Venture(US:VEMLY) Xin Hua Cai Jing·2025-12-26 07:04Core Viewpoint - The National Development and Reform Commission announced the establishment of three regional venture capital guiding funds, each with a total scale exceeding 50 billion yuan, aimed at promoting innovation and supporting emerging industries in China [1][2]. Group 1: Fund Structure and Management - The national venture capital guiding fund is structured in a "fund company - regional fund - sub-fund" three-tier architecture [1]. - The Beijing-Tianjin-Hebei venture capital guiding fund will be managed by China Investment Corporation's subsidiary, China International Capital Corporation [1]. - The Yangtze River Delta venture capital guiding fund will be managed by the National Investment Group's subsidiary, Guotou Chuanghe [1]. - The Guangdong-Hong Kong-Macau Greater Bay Area venture capital guiding fund will be managed by Shenzhen Capital Group [1]. Group 2: Regional Fund Objectives - The Beijing-Tianjin-Hebei fund aims to mobilize central financial enterprises and enhance the role of banks, insurance, and securities in supporting technological finance [1]. - The Yangtze River Delta fund is expected to act as a driving force for high-quality development, gathering various social capital to empower regional sci-tech enterprises [1]. - The Greater Bay Area fund will leverage Shenzhen's role as a reform and opening-up hub, encouraging diverse market participants to engage [1]. Group 3: Investment Plans - The first three regional funds are ready to commence operations, having signed investment intentions with 49 sub-funds and 27 direct investment projects [2]. - The guiding fund aims to establish over 600 sub-funds across the three regions to support the development of emerging and future industries [2].