Report Card Of Suzhou Fund: 19 Sub Funds Have Been Invested In Three Years To Achieve Full Coverage In Suzhou Within One Year

In 2020, Suzhou fund will be established for three years. Suzhou fund is the innovation industry development guidance fund of Suzhou, with a total scale of 50 billion yuan and the initial scale of 12 billion yuan. The fund is jointly funded by China Merchants Bank, Bank of Jiangsu, Suzhou Guofa group and management company.

21st century economic reporter learned that Suzhou fund has completed the investment decision of 20 sub funds, and has signed with the fund management team of 19 of them. The total scale of these sub funds registered in Suzhou is more than 30.7 billion yuan, and has invested 264 venture projects.

It is worth noting that the contribution of Suzhou fund has led to a total investment of about 2.4 billion yuan by the sub fund, the sub fund management team and the sub fund investment projects in Suzhou.

"In the entire financial sector, private equity investment is the most closely integrated industry segment." "Suzhou is the birthplace of China's master fund industry. We hope to be rooted in the industry, especially the industry in Suzhou, and cooperate with the leading investment institutions with market-oriented operation and management mechanism," Lin Xianghong, chairman of Suzhou fund, said in his speech

According to the initial goal, Suzhou fund will play a guiding role of state-owned assets, introduce social capital and excellent fund management team to invest in emerging industries in Suzhou by market means, further promote the effective integration of financial innovation, enterprise innovation and technological innovation in Suzhou, and provide impetus for improving the innovation and development level of Suzhou and realizing the economic and social transformation and development of Suzhou 。

From the perspective of industry sector, Suzhou fund mainly focuses on four areas: medical and health, advanced equipment manufacturing and Internet of things, new generation information technology, consumption upgrading and culture. According to Xu Ting, general manager of Suzhou fund, as of the end of August this year, the proportion of sub funds invested in the above four sectors were 39%, 25%, 22% and 14%.

From the perspective of administrative division, Suzhou governs five municipal districts (Gusu District, Huqiu District, Wuzhong District, Xiangcheng District, Wujiang District), four county-level cities (Changshu, Zhangjiagang, Kunshan and Taicang), and another county-level unit (Suzhou Industrial Park).

Xu Ting introduced that the investment projects of Suzhou fund funds have now covered nine sectors. In addition, the projects in Taicang are expected to be realized in the whole area of Suzhou.

Although half of the funds in Suzhou fund management come from state-owned assets, the fund management team has always adhered to the market-oriented operation. When the fund was established, Lin Xianghong publicly expressed the hope that the sub fund would not only maintain the investment strategy of market-oriented operation, but also combine with the industrial transformation and development of Suzhou.

On the spot of the annual meeting, Suzhou fund signed a strategic cooperation agreement with China Cinda. The reporter learned that Xinda will become the new investor of Suzhou fund, which is the first time that Cinda has contributed to the market-oriented private equity master fund.

After the introduction of the New Capital Regulation Bureau, it is difficult to regulate the fund-raising industry. This is what we have tried to do with different types of funding sources. " Suzhou fund partner Liu Yusha told reporters.

From the perspective of the development of the whole equity investment industry, the continuous promotion of capital market reform has shortened the project exit cycle of PE / VC companies. These changes in capital market are bringing about changes in the PE / VC industry.

"With the deepening of the registration system, the number of enterprises and transactions that PE / VC companies can invest in at the unlisted stage is only 2 / 3 of that in the past. In the past, the fifth round of investment was pre IPO. Now some companies are listed in two rounds. " In his speech, Lin Xianghong looked forward to the future development of the equity investment industry. He believed that PE and VC would move towards specialization, and even the "pipe + M & a" mode was expected to become the new mainstream of the equity investment industry.

He added that in the process of deepening market reform, Suzhou fund will try more possibilities.