2 0 2 5年7月3 1日， 水木资本董事长、中国国际科技促进会母基金分会会长、母基金研究中心创 始人唐劲草 与 瑞士驻华大使白瑞谊（ Jür g Bur r i）先生 在京会面 ，双方就即将 举办 的第 四届达沃斯全球母基金峰会事宜进行了交流。 据悉， 2 0 2 6年1月2 1日，第四届达沃斯全球母基金峰会将于瑞士达沃斯举办，本届峰会由全球 母基金协会主办，母基金研究中心承办 ， 峰会行程安排将于 2 0 2 6年1月1 9日持续至2 0 2 6年1 月2 3日。本届峰会将邀请百余位全球母基金与基金行业的重量级人物共聚一堂，共同商议跨越 经济周期的奥秘，展望全球母基金行业发展的未来。 唐劲草会长向瑞士驻华大使白瑞谊（ Jür g Bur r i）先生介绍了第四届达沃斯全球母基金峰会 的 筹备 情况 ，包括会议议题、邀请 情况 及合作 情况 ，强调希望进一步深化 中国 与瑞士方 面的 交流，推动双方在技术和资本方面的深度交流与合作 。同时，唐劲草会长也对瑞士驻华 大使馆提供的 有关 瑞士科技公司信息共享的支持表达了感谢。 瑞士驻华大使白瑞谊（ J ü rg Bu rri）先生及相关负责人充分肯定峰会的重要 ...

日前，江苏常州新能源产业专项母基金、江苏常州高端功能材料产业专项母基金分别发布产业子基金管理机构遴选公告。 据悉， 江苏常州 新能源 产业专项母基金（ 有限合伙 ）（以下简称"产业专项母基金"）由江苏省战略性新兴产业母基金（以下简称"省级母基 金"）与常州市共同出资设立，规模50亿元。 公告指出：母基金投资方式包括通过设立产业子基金投资或直接投资项目，直接投资项目金额一般不超过产业专项母基金实际投资金额的30%。 产业专项母基金在产业子基金中认缴出资比例不超过产业子基金规模的30%，对单个直投项目的投资金额不超过产业专项母基金实缴出资总额的 20%。 母基金主要投资于 新能源 汽车先进制造、新型电力系统、新一代 光伏 技术、 氢能 、新型 储能 、深海深空智能装备等领域。 江苏常州高端功能材料产业专项母基金（ 有限合伙 ）（以下简称"产业专项母基金"）由江苏省战略性新兴产业母基金（以下简称"省级母基金"） 与常州市共同出资设立，规模30亿元。 该母基金主要投资于高端功能材料相关产业，包括但不限于高性能碳纤维及复合材料、纳米材料、石墨烯材料、智能仿生材料、超导材料、液态金属 等细分领域。 两只母基金存续期均为1 ...

本周资讯涉及的母基金管理规模达 1 5 4 0 亿元，主要分布在 上海、广东、江苏、浙江、福建、 云南、山西、陕西、湖北 等地区，投资 生物医药、未来新兴产业、半导体等 。以下是内容提 要和具体资讯。 【内容提要】 中国母基金行业一周资讯（ 7 . 2 6 - 8 . 1） 【资讯解读】 1、全国：1 0 0亿，这支国家级母基金二期设立 2、上海： 上海三大先导产业母基金第三批子基金遴选启动 3、浙江： 浙江省科创母基金（三期） 招 GP 4、福建： 福建省科创接力 S基金 招 GP 5、湖北： 湖北省人形机器人产业投资母基金 设立 6、湖北： 咸宁区域母基金 设立 7、云南： 云南滇中新区产业引导基金正式成立 8、山西： 两只省级政府投资母基金 落地 9、河南： 河南省股权投资基金登记成立 1 0、浙江： 东方产融新设母基金完成产品备案 11、陕西： 陕西省科技创新母基金登记成立 1 2、浙江： 宁波市天使投资引导基金拟出资 1 3、江苏： 苏州高端装备产业专项母基金拟投子基金 1 4、 江苏 ： 扬州战新专项母基金首支子基金落地 1 5、广东：广州开发区设5 0亿科创母基金 01 全国： 100亿，这支国 ...

