisers, we share how these advisers have successfully competed against bigger players, and how they will continue to do so
The document summarizes the key recommendations from a report by the K.B. Chandrasekhar Committee on Venture Capital in India. The committee recommended harmonizing regulations under a single regulator to simplify compliance. It also recommended providing tax pass-through status for venture capital funds and allowing foreign venture capital investors to register with SEBI for hassle-free investments. The recommendations aim to develop a supportive regulatory environment to boost venture capital activity and foster innovation in India.
This document describes the Israel FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Israel has a strong culture of innovation bolstered by government support and a highly educated workforce. The country has the largest number of startups per capita in the world, around 1 startup for every 1,400 people. Some of these startups have gone on to be high-profile exits, including Waze, which sold for $1.3 billion, and Mobileye for $15.3 billion. The technology education imparted in army units has helped nurture entrepreneurs in the country.
Key Findings:
- The Israel Defense Forces (IDF) provides potential entrepreneurs with the opportunity to develop a wide array of skills as well as a network.
- The Bank of Israel’s initiatives such as simplifying the process of establishing a new bank, creating an API standard for open banking, and creating the Central Credit Register are aimed to increase competition in the financial services industry.
- As of August 28, 2018, Israel hosts 426 FinTechs, operating in diverse areas including payments, trading and investing, lending and financing, anti-fraud and insurance, with concentration in payment and trading and investing. There is a shift in the start-up business model in the recent years as more and more companies are planning to partner/collaborate with banks.
- Israeli FinTechs are also often born with a global mindset at the start – due to the small domestic market and concentrated nature of the local banking sector. This international-first mindset is often attractive to multinational investors.
- Global and local financial service providers have partnered with startups through incubation and acceleration. Citibank and Barclays set up their innovation centers in 2011. In March 2018, Deutsche Bank also announced plan to establish its technology center.
- In April 2018, insurance company Menorah Mivtachim became a strategic partner with IBM accelerator Alpha Zone, and is selecting advance-stage Israeli insurtech startups for a 20-week acceleration program.
- Israeli tech startups have been attracting investment from local and global investors alike. In the first six months of 2018 more than $400 million was raised in 45 deals, exceeding previous half-year investments by 33% and 45%, respectively. International attention is increasing as international investors participated in 73%of investment deals in the first half of 2018, up from 66% in 2017, and 60% from 2016.
- The Israeli government provides financial support for tech companies through grants offered by the Israel Innovation Authority. In July 2017, the Israeli Ministry of Finance announced a tender for up to four government-backed technology growth funds.
Foreign direct investment in Pakistan - Opportunities and ChallengesZeeshan Shahid
Slide deck used in SZABIST event arranged by Faculty of Management Sciences for MBA Students. Talks about FDI in Pakistan and its determinants along with their underlying challenges.
Islamic Finance and Law Conference - UCD May 2015Martin Moloney
This document provides a summary of Martin Moloney's speech on Islamic finance and securities regulation in Ireland. Some key points:
- Ireland has authorized over 10 Sharia-compliant funds and approved 35 Islamic financial instruments, showing its ability to facilitate Islamic finance.
- The Central Bank of Ireland reviews Islamic funds and instruments to ensure appropriate risk disclosure but does not assess Sharia compliance. It relies on independent Sharia supervisory boards for that.
- Issues that may become more prominent as Islamic finance grows include the lack of a central Sharia authority in Ireland and potential risks from "Sharia arbitrage" between different scholarly opinions. Proper documentation will also remain important.
InduStreams provides private placement and fundraising services for infrastructure funds. Their process involves first understanding the client's situation and objectives. They then work with the client to develop an engagement agreement and investment proposition. InduStreams will engage with 50-100 potential investors to generate interest, then work to develop deals and close agreements between interested investors and the client fund. They are able to leverage their large network of over 1,000 infrastructure executives, particularly in China and Europe, to connect funds with interested limited partners and strategic investors.
The document discusses crowdfunding and equity crowdfunding (ECF) in Malaysia. It provides details on:
- How ECF works and the different types of investors that can participate
- The licensing of six ECF platforms in Malaysia and an example of one called CrowdPlus
- The process ECF platforms use to vet projects, conduct due diligence, and list projects for investment
- Potential benefits for startups using ECF, like access to international investors and mentorship
- Misconceptions about ECF and how it can complement traditional financing options
The document discusses foreign direct investment (FDI) in Pakistan. It defines FDI and outlines reasons for investing in Pakistan, including its strategic location, workforce, economic outlook, investment policies, and financial markets. It also discusses inward and outward FDI, types of FDI, methods of investment, FDI flows in Pakistan, major greenfield projects, Pakistan's investment policy, and a case study of a Pakistani law firm assisting foreign investors.
The document provides an overview of venture capital opportunities in Chile. It discusses the history of venture capital in Chile, noting that while the industry has expanded in recent years, most investments have been in later development stages rather than true venture capital. Current opportunities exist to fund more early-stage startups, as there are many incubators generating deal flow but limited funding below $1 million. The accelerator model is presented as an alternative for channeling funds to early-stage companies, with examples of successful accelerators globally.
The document summarizes the key recommendations from a report by the K.B. Chandrasekhar Committee on Venture Capital in India. The committee recommended harmonizing regulations under a single regulator to simplify compliance. It also recommended providing tax pass-through status for venture capital funds and allowing foreign venture capital investors to register with SEBI for hassle-free investments. The recommendations aim to develop a supportive regulatory environment to boost venture capital activity and foster innovation in India.
