现在的投资机构，已经开始松散组织了。 今年以来， 中小 GP普遍开始采取" 轻量化 "运营策略。 一方面，将财务、法务、投资者关系等非核心职能外包，与其他机构共享团队资源，以降低日 常运营费用 ： " 作为小机构，我们财务法务等职位需要处理的事务并没有那么多，其实支撑 不起来全职，外包也是类似情况机构的惯常选择。 "VC投资人张含（化名）告诉母基金研究中 心。 张含表示，近两年， 为了节约差旅预算，对于距离较远的潜在项目不再安排现场尽调，而是改 为远程沟通与线上调研 。 " 我们多数都不是领投方，以跟投为主，所以，有时候会用其他投 资机构的共享尽调报告上会。 " 这样操作的机构不少，还有一些中小创投机构通过 "抱团"模式共享项目来源与投资团队，在维 持项目拓展能力的同时，分摊了前期尽调和管理成本。 甚至对于最核心的投资团队，多数中小机构的投资团队里基本上都会有几个松散合作的兼职： "我们团队里大概一半都是兼职。他们主要是开发项目，完成我们设定的业绩目标就可以。一 方面原因是形势不好，多数基金退出期没什么管理费，这种方案是性价比高的选择；另一方面 原因是找一些产业方的人员兼职合作，能够积累产业资源和开发项目。我 ...

期望热爱投资事业的人才加入。 将投中网设为"星标⭐"，第一时间收获最新推送 来源丨 投中网 宁波通商控股集团有限公司是经宁波市政府授权，由宁波市国资委履行出资人职责的国有资本投资运 营公司。截至2024年底，总资产3365亿元。 宁波通商基金管理有限公司是宁波通商控股集团的全资子公司，以"服务地方战略，引领产业发展"为 基本定位，围绕"基金管理+基金投资"两大核心业务，通过区域+产业的战略布局，聚焦并前瞻性投 资符合宁波产业战略导向的新兴产业和未来产业，锚定宁波着力打造的重点产业链方向，深入推进强 链、补链、延链性投资。 通商基金目前协议管理规模超1100亿元，是 浙江省内管理规模前列、宁波最大规模的私募股权投资 机构，荣获2022-2023年度宁波市政府颁发的"宁波市金融支持实体经济贡献突出机构"及2024年 度"十佳"耐心资本标杆机构。近3年已有8家直投企业海内外上市，4家企业荣获"全球独角兽企业"称 号，3家企业入选"全球猎豹/瞪羚企业榜"。 公司矢志打造管理规模领先、优势产业汇聚的浙江一流基金投资管理公司，为员工提供广阔的职业发 展空间，期望热爱投资事业的人才加入。 现面向社会公开招聘员工 5 名，就 ...

来源：云核变量集团 2025年盛夏，韩国美妆包材行业见证了一个里程碑式的资本事件：私募巨头TPG以8000亿韩元（约合41.36亿元人民币）的高价，将Samhwa出售给了 KKR。 令人惊叹的是，TPG在不到两年的短暂时间内，斩获了近3倍的投资回报，净赚超30亿人民币，这无疑是私募股权投资领域的一个经典成功案例。 Samhwa成立于1977年，最初只是一家为本土香水品牌提供铝制喷雾头的小作坊。历经多年发展，2007年成为其重要转折点，公司研发出"微米级剂量控制 泵"，这款泵能将单次出液量误差精准控制在±0.01ml，极大提升了化妆品包装的精准度与用户体验。 凭借这一核心技术，Samhwa赢得了"泵王"美誉，并成功拿下雅诗兰黛集团长达十年的全球独家供应合同。 发展至今，Samhwa已跻身韩国三大化妆品容器与按压泵制造商之列，产品覆盖水乳霜、气垫、粉底等各类美妆包材，雅诗兰黛、LVMH、欧莱雅、资生 堂四大国际美妆集团贡献了58%的销售额 ，在全球高端美妆供应链中占据核心地位。 2023年11月，TPG以3000亿韩元（约15.51亿元人民币）从Samhwa创始家族及韩国私募基金STIC手中收购了100%股权。 ...

