Guide fund of venture capital promotes development
- Details
- Category: Governmental News
- Published: Tuesday, 24 February 2015 12:31
According to the latest statistics from the Ningbo guide foundation of venture capital, so far, the organization committee of the foundation has approved 15 funds, motivating a total social capital of 2.12 billion yuan, with a leverage ratio of about 5. In the past three years, the foundation has invested in 106 projects in forms of equity participation and follow-up investment, including over 600 million yuan in local technological SMEs, showing a strong leverage effect of the fund.
After its establishment the government foundation has been functioning well. Recently, the Jointing Fund, with the equity participation of the guide foundation, succeeded in securing the support of 60 million yuan from the 2014 guide fund of the Ministry of Science and Technology. Before that, two sub-funds of the foundation had received the capital support from the State Commission of Development and Reform, the only two funds in Zhejiang Province to win the investment from the commission. So far, the foundation has attracted 160 million yuan from the central financial capitals and 1.331 billion yuan from other provinces or cities, providing abundant capital support for the accelerated growth of the high-tech enterprises and the transformation and reform of industries in Ningbo.
An increasing number of prominent venture capital organizations and Top 10 Angel Investors have be attracted and settled down in Ningbo, including APTECH, ZDKF, Cybernaut, Preangel partners and Plum Fund partners. Meanwhile, some high-end sci-tech and venture capital talents, including the returned overseas PHDs and "1000-people Plan" talents, have been attracted to Ningbo with the settlement of the venture capital giants. Besides new ideas for the city's transformation and upgrading, they have also brought with them the advanced technologies and high-quality projects to Ningbo.
"In 2015, we will focus on such strategic emerging industries as new materials, biomedicine, information technology, energy conservation and environmental protection and new marine technology." said a person in charge from Ningbo Guide Foundation Co. Ltd. In addition to expanding the scale of equity participation and enhancing the follow-up investment, the company will guide the capitals to participate in various exchange activities, such as capital matching meetings and production-funding docking meetings, in order to promote the seamless docking of capitals and intelligence, to accelerate the settlement of quality venture capitals, projects, technologies and talents from home and abroad in Ningbo.