This document describes the Israel FinTech landscape, approaching the analysis from a FinTech, regulatory, Investment and talent standpoint.
This document serves as a snapshot of the key pillars of a FinTech ecosystem in a country and provides a good overall view of the state of FinTech at a glance.
Israel has a strong culture of innovation bolstered by government support and a highly educated workforce. The country has the largest number of startups per capita in the world, around 1 startup for every 1,400 people. Some of these startups have gone on to be high-profile exits, including Waze, which sold for $1.3 billion, and Mobileye for $15.3 billion. The technology education imparted in army units has helped nurture entrepreneurs in the country.
Key Findings:
- The Israel Defense Forces (IDF) provides potential entrepreneurs with the opportunity to develop a wide array of skills as well as a network.
- The Bank of Israel’s initiatives such as simplifying the process of establishing a new bank, creating an API standard for open banking, and creating the Central Credit Register are aimed to increase competition in the financial services industry.
- As of August 28, 2018, Israel hosts 426 FinTechs, operating in diverse areas including payments, trading and investing, lending and financing, anti-fraud and insurance, with concentration in payment and trading and investing. There is a shift in the start-up business model in the recent years as more and more companies are planning to partner/collaborate with banks.
- Israeli FinTechs are also often born with a global mindset at the start – due to the small domestic market and concentrated nature of the local banking sector. This international-first mindset is often attractive to multinational investors.
- Global and local financial service providers have partnered with startups through incubation and acceleration. Citibank and Barclays set up their innovation centers in 2011. In March 2018, Deutsche Bank also announced plan to establish its technology center.
- In April 2018, insurance company Menorah Mivtachim became a strategic partner with IBM accelerator Alpha Zone, and is selecting advance-stage Israeli insurtech startups for a 20-week acceleration program.
- Israeli tech startups have been attracting investment from local and global investors alike. In the first six months of 2018 more than $400 million was raised in 45 deals, exceeding previous half-year investments by 33% and 45%, respectively. International attention is increasing as international investors participated in 73%of investment deals in the first half of 2018, up from 66% in 2017, and 60% from 2016.
- The Israeli government provides financial support for tech companies through grants offered by the Israel Innovation Authority. In July 2017, the Israeli Ministry of Finance announced a tender for up to four government-backed technology growth funds.
Foreign direct investment in Pakistan - Opportunities and ChallengesZeeshan Shahid
Slide deck used in SZABIST event arranged by Faculty of Management Sciences for MBA Students. Talks about FDI in Pakistan and its determinants along with their underlying challenges.
Islamic Finance and Law Conference - UCD May 2015Martin Moloney
This document provides a summary of Martin Moloney's speech on Islamic finance and securities regulation in Ireland. Some key points:
- Ireland has authorized over 10 Sharia-compliant funds and approved 35 Islamic financial instruments, showing its ability to facilitate Islamic finance.
- The Central Bank of Ireland reviews Islamic funds and instruments to ensure appropriate risk disclosure but does not assess Sharia compliance. It relies on independent Sharia supervisory boards for that.
- Issues that may become more prominent as Islamic finance grows include the lack of a central Sharia authority in Ireland and potential risks from "Sharia arbitrage" between different scholarly opinions. Proper documentation will also remain important.
InduStreams provides private placement and fundraising services for infrastructure funds. Their process involves first understanding the client's situation and objectives. They then work with the client to develop an engagement agreement and investment proposition. InduStreams will engage with 50-100 potential investors to generate interest, then work to develop deals and close agreements between interested investors and the client fund. They are able to leverage their large network of over 1,000 infrastructure executives, particularly in China and Europe, to connect funds with interested limited partners and strategic investors.
The document discusses crowdfunding and equity crowdfunding (ECF) in Malaysia. It provides details on:
- How ECF works and the different types of investors that can participate
- The licensing of six ECF platforms in Malaysia and an example of one called CrowdPlus
- The process ECF platforms use to vet projects, conduct due diligence, and list projects for investment
- Potential benefits for startups using ECF, like access to international investors and mentorship
- Misconceptions about ECF and how it can complement traditional financing options
The document discusses foreign direct investment (FDI) in Pakistan. It defines FDI and outlines reasons for investing in Pakistan, including its strategic location, workforce, economic outlook, investment policies, and financial markets. It also discusses inward and outward FDI, types of FDI, methods of investment, FDI flows in Pakistan, major greenfield projects, Pakistan's investment policy, and a case study of a Pakistani law firm assisting foreign investors.
The document provides an overview of venture capital opportunities in Chile. It discusses the history of venture capital in Chile, noting that while the industry has expanded in recent years, most investments have been in later development stages rather than true venture capital. Current opportunities exist to fund more early-stage startups, as there are many incubators generating deal flow but limited funding below $1 million. The accelerator model is presented as an alternative for channeling funds to early-stage companies, with examples of successful accelerators globally.
MENA PEA_10th Annual Private Equity and Venture Capital Report for 2015Lina El Zein
Private equity and venture capital activity in the MENA region continued to grow in 2015 according to the report. The number of disclosed transactions increased significantly from 72 in 2014 to 175 in 2015, reflecting growth in both private equity and venture capital investments. While total investment values decreased slightly by 4% compared to 2014 levels, the average size of private equity deals decreased. Fundraising levels also declined compared to previous years, though some managers adopted a "deal by deal" approach rather than relying on formal funds. Overall, private equity managers surveyed indicated continued challenges with fundraising in 2016 but demonstrated an ability to find investment opportunities and increase divestment values and levels.