Core Insights - The total number of newly registered private equity and venture capital funds reached 1,165 in Q2 2025, marking a year-on-year increase of 38.2% and a quarter-on-quarter increase of 20.3% [2][4] - The cumulative contribution from Limited Partners (LPs) reached 427 billion RMB, with state-owned capital dominating at 231.72 billion RMB, accounting for 54.26% of the total [9][10] Fund Overview - In Q2 2025, there were 416 newly registered private equity funds and 749 venture capital funds, with venture capital funds maintaining a dominant position [2] - The registration of funds was concentrated in Zhejiang, Jiangsu, and Guangdong provinces, indicating strong GP activity and industrial attraction in the Yangtze River Delta and Greater Bay Area [2] LP Contribution Trends - The frequency of LP contributions showed slight fluctuations in Q2 2025, with a general downward trend observed [4] - A total of 2,651 contributions were made by institutions with a contribution ratio of 1% or more, with government-guided funds and state-owned capital continuing to dominate the LP market, accounting for 52.7% of contributions [6][9] LP Contribution Distribution - The cumulative contribution from institutions with a contribution ratio of 1% or more reached 427 billion RMB, with state-owned capital leading at 231.72 billion RMB [9] - Financial institutions contributed 74.61 billion RMB, representing 17.47% of the total, while government-guided funds contributed 71.46 billion RMB, accounting for 16.73% [9][10] Active LP Analysis - State-owned capital maintained a strong position in Q2 2025, with a cumulative contribution of 231.72 billion RMB, reflecting its significant scale and stability [16] - Government-guided funds demonstrated a stable contribution pattern, with a total of 71.46 billion RMB, showcasing their role in leveraging small amounts of capital for larger investments [18] - Financial institutions contributed 74.61 billion RMB, focusing on large single contributions, indicating their professional asset allocation capabilities [19] - Private capital's participation remained low, with a total contribution of 23.89 billion RMB, highlighting the need for mechanisms to stimulate greater involvement [20]

Group 1 - The establishment of the "China International Science and Technology Promotion Association Mother Fund Branch" aims to enhance the role of mother funds in China's capital market and promote the healthy development of the investment industry, particularly the mother fund sector [1] - The total scale of the newly established merger fund and S fund in a province is 10 billion RMB, with the goal of supporting enterprise mergers and acquisitions [4][5] - The "Zhongjin Yaosheng Mother Fund" is seeking quality sub-fund management institutions, with a total scale of 5 billion RMB, focusing on strategic emerging industries [6][7] Group 2 - The "Changjiang Industry Group" has established a specialized automotive fund with a total scale of 5 billion RMB, aimed at supporting the development of specialized vehicles and components [9] - The "Henan Investment Group" and the National Local Center signed an agreement to build the first heterogeneous humanoid robot training ground in Central China, enhancing regional innovation capabilities [10][14] - "Wanhua Hongyuan" and "Zhongji Capital" are collaborating to promote the implementation of an equipment manufacturing industry fund in Xi'an, focusing on regional industrial development [15][20] Group 3 - The "Hami Municipal Government" delegation visited "Yuzhi Holdings Group" to discuss deepening industrial cooperation, showcasing the group's achievements in technology innovation and capital operation [22][25] - "Xu Jiayi" led a team to the "Guian Guokong Intelligent Computing Park" to explore cooperation paths, emphasizing the potential of the intelligent computing industry in the region [27][30] - The upcoming "Fourth Davos Global Mother Fund Summit" and the "Sixth China Mother Fund Summit" are set to take place, highlighting the growing importance of mother funds in the investment landscape [31]

Summary of Key Points Core Viewpoint - The article discusses the recent developments in China's mother fund industry, highlighting the establishment of various mother funds across different provinces, with a total management scale of 111.7 billion RMB, focusing on future industries, smart home appliances, new materials, and advanced manufacturing [1]. Group 1: Recent Developments in Mother Funds - Zhejiang has launched a 5 billion RMB mother fund that does not require local registration for GP recruitment [2]. - Sichuan has announced a 1 trillion RMB future industry fund in Chengdu [2]. - Beijing's Science and Technology Innovation Fund plans to participate in a public offering of sub-funds [2]. - Fujian has successfully established the first batch of 5 sub-funds under its specialized and innovative mother fund [2]. - Guangxi has set up a technology achievement transformation mother fund [2]. - Anhui is publicizing candidate management institutions for the Liangjiang Emerging Industry Mother Fund [2]. - Hubei's Xiaogan New Industry Investment Mother Fund is recruiting GPs [2]. - Jiangsu's Suqian Emerging Industry Mother Fund is also recruiting GPs [2]. - Guangxi has launched its first industrial venture capital mother fund [2]. - Sichuan's Borui Rongben Fund is recruiting GPs [2]. - Anhui's Tongcheng Smart Home Appliances Venture Capital Mother Fund is recruiting GPs [2]. Group 2: Specific Fund Details - The Zhongjin Yaosheng (Shaoxing Shangyu) Equity Investment Partnership has been established with a scale of 5 billion RMB, focusing on semiconductor, new materials, advanced manufacturing, medical and pharmaceutical, artificial intelligence, and new consumption industries [3][4]. - Shaoxing is positioned in the core area of the Yangtze River Delta integration, with significant infrastructure and a thriving economy, aiming to cultivate 21 listed companies by the end of 2024 [5]. - The Sichuan Future Industry Fund, managed by Chengdu Chuangxin Investment Group, has a total scale exceeding 1 trillion RMB, marking a new era for government investment funds [22][24]. - Fujian's specialized and innovative mother fund has a target scale of 2 billion RMB, with the first batch of 5 sub-funds totaling nearly 1 billion RMB [28][29]. - Guangxi's Technology Achievement Transformation Mother Fund has a total scale of 2 billion RMB, focusing on supporting seed to growth-stage technology companies [31]. - The Anhui Liangjiang Emerging Industry Mother Fund is in the process of publicizing candidate management institutions [32]. - Hubei's Xiaogan New Industry Investment Mother Fund aims to promote strategic emerging industries and high-quality development [34]. - Jiangsu's Suqian Emerging Industry Mother Fund has a scale of 2 billion RMB, focusing on strategic emerging industries [36]. - Guangxi's Industrial Venture Capital Fund has a total scale of 5 billion RMB, focusing on early-stage and growth-stage technology companies [38]. - Sichuan's Borui Rongben Fund has a total scale of 700 million RMB, supporting technology companies in various stages [39]. - Anhui's Tongcheng Smart Home Appliances Venture Capital Mother Fund focuses on investments in the smart home appliance sector [41].

