BUSINESS Chengdu hi-tech development zone attracts venture capital institutions


Chengdu hi-tech development zone attracts venture capital institutions

12:34, November 10, 2022

Chengdu Hi-Tech Industrial Development Zone.

An angel capital investment summit and a contract signing ceremony of master funds of the Chengdu Hi-Tech Industrial Development Zone (CDHT) was held in the zone on Oct. 26.

Themed new center, new high ground and new development, the event aims to form a whole-industry-chain platform for exchanges between master funds, venture capital institutions and science and technology enterprises.

The summit consisted of a major forum and three parallel sub-conferences that were broadcast online as well. The CDHT introduced it angel master funds, and released the first batch of nine angel sub-funds and outstanding venture capital institutions, with a scale of about 4 billion yuan($548 million), that signed cooperation contracts with it at the ceremony. The sub-capitals will invest in chips, industrial software, medicine and AI enterprises and projects in CDHT.

The angel capital managers said that CDHT has rich talent resources and comprehensive and balanced industrial factors, and these are attractive to investment institutions.

After that, CDHT unveiled the second batch of industries that it looks for new venture investors, and the industries are on-board intelligence, power semiconductors, nucleic acid drugs, cell therapy, biomedical artificial intelligence, quantum computing, drones and digital economy. The application will be opened until the end of November.

Investment institutions interested in the offer can follow the angel fund application guide published on the official website of CDHT, and take the initiative to plan and participate in the application.

CDHT plans to build a 300-billion-yuan full life cycle fund system integrating angel funds, venture capitals, industrial capitals and merger and acquisition over the next five years.

Up to now, CDHT has contacted with more than 300 investment institutions with a key fund scale of nearly 60 billion yuan.

CDHT has introduced a series of policies in recent years to promote the sustainable development of venture capital, and to build high-quality investment and financing ecology.

Since 2021, about 210 enterprises in CDHT have obtained various kinds of equity financing, and 43 enterprises have received financing of more than 100 million yuan in a single round. Up to now, the number of domestic and foreign listed enterprises in CDHT has reached 59.

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