Venture(US:VEMLY) Yang Guang Wang·2025-12-27 01:58Core Insights - The National Venture Capital Guiding Fund has officially commenced operations, aiming to attract participation from various stakeholders including local governments, central enterprises, financial institutions, and private capital, with an expected leverage of trillions in social capital [1][2] Group 1: Fund Structure and Objectives - The fund features a three-tier structure comprising "fund company - regional fund - sub-fund," effectively utilizing central funds to attract social capital incrementally [1] - The guiding principles of the fund emphasize early, small, long-term investments in hard technology sectors [1] Group 2: Investment Focus and Duration - The guiding fund targets seed-stage, early-stage, and mid-stage enterprises, focusing on supporting companies in cutting-edge fields to conduct original and disruptive technological research [2] - The fund is designed with a 20-year lifespan, including a 10-year investment period and a 10-year exit period, providing long-term financial support to enterprises [2]