Gortune Investment, Infore Capital, and Others Sign Agreements to Settle at Thousand-Lantern Lake Venture Capital Town, with Fund Size Exceeding RMB150 Billion
cs.com.cn (Wang Luo) - On March 9, the Guangdong Financial High-Tech Zone held the signing ceremony for key fund projects to settle at the Thousand-Lantern Lake Venture Capital Town, along with the launch of the private equity fund management service platform. At the event, the private equity fund management service platform of the Thousand-Lantern Lake Venture Capital Town was officially launched. The platform aims to enhance service management effectiveness by establishing a risk monitoring system featuring big data and blockchain technology, thus promoting the high-quality development of the Thousand-Lantern Lake Venture Capital Town. In addition, Gortune Investment and nine other key funds signed agreements to settle in the town, and 10 other institutions, including Beijing Peakview Capital, signed agreements with the Foshan Nanhai District Innovation and Entrepreneurship Guidance Fund. The total fund size of the Thousand-Lantern Lake Venture Capital Town officially surpassed RMB150 billion.
The fund size of the town surpasses RMB150 billion
On the same day, 10 key funds, including Gortune Investment, IDG Capital, GAC Capital, Country Garden Venture Capital, Infore Capital, REMAC Venture Capital, Foshan High-Tech Fund, Cherami Sun Tour Capital, Yili Capital, and Thousand-Lantern Capital, signed agreements to settle at the Thousand-Lantern Lake Venture Capital Town, with a total fund size exceeding RMB12 billion.
As of March 8, 2022, the Thousand-Lantern Lake Venture Capital Town has attracted 1,133 private equity fund institutions, and gained RMB151.2 billion in total fundraising and investment size.
At the conference, 10 other funds, including Beijing Peakview Capital, Poly Capital, and Guangdong SCTC, became the fifth batch of prospective cooperative institutions for the Nanhai District Innovation and Entrepreneurship Investment Guidance Fund. The sub-funds of these institutions have a total size of over RMB3 billion, bringing the total size of the sub-funds to nearly RMB10 billion.
According to the introduction, one of the sub-funds signed at this event, Shenzhen DB Investment Management Co., Ltd., a private equity investment firm focused on semiconductors and smart IoT (Internet of Things), is collaborating with Chongqing MAS Technology, a listed company in mining safety monitoring and smart security, to build the DB-MAS Intelligent Sensor Industry Base in Nanhai District. This base aims to create a core ecosystem for emerging strategic industries centered around research and development (R&D) and growing enterprises. Currently, the first batch of six companies has been introduced to the base, all of which are involved in intelligent sensors and related design and R&D, with four companies already relocated or registered in Nanhai District.
“With Nanhai’s industrial and geographical advantages, there is a high level of alignment with the industries we are currently investing in.” said Zhao Wei, founding partner of DB Investment. “We hope to build an R&D-driven industrial ecosystem around intelligent sensors to better serve traditional industries.”
Latest data shows that the actual investment amount by fund institutions at the Thousand-Lantern Lake Venture Capital Town has reached RMB79.4 billion, with a total of 1,106 projects invested, of which more than 25% are directed towards local enterprises in Foshan.
The private equity fund management service platform is officially launched
At the event, the private equity fund management service platform of the Thousand-Lantern Lake Venture Capital Town was officially launched. According to reports, after summarizing the practical operation experience of investment attraction, service, management and risk control in the private equity industry in the past three years, the private equity management service platform was organized and developed. The platform features characteristics such as data network platformization, online entry processes, pre-warning systematization, comprehensive real-time management, and private equity big data visualization. It provides a new model of settlement service experience, establishing a risk monitoring system using big data and blockchain technology. This allows for comprehensive monitoring and evaluation of the quality of private equity fund institutions looking to settle in, with automatic identification and early warning of various risks for already settled institutions.
On the same day, the CSRC Guangdong Office, the Financial Industry Development Office of Nanhai District, the People’s Bank of China Nanhai Branch, and the Administration for Market Regulation of Nanhai District jointly signed a Private Equity Fund Regulatory Cooperation Memorandum. The aim is to explore and implement a new model for coordinated regulation of private equity funds in Foshan’s Nanhai District, establish a long-term risk prevention and control mechanism in the private equity sector, and collectively guide the legal and compliant operation of private equity funds in Nanhai District and the Thousand-Lantern Lake Venture Capital Town.
Establishment of Guangdong Green and Low-Carbon Industry Fund
At the meeting, Technology Financial Group signed a strategic cooperation framework agreement with the Nanhai District People’s Government. The two parties will collaborate to establish the Guangdong Green and Low-Carbon Industry Fund, focusing on the development needs of Nanhai District’s “Two Highs and Four News” leading industries and other key sectors. They will also jointly establish a Green Technology Transformation Fund at the Thousand-Lantern Lake Venture Capital Town and prepare to launch the “Guangdong-Hong Kong-Macao Greater Bay Area Green Technology Bank Operation Entity”, among other initiatives, to promote the implementation of innovation platforms.
Deputy Secretary-General Wang Lei of the Foshan Municipal Government stated that the new strategic cooperation between Nanhai District and Technology Financial Group will provide stronger support for the high-quality development of the Thousand-Lantern Lake Venture Capital Town, achieving a win-win situation for both enterprise progress and local development, and injecting stronger financial momentum into the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.