Asian Venture Capital Journal (AVCJ) announced the 20th AVCJ Private Equity & Venture Capital Awards on November 19. INCE Capital was honored to win the “Fundraising of the Year – Venture Capital” award due to the extraordinary performance on raising its first USD fund.
As the industry's premier information source, the AVCJ tasks itself with highlighting the firms, professionals, investments, exits and fundraises that are a cut above the rest. The Awards have become a mark of distinction in Asian private equity, and a showcase for first-class innovation, ingenuity and performance. They are also unique in the region in how they are distributed - relying primarily on nominations and votes cast by Asia's entire private equity and venture capital community, but with contributions from a select panel of industry judges as well as the AVCJ Editorial Board. To be selected as a winner is to be truly acknowledged as preeminent.
In his acceptance speech, JP Gan, founding partner of INCE Capital, said, “It’s a great honor to receive AVCJ’s VC ‘Fundraising of the Year’ Award. We raised $352 million relatively quickly in 2019. So, first of all, I would like to thank all of our limited partners who have placed tremendous trust in us as we are a first-time fund. We will not let you down. In the past year, despite the Covid-19, we invested in 11 companies. My partners and investment team have worked hard, hand in h and with some of the great entrepreneurs during the pandemic. I’d like to thank my partners as well as the entrepreneurs we have worked with for the long lasting entrepreneurship. I am very confident the great entrepreneurial spirit will survive and outlast the virus. We will continue to empower the future greats. Finally, I would like to thank AVCJ’s support throughout my career. I’d like to share a story. Several years ago, I went to Hong Kong for the awards ceremony but I didn’t receive the award. In 2017, I didn’t go to the ceremony, but I received the ‘Venture Capital Professional of the Year’ award jointly with my former partner. This year, it is a virtual event but it does give me chance to show my appreciation to AVCJ in this recording for the record.”