"十五五"规划建议明确提出发展创业投资，建立未来产业投入增长和风险分担机制。随着创投资本不断 发展壮大、科创板制度持续完善、金融市场结构逐步优化，继摩尔线程、沐曦股份之后，料将有更多硬 科技企业借力资本与制度的双重赋能，在全球产业链重构的浪潮中抢占核心位置。 （文章来源：证券时报网） GPU研发堪称高投入、长周期、高风险的攻坚赛道，每一步突破都离不开金融资本的赋能与陪伴。两家 企业成立仅一年便合计完成了9次近23亿元增资，背后是"国资平台+市场化创投+产业CVC"多元资本的 协同发力：深创投、国调基金、上海科创基金等国资平台发挥"压舱石"作用，以稳定资金支持夯实发展 基础；善达投资、红杉中国、真格基金等市场化机构凭借专业洞察精准布局，为企业早期成长注入强劲 动能；腾讯、和而泰等产业CVC联动，加速产业资源高效对接。摩尔线程的成长轨迹尤为典型：5年 来，超80家机构累计注入94.98亿元，使其得以投入46.7亿元研发资金攻克全功能GPU量产难关。这一过 程，既印证了多元创投资本在分担创新风险、加速技术转化中的核心价值，更彰显了一级市场对硬科技 领域的坚定支持。 科创板的制度创新，正持续拓宽硬科技企业的成长通道。 ...

Group 1: Capital Empowerment for Innovation - The core theme of the event was "Capital Empowering the Future of Innovation," focusing on connecting quality projects with funding and attracting external capital to support the modernization of the industrial system in Shenyang [1] - Experts emphasized the importance of venture capital in identifying high-growth opportunities amidst uncertainty, with a call for precise matching, patient support, and policy backing for early-stage tech projects [3][4] Group 2: Public REITs as a Tool for Asset Activation - Public REITs are emerging as innovative financial tools to inject liquidity into local economies, with Shenyang being the first city in Northeast China to apply for public REITs [5] - The successful issuance of REITs requires collaboration among government, institutions, and enterprises, highlighting the importance of asset management and compliance in the process [6] Group 3: Private Equity Funds for Industrial Integration - Private equity funds are transitioning from traditional financial investments to actively facilitating industrial integration, which can revitalize traditional and underperforming enterprises through mergers and acquisitions [7] - The integration process should focus on market-driven resource allocation and enhancing management capabilities to foster new growth in industries like semiconductors and new materials [8]