IDFC First Bank: Analysis and Outlook Mitali Pania
This document analyzes IDFC FIRST BANK. It provides an overview of trends in the Indian banking sector, including strong credit growth. It outlines the merger that formed IDFC FIRST BANK and describes its leadership and shareholding. The document observes trends in the bank's financials like rising net interest income and CASA deposits. Capital adequacy ratios are projected to gradually decline but remain above regulatory limits. Non-performing assets are expected to fall to healthy levels by 2024-25.
A guide to all cash shells. The guide covers the meaning of cash shells. What are cash shell companies. Cash shells for sale . How to undertake a reverse takeover . The process of a cash shell transaction. Cash shells on AIM. Cash Shells on the standard list. Cash Shells on NEX .How to value cash shells. The cost of cash shells. Cash shell companies on the London Stock Exchange. Cash shell IPO. Investing in cash shell companies. The benefits of cash shells. The drawback of cash shells. list of cash shells. cash shell contact details. UK cash shells.
The document discusses foreign portfolio investment (FPI) in Pakistan from 2001-2011. It analyzes how FPI increases liquidity and foreign reserves, induces new investment, and encourages existing businesses to expand. FPI lowers the cost of capital by making markets more liquid and efficient. While FPI provides benefits, Pakistan needs stronger efforts to attract domestic and foreign investment by improving stability, reducing bureaucracy, and developing infrastructure to strengthen investor perceptions. The analysis concludes that overall, FPI brings net benefits by integrating Pakistan's economy globally and transferring technology and skills.
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Asso...Rami Al-Karmi
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Association includes my thought leadership piece on page 19 - Section4 titled :
Entrepreneurship versus Business as usual in MENA - the "new reality"
Venture capital is money provided by investors to start-up companies and small businesses with potential for growth. It allows these companies, which typically do not have access to public capital markets, to obtain financing in exchange for equity. Venture capital carries high risk for investors but also the prospect of above-average returns if the investment is successful. Venture capitalists usually seek a say in company decisions and take board positions in addition to obtaining a share of equity. They aim to use their expertise to support portfolio companies and exit their investments at a profit within 3 to 7 years.
Barclays is a major British multinational banking and financial services company headquartered in London. It has operations in over 50 countries and territories and provides personal and corporate banking, wealth management, investment banking, credit cards, and financing. Barclays investment banking division provides services like mergers and acquisitions advisory, financing, asset management, and risk management. The investment banking arm was established in 1985 and the name was changed to Barclays Investment Bank in 2012. Barclays has a strong position in the UK and global markets and looks to continue its recovery from losses during the 2008 financial crisis.
This document summarizes the types and motivations of foreign direct investment. It discusses inward and outward foreign direct investment, and the factors that encourage and restrict them. It also describes different types of foreign direct investments like greenfield investments, mergers and acquisitions, horizontal and vertical foreign direct investments. Finally, it outlines the main motivations for foreign direct investment, including resource seeking, market seeking, efficiency seeking and strategic asset seeking.
| Foreign Direct Investment | Foreign Direct Investment and Pakistan | Featur...Ahmad Hassan
introduction to foreign direct investment, definition and forms of foreign direct investment, features of foreign direct investment policies-Pakistan, investment policies of Pakistan, challenges to foreign direct investment in Pakistan, no go areas for foreign direct investment in Pakistan
Participatory notes (P-Notes) allow foreign investors to invest in Indian stock markets without directly registering with the market regulator SEBI. The Supreme Court has asked SEBI to issue guidelines to curb the flow of black money through P-Notes by better identifying their real owners. In response, the Indian stock market fell over 500 points on concerns that restrictions on P-Notes could reduce foreign investment inflows. SEBI has taken measures like increased reporting requirements and restrictions on certain types of P-Notes to balance curbing black money while not unduly impacting foreign investment.
Guide to a standard listing. London stock exchange standard listing. The costs of a standard listing.What is a standard listing.
AIM vs standard listing. Standard listing companies. LSE standard listing rules. Standard listing requirements. The Main Market standard listing. Benefits of a standard listing. drawbacks of a standard listing. Standard listing vs premium listing.London stock exchange rules. How to join the standard list.
Venture Capital Funding: An Insider’s ViewMilliporeSigma
Our Life Science business is fully dedicated to supporting small, biotech companies with cutting edge technologies. Besides technical aspects of molecule development and production, fundraising is omnipresent. This webinar will provide insights and perspectives from Merck Ventures, BV, a subsidiary of
Merck KGaA, Darmstadt, Germany.
At Merck Ventures, BV, a subsidiary of Merck KGaA, Darmstadt, Germany, the strategic corporate venture capital arm of Merck KGaA, Darmstadt Germany, we drive innovation and back entrepreneurs through equity investments and hands-on support. We focus on areas that impact the vitality and sustainability of our current and future businesses.
This webinar will provide you with the ABCs of venture capital including:
• How venture capital works
• The role of a corporate venture capital
• How we look at opportunities
This document discusses foreign institutional investors (FIIs) and their impact on India. It begins by explaining how FIIs started investing in India in 1992 and the process for foreign corporations to register as FIIs with SEBI. It outlines the eligibility criteria, registration process, and investment restrictions for FIIs. The document then compares FIIs to foreign direct investment and discusses both the advantages and disadvantages of portfolio investment through FIIs. It notes that while FIIs can significantly impact stock markets in the short-term, other economic factors also influence market performance. The document concludes by recommending policies to attract more FII investment and encourage growth.
