锡创投：“耐心资本”的新解法

Core Viewpoint - Wuxi Innovation Investment Group (referred to as "Xichuangtou") is leveraging a unique "patient capital" approach to drive industrial upgrades in the hard technology sector, balancing strategic missions with market returns [1] Group 1: Strategic Role and Investment Approach - Xichuangtou defines its role as a "three-dimensional integration," focusing on strategic guidance, strengthening local industrial chains, and empowering ecosystems by integrating policies, scenarios, technologies, and talent resources [1] - The company employs a "classification and combination management" strategy to address the dual demands of high-risk hard technology investments and the preservation and appreciation of state assets [2] - Xichuangtou manages overall risk through an "olive-shaped" portfolio, investing in high-risk early-stage projects and high-certainty late-stage projects while focusing on growth-stage projects in between [2] Group 2: Investment Achievements and Future Plans - As of 2025, Xichuangtou aims to manage a cumulative scale of 287 billion yuan, with total investments exceeding 130 billion yuan, having invested in over 800 local projects since the 14th Five-Year Plan [3] - The company emphasizes "deep localization" in its investment strategy, aligning investment decisions closely with local industrial chain needs, and aims to support hard technology with "patient capital" to effectively reduce innovation risks [3] - Looking ahead to the 15th Five-Year Plan, Xichuangtou plans to strategically develop S funds to revitalize existing assets and optimize capital structures, while focusing on AI and integrated circuits, as well as biomedicine sectors for future investments [3]