The Hong Kong Investment Company (HKIC) has disclosed its investment performance for the first time since its establishment three years ago. CEO Chan Ka-kit stated that the company generated over HK$2 billion in investment returns in 2024, benefiting from investments in initial public offerings (IPOs) and biotech firms.

Founded in 2022 with an initial investment fund of HK$62 billion, HKIC had deployed less than 20% of its capital by the end of last year. In addition to the HK$62 billion initial government injection, the company secured approximately HK$2.8 billion in new funding from the New Capital Investor Scheme.

Chan emphasized that HKIC's investment pace and returns align with its targets, highlighting the need to balance risk and deployment speed. The fund has now entered its second phase, seeking regional partners such as sovereign wealth funds, pension funds, and corporations for larger-scale investments. Meanwhile, investors from Southeast Asia and the Middle East have shown strong interest in Hong Kong and mainland Chinese enterprises.

Looking ahead, HKIC plans to systematically increase investments over the next year. Currently, the fund operates through four portfolios, covering 150 companies across sectors like technology and biotech. Chan noted that biotech firms will be a key growth driver, with several portfolio companies exploring listings in Hong Kong or potential mergers. Two Hong Kong-listed companies within the portfolio have already delivered returns of two to three times the initial investment.