The three-day programme in California’s tech hub offered ultra high net worth (UHNW) participants direct engagement with some of the successful tech venture capitalists and start-ups, covering emerging market trends and disruptive technologies, generative artificial Intelligence (AI) and deep tech, said HSBC.
It also included immersive tours to Playground Global, an early-stage investment firm, and Stanford Medical Centre, where participants witnessed life-saving transformations through AI powered medical operations.
A HSBC Global Research survey found that nearly 80% of private investors expect a pickup in venture capital activity over the next 12 months.
Lok Yim, regional head of global private banking, Asia Pacific, HSBC, said: “We are pleased to partner with HSBC Innovation Banking to curate this exclusive platform for our UHNW clients to exchange ideas with like-minded investors and draw inspiration from the authentic ingenuity that defines the tech community.”
David Sabow, head of innovation banking, HSBC USA, added: “Venture capital is increasingly a global story. As one of the largest international banks in the world, HSBC is uniquely positioned to connect family offices, sovereign wealth funds, and institutional investors with the general partners funding the next wave of global
Global private equity (PE) assets under management (AUM) increased to $8.2trn through 30 June 2023, and has grown 22% per year over the last five years, according to a recent McKinsey report.
Individual investors are expected to increase their capital commitments to PE funds at a CAGR of 18.8% by 2025 to $1.2trn, significantly outpacing institutional growth, Boston Consultancy Group reported.
In addition, 70% of investors in listed tech companies plan to maintain their tech sector weightings, while 16% intend to add to their current sector weightings, HSBC Global Research has found.