Foreign institutional investors (FIIs) began investing in India in 1992 when the stock market opened to foreign investors. FIIs are foreign corporations registered with SEBI to trade in India's equity market. Eligible FIIs include pension funds, mutual funds, and asset management companies. To register, applicants must meet criteria like regulatory oversight in their home country and appoint a local custodian. Registered FIIs can invest in Indian shares, bonds, derivatives and other securities. FIIs provide capital for India without debt but also increase volatility as they enter and exit markets. While FDI is more stable, FIIs play a significant role in India's financial markets.
This document summarizes the growing interest in foreign hedge funds among institutional investors in Latin America, but also notes remaining barriers. While appetite has gradually increased in countries like Brazil, Chile, Colombia and Peru, local regulations and tax policies still discourage some allocation. Investors generally prefer large, well-known managers with plain vanilla strategies and strong track records. Establishing a local presence is seen as important for marketing efforts in the region.
The document outlines a strategy for Pakistan to attract foreign direct investment (FDI) from the United States. It identifies the key players involved, including the Pakistani and US governments, expatriates, US investors, and Pakistani businessmen. It recommends that the Pakistani Ministry of Investment go beyond its regular duties and incorporate additional components to attract FDI by presenting defined investment projects and availability of resources. It also suggests educating US investment communities, consulting firms, think tanks, corporations, and government agencies about investment opportunities in Pakistan's growing economy.
Venture capital involves providing long-term funding for startup companies and small businesses with high growth potential. It typically involves private equity investments and carries high risk but also high potential returns. Venture capital funds are established to raise money through various means and make investments according to regulations. While venture capital can provide large sums of financing for new companies, the process is complex and investors take an ownership stake, imposing some loss of founder autonomy. Top cities attracting venture capital in India include Mumbai, Bangalore, Delhi, and Hyderabad in sectors like IT, biotechnology, and financial services. Remedies to improve venture capital access include reducing regulations, improving management skills, and increasing market and infrastructure facilities.
IDFC is a major provider of infrastructure financing in India. It offers project financing, equity financing, structured products, and advisory/investment banking services focused on key sectors like transport, energy, telecom, and industrial infrastructure. IDFC has expanded from primarily financing power and roads to also include energy, IT, urban infrastructure, food, and agribusiness. It manages funds, provides investment banking services, and develops and finances infrastructure projects to support growth of the Indian economy.
Business BVI Janury 2016 Edition - The BVI - Corporate Evolution Serving Glob...Greg Boyd
This document summarizes changes in the legal profession over the past 20 years due to technology and globalization. Law firms have expanded globally and now use computers, laptops, and smartphones in their work. Client meetings are often electronic and major deals are closed through email exchanges of documents. The legal landscape has also been impacted by various global economic events like the Global Financial Crisis, which has led to an evolution in how offshore finance centers like the British Virgin Islands (BVI) operate to adapt to changing business needs and regulations. The BVI in particular provides a flexible corporate structure that supports foreign direct investment and multinational businesses.
The document summarizes the report of the K.B. Chandrasekhar Committee on Venture Capital in India. Some key points:
- Venture capital is important for funding startups and converting ideas into commercial products but the industry is still nascent in India.
- The committee recommends consolidating regulations under SEBI to simplify compliance. It also recommends tax pass-through status for registered venture capital funds.
- To increase funding, it recommends allowing Foreign Venture Capital Investors to invest freely like FIIs and permitting domestic institutional investors like banks and insurance companies to invest in venture funds.
MENA PEA_10th Annual Private Equity and Venture Capital Report for 2015Lina El Zein
Private equity and venture capital activity in the MENA region continued to grow in 2015 according to the report. The number of disclosed transactions increased significantly from 72 in 2014 to 175 in 2015, reflecting growth in both private equity and venture capital investments. While total investment values decreased slightly by 4% compared to 2014 levels, the average size of private equity deals decreased. Fundraising levels also declined compared to previous years, though some managers adopted a "deal by deal" approach rather than relying on formal funds. Overall, private equity managers surveyed indicated continued challenges with fundraising in 2016 but demonstrated an ability to find investment opportunities and increase divestment values and levels.
IDFC First Bank: Analysis and Outlook Mitali Pania
This document analyzes IDFC FIRST BANK. It provides an overview of trends in the Indian banking sector, including strong credit growth. It outlines the merger that formed IDFC FIRST BANK and describes its leadership and shareholding. The document observes trends in the bank's financials like rising net interest income and CASA deposits. Capital adequacy ratios are projected to gradually decline but remain above regulatory limits. Non-performing assets are expected to fall to healthy levels by 2024-25.
A guide to all cash shells. The guide covers the meaning of cash shells. What are cash shell companies. Cash shells for sale . How to undertake a reverse takeover . The process of a cash shell transaction. Cash shells on AIM. Cash Shells on the standard list. Cash Shells on NEX .How to value cash shells. The cost of cash shells. Cash shell companies on the London Stock Exchange. Cash shell IPO. Investing in cash shell companies. The benefits of cash shells. The drawback of cash shells. list of cash shells. cash shell contact details. UK cash shells.
