The Innovation and Technology Commission announced today (November 13) that applications for fund managers of the Innovation and Technology Industry-Oriented Fund (ITIF) are now open. The deadline for applications is January 16, 2026.

     "To dovetail with the national strategy of developing 'patient capital' and further promote the effective collaboration among the Government, industry, academia, research and investment sectors, the Government has set up the ITIF to give play to the guiding and leveraging roles of government funding to channel more social capital to invest in innovation and technology (I&T) industries and support the development of emerging and future industries of strategic importance," a spokesman for the Commission said.

     With a funding allocation of $10 billion approved by the Legislative Council, the ITIF will invest in five thematic areas, namely (a) life and health technology, (b) artificial intelligence and robotics, (c) semi-conductors and smart devices, (d) digitalisation, upgrading and transformation, and (e) future and sustainable development. In order to guide market capital participation, the Government will play the role of "setting the stage", in a bid to attract more strategic investors. Each of the strategic investors shall commit no less than $3 billion, as limited partners (LPs), to invest alongside the Government into sub-funds under the various thematic areas. The Government will select eligible professional fund managers to set up the sub-funds. In addition to the contributions from the Government and strategic investors, the fund managers should also bring in other market investors to participate as LPs to make a contribution to the sub-funds. The capital commitment from the Government is capped at $1 billion to each sub-fund and will not exceed 25 per cent of the fund size of each sub-fund. The overall target size of the sub-funds is at least $40 billion.

     Each of the selected fund managers shall act as a general partner of the sub-funds and is responsible for setting up a limited partnership fund in Hong Kong, with a minimum fund size of $2 billion (including the contribution of the Government), raising non-government capital for the sub-fund, managing the day-to-day operations of the sub-fund, identifying investment targets according to the investment mandate, providing support to the investee companies and producing regular reports. The assessment criteria for fund managers include the applicant's background, management team's resources, investment strategy and processes, investment performance, company resources, experience and contributions, fundraising capabilities as well as fees, and would seek the advice from the Steering Committee.

     Furthermore, the Government welcomes more strategic investors to participate in the ITIF, jointly promoting the development of I&T industries in Hong Kong.

     Details of the application are available on the ITIF website (www.itf.gov.hk/en/funding-programmes/promoting-new-industrialisation/itif/index.html). For enquiries, please contact the ITIF Secretariat (Tel: 3863 0956; email: itif-enquiry@itc.gov.hk). For enquiries on becoming strategic investors, please contact the New Industrialisation Development Office (email: enquiry@itib.gov.hk) of the Innovation, Technology and Industry Bureau.

Ends/Thursday, November 13, 2025
Issued at HKT 17:00

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