启明创投拟控股天迈科技 创投机构布局二级市场打法有变？

Group 1 - The core viewpoint of the articles highlights the shift in behavior of venture capital institutions from behind the scenes to actively participating in the secondary market, exemplified by Qiming Venture Partners' acquisition of Tianmai Technology [1][2] - Qiming Venture Partners plans to acquire a 26.10% stake in Tianmai Technology, making it the largest shareholder, with the transaction valued at 4.52 billion yuan [3][4] - The acquisition is seen as a strategic move to alleviate the exit difficulties faced by invested projects and to leverage the public company platform for fundraising [2][5] Group 2 - Tianmai Technology's main business focuses on providing comprehensive solutions for smart urban transportation, with a significant decline in revenue and net profit reported for the first three quarters of 2024 [4][6] - The "Merger Six Guidelines" introduced by the policy in September 2024 support private equity funds in acquiring public companies to promote industrial integration [5][6] - The development of merger funds in China is still in its early stages, with expectations for increased activity in direct acquisitions of public companies by venture capital institutions [6][7]