The document discusses foreign portfolio investment (FPI) in Pakistan from 2001-2011. It analyzes how FPI increases liquidity and foreign reserves, induces new investment, and encourages existing businesses to expand. FPI lowers the cost of capital by making markets more liquid and efficient. While FPI provides benefits, Pakistan needs stronger efforts to attract domestic and foreign investment by improving stability, reducing bureaucracy, and developing infrastructure to strengthen investor perceptions. The analysis concludes that overall, FPI brings net benefits by integrating Pakistan's economy globally and transferring technology and skills.
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Asso...Rami Al-Karmi
4th Venture Capital in MENA Report ( 2013 in review) MENA Private Equity Association includes my thought leadership piece on page 19 - Section4 titled :
Entrepreneurship versus Business as usual in MENA - the "new reality"
Venture capital is money provided by investors to start-up companies and small businesses with potential for growth. It allows these companies, which typically do not have access to public capital markets, to obtain financing in exchange for equity. Venture capital carries high risk for investors but also the prospect of above-average returns if the investment is successful. Venture capitalists usually seek a say in company decisions and take board positions in addition to obtaining a share of equity. They aim to use their expertise to support portfolio companies and exit their investments at a profit within 3 to 7 years.
Barclays is a major British multinational banking and financial services company headquartered in London. It has operations in over 50 countries and territories and provides personal and corporate banking, wealth management, investment banking, credit cards, and financing. Barclays investment banking division provides services like mergers and acquisitions advisory, financing, asset management, and risk management. The investment banking arm was established in 1985 and the name was changed to Barclays Investment Bank in 2012. Barclays has a strong position in the UK and global markets and looks to continue its recovery from losses during the 2008 financial crisis.
This document summarizes the types and motivations of foreign direct investment. It discusses inward and outward foreign direct investment, and the factors that encourage and restrict them. It also describes different types of foreign direct investments like greenfield investments, mergers and acquisitions, horizontal and vertical foreign direct investments. Finally, it outlines the main motivations for foreign direct investment, including resource seeking, market seeking, efficiency seeking and strategic asset seeking.
| Foreign Direct Investment | Foreign Direct Investment and Pakistan | Featur...Ahmad Hassan
introduction to foreign direct investment, definition and forms of foreign direct investment, features of foreign direct investment policies-Pakistan, investment policies of Pakistan, challenges to foreign direct investment in Pakistan, no go areas for foreign direct investment in Pakistan
Participatory notes (P-Notes) allow foreign investors to invest in Indian stock markets without directly registering with the market regulator SEBI. The Supreme Court has asked SEBI to issue guidelines to curb the flow of black money through P-Notes by better identifying their real owners. In response, the Indian stock market fell over 500 points on concerns that restrictions on P-Notes could reduce foreign investment inflows. SEBI has taken measures like increased reporting requirements and restrictions on certain types of P-Notes to balance curbing black money while not unduly impacting foreign investment.
Guide to a standard listing. London stock exchange standard listing. The costs of a standard listing.What is a standard listing.
AIM vs standard listing. Standard listing companies. LSE standard listing rules. Standard listing requirements. The Main Market standard listing. Benefits of a standard listing. drawbacks of a standard listing. Standard listing vs premium listing.London stock exchange rules. How to join the standard list.
Venture Capital Funding: An Insider’s ViewMilliporeSigma
Our Life Science business is fully dedicated to supporting small, biotech companies with cutting edge technologies. Besides technical aspects of molecule development and production, fundraising is omnipresent. This webinar will provide insights and perspectives from Merck Ventures, BV, a subsidiary of
Merck KGaA, Darmstadt, Germany.
At Merck Ventures, BV, a subsidiary of Merck KGaA, Darmstadt, Germany, the strategic corporate venture capital arm of Merck KGaA, Darmstadt Germany, we drive innovation and back entrepreneurs through equity investments and hands-on support. We focus on areas that impact the vitality and sustainability of our current and future businesses.
This webinar will provide you with the ABCs of venture capital including:
• How venture capital works
• The role of a corporate venture capital
• How we look at opportunities
This document discusses foreign institutional investors (FIIs) and their impact on India. It begins by explaining how FIIs started investing in India in 1992 and the process for foreign corporations to register as FIIs with SEBI. It outlines the eligibility criteria, registration process, and investment restrictions for FIIs. The document then compares FIIs to foreign direct investment and discusses both the advantages and disadvantages of portfolio investment through FIIs. It notes that while FIIs can significantly impact stock markets in the short-term, other economic factors also influence market performance. The document concludes by recommending policies to attract more FII investment and encourage growth.
Foreign institutional investors (FIIs) began investing in India in 1992 when the stock market opened to foreign investors. FIIs are foreign corporations registered with SEBI to trade in India's equity market. Eligible FIIs include pension funds, mutual funds, and asset management companies. To register, applicants must meet criteria like regulatory oversight in their home country and appoint a local custodian. Registered FIIs can invest in Indian shares, bonds, derivatives and other securities. FIIs provide capital for India without debt but also increase volatility as they enter and exit markets. While FDI is more stable, FIIs play a significant role in India's financial markets.
This document summarizes the growing interest in foreign hedge funds among institutional investors in Latin America, but also notes remaining barriers. While appetite has gradually increased in countries like Brazil, Chile, Colombia and Peru, local regulations and tax policies still discourage some allocation. Investors generally prefer large, well-known managers with plain vanilla strategies and strong track records. Establishing a local presence is seen as important for marketing efforts in the region.
