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杭州市上城区高质量发展产业基金管理暂行办法
Sou Hu Cai Jing·2025-06-04 07:59

Overall Requirements - The Hangzhou Shangcheng District High-Quality Development Industry Fund is established by the district government to support key industry development and innovation through market-oriented operations [3][4] - The fund aims to play a leading role in regional strategy, industrial upgrading, and promoting innovation and entrepreneurship [3] Fund Classification - The fund is categorized into venture capital funds and industrial investment funds, with a minimum scale of 30 billion and 70 billion respectively [4] - Venture capital funds focus on early-stage projects in strategic emerging industries such as information technology and artificial intelligence [4] - Industrial investment funds target mature projects and regional key projects to promote coordinated economic development [4] Management Structure - The fund management structure includes a management committee led by the district mayor and various government departments [5][6] - The committee is responsible for defining investment directions, decision-making on major issues, and overseeing fund operations [6] Investment Management Procedures - The investment management process includes project initiation, due diligence, investment decision-making, and project implementation [7][11] - Projects can be recommended by various departments, and decisions on project initiation are made within five working days [7][11] Investment Models and Contribution Ratios - The fund can adopt a combination of mother funds, sub-funds, and direct investment models, with direct investments not exceeding 40% of the total [12] - Contribution ratios for venture capital and industrial investment funds are capped at 40% and 30% of the sub-fund's subscribed capital respectively [12] Performance Management - A performance evaluation mechanism will be established to assess fund operations and management annually [18][19] - Evaluation criteria will include national asset function, fund operation, financial returns, and post-investment management [19][20][21] Fund Exit - Investment projects must specify exit conditions and methods in their agreements, with options for early exit under certain circumstances [24][25] - The typical duration for venture capital funds is not to exceed 10 years, while industrial investment funds should not exceed 8 years [25] Reporting and Information Disclosure - The fund management company is required to report on investment management and project progress quarterly and annually [30][31] - Any significant issues with invested companies must be reported within seven working days of discovery [30]