“超级LP”再出手，这四家VC拿到“国家队”的钱

Core Viewpoint - The National SME Development Fund has successfully established its seventh batch of sub-funds, totaling over 8 billion yuan, aimed at investing in hard technology and future industries for small and medium-sized enterprises (SMEs) [1][2][3]. Group 1: Fund Establishment - The seventh batch of sub-funds includes four funds with a total scale of 82.87 billion yuan, focusing on hard technology sectors [1]. - The first sub-fund, managed by Shenzhen Capital Group, has a total scale of 20 billion yuan, with the National SME Development Fund contributing 30% [1]. - The second sub-fund, Shanghai Zhongke Chuangxing, has a scale of 26.17 billion yuan, with the National SME Development Fund contributing approximately 28.66% [2]. - The third sub-fund, Dongfang Jiafu, has a scale of 16 billion yuan, focusing on advanced manufacturing and health sectors [2]. - The fourth sub-fund, Shanghai Lanchih, has a scale of 20.7 billion yuan, targeting advanced manufacturing and artificial intelligence [2]. Group 2: Investment Strategy - The National SME Development Fund aims to address long-term equity financing issues for innovative SMEs [3]. - The selection criteria for sub-funds are strict, with a maximum duration of 8 years and a minimum scale of 1 billion yuan for each sub-fund [3][4]. - The investment strategy emphasizes early-stage and innovative SMEs, with a target of investing at least 60% of the total scale in seed and growth-stage companies [3]. - There is a focus on balanced regional development, encouraging investments in SMEs located in central and western regions of China [4]. Group 3: Fund Performance - The National SME Development Fund has established over 120 billion yuan in sub-funds, with 46 sub-funds and investments in over 1,800 projects [4]. - The investment projects cover various sectors, including electronic information, chemicals, healthcare, and materials [4]. - There are discussions about establishing a second phase of the National SME Development Fund to further support the growth of specialized and innovative SMEs [4].