Following the formation of a series of sub-funds such as Liangjiang Strategic Fund, Liangjiang Chengwei Fund and Liangjiang Runyi Fund, on June 11, 9 enterprises, including CICC Capital Operation Co., Ltd. (hereinafter referred to as CICC Capital), 9 enterprises, including CSIC Group, Chongqing Industrial Guidance Fund, Liangjiang Strategic Fund and Chongqing Linkong Development and Investment Group Co., Ltd., jointly funded a new fund, CICC Keyuan Equity Investment Fund, with a total scale of nearly 5 billion yuan.
A member of the management committee of CICC and the head of the investment banking department said that this is the first equity investment fund for the emerging industries jointly established by CICC, the central enterprise group and the local government investment platform.
The 21st Century Business Herald reporter inquired through enterprise investigation that the fund was established on April 30, and there were 9 investors, namely The initiator of the Liangjiang Chengwei Fund, Chongqing Liangjiang New Area Cheng, was the enterprise management partnership (limited partnership) and CSIC Asset Management Co., Ltd. was the largest shareholder, holding 21.73% of the shares. Two major government investment platforms, Chongqing Industry Guidance Equity Investment Fund Co., Ltd. and Chongqing Linkong Development and Investment Group Co., Ltd., also participated, holding 19.56% and 10.87% of the shares respectively. CICC holds 11.86% of the equity through CICC Capital and CICC Qirong (Xiamen) Equity Investment Fund Partnership (Limited Partnership), a private equity investment fund business platform. CICC QiRong is the first equity investment fund of funds established and managed by CICC Capital through the innovative financing fund model.
In addition, Suzhou Huaxia Group Co., Ltd., Ningbo Huadai Zhilian Investment Partnership (Limited Partnership) and Xiamen Zhongyuan Kerong Investment Partnership (Limited Partnership) are all shareholders of the fund.
The 21st Century Business Herald reporter learned at the inauguration ceremony of the fund that the total scale of the CICC Keyuan equity investment fund is nearly 5 billion yuan, and the investment direction is strategic emerging industries such as electronic information, Internet of Things, new energy, aerospace, electric vehicles, high-end manufacturing, shipbuilding, military-civilian integration, and medicine.
Chongqing Liangjiang Hangtou Company Inner Wen Jing photo
A relevant person from the investment and financing department of Chongqing Zero One Space Aerospace Technology Co., Ltd., who attended the inauguration ceremony of the fund, told the 21st Century Business Herald that following the successful launch of sub-orbital rockets, the company is further looking for partners and investors. At 7:33:31 on May 17 last year, the commercial OS-X suborbital rocket "Chongqing Liangjiang Star" independently developed by the private enterprise was successfully ignited and launched at a base in northwest China. At 12:10:03 on September 7 last year, Zero One Space's second commercial suborbital rocket was successfully launched.
As the "leading goose" of Chongqing's economic and social development, Liangjiang New Area has a good foundation and advantageous conditions for the development of advanced manufacturing and strategic emerging industries, the four pillar industries of automobiles, electronic information, equipment manufacturing, and biomedicine are accelerating their growth, and a number of strategic emerging industries represented by digital economy, new materials, aerospace, etc. have a strong momentum of development and contain a large number of investment opportunities.
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The 21st Century Business Herald reporter sorted out the "fund system" of Liangjiang New Area as follows:
Liangjiang Strategic Fund: The Industrial Fund approved by the Management Committee of Liangjiang New Area to strengthen the development of strategic emerging industries, the current fund size is about 8 billion yuan, and the scale of the participating industrial fund is nearly 80 billion yuan. By investing in high-quality enterprises in Liangjiang New Area, guiding social capital to follow up with investment, and cooperating with first-class investment institutions to set up sub-funds, The Liangjiang Strategic Fund has formed a Liangjiang Strategic Fund system consisting of a series of sub-funds such as liangjiang strategic fund, liangjiang chengwei fund, liangjiang runyi fund, and Lingli capital. In terms of direct investment, the fund has invested in a number of high-tech projects such as Wanguo Semiconductor, Boao Bio, Shenhua Solar, Tianjiao Aviation, Xinjing Special Glass and other high-tech projects in Liangjiang New Area; in terms of cooperating in the establishment of sub-funds, it has participated in the advanced manufacturing industry investment fund organized by the National Development and Reform Commission, the Ministry of Industry and Information Technology and the Ministry of Finance, and managed by SDIC Innovation Investment Management Co., Ltd.
Liangjiang Strategic Fund will also set up professional industry funds such as aerospace industry investment fund, new energy vehicle fund, artificial intelligence industry fund, and biomedical industry fund.
Liangjiang Chengwei Fund: Established in May 2016, the major shareholders are Chongqing Liangjiang New Area Industrial Development Group Co., Ltd., Chongqing Liangjiang New Area Development and Investment Group Co., Ltd. and Chongqing Carrier No. 2 Enterprise Management Co., Ltd.
Liangjiang Runyi Fund: Established in November 2016, China Resources Shenzhen Investment Trust Co., Ltd. is the major shareholder and strategically invests in Liangjiang Strategic Fund.
Chongqing Industrial Guidance Fund Company: Approved by the Chongqing Municipal Government, with a paid-in capital of 10.2 billion yuan and a participating sub-fund scale of more than 130 billion yuan. The company is committed to building a "market-oriented, specialized, standardized and integrated" industrial investment platform, focusing on supporting the transformation and upgrading of pillar industries, the cultivation of strategic emerging industries and the development of innovative small and medium-sized enterprises, and giving full play to the leverage effect of financial funds.
Military-Civilian Integration Development Investment Fund: The Liangjiang Strategic Fund participated in the investment and was established cooperatively in the Liangjiang New Area.
Liangjiang Chengtong Dingfeng Advanced Manufacturing Industry Investment Fund: Liangjiang Strategic Fund was established in cooperation with Wuyuefeng Capital and China Chengtong. With a scale of 5 billion yuan, the fund focuses on advanced manufacturing fields such as semiconductors and equipment, clean technology, industrial automation, intelligent manufacturing, new materials and new processes, and can provide industrial capital for the transformation of Tsinghua University's relevant scientific research achievements in the western region. Founded by three Tsinghua alumni with a total scale of 20 billion yuan, Wuyuefeng Capital has completed more than 100 investments and mergers and acquisitions of top technology enterprises at home and abroad in the fields of semiconductors, advanced manufacturing, clean technology and precision medicine.
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