山东发文！到2027年全省创投基金“投早投小投硬科技”比例超80％

Core Viewpoint - The Shandong Provincial Government has issued an action plan to promote high-quality development of venture capital, aiming for an annual growth of over 10% in venture investment by the end of 2027, with a management scale exceeding 400 billion yuan and a focus on early-stage investments in hard technology [1][4]. Group 1: Overall Requirements - The plan aims to enhance long-term capital support for economic and social development, with a target of over 80% of venture capital funds focusing on early, small, and hard technology investments, and over 90% penetration of equity investment into enterprise listings by 2027 [4][5]. Group 2: Long-term Capital Cultivation Actions - The initiative includes attracting well-known venture capital institutions to establish regional headquarters in Shandong and enhancing the management capabilities of local venture capital institutions [5][6]. - It encourages various financial entities, including insurance funds and commercial banks, to establish or invest in venture capital funds in the province [5][6]. Group 3: Venture Capital Promotion Actions - The plan emphasizes early and small investments in original and leading technology innovation fields, establishing risk compensation mechanisms for seed and early-stage enterprises [2][6]. - It aims to create a multi-level service mechanism for venture capital projects, enhancing project roadshow activities and resource matching [6][7]. Group 4: Government Investment Fund Management Enhancement Actions - The action plan seeks to optimize the layout of government funds and enhance the effectiveness of government investment in venture capital funds [7][8]. - It proposes a differentiated assessment system for state-owned venture capital, focusing on the functional role rather than just financial returns [8][9]. Group 5: Exit Channel Expansion Actions - The plan aims to facilitate domestic and international listing channels for enterprises, particularly focusing on high-quality technology companies [8][9]. - It encourages mergers and acquisitions among listed companies and establishes a platform for M&A matching [8][9]. Group 6: Venture Capital Environment Optimization Actions - The initiative includes optimizing market access for private equity and venture capital, enhancing the efficiency of registration and operation processes [9][10]. - It emphasizes the development of a professional talent pool in venture capital, supporting high-end talent recruitment and training [9][10].