创投月报 | 9月募投双增：东久新宜35亿基础设施基金终关 汽车交通赛道融资总额近140亿

Core Insights - The private equity and venture capital fund managers registered in September 2025 saw a significant decline, with only 4 new registrations, a 20% drop from August and a 71.4% decrease compared to September 2024 [1] - The number of newly registered private equity and venture capital funds reached 557, marking an 83.8% year-on-year increase and a 51.4% month-on-month increase [1][3] - The domestic primary equity investment market experienced 686 financing events in September, reflecting a 37.8% year-on-year growth and a 21.4% month-on-month increase, with a total disclosed financing amount of approximately 443.38 billion yuan [3][6] Fund Manager Registration - In September 2025, only 4 new private equity and venture capital fund managers were registered, a 20% decrease from August and a 71.4% drop from September 2024 [1] - A total of 137 fund managers were deregistered, with nearly 30% opting for voluntary cancellation [1] Financing Events - The month saw 686 financing events, with a total disclosed financing amount of approximately 443.38 billion yuan, a 7.0% increase from September 2024 and a 26.0% increase from August 2025 [3] - The average single financing amount was approximately 64.63 million yuan, which represents a 22.3% decrease year-on-year but a slight 3.8% increase month-on-month [3] Financing Stage Distribution - Early-stage financing events (seed, angel, Pre-A, and A rounds) accounted for 69.1% of total financing events, remaining stable compared to previous months [6] - A round financing events continued to lead, comprising 36.9% of total events, with a month-on-month increase of over 6 percentage points and a year-on-year increase of 2.9% [6][9] Industry Distribution - Advanced manufacturing led with 137 financing events, with approximately 48.9% of the funded companies being in the integrated circuit sector [11] - The automotive sector saw 33 projects raising nearly 14 billion yuan, significantly higher than advanced manufacturing, with year-on-year and month-on-month growth of 134.6% and 1129.0%, respectively [11] - The artificial intelligence sector maintained a strong presence with 107 financing events, totaling 4.49 billion yuan, with the intelligent robotics sub-sector accounting for 53.3% of the events [11] Regional Distribution - Jiangsu province led with 129 financing events, followed by Zhejiang, Shanghai, and Shenzhen, each exceeding 90 events [16] - Jiangsu's financing events increased by 43.3% year-on-year and 3.2% month-on-month, with a significant increase in financing amounts compared to previous years [18] Active Investment Institutions - Notable active institutions in September included Yida Capital, Shenzhen Capital Group, and Qiji Chuangtan, with a significant portion of investments coming from state-owned entities [19][22] - The Nanjing Venture Capital Group, established in 2018, manages nearly 30 billion yuan in funds and has invested in over 1,000 projects [19] Large Financing Events - There were 10 financing events exceeding 1 billion yuan, totaling approximately 243.78 billion yuan, accounting for about 55.0% of the disclosed financing total [26] - Major financing events were concentrated in the automotive, advanced manufacturing, and artificial intelligence sectors, aligning with industry trends [26][28]