SZAP(SZ:000061) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-26 13:53Core Insights - The National Venture Capital Guidance Fund has been officially launched, with three regional sub-funds registered in Beijing, Shanghai, and Shenzhen, aiming to support early-stage and innovative enterprises [1][3] Group 1: Fund Overview - The Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund has a target size of 50.45 billion yuan and a maximum duration of 20 years, managed by Shenzhen Capital Group [1][3] - The fund focuses on early-stage investments, particularly in seed and startup companies, to support technological innovation and transformation [3] Group 2: Investment Strategy - The fund emphasizes a long-term investment approach with a 10-year investment period and a 10-year exit period, allowing for patient capital to support the growth of technology enterprises [3] - The Guangdong-Hong Kong-Macao Fund will adopt a dual approach of "sub-funds + direct investment," targeting strategic emerging industries and future sectors [3] Group 3: Regional Impact - The fund's establishment aligns with the innovation and entrepreneurship policies of Nanshan District, which has over 5,500 national high-tech enterprises and aims to enhance the local innovation ecosystem [4] - Nanshan District has invested 3 billion yuan in the fund, marking its largest participation in a national-level guidance fund, which is expected to accelerate technological breakthroughs and result in significant regional development [4]