On 24 January 2020, the Ministry of Science and Technology officially announced the establishment of six new Venture Capital sub-funds, under the National Fund for Technology Transfer and Commercialisation. The six sub-funds will have a scale of 5.87 billion RMB, around one-third of which to be allocated by the central government’s finance.
| VC Sub-fund name
|
Registered in
|
Scale (RMB)
|
Focus industry
|
Management firm
|
| BaiYin Kejian Innovation VC Fund Limited Partnership
白银科键创新创业投资基金合伙 企业（有限合伙） |
Gansu province | 911 million | New materials, green technologies, advanced manufacturing | BaiYin Kejian Innovation Fund Management Co., Ltd
白银科键创新基金管理有限公司 |
| Weifang ZhongKe HaiChuang Equity Investment Limited Partnership
潍坊中科海创股权投资合伙企业 （有限合伙） |
Shandong province | 2 billion | Advanced manufacturing, ICT, medical technologies | HaiChuang Tiancheng (Guangzhou) Equity Investment Fund Management Co., Ltd
海创天成(广州)股权投资基金管理有限公司 |
| Ningbo ZhiEr VC Limited Partnership
宁波执耳创业投资合伙企业（有限 合伙） |
Zhejiang province | 1.06 billion | Biomedical technologies, ICT | Shanghai HaoShuo Investment Management Co., Ltd
上海灏硕投资管理有限公司 |
| Guangdong Publics KaiDe Technology VC Limited Partnership
广东国民凯得科技创业投资企业 （有限合伙） |
Guangdong province | 1 billion | New materials, advanced technologies, ICT | Guangdong Publics Venture Capital Management Co., Ltd
广东国民创新投资管理有限公司 |
| Beijing JinKe HuiSheng VC Limited Partnership
北京金科汇晟创业投资合伙企业 （有限合伙） |
Beijing | 525 million | Advanced manufacturing, ICT, biomedical technologies | Beijing JinKeJun Venture Capital Management Co., Ltd
北京金科君创投资管理有限公司 |
| Ivy Capital (Changzhou) Equity Investment Fund Limited Partnership
常春藤（常州）股权投资基金合伙 企业（有限合伙） |
Jiangsu province | 372 million | ICT, advanced manufacturing | Shanghai Ivy Capital Investment Co., Ltd
上海常春藤投资有限公司 |
| 5.87 billion | ||||
Note: contact details are provided in the original announcement from MOST (see link below).
Selected through public bidding to MOST and MOF, VC sub-funds are the main medium through which the National Fund for Technology Transfer and Commercialisation (NFTTC) operates. Belonging to the fourth pillar of the national funding system (i.e. the Technology Innovation Guiding Fund), the NFTTC Fund supports the transfer and commercialisation of scientific results achieved under national and local government funding projects. At least 50% of the total investments should be done in enterprises legally registered in mainland China and which focus on the commercialisation of results included in the National S&T Achievement Database. Other means of support of the NFTTC Fund include credit risk compensations to banks issuing loans to tech start-ups; and performance awards.
A total of 20 VC sub-funds have been established since the creation of the NFTTC Fund in 2015, reaching a scale of 31 billion RMB (around one-fourth of the sub-funds’ capital comes from the central government). These are selected through public bidding to MOST and MOF, are registered as limited partnerships, and managed by a professional managing firm.
A detailed list of all the sub-funds established, including of their shareholders and daily management firm (and in some cases contact details), as well as of opportunities for international actors, is included in the corresponding factsheet on this website, and in chapter chapter 5.2 of the Guide for EU stakeholders on Chinese national STI funding available at this link.
External link:
http://service.most.gov.cn/2015tztg_all/20190124/2843.html
See also: