来源：德阳日报 对接需求请扫码 德阳产业引导基金的设立，正值全市全力推进现代化产业体系建设之际。德阳区位优势明显，交通衔接高效，融入成渝"双圈"；同时，智造产业基础 雄厚，创新平台和人才资源集聚，营商环境持续优化，为资本投资和产业发展提供了良好条件。 在基金运作过程中，该局和德阳投控不仅将发挥投资方向"规划者"的作用，还将为基金和企业提供政策咨询、落地协调等全方位服务，持续优化营商 环境，保障企业在德阳发展壮大。 "资本是产业的血液，创新是发展的引擎。"该局相关负责人表示，产业引导基金的正式启航，将为德阳高质量发展注入强劲新动能，开启"聚势赋 能、共赢未来"的新篇章。 近日，德阳投控产业投资引导基金已通过中国证券投资基金业协会备案，标志着该基金正式具备全部运营资质，即将为德阳产业发展注新的金融动 能。 据德阳 市经合局 介绍，该基金将构建"1+2+N"基金集群架构，立足德阳产业比较优势，重点聚焦做强、做优、做大"3+1"主导产业和"8链9群"细分 领域，通过股权投资推动传统产业升级与新兴产业崛起。 每日｜荐读 论坛： 2025母基金年度论坛圆满举办：内地携手香港，共话科创时代中国力量 荐读： 重新发现香港：科 ...

Core Viewpoint - The establishment of the Zhejiang Province Industrial Structure Adjustment Fund, with a scale of 3 billion yuan, aims to enhance the modernization of the industrial system in Zhejiang Province and promote the optimization and upgrading of the industrial structure [1][2]. Group 1 - The fund will inject strong momentum into the construction of a modern industrial system in Zhejiang, facilitating the optimization of state-owned capital layout and promoting industrial transformation and upgrading [1][2]. - The investment scope of the fund includes strategic emerging industries such as new generation information technology, artificial intelligence and the Internet of Things, new energy vehicle industry chain, new materials, and life health [1]. - The fund aligns with Zhejiang's key industrial development directions, including the "415X" manufacturing cluster and the "315" innovation system, providing precise capital support for industrial development [1][2]. Group 2 - The fund's launch is significant for the industrial development of Xiaoshan Economic and Technological Development Zone and the entire Zhejiang Province, promoting the upgrade and structural adjustment of industries [2]. - It will facilitate the transformation of traditional industries towards high-end, intelligent, and green development, while nurturing emerging industrial clusters to enhance industrial added value and core competitiveness [2]. - The fund will also assist in optimizing the layout of state-owned capital, guiding it towards strategic emerging industries and key areas, thereby improving the efficiency of capital allocation and operational effectiveness [2].

Core Viewpoint - The fundamental rules of the primary market are undergoing significant changes, with mergers and acquisitions (M&A) becoming a core competency that general partners (GPs) must master to achieve value reconstruction in industries rather than merely capital arbitrage [2][4]. Group 1: Evolution of Private Equity Investment - The U.S. private equity market has evolved through a clear trajectory characterized by "a century of evolution and four stages of leap," starting from the late 19th century with industrial investments [6]. - The development of the U.S. M&A market has synchronized with private equity, showcasing five distinct waves that have reshaped the industrial landscape [7][8]. - The current phase of private equity in the U.S. is driven by technological innovation, particularly in emerging fields like AI and digital transformation [6][8]. Group 2: China's Private Equity Investment Phases - The 1.0 era (2000-2015) was marked by internet-driven model innovation, where investment opportunities were abundant, and the requirements for investment institutions were relatively low [10]. - The 2.0 era (2015-2025) signifies a shift towards technology innovation, with hard technology becoming a focal point for investment, supported by national policies [11][12]. - The 3.0 era (2025-2035) indicates a trend towards industry consolidation through M&A, driven by increasing exit pressures and government encouragement, with M&A activity in China seeing over 50% year-on-year growth in the first half of 2025 [13]. Group 3: Strategic Focus of Haisheng Capital - Haisheng Capital has recognized structural changes in the industry and elevated M&A to a core strategic level, leveraging its unique advantages accumulated in the hard technology sector [15]. - The firm has built a mature ecosystem in key hard technology areas, enabling it to provide substantial resources and support to acquired companies [16]. - The success of M&A is attributed not only to selecting the right targets but also to effective management post-acquisition, with a team that possesses deep industry backgrounds [18]. Group 4: Timing and Focus in Investment - Haisheng Capital has demonstrated a keen ability to identify investment opportunities at critical market junctures, allowing it to capitalize on undervalued companies during cyclical fluctuations [19]. - The firm maintains a clear strategic focus on advanced technology, green technology, and life sciences, ensuring that it targets sectors with long-term value [20]. - The overarching philosophy of Haisheng Capital emphasizes that M&A is not merely about capital gains but is a vital engine for optimizing and upgrading industrial structures [20][21].

Group 1 - The core viewpoint of the article is the public selection process for the general partner of the Taizhou M&A Mother Fund, which has a total scale of 5 billion yuan and an initial partnership size of 1.01 billion yuan [2] - The fund aims to provide professional empowerment in the M&A field, with a total of 2 general partners, each contributing 5 million yuan [2] - The fund is managed by Taizhou Jin控 Fund Management Co., a subsidiary of the Taizhou Science and Technology Innovation Group, which was established to support major industries and strategic emerging industries [2] Group 2 - Taizhou Science and Technology Innovation Group was formed by the merger of Taizhou Jin Investment Group and Taizhou Talent Group, with a registered capital of 6 billion yuan and total assets exceeding 20 billion yuan [2] - The group focuses on serving the development of major industries and strategic emerging industries, aiming to become a leading science and technology investment enterprise in Taizhou [2]

编者按： 2025年9月6日， 「2025母基金年度论坛暨第六届鹭江创投论坛」 ——香港投资专场在厦门国际会议中心酒店圆满举办。来自香港政府及 投资界代表，以及政府引导基金、市场化母基金、金融机构、产业资本、知名GP、CVC、企业家，共计一千余位重要嘉宾齐聚厦门。 在香港投资专场现场，香港贸易发展局中国内地总代表钟永喜，璟承联合家族办公室主席刘畅，香港证券商协会永远名誉会长、实德环球集团副主席 陈柏楠，年利达律师事务所 Linklaters LLP 合伙人李家栋，星界资本创始管理合伙人、香港联交所上市委员会成员方远，胜利证券投资总监、胜利 私募证券投资基金总经理李宁，溢倡（上海）管理有限公司董事长曹志欣，竞天公诚律所合伙人王鑫主持，晨壹基金合伙人章童，老鹰基金创始合伙 人、天使联合汇主席刘小鹰，腾云香港科创集群加速器总经理耿春亚，海盈金控主席黄瑞，博原资本合伙人丁浩，孚腾资本孚腾国际（香港）总经理 张森森等多位嘉宾共同围绕全球经济发展与科技变革背景下，中国资本助力科技创新与培育新质生产力等关键议题展开深入交流，探讨香港资本市场 的崛起逻辑、不断改革的创新制度及未来发展面临的最大挑战等话题。 母基金周刊(FOF ...

9月5-6日， 「2025母基金年度论坛暨第六届鹭江创投论坛」 在厦门国际会议中心酒店圆满举办。本届论坛由母基金周刊（FOFWEEKLY）主 办、建发集团与金圆集团战略指导，论坛以"科创时代的中国力量"为核心议题，设置了两天主论坛、两场平行论坛和多场闭门交流会 以及 香港投资 专场。 《艾问iAsk》创始人、全国三八红旗手艾诚担任本次论坛主持人。来自政府引导基金、市场化母基金、金融机构、产业资本、 知名GP、CVC、企业 家以及香港政府及投资界代表，共计一千余位重要嘉宾齐聚厦门 ，共同围绕全球经济发展与科技变革背景下，中国资本助力科技创新与培育新质生 产力等关键议题展开深入交流，凝聚共识，为推动创投生态健康发展注入新动力。 金圆集团党委书记、董事长李云祥在论坛开幕环节致辞。 母基金周刊创始合伙人、CEO张予豪在致辞中表示：本届论坛以"中国力量"为主题，旨在凝聚行业独特优势，助力国家战略实施与复兴进程，并对 论坛各支持方致以感谢。 全国社保基金理事会原副理事长陈文辉发表《抓住时代机遇，推动创投基金高质量发展》的主旨演讲。陈文辉指出，需以政策为引导、以耐心资本为 支撑，推动创投基金服务科技创新与产业升级，助力经济 ...

Core Viewpoint - The year 2025 is anticipated to be a "new birth" year for the equity investment industry, marking a critical point in the structural recovery of the market [1]. Group 1: Market Dynamics - The Chinese hard technology sector is experiencing a rapid transformation in global competitiveness and asset value, driven by policy benefits and technological breakthroughs, which are central to the recovery of the primary market [2]. - Since the beginning of the year, there has been a significant rebound in the activity of the venture capital industry, with new opportunities emerging in the M&A market [2]. - Emerging sectors such as artificial intelligence, robotics, and low-altitude economy are at the forefront of investment, igniting confidence in the primary market [2]. Group 2: Investment Strategies - Investment institutions face a profound restructuring of the industrial environment and competitive landscape due to the rise of a new generation of technological revolutions globally [2]. - Finding new development paradigms within previously successful paths is a core issue for investment institutions, alongside the necessity for clearer investment strategies and efficient exit capabilities [2]. - The soft power of investment institutions is becoming a crucial element in adapting to market changes and building new competitive advantages [2]. Group 3: Rankings and Recognition - The "2025 Soft Power Ranking of Investment Institutions" was officially released on September 6 [3]. - The rankings include various categories such as LP (Limited Partners), GP (General Partners), and others, highlighting the most active and influential players in the investment landscape [5][59].

Core Viewpoint - The investment community is increasingly focused on Xiamen, driven by its continuous investment in the venture capital ecosystem, institutional innovation, and an improved business environment, attracting both general partners (GPs) and limited partners (LPs) [6][10]. Group 1: Investment Environment - Xiamen has become a key destination for investors, with a notable increase in the number of active LPs and a friendly fundraising environment for GPs [7][10]. - The region's LPs are among the few willing to invest in the consumer sector, and there is a significant "linkage effect" among Xiamen's LP community [7][10]. - Xiamen's fund registration scale and LP activity have been steadily increasing, making it a preferred choice for many GPs [7][10]. Group 2: Economic Transformation - Historically reliant on manufacturing and tourism, Xiamen is now emerging in strategic new industries such as renewable energy, hard technology, digital economy, and high-end manufacturing [9]. - The successful mass production of the world's first 587Ah energy storage battery by Xiamen's Haichen Storage marks a significant milestone in the energy storage industry [9]. - Xiamen leads the province with 99 companies recognized as "unicorns," "future unicorns," or "gazelles," highlighting its innovation capabilities [9]. Group 3: Policy Support - The Fujian provincial government has implemented measures to enhance capital market services for technology enterprises, including a 10 billion yuan provincial merger fund and a 10 billion yuan provincial S fund to support quality tech companies [10][11]. - The government is also focusing on optimizing the management of venture capital funds and promoting market-oriented approaches to improve the efficiency of fiscal fund allocation [11]. - Xiamen's "拨改投" policy and cross-strait integration funds have been identified as key drivers of its fundraising success [12]. Group 4: Upcoming Events - The "2025 Mother Fund Annual Forum and the Sixth Lujing Venture Capital Forum" is set to convene, bringing together various stakeholders to explore the multiplier effect of combining long-term capital, industrial capital, and innovative capital [15].

Core Viewpoint - The speech commemorates the significant contributions of the Chinese people in the fight against fascism and their sacrifices for world peace and human civilization [4][10]. Group 1: Historical Context - The Chinese people made immense sacrifices during the Anti-Japanese War to save human civilization and protect world peace [4]. - The speech emphasizes the importance of remembering history to prevent the repetition of past tragedies [5][6]. Group 2: National Defense and Military Role - The Chinese People's Liberation Army is portrayed as a trustworthy force for the party and the people, committed to national sovereignty and territorial integrity [12][13]. - The military is urged to accelerate the construction of a world-class army to support the great rejuvenation of the Chinese nation and contribute to global peace and development [13]. Group 3: International Cooperation - The speech calls for collaboration with other nations to build a community with a shared future for mankind, highlighting China's commitment to peace and progress [10][11].

Core Viewpoint - The "2025 Mother Fund Annual Forum and the 6th Lujing Venture Capital Forum" will be held in Xiamen on September 5-6, 2025, focusing on leveraging mother funds to activate the multiplier effect of "long-term capital + industrial capital + innovative capital" to drive high-quality development in China and lead global industrial transformation [1]. Organizers and Event Details - The forum is organized by FOFWEEKLY, with strategic guidance from Jianfa Group and Jinyuan Group [3]. - The event will take place at the Xiamen International Conference Center Hotel on September 5-6, 2025 [3]. Main Forum Agenda (September 5) - The forum will feature a series of keynote speeches and roundtable discussions aimed at exploring the responsibilities and opportunities for Chinese innovation and investment [7][10]. - Keynote speakers include prominent figures such as Chen Wenhui, former Vice Chairman of the National Social Security Fund Council, and Dan Junbao, Chairman of China International Capital Corporation [9][10]. Keynote Speeches and Roundtable Discussions - Topics will cover high-quality development of venture capital funds, evolution of private equity and mother funds in China, and the advantages of long-term capital in promoting equity investment [9][10]. - Roundtable discussions will address the responsibilities of China's scientific and technological innovation, the relationship between domestic and international investments, and the challenges faced by "patient capital" and "bold capital" [10][12]. Additional Sessions - The second day will include discussions on the investment landscape in Hong Kong, the evolution of mother funds, and the impact of AI on entrepreneurship [15][18]. - The forum will also feature a signing ceremony for strategic cooperation between mainland and Hong Kong entities [15]. Networking Opportunities - The event will provide networking opportunities through lunch sessions and dedicated meetings for LPs and GPs [17][22]. - A parallel forum on angel investment will explore innovative paths in the new era of investment [22]. Conclusion - The forum aims to gather insights and foster collaboration among industry leaders to enhance the investment ecosystem in China and beyond, emphasizing the importance of innovation and strategic partnerships [1][3].