Hong Kong Investment Corp (HKIC), the government's investment arm, has appointed 10 asset managers spanning venture capital, private equity, private credit, and hedge fund strategies to steward at least HK$3 billion under its upgraded cash-for-residency scheme.

The appointments make up the latest batch of managers for the Investment Portfolio under the New Capital Investment Entrant Scheme (New CIES), according to a Tuesday press release.

They include Value Partners (HKG:0806), Beyond Ventures, CMC Capital, FirstLight Capital, and Hidden Hill Capital.

Also appointed were M Capital, Polymer Capital, Primavera Capital, Trustar Capital/CITIC Capital with Vision Capital Investment Management, and Abax Global Capital.

HKIC said the proposals focused on themes including AI-enabled applications, sustainable technologies, materials science, and biotech.

The selection process was supervised by KPMG, with Clifford Chance providing legal advice.

Capital will be allocated evenly across the ten managers, with investment work beginning in the first quarter of 2026, HKIC said.