The document outlines a strategy for Pakistan to attract foreign direct investment (FDI) from the United States. It identifies the key players involved, including the Pakistani and US governments, expatriates, US investors, and Pakistani businessmen. It recommends that the Pakistani Ministry of Investment go beyond its regular duties and incorporate additional components to attract FDI by presenting defined investment projects and availability of resources. It also suggests educating US investment communities, consulting firms, think tanks, corporations, and government agencies about investment opportunities in Pakistan's growing economy.
Venture capital involves providing long-term funding for startup companies and small businesses with high growth potential. It typically involves private equity investments and carries high risk but also high potential returns. Venture capital funds are established to raise money through various means and make investments according to regulations. While venture capital can provide large sums of financing for new companies, the process is complex and investors take an ownership stake, imposing some loss of founder autonomy. Top cities attracting venture capital in India include Mumbai, Bangalore, Delhi, and Hyderabad in sectors like IT, biotechnology, and financial services. Remedies to improve venture capital access include reducing regulations, improving management skills, and increasing market and infrastructure facilities.
IDFC is a major provider of infrastructure financing in India. It offers project financing, equity financing, structured products, and advisory/investment banking services focused on key sectors like transport, energy, telecom, and industrial infrastructure. IDFC has expanded from primarily financing power and roads to also include energy, IT, urban infrastructure, food, and agribusiness. It manages funds, provides investment banking services, and develops and finances infrastructure projects to support growth of the Indian economy.
Business BVI Janury 2016 Edition - The BVI - Corporate Evolution Serving Glob...Greg Boyd
This document summarizes changes in the legal profession over the past 20 years due to technology and globalization. Law firms have expanded globally and now use computers, laptops, and smartphones in their work. Client meetings are often electronic and major deals are closed through email exchanges of documents. The legal landscape has also been impacted by various global economic events like the Global Financial Crisis, which has led to an evolution in how offshore finance centers like the British Virgin Islands (BVI) operate to adapt to changing business needs and regulations. The BVI in particular provides a flexible corporate structure that supports foreign direct investment and multinational businesses.
The document summarizes the report of the K.B. Chandrasekhar Committee on Venture Capital in India. Some key points:
- Venture capital is important for funding startups and converting ideas into commercial products but the industry is still nascent in India.
- The committee recommends consolidating regulations under SEBI to simplify compliance. It also recommends tax pass-through status for registered venture capital funds.
- To increase funding, it recommends allowing Foreign Venture Capital Investors to invest freely like FIIs and permitting domestic institutional investors like banks and insurance companies to invest in venture funds.
This document is a project report submitted by a student to the University of Mumbai on international capital movement. It includes a declaration by the student, acknowledgements, a table of contents, and sections covering objectives, research methodology, and various topics related to international capital movement such as meaning, types, factors affecting, role, importance, trends, and policies. The report provides an overview of concepts and issues related to the flow of capital across international borders.
This document discusses the nature and scope of financial services. It begins by defining financial services and intermediation. It then describes the traditional and modern activities of financial services, including fund-based activities like underwriting and non-fund based activities like advisory services. Modern activities include project advisory, M&A assistance, and risk management services. Revenue sources include fund-based income from interest and investments, and fee-based income from services. Financial innovation was necessitated by factors like low profitability, competition, economic liberalization, and improved customer expectations.
For the second quarter this year, the number of deals stood at 111 with VC investments of $583 million while in January-March quarter this year, 126 deals took place and investments worth at $1.402 billion were done.
This document provides an overview of a product called Leyline that aims to connect accredited investors to private investment opportunities. It summarizes that currently less than 5% of accredited investors participate in private markets due to barriers like a lack of education, access, and transparency. Leyline's solution is to build an investor-centric platform that provides a single point of access to opportunities, education resources, and community tools to help more accredited investors participate in private markets. It outlines Leyline's team, marketing strategy, revenue model, competitive landscape, and potential exit strategies for investors.
Growth opportunities in forex with x forex.comxforexreviewusa
XForex, also known as Ultimass Global, Inc., offers easy entry into forex trading while providing experienced traders with basic transactions and personalized services. The document discusses five trends that will shape the financial industry in response to the economic crisis: 1) expanding into emerging global markets, 2) sharing IT platforms to reduce costs, 3) increasing e-banking capabilities, 4) investing in emerging markets for future growth, and 5) using innovative technology and customer-focused strategies.
Growth opportunities in forex with x forex.comxforexreviewusa
XForex, also known as Ultimass Global, Inc., offers easy entry into forex trading while providing experienced traders with basic transactions and personalized services. The document discusses five trends that will shape the financial industry in response to the economic crisis: 1) expanding into emerging global markets, 2) sharing IT platforms to reduce costs, 3) increasing e-banking capabilities, 4) investing in emerging markets for future growth, and 5) using innovative technology and customer-focused strategies. XForex aims to attract new traders by not charging commissions and providing multilingual support services.
Horizon 'Spot The Case' Round 1 Finalist
Team Name: Rolling Stone
Team Leader: Md. Abrar Jahin
Team Member: Anik Kumar Saha
Institution: Khulna University of Engineering and Technology, Khulna, Bangladesh
Department: Industrial Engineering and Management
From account opening to insurance underwriting to payments to peer-to-peer lending, FinTechs are innovating across areas and offering differentiated customer experience. India Fintech Ecosystem has been growing well over the last five years and many of these successful startups are now getting ready for international rollouts.
www.thedigitalfifth.com
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How Advisers Find Success in CIES
1. By Patrick Ho
Industry Insights
30 OctobER 2012 - March 2013
Drawing from the our experience in supporting CIES advisers, we share how these advisers have
successfully competed against bigger players, and how they will continue to do so.
