Core Viewpoint - In July, a total of 44 listed companies (including subsidiaries) on the Shanghai and Shenzhen stock exchanges invested in private equity funds, contributing to 48 funds with a total disclosed investment amount of 6.148 billion yuan, averaging 121 million yuan per investment [2][9]. Group 1: Investment Distribution - The healthcare sector had the highest investment amount among the listed companies, followed by the materials sector. Both sectors also ranked first in terms of the number of investments made [13]. - The average scale of funds participated in by listed companies decreased compared to June, indicating a continued low overall investment level [6]. - State-owned enterprises made 11 investments totaling 3.416 billion yuan, while non-state-owned enterprises made 40 investments totaling 2.732 billion yuan [8]. Group 2: Regional Distribution - Guangdong was the region with the highest number of listed companies making investments, followed by Shanghai. The investment scale from Guangdong also exceeded 2 billion yuan [3][17]. Group 3: Investment Scale Distribution - The majority of investments were over 1 billion yuan, accounting for 47.8% of the total number of investments. Investments between 1-5 billion yuan accounted for 18.5%, while only 2% of the investments were between 5-10 billion yuan [19]. Group 4: Active Companies and Investment Events - Several active companies and their investment events were highlighted, including investments in healthcare, new materials, and smart manufacturing sectors [26][27][28][32].

近日，广西人工智能产业投资基金合伙企业（有限合伙）成立，执行事务合伙人为中信私募基金管理有限公司，出资额33亿人民币，经营范围为以 私募基金从事股权投资、投资管理、资产管理等活动。合伙人信息显示，该基金由中信私募基金管理有限公司、中信投资控股有限公司、广西投资引 导基金有限责任公司共同出资。 对接需求请扫码 每日｜荐读 峰会： 「2025母基金年度论坛」报名启动：汇聚中国力量！ 荐读： 事关政府投资基金，国家发改委公开征求意见 热文： 上海国资，买了一家上市公司 报告： LP出资热度回升，创投市场走出 "寒冬"｜月度LP观察 ...

近日，海峡出版发行集团出资组建的福建省海阅出版产业股权投资基金顺利完成工商注册。基金总规模人民币10亿元，首期设立规模3亿元。 该基金作为海峡出版发行集团产业投资平台，将聚焦文化产业生态链建设，重点布局三大领域：福建文化及相关产业、集团产业链上下游项目、集团 内重点项目，以此推动集团产业链协同发展与核心业务升级。 来源：海峡出版发行集团 投资布局上，基金将紧扣"文化 +"融合模式，围绕文化+科技、创意、旅游、教育、消费、金融等领域开展战略投资，积极培育新兴文化业态，形成 产业基金矩阵，提升集团资本运作效益。 每日｜荐读 峰会： 「2025母基金年度论坛」报名启动：汇聚中国力量！ 荐读： 事关政府投资基金，国家发改委公开征求意见 热文： 上海国资，买了一家上市公司 报告： LP出资热度回升，创投市场走出 "寒冬"｜月度LP观察 对接需求请扫码 ...

Core Viewpoint - The article discusses the resurgence of internet giants like Tencent, Alibaba, and JD.com in the private equity investment market as Limited Partners (LPs), signaling a structural recovery in the investment landscape for 2025 [4][10]. Group 1: Tencent's Investment Activities - On August 20, Shenzhen Zhishu Investment Partnership was established with a capital contribution of 16.08 billion yuan, involving multiple industry giants, including Tencent, which contributed approximately 7.22 billion yuan [6]. - In the preceding week, Tencent became the fifth-largest shareholder in Chengdu Longzhu Equity Investment Fund, contributing 100 million yuan [7]. - Throughout 2023, Tencent has invested nearly 10 billion yuan across various funds, maintaining a significant presence in the private equity landscape [7]. Group 2: Other Internet Giants' Activities - Other internet giants, including Alibaba and JD.com, have also increased their participation in private equity investments since 2025, indicating a strategic shift in asset allocation [8][10]. - JD.com contributed 500 million yuan to the Shenzhen Huakong Frontier Technology Private Equity Fund, while Alibaba participated as a major LP in Tianjin's Infinite Qihang Haihe Investment Partnership [10]. Group 3: Market Trends and Statistics - The private equity market in China is experiencing a structural recovery in 2025, with LP investment activity increasing by 8.15% month-on-month and 41.12% year-on-year as of June [13]. - The IPO market is gaining momentum, particularly in the Hong Kong market, providing more exit opportunities for investors [13]. - Key sectors attracting investment interest include artificial intelligence and robotics, with various LPs showing high investment willingness in these areas [13]. Group 4: Future Outlook - The year 2025 is anticipated to mark a new starting point for high-quality development in the venture capital industry, driven by policy support and technological advancements [14][16].