7月2 4日，一场以"到成都·投未来"为主题的成都未来产业基金发布及产业对接活动，在成都举 行。现场， 重磅发布总规模超 1 0 0 0亿元的未来产业基金 ，超百家机构共同发起 "投成都"未 来产业投资联盟，同时发布一百个场景清单、一百个产品清单。 成都市财政局介绍，未来产业基金将充分发挥财政资金引导带动作用，鲜明 "产业培育者" "资 源撬动者" "赛道引领者" "生态构建者"定位， 打造 "天使+创投"基金集群 。 据悉，最新发布的未来产业基金 依托成都产投集团 "产业性基金"、交子金控集团"功能性基 金"定位，由成都科创投集团、成都金控产业引导基金公司进行管理。据悉，成都产投集团近 年来搭建起涵盖"天使+科创+产投+并购+S"的全生命周期基金投资体系，总规模超1 7 0 0亿元， 管理基金规模超8 0 0亿元，累计投资科创企业和产业化项目超千个，本次未来产业基金的设 立，将进一步做强基金投早投小投新投硬功能。成都产投集团旗下的成都科创投集团聚焦科技 创新和科技成果转化，累计投资科创企业和未来项目6 0 0个，具备全周期"操盘"能力，能够深 度参与企业从萌芽、成长、壮大到整合的每一个关键阶段 。 母基金研 ...

今年的政府工作报告中特别提到 "健全创投基金差异化监管制度，强化政策性金融支持，加快 发展创业投资、壮大耐心资本"；而后国办发布的《关于做好金融"五篇大文章"的指导意见》 中，不仅再次明确支持发展股权投资、创业投资、天使投资，也切中行业"痛点"，强调优化私 募股权和创业投资基金"募投管退"制度体系，并在退出渠道畅通方面有所安排（上市、并 购）。 5月1 4日，科技部、中国人民银行、金融监管总局、中国证监会、国家发展改革委、财政部、 国务院国资委联合发布《加快构建科技金融体制 有力支撑高水平科技自立自强的若干政策举 措》，提出发挥创业投资支持科技创新生力军作用，发挥"国家创业投资引导基金"支持科技创 新作用、鼓励发展私募股权二级市场基金（S基金）、支持创业投资和产业投资发债融资等。 当前，股权投资行业正在加强投早、投小、投长期、投硬科技，以耐心资本培育更多企业的科 技创新。 各地正在持续打造地方特色母基金模式，母基金发展进一步产业化、矩阵化。从整个母基金行 业来看，当前已经进入 3 . 0版本：从1 . 0版本的"粗放式"发展，到2 . 0版本的精耕细作，再到现 在，由单一引导基金设立转变为设立引导基金集群，打 ...

Group 1 - The establishment of the "China International Science and Technology Promotion Association Mother Fund Branch" aims to enhance the role of mother funds in China's capital market and promote the healthy development of the investment industry, particularly the mother fund sector [1][26][29] - As of June 30, 2023, the Shaanxi Provincial Government Investment Guidance Fund has reached a total scale of 1,055.38 million yuan, with investments in 315 key industry projects, including semiconductors and aviation [3][5][6] - The Shaanxi Provincial Government Investment Guidance Fund has seen a 35% increase in overall scale compared to the previous year, with a significant expansion of national-level fund participation [6][7] Group 2 - The Jiangsu Province Government and China Chengtong signed a framework cooperation agreement to establish the 100 million yuan Chengtong Science and Technology Innovation Fund [10] - China Insurance Investment Company has invested 1 billion yuan in Huadian New Energy, becoming the largest investor in the company's IPO strategic placement [11][12] - Taikang Asset held a strategic seminar focusing on AI to enhance asset management capabilities and adapt to market trends [13][14] Group 3 - The Hunan Province Jin Fuyuan Investment Fund policy promotion and investment matching conference successfully attracted various stakeholders to discuss investment opportunities [24][25] - The conference highlighted the importance of integrating government, industry, academia, and finance to support the development of the Jin Fuyuan Investment Fund [25]

Group 1 - The Hong Kong Stock Exchange (HKEX) announced the appointment of a new listing committee for the Main Board and GEM on July 4, 2025 [1] - Mr. Fang Yuan has been appointed as a member of the listing committee, marking him as the first member from the fund of funds industry [1] Group 2 - The "2025 Investment Institutions Soft Power Ranking" evaluation has been launched [3] - The "2025 Fund of Funds Annual Forum" is set to commence, gathering significant Chinese influence [3] - There is a growing trend among listed companies to engage in merger and acquisition funds this year [3]