导读： 7月份，上交所、深交所共有44家上市公司(含子公司)对私募股权基金进行了出资，共投向48支 基金，出资笔数共计51笔，已披露金额的出资额合计61.48亿元，平均单笔出资额1.21亿元。 从出资上市公司行业分布上看，7月出资的上市公司中医疗保健公司出资额最多，其次是材料公 司。材料和医疗保健公司在出资次数方面共同位居第一。 从上市公司出资次数的分布上看，最多上市公司出资的地区为广东，上海次之。 作者丨 FOFWEEKLY 上市公司出资详情如下： 日常消费 | 40 30 25 30 19 20 20 10 10 0 0 8月 9月 10月 11月 12月 1月 2月 3月 4月 5月 6月 7月 2024年 2025年 出资规模(亿元) =出资次数 7月份,上交所、深交所共有44家上市公司(含子公司)对私募股权基金进行了出资, 共投向48支基金,出资笔数共计51笔,已披露金额的出资额合计61.48亿元,平均单笔 出资额1.21亿元。 16 14 14.68 14.31 12 10 10.19 9.94 9.00 8 6 5.37 4.91 4.88 4 4.78 4.35 3.84 2.98 2 0 1 ...

Core Viewpoint - The announcement by China Securities indicates a strategic move to enhance the capital strength of its wholly-owned subsidiary, China International Investment, through a capital increase of 1.4 billion yuan, aimed at supporting its private equity investment business and optimizing business layout [1] Group 1: Company Actions - China Securities plans to increase the registered capital of China International Investment to 2 billion yuan, enhancing its capital strength to meet operational needs [1] - As of the end of Q1 this year, China International Investment had total assets of 915 million yuan, with a revenue of 6.21 million yuan and a net profit of 1.38 million yuan for the same period [1] - The recent capital increase aligns with the trend of securities firms increasing investments in private subsidiaries to better serve the real economy [1] Group 2: Industry Trends - The private equity subsidiary sector among securities firms is expanding, with multiple firms actively applying to establish private subsidiaries [2] - Securities firms are transitioning from traditional service providers to comprehensive financial service providers, enhancing their roles in supporting the real economy [2] - In the first half of this year, private equity subsidiaries of securities firms raised over 64 billion yuan in funds, demonstrating their active participation in the market [2] Group 3: Future Directions - The focus of private equity subsidiaries is on supporting technological innovation and industrial transformation, with investments in strategic emerging industries such as healthcare, advanced manufacturing, and new energy [3] - To better conduct private equity business, securities firms should enhance their investment research capabilities and collaborate with local state-owned and industrial capital [3] - The establishment and fundraising of various types of funds, including technology innovation funds and direct investment funds, are encouraged to promote the integration of finance and technology [3]

九鼎投资主要涉及私募股权投资、房地产开发、建筑施工、多元金融、国企改革等概念板块。 注：本内容由算法自动生成，不构成投资建议。 来源：金融界 1. 2025年7月15日公告披露建筑业务2025年度累计新签项目合同4项合计4725.7万元，涵盖土方、装修、 机电及市政工程领域，关联建筑行业与城市更新题材。 2. 2025年8月1日完成控股股东江西紫星100%股权转让至紫星商业的工商变更登记，虽实际控制人未变 但优化集团股权结构，关联国企改革与资产重组题材。 截至9时53分，九鼎投资涨幅为10.03%，最新价17.88元，总市值77.52亿元，封板资金2.30亿元，成交额 2.38亿元，换手率3.18%，所属行业为多元金融。 根据分析，可能的影响因素如下： ...

