Applications for fund managers to participate in the Innovation & Technology Industry-Oriented Fund (ITIF) are open until January 16, 2026, the Innovation & Technology Commission announced today.

The commission explained that the ITIF will guide and leverage government funding to attract more investment in innovation and technology (I&T) industries, thereby supporting the development of emerging and future industries of strategic importance.

With a funding allocation of $10 billion approved by the Legislative Council, the ITIF will invest in five thematic areas, namely: life and health technology; artificial intelligence and robotics; semi-conductors and smart devices; digitalisation, upgrading and transformation; and future and sustainable development.

In order to guide market capital participation and attract more investment, strategic investors must each commit no less than $3 billion, as limited partners. They will invest alongside the Government into sub-funds under the five thematic categories.

The capital commitment from the Government is capped at $1 billion for each sub-fund and will not exceed 25% of the fund size of each sub-fund. The overall target size of the sub-funds is at least $40 billion.

Each fund manager selected will act as a general partner in the sub-funds and be responsible for setting up a limited partnership fund in Hong Kong, with a minimum fund size of $2 billion, including the Government’s contribution.

Their duties will also include raising non-government capital for the sub-funds, managing the day-to-day operations of the sub-funds, and producing regular reports.

Click here for application details.