全面回暖！创投“硬科技”赛道退出回报亮眼，中长期资金加速入场

Core Insights - The article discusses the development trends of venture capital institutions in Shenzhen over the past year, particularly focusing on the impact of the new "National Nine Articles" implemented in 2024 on the fundraising, investment, and exit cycles of private equity and venture capital [1][2]. Group 1: Investment Trends - Shenzhen's private equity and venture capital funds have shown a significant increase in investments in "hard technology" sectors, with notable growth in aerospace and defense (up 25.46%), semiconductors (up 12.17%), and biotechnology (up 6.46%) [1][7]. - The total number of projects in the "hard technology" category has reached 10,900, representing a year-on-year increase of 5.71%, with a three-year average annual growth rate of 11.14% [7]. Group 2: Exit Performance - The number of exit projects for Shenzhen's private equity and venture capital funds reached 1,954 in 2024, marking a new three-year high and a year-on-year increase of 96.42% [2]. - The actual exit amount for 2024 was 588.31 billion yuan, reflecting a growth of 70.28% compared to 2023 [2]. - Public market exits have also seen significant growth, with 331 projects exiting through this channel, a nearly 90% increase, and an actual exit amount of 222.41 billion yuan, up 104.50% [2][3]. Group 3: Funding Sources - The participation of long-term funds in Shenzhen's private equity and venture capital sector has increased, with the number of long-term fund investors rising by 16.74% to 2,381.06 billion yuan in 2024 [4]. - The number of guiding fund investors increased by 24.32% to 624, with a total investment of 909.47 billion yuan, a year-on-year growth of 14.11% [4]. Group 4: Fund Management Growth - As of the end of 2024, there were 801 private equity and venture capital fund managers in Shenzhen, managing a total of 3,429 funds with a combined scale of 4,103.42 billion yuan, representing a year-on-year growth of 4.13% in fund numbers and 1.13% in scale [6]. - The number of private equity and venture capital funds has increased by 165% since the end of 2018, with an average annual growth rate of 24.09% [6].