Group 1 - Qujiang Cultural Tourism (曲江文旅) disclosed that Shaanxi Runyan Technology won a judicial auction for 12 million shares, representing 4.70% of the company's total shares, at an average price of approximately 9.57 yuan per share, totaling about 115 million yuan [1] - Following the share transfer, Qujiang Tourism Investment's stake in Qujiang Cultural Tourism will decrease to 37.06%, as it is currently facing a debt crisis with all its shares frozen [1] - The auction attracted significant interest, with one block of 4 million shares starting at a price of 29.4952 million yuan and receiving 261 bids before being won by Shaanxi Runyan for 39.1152 million yuan [1] Group 2 - Shaanxi Runyan was established in July 2021 with a registered capital of 5 million yuan and is fully controlled by Hong Kong Junyan Investment [2] - Li Bozheng, the actual controller of Junyan Capital, serves as the executive director and general manager of Shaanxi Runyan [2] - Junyan Investment has developed a large investment system, focusing on private equity funds, private securities, and real estate asset management [3] Group 3 - Junyan Investment has previously engaged in asset integration for local listed companies, including a significant asset restructuring involving the sale of 100% equity of two companies for a total of 8.84 billion yuan [4] - The companies involved in the restructuring have reported continuous losses since 2022, with significant net losses recorded [5] - Despite these efforts, the restructuring did not save the listed status of Renrenle, which was delisted in July 2023 [6] Group 4 - Qujiang Cultural Tourism has been experiencing continuous losses, with a projected loss of 13 million to 16.9 million yuan for the first half of 2025, and a projected non-net profit loss of 69 million to 72.9 million yuan [6]

Group 1 - The Beijing Jingguochuan Cultural Technology Industry Private Equity Investment Fund Center has been established with a capital contribution of 400 million yuan, focusing on private equity investment, investment management, and asset management activities [1][2] - The fund is a limited partnership and is registered in Shijingshan District, Beijing, with a business duration from August 1, 2025, to 2034 [2] - The fund's partners include Beijing State-owned Capital Operation Management Co., Ltd. (49%), Beijing Shijingshan Modern Innovation Industry Development Fund Co., Ltd. (25%), Beijing Zhenhong Enterprise Operation Management Co., Ltd. (14%), and Wen Tou Holdings Co., Ltd. (10%) [3][4] Group 2 - The fund is managed by Beijing Jingguochuan Fund Management Co., Ltd., which serves as the executive partner and private fund manager [4] - The fund's establishment indicates a growing interest in private equity investments within the cultural and technological sectors in Beijing [1][3] - The involvement of state-owned enterprises as major partners highlights the strategic importance of this fund in supporting innovation and development in the region [3][4]

买下一个部门。 作者 I 周佳丽 报道 I 投资界-并购最前线 投 资 界 获 悉 ， KKR 近 日 宣 布 知 名 休 闲 摩 托 车 品 牌 哈 雷 戴 维 森 旗 下 的 金 融 服 务 公 司 HDFS ， 已 与 KKR 及 太 平 洋 投 资 管 理 有 限 公 司 （PIMCO）建立长期战略合作伙伴关系，交易价值达5 0亿美元（约合人民币360亿元）。 以下文章来源于并购最前线 ，作者周佳丽 并购最前线 . 投资界（PEdaily.cn）旗下，专注并购动态 欢迎加入投资界读者群 简言之，KKR联手买下了哈雷摩托的金融部门。 哈雷摩托大家并不陌生。始于1903年密尔沃基后院的木棚中，哈雷戴维森凭借坚固耐用的V型双缸引擎、复古的外表以及所承载的自 由、叛逆的重机文化而为一代人所痴迷，价格在几万元到百万元不等。百年风雨，哈雷戴维森却在新一代年轻市场中受挫，销量接连 下滑。危机感扑面而来，这家摩托传奇不得不开始甩卖业务。 说起来，KKR与哈雷戴维森之间早有渊源——大约十年前，曾有传闻称KKR有意收购哈雷摩托，但之后并无下文。如今战略投资其重 要部门，收购一幕也许可能会成为现实。 哈雷摩托卖部门，360 ...

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]