I
n October 2003, the Hong Kong SAR
government launched the Capital
Immigration Entrant Scheme (CIES)
to facilitate the entry for residence in
Hong Kong by capital investment en-
trants, without the need to establish or
join in a business. The scheme enabled
eligible persons to apply for permanent
residence in Hong Kong by invest-
ing HKD10 million in permissible in-
vestment assets, adhering to portfolio
maintenance requirements, and having
seven years of continuous ordinary res-
idence in Hong Kong.
Since 2003, the scheme has been a
massive success.
How Advisers Find
Success In CIES
Success of CIES
Since its launch, the scheme proved to
be a huge success, attracting rich for-
eign investors with the wherewithal to
commit HKD10 million for 7 years to
Hong Kong.
Statistics from the Immigration De-
partment (IMD) show that the scheme
has approved some 14,122 entrants
since its inception to March 2012. And
based on figures compiled from the
Hong Kong government yearbook from
2003 to 2011, CIES-approved entrants
registered an average growth of 212%
year-on-year for the past eight years.
2011 stands out as a pinnacle year for
the scheme as it recorded 4,187 ap-
proved entrants, the highest absolute
number in a single year ever.
In terms of investment monies,
the CIES has contributed impetus to-
wards the development of Hong Kong
as Asia’s top financial market. Since
launch, the scheme has attracted al-
most HKD103 billion in investment
monies, of which 30.7% is recorded in
2011 inflows. These monies increased
demand for permissible investment as-
sets, as listed in the scheme. These as-
sets include equities listed on the Hong
Kong Stock Exchange, debt securities,
certificate of deposits, subordinated
2. OctobER 2012 - March 2013 31
Important: See Disclaimer on Page 7
debt and eligible collective investment
scheme (CIS), all with the specific con-
dition that they be HKD-denominated
assets. This condition (among others)
enhanced liquidity for local investment
products, which is especially critical in
the current tough market environment.
The CIES Client Base
With the exception of a few nationali-
ties, most foreign nationals are eligible
for the CIES, including Macao SAR
residents, Taiwanese residents and Chi-
nese nationals with permanent resident
status in a foreign country. Among the
groups of affluent foreign investors
who have chosen to reside in Hong
Kong based on the scheme, Chinese na-
tionals make up almost 85%, many of
which see the importance of permanent
residency in Hong Kong as important
as the investment opportunities that the
scheme offers.
One might even argue the perma-
nent resident status is the most attrac-
tive opportunity. Many Chinese nation-
als seek greener pastures, not just for
themselves, but also for their spouse,
their family, and their future. Others
seek the Hong Kong passport for easy
access to the rest of the world. There
are some who merely wish to enjoy the
ease and convenience of holding their
assets in Hong Kong, while they con-
tinue to reside in China.
For these reasons, and more, Chi-
nese nationals will continue to push
the growth of the number of CIES
applicants to new highs. In 2011,
of the estimated 3.37 million High
Net Worth Individuals (HNWIs) in
Asia Pacific, China alone accounts
for 562,000 as reported in the World
Wealth Report 2012 by Capgemini
and RBC Wealth Management. With
this number reported to grow by 5.2%
year-on-year in 2011, China is now
second only to Japan in the number of
HNWIs in Asia Pacific. This growing
trend will create more opportunities
for CIES advisers, for years to come.
Advisers Succeed In CIES
with iFAST
For advisers, the opportunities are
immense, as the administrative and
transactional infrastructure is already
in place, easily accessible with full sup-
port from adviser platforms, such as
iFAST Financial (HK). Our experience
in supporting advisers began when
we saw the ample opportunities in the
CIES space.
iFAST embarked on enhancing
its system and processes to support
all third party advisers on the iFAST
investment platforms. With these en-
hancements, advisers could focus on
generating leads, client acquisition, and
client advisory aspects of their business
– the front line aspect of the job – while
iFAST with its expertise as a platform
provider, would continue offering all
the back-office support, including ap-
plication and reporting to the IMD.
In October 2009, the extension to
fully support the CIES business was of-
ficially enabled, and since our humble
beginnings, the CIES business has since
grown to be an interesting and signifi-
cant portion of the iFAST platform busi-
ness. By the end of August 2012, total
assets acquired via the CIES business
amounted to HKD1.24 billion, servicing
more than 174 CIES investors brought
in by advisers from 27 different finan-
cial institutions on the iFAST platform.
Sales on the iFAST platform contin-
ue to grow. In the first half of 2012, sales
excluding switching in CIES accounts
amounted to almost HKD500 million, a
growth rate of 194% when compared to
the same period in 2011. This is in con-
trast to the performance of the Hang
Chart 1: Cumulative CIES Growth
Source: Hong Kong Goverment Yearbook (Population and Immigration) and iGP compilations
3. 32 OctobER 2012 - March 2013
Seng Index, and the broader investment
environment, which remains volatile
while moving perpetually sideways
during this period. CIES business on the
iFAST platform continues to see good
exponential growth, and these growth
rates are helping iFAST ride through
the financial impasse on firmer footing.
With growth comes competition, and
advisers need to keep a lookout for other
players looking to enter the CIES market.
Competition and Market
Share
iFAST is not the only firm making in-
roads into the CIES business. Advisers on
the iFAST platform will be aware of the
other players progressively positioning
themselves to offer their services to target
potential CIES clients. Banks are a major
force to be reckoned with. Their strong
brand name and their extensive network
of branches, make access to their services
easy. These advantages, coupled with a
streamlined through-train payment setup
where CIES clients can sometimes pay for
the CIES investments directly from main-
land banks, make the banks the market
leader in the CIES business.