Core Viewpoint - The establishment of the first Qualified Foreign Limited Partner (QFLP) in the Heping District, Tianjin, marks a significant step in enhancing the region's financial services capabilities and competitiveness, while promoting the integration of financial capital with the local industrial ecosystem [1]. Group 1 - The Tianjin Jinchuang Equity Investment Partnership (Limited Partnership) has been officially registered with a capital of 54.5 million RMB, primarily backed by Hong Kong Jinyuan International Limited [1]. - The QFLP aims to focus on investments in domestic substitution and digital economy sectors, including new materials and advanced manufacturing, which are key national strategic emerging industries [1]. - The successful establishment of the QFLP is expected to attract high-quality private equity fund management companies and professional service institutions, creating a diversified investment ecosystem that enhances market liquidity and pricing efficiency [1]. Group 2 - The QFLP's launch is anticipated to inject "financial vitality" into the development of the Jinchuang District, facilitating a deeper integration of the industrial ecosystem in Heping District with financial capital [1].

Core Viewpoint - The company has established a specialized pharmaceutical industry investment fund in collaboration with professional investment institutions to enhance its industry investment ecosystem and core competitiveness [1][2]. Group 1: Investment Fund Details - The total committed capital for the specialized pharmaceutical industry investment fund is RMB 2 billion, with the company contributing RMB 980 million, representing a 49% stake [1]. - The fund will focus on investment areas including innovative drugs, medical aesthetics, health and wellness, animal health, and other sectors related to biology, medicine, and health that align with Hangzhou's five major industrial ecosystems [2].

Group 1 - Chengdu Longzhu Equity Investment Fund Partnership (Limited Partnership) has undergone a business change, adding new limited partners including Tencent, CICC Ruisheng, and Hangzhou Cultural Creative [1] - The new shareholders include Shenzhen Tencent Industry Investment Fund Co., Ltd. contributing 1 billion, CICC Ruisheng (Haining) Equity Investment Partnership (Limited Partnership) contributing 0.5 billion, Hangzhou Cultural Creative Industry Venture Capital Management Co., Ltd. contributing 0.3 billion, Chengdu Meizhu Enterprise Management Co., Ltd. contributing 0.23 billion, and Ningbo Meishan Free Trade Port Area Feizhu Equity Investment Partnership (Limited Partnership) contributing 0.02 billion [1] - The respective shareholding ratios for these contributions are 4.34%, 2.17%, 1.3%, 0.96%, and 0.087% [1] Group 2 - The "2025 Mother Fund Annual Forum" registration has started, aiming to gather Chinese strength [2] - The National Development and Reform Commission has publicly solicited opinions regarding government investment funds [2] - Shanghai State-owned Assets has acquired a listed company [2] - There is a recovery in LP investment enthusiasm, indicating that the venture capital market is emerging from a "cold winter" according to the monthly LP observation report [2]

