WITH investment from the Shenzhen government
guidance fund, an angel investment fund was set up in Shenzhen to
provide further assistance to the city's startup businesses.
The first phase of the fund will reach 5 billion yuan (US$7.92 billion). The fund will be jointly managed by two municipal State-owned enterprises, Shenzhen Investment Holdings Co. Ltd. and Shenzhen Capital Group.
Through market-oriented and professional operation, the fund will give full play to the allocation of market resources and the guiding role of financial funds, and lead social capital to invest in angel projects.
The fund will also speed up the cultivation of angel investment and financing in startups, which will boost the development of strategic emerging industries and promote industrial transformation and upgrading.
Shenzhen Investment Holdings, the sponsor of the angel fund, signed contracts with the first batch of the fund management institutions at the signing ceremony Saturday.
The first phase of the fund will reach 5 billion yuan (US$7.92 billion). The fund will be jointly managed by two municipal State-owned enterprises, Shenzhen Investment Holdings Co. Ltd. and Shenzhen Capital Group.
Through market-oriented and professional operation, the fund will give full play to the allocation of market resources and the guiding role of financial funds, and lead social capital to invest in angel projects.
The fund will also speed up the cultivation of angel investment and financing in startups, which will boost the development of strategic emerging industries and promote industrial transformation and upgrading.
Shenzhen Investment Holdings, the sponsor of the angel fund, signed contracts with the first batch of the fund management institutions at the signing ceremony Saturday.
Source:Shenzhen Daily
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