Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-26 04:20Core Viewpoint - The National Venture Capital Guidance Fund has completed its registration and management system, establishing a three-tier structure of "fund company - regional fund - sub-fund" to enhance investment capabilities and support emerging industries [1][3]. Group 1: Fund Structure and Registration - The National Venture Capital Guidance Fund has finalized its registration and management framework [1][3]. - Three regional funds, namely the Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area venture capital guidance funds, have also completed their registration, with each fund expected to exceed a total scale of 50 billion yuan [1][3]. Group 2: Management Teams and Regional Focus - The Beijing-Tianjin-Hebei fund is managed by China Investment Corporation's subsidiary, Zhongjin Capital, focusing on mobilizing central financial enterprises and enhancing technology finance [4]. - The Yangtze River Delta fund is managed by State Investment Group's subsidiary, Guotou Chuanghe, aiming to gather various social capital to empower regional technology enterprises [4]. - The Guangdong-Hong Kong-Macao Greater Bay Area fund is managed by Shenzhen Capital Group, leveraging Shenzhen's role as a reform and opening-up hub to encourage diverse market participants [4]. Group 3: Investment Plans and Future Goals - The first three regional funds are ready for operation, having signed investment intentions with 49 sub-funds and 27 direct investment projects [4]. - The guidance fund aims to establish over 600 sub-funds across the three regions to support the development of emerging and future industries [4].