Core Insights - The private equity and venture capital industry in Shenzhen plays a crucial role in promoting technological innovation, driving industrial upgrades, and fostering new economic growth points [1] - The industry has shown significant progress in fundraising, investment, and exit strategies, reflecting a positive development trend [4][20] Fundraising - By the end of 2024, there were 17,110 institutional investors in Shenzhen's private equity and venture capital funds, with a total contribution of 835.86 billion yuan, representing year-on-year growth of 0.76% and 0.41% respectively [6] - The number of long-term capital investors, including government funds, pension funds, and insurance funds, increased by 16.74% year-on-year, with a total contribution of 238.11 billion yuan [6] - The number of guiding funds increased significantly, with 624 investors contributing 90.95 billion yuan, marking a year-on-year growth of 24.32% and 14.11% respectively [6] Investment - As of the end of 2024, the private equity and venture capital funds invested in 9,462 seed and startup projects, a year-on-year increase of 4.28%, accounting for 46.36% of total investments [11] - Investment in small and medium-sized enterprises reached 13,732 projects, with a year-on-year growth of 3.87%, while investments in initial technology enterprises grew significantly, with 5,678 projects and a total investment of 98.758 billion yuan [11] - The focus on "hard technology" has led to investments in 10,899 high-tech projects, a year-on-year increase of 5.71%, with significant growth in aerospace, semiconductors, and biotechnology sectors [12] Exit Strategies - In 2024, the number of exit projects reached 1,954, a record high with a year-on-year growth of 96.42%, and the actual exit amount was 58.831 billion yuan, up 70.28% [16] - The primary exit channels were through agreement transfers and company buybacks, with 1,369 projects completed, yielding an exit amount of 33.836 billion yuan [16] - Public market exits also saw strong growth, with 331 projects and an exit amount of 22.241 billion yuan, marking increases of 89.14% and 104.50% respectively [16] Market Trends - The concentration of resources is accelerating towards large institutions, with the top 10% of institutions managing approximately 74% of the total private equity and venture capital fund size [7] - The industry is gradually maturing, with a focus on optimizing the funding structure and enhancing the confidence in Shenzhen's venture capital ecosystem [7][20] - The private equity and venture capital industry is expected to play a larger role in nurturing new productive forces and driving technological innovation and industrial upgrades in the future [20]