以下文章来源于超募研究所 ，作者FOFWEEKLY研究 超募研究所 . 结合实操业务及公域&私域数据，为私募股权行业从业者（FOF、LP、GP等）提供专业性、垂直类研 究内容输出。 引言： 为了帮助GP及市场参与者穿透市场迷雾把握配置风向，我们对一级市场各类LP进行了最新、最全的梳 理，本系列梳理预计6-8篇，计划涵盖国家级引导基金、地方政府引导基金、险资、银行系、CVC、市 场化LP、S基金、公共型LP等相对活跃的LP类型。希望本系列研究可以给到行业一些帮助，也欢迎各 同仁与我们交流。 作者丨 FOFWEEKLY研究 银行资金受《商业银行理财业务监督管理办法》等监管规则约束，投资私募股权领域时对合规性和 合作主体资质要求极高。在筛选管理人时，银行往往偏好国资背景、头部持牌机构或过往业绩清 晰、无合规风险的管理人，对中小民营管理人准入门槛高。 （二）银行资产的整体配置情况 2025年，由于AIC扩容政策的发布，银行对于私募股权的出资活跃度与规模皆进一步提升，相较于 AIC参与设立引导基金，银行理财子的出资规模仍然较低/银行理财子的出资行为本质是理财产品 风险属性与股权投资收益需求的平衡，因此银行理财子在出资时 ...

Core Viewpoint - The successful launch of the QFLP project by Qiming Venture Partners and its collaboration with Kunshan Chuangkong Group aims to enhance investment in early and growth-stage companies in technology and medical innovation sectors, leveraging Kunshan's strong industrial foundation and favorable business environment [1][2]. Group 1 - The Kunshan Qishun Equity Investment Partnership has received pilot qualification approval, with a committed capital of $200 million, focusing on early and growth-stage companies in technology and medical innovation [1]. - The QFLP project is managed by Qiming Weichuang Equity Investment Management (Shanghai) Co., Ltd., with nearly $20 million allocated for investments in innovative medical devices, technology services, and equipment manufacturing [1]. - Qiming Venture Partners aims to leverage the QFLP project to innovate investment models and strengthen investment layouts in Kunshan's key industrial sectors, contributing to high-quality development [1][2]. Group 2 - The collaboration between Qiming Venture Partners and Kunshan Chuangkong Group integrates top investment capabilities in technology and medical innovation with Kunshan's robust industrial resources, injecting capital and innovation into the local industry [2]. - QFLP offers advantages such as flexible currency exchange, convenient investment, favorable conditions for invested companies, simplified tax structure, and preferential treatment for divestment, making it a primary pathway for foreign investors into China's private equity and venture capital markets [2]. - Qiming Venture Partners has managed a total of $9.5 billion in assets and invested in over 580 high-growth innovative companies, demonstrating its significant presence in the investment landscape [2].

Core Viewpoint - The article discusses the implementation of support measures for private equity funds in the Zhengzhou Airport Economic Comprehensive Experimental Zone, aimed at promoting the development of the private equity industry and attracting social capital to invest in the real economy [5]. Group 1: Support Measures - New private equity funds established or relocated to the zone can receive a settlement reward of up to 20 million yuan based on their paid-in capital or actual managed fund size [2]. - Investment rewards are available for angel, venture capital, or private equity funds that invest in enterprises aligned with the industrial direction of the airport zone, with a maximum reward of 4 million yuan based on actual investment amounts [3]. - Industry support funds will be calculated as 3.5% of total financial service net income and investment income, with an additional 8.5% of annual net profit if it exceeds 30 million yuan [4][20]. Group 2: Eligibility Criteria - The support measures apply to private equity funds established in accordance with national laws and regulations, registered and tax-registered within the airport zone [6][7]. - Funds must have a paid-in capital of no less than 30 million yuan, and management companies must have a registered capital of at least 10 million yuan with managed assets of 30 million yuan or more [9][10]. Group 3: Funding Support Details - Settlement rewards for newly established or relocated private equity funds vary based on the fund's structure and size, with specific percentages and maximum amounts outlined for both corporate and partnership structures [12][13][14]. - Investment rewards for venture capital funds investing in qualifying enterprises can reach up to 400,000 yuan based on the investment amount and duration [17]. - Funds exceeding 20% of paid-in capital may receive industry support funds based on their financial performance [19]. Group 4: Additional Incentives - The government will allow a portion of the after-tax returns from projects to be shared with the management team, with individual team rewards capped at 100 million yuan [22]. - Start-up investment risk subsidies are available for qualifying venture capital funds, providing up to 50,000 yuan per investment, with a maximum of 300,000 yuan per year for each fund management company [23]. - A streamlined "one-stop" service system will be established to facilitate the registration and approval processes for incoming institutions [24].