In October 2010, the Hong Kong
government announced that insurers
authorised to carry on Class C business
will be permitted to act as a financial
intermediaries for the purpose of the
CIES. With this, the major insurance
companies started channeling their dis-
tribution forces to push CIES business.
There was also a mad rush by some
insurers to set up their own CIES per-
missible products, mainly single premi-
um investment-linked assurance plans.
This will allow them to charge clients
two sets of fees – agent commission re-
muneration and product fees.
Faced with such competition, inde-
pendent financial advisers would ben-
efit from support to help level the CIES
playing field. This is especially criti-
cal for the smaller advisory companies
with limited resources. The resources
and support provided by iFAST has
helped advisers compete with bigger
players by offering top-notch service
to the CIES clients. The numbers bear
this out – based on iFAST compilations,
in 2011, advisers on the iFAST platform
captured an estimated 24% of the CIES
market share in sales of eligible collec-
tive investment schemes, one of the per-
missible investment assets offered on
the iFAST platform.
This is an impressive feat, consider-
ing the challenges associated with com-
peting against bigger players.
Chart 2: CIES Growth
Source: Hong Kong Goverment Yearbook (Population and Immigration) and iGP compilations
Chart 3: iFAST CIES Cumulative Growth
Source: iGP compilations
4. OctobER 2012 - March 2013 33
Important: See Disclaimer on Page 7
How Successful Advisers
Leverage on iFAST
Advisers have found success on the
iFAST platform for several reasons.
Firstly, successful advisers focus on
their front line activities, such as face-
to-face interactions to reach potential
clients, or to service existing clients.
iFAST supports these advisers by tak-
ing care of all back-office administra-
tion. Our in-house team of CIES experts
have an in-depth understanding of the
CIES workflow and can support any
enquiries from advisers or their clients.
This includes submission and ongo-
ing reporting to the IMD, which mini-
mises mistakes and delays. iFAST also
provides meeting rooms for CIES client
meetings at its spacious and conveni-
ently located offices.
Furthermore, iFAST can complete an
entire workflow from account opening
to trade placement to the final submis-
sion to the IMD, within two business
days. Successful advisers leverage on
our expertise to free up time for the ac-
tivities that matter more to the client.
Secondly, successful advisers lev-
erage on the information resources
available on the iFAST platform.
iFAST platforms are custom designed
to cater to the need of advisers, CIES
clients as well as the stringent report-
ing demands of the IMD. Online ac-
cess to information on the investment
products, account details and client
statement of holdings provides great-
er convenience to both advisers and
their clients, especially if CIES clients
are overseas, or travel extensively.
Online access is similarly paramount
for advisers who are moving from one
meeting to another. Another informa-
tion resource that benefits advisers is
our extensive product training. Rather
than wade through reams of reports,
iFAST regularly conducts CIES invest-
ment workshops to educate advisers
on the salient selling points of these
products. Nothing beats meeting the
fund managers behind the investment
products and so iFAST will always in-
vite them to grace the seminars. The
popularity of this approach can be
seen when sometimes a top fund man-
ager will attract so many advisers that
even standing room is not available.
Thirdly, successful advisers lever-
age on the range of CIES permissible
investment products offered by iFAST,
which currently offers both debt se-
curities and eligible collective invest-
ment scheme (CIS) products. There are
a total of 16 mutual funds and 7 Hong
Kong listed exchange traded funds
(ETFs) as well as the full range of per-
missible over-the-counter bonds for
advisers to recommend based on the
respective risk profile of their clients.
This allows them to perform proper
investment planning. For clients, the
big range allows them to enjoy switch-
ing among these products without
compromising their CIES status.
Finally, successful advisers enjoy at-
tractive remuneration benefits offered
on the iFAST platform. The iFAST wrap
model allows advisers to charge an up-
front advisory fee, relatively in line with
the industry. However, the iFAST wrap
model also allows advisers to charge an
ongoing advisory fee for ongoing advi-
sory services rendered. This fee ranges
from 0% to 2.25%, enabling advisers to
earn recurring income on a yearly basis.
While the CIES permissible products on
iFAST do not have any lock-in periods,
the CIES entrants are required to keep
the investments for 7 years. So as long
as the investment stays within iFAST,
advisers will receive recurring income.
As an illustration, an adviser charging a
1% ongoing advisory fee for 10 CIES cli-
ents who each invested HKD10 million,
is looking at HKD1 million recurring in-
come per year for 7 long years!
Find Success In CIES
But ultimately, successful advisers have
to leverage on their ultimate asset: their
will to succeed. A conflation of positive
factors is driving the growth of CIES
accounts – from the growth of wealth
and the HNWI population in China, to
the complete commitment of the iFAST
platform’s expertise and resources – all
that remains now is for advisers to look
within themselves to see if they have
what it takes to seize the business op-
portunities.
For advisers with a conscientious
plan to create a network of contacts in
the mainland and seek out the potential
CIES clients, a very viable and success-
ful business awaits them.
For those who are keen to find out
more about iFAST CIES offerings, please
contact the iFAST business development
team at bd.hk@ifastfinancial.com. iGP
Table 1: CIES-eligible products available on iFAST
16 Mutual Funds
7 Exchange Traded Funds
OTC (Over-the-counter) bonds
Source: iGP compilations