Core Viewpoint - The 2025 Sixth China Fund of Funds Summit highlighted the importance of angel funds in selecting and empowering General Partners (GPs) to enhance investment efficiency and foster growth in early-stage companies [1][2]. Group 1: Finding Suitable GPs - The primary task of angel funds is to identify suitable GPs, with emphasis on the importance of "people" in early-stage investments [5]. - Key support targets include scientists with entrepreneurial potential, entrepreneurs with a scientific mindset, and investors capable of translating cutting-edge science [5]. - A quantitative screening model is proposed to evaluate GPs based on project quality, fundraising ability, and local industry understanding, rather than solely on reputation [5][6]. Group 2: Empowering Sub-Funds - Angel funds are transitioning from being purely financial investors to becoming platform-oriented, providing not just capital but also support for GPs and portfolio companies [7]. - Empowerment principles include enhancing project supply and efficiency, with examples from Suzhou's investment strategies that leverage local resources for project matching [7]. - Collaborative ecosystems are emphasized, where angel funds facilitate connections between GPs and various resources, including administrative support for talent and project development [8]. Group 3: Positioning the Relationship Between Funds and GPs - The relationship between mother funds and sub-funds is characterized as a cooperative partnership, focusing on mutual information exchange and resource flow [9]. - The evolving dynamic is described as a "community of fate," where both parties share risks and long-term returns [9]. - The ideal relationship is one of strategic collaboration, where mother funds provide long-term capital and cross-disciplinary resources, while GPs offer specialized insights and execution capabilities [9].