SCS(SH:601555) 母基金研究中心·2025-09-26 12:03Core Viewpoint - The 2025 China Fund of Funds Conference highlighted the evolving landscape of the fund industry, emphasizing the need for innovative strategies and collaboration to navigate challenges in fundraising and investment exits [6][31]. Group 1: Conference Overview - The conference took place on September 26, 2025, in Suzhou Wujiang, organized by the Fund of Funds Research Center, attracting over 200 representatives from government, industry associations, and leading investment institutions [1]. - The event featured significant discussions on optimizing the private equity fund ecosystem and enhancing the synergy between capital and industry [4][9]. Group 2: Keynote Speeches - Gu Haidong, the Executive Vice Mayor of Suzhou, emphasized the city's commitment to enhancing the private equity fund ecosystem and fostering capital-innovation synergy [4]. - Tang Jincao, founder of the Fund of Funds Research Center, called for the development of "reassuring capital" that balances risk tolerance and long-term investment characteristics [6][7]. - The conference showcased Suzhou's robust capital ecosystem, with strong performance in fund establishment, financing events, and IPOs in the first half of 2025 [7]. Group 3: Investment Opportunities - Wujiang has established itself as a favored investment destination, with over 540 equity investment funds totaling more than 2,300 billion yuan, focusing on high-end equipment and emerging industries [9]. - The signing of several key agreements during the conference marked a significant milestone for the Suzhou Bay Venture Capital One, attracting top investment institutions and enhancing its capital base [12][14]. Group 4: Sub-Fund Initiatives - The conference included the establishment of seven specialized sub-funds focusing on strategic emerging industries, with a total scale exceeding 6.5 billion yuan [14]. - This initiative aims to leverage state capital to attract more social capital into technology innovation [14]. Group 5: Collaborative Plans - A collaborative plan was initiated to build a co-creation ecosystem around the Suzhou Bay Venture Capital One, focusing on project co-investment and resource sharing [15]. - The plan aims to break down information barriers and promote efficient matching of capital, technology, and talent [15]. Group 6: Expert Insights - Zhao Yan, from Tsinghua University, shared insights on the university's successful technology transfer practices, highlighting over 70 major achievements and attracting more than 27 billion yuan in social capital [16]. - Li Shilin compared the venture capital tax systems of China, the US, and the UK, suggesting the need for a specialized tax regime to encourage long-term investment in technology innovation [18]. - Jiang Mingming discussed the growth of secondary markets for private equity, indicating a shift towards a necessity for liquidity in the current investment landscape [21]. Group 7: Roundtable Discussions - Multiple roundtable discussions were held, focusing on collaboration between national and local funds, capturing investment opportunities in the Yangtze River Delta, and the role of mother funds in regional integration [24][26][28]. - These discussions aimed to explore strategies for optimizing fund layouts and enhancing support for hard technology and future industries [28].