Shanghai sci-tech innovation fund launched today

The fund aims to put  30 billion yuan assets under its management, with an initial raising of 6.5 billion yuan and state-owned cornerstone investors as its main limited partners. 

Shanghai sci-tech innovation hub equity investment fund was launched today during the 2017 Pujiang Innovation Forum, with an initial raising of 6.5 billion yuan (US$ 980 million).

As a market-oriented Fund of Funds platform, the fund was co-initiated by several state-owned enterprises including Shanghai International Group Corp, Shanghai Guosheng (Group) Co Ltd, Shanghai International Trust Co Ltd, Shanghai International Port (Group) Co Ltd and Zhangjiang Group as its cornerstone investors.

With an initial placement of 6.5 billion yuan, the fund aims to raise 30 billion yuan to support start-ups on information technology, biotechnology, advanced manufacturing, environmental protection and new energy industries. About 80 percent of the funds raised will be devoted to sub-funds, with the remaining 20 percent directly invested in key high-tech enterprises.

A letter of intent on strategic cooperation was signed between the Shanghai Sci-Tech Innovation Center Capital Co Ltd, the asset manager of the fund, and its partners as for projects like Zhangjiang science city, artificial intelligence, biomedicine and smart city fund.

Shanghai Sci-Tech Innovation Center Capital Co Ltd was established on the forum. It was incorporated this June with a registered capital of 100 million yuan.

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