Core Insights - Suzhou Angel Fund has made significant strides in empowering innovation and talent development, with a focus on industrial investment and project direct investment [2][3][5] Investment in Industry - In the past year, Suzhou Angel Fund established 10 new sub-funds, raising nearly 4 billion yuan in total [2] - The Talent No. 1 Fund efficiently advanced, completing decisions for 12 sub-funds within six months, with a total scale of nearly 4 billion yuan, covering both state-owned and market-oriented institutions across six core sectors [2] - A total of 180 new investment enterprises were added, with nearly 70% being local Suzhou companies [2] Empowering Innovation - 16 invested enterprises were listed on the "2025 VENTURE 50" by Qianhai Capital, showcasing the fund's impact on innovation [3] - 15 companies were selected as national-level specialized and innovative "little giant" enterprises, indicating strong growth potential [3] - 11 companies were recognized as "Science and Technology Innovation Future Stars" in Jiangsu, highlighting their innovative capabilities [3] Talent Development - Two leaders from invested enterprises were elected as academicians of the Chinese Academy of Engineering, demonstrating significant achievements in high-end talent cultivation [4] - Suzhou had four young scientists recognized, and the city secured four awards in the "Maker China" Jiangsu finals, along with two first prizes in the provincial talent innovation and entrepreneurship competition [4] Direct Investment Projects - The direct investment business of Suzhou Angel Fund engaged with over 400 projects and made decisions on 25, focusing on high-quality project layouts [5] - Direct investment projects won multiple national and provincial awards, breaking a decade-long drought in Jiangsu competitions and achieving national championship status [5] Building the "Angel Ecosystem" - Suzhou Angel Fund organized and participated in nearly 100 investment and entrepreneurship events throughout the year, including high-level talent roadshows and investment matching meetings [6] - Two rounds of Angel Loans provided over 10 billion yuan in credit to more than 200 invested enterprises, effectively supporting their development [6]

Those investors join JPMorgan Chase & Co.’s growth equity investing arm, which holds stakes in OpenAI and Anthropic, as well as Iconiq, an Anthropic investor that gained a stake in OpenAI after the AI giant acquired one of its portfolio companies, Statsig.Some of the AI industry’s biggest backers are betting on both OpenAI and Anthropic. Tech giants Amazon.com Inc., Nvidia Corp. and Microsoft Corp. have all discussed plans to invest in both companies, Bloomberg has reported. Blackstone Inc., the world’s lar ...

Core Viewpoint - ZTE Corporation has approved an investment of 200 million RMB to subscribe for shares in the Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund, aiming to support strategic execution and gain investment returns [1][2][37]. Investment Details - ZTE Corporation will act as a limited partner and invest 200 million RMB in the Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund [8][2]. - The investment was approved during the 20th meeting of the 10th Board of Directors held on February 6, 2026, and does not require shareholder approval as it does not involve related transactions [8][28]. - The fund has a total registered capital of 450.5 billion RMB and focuses on private equity investments, asset management, and investment management [8][28]. Fund Structure and Partners - The fund is structured as a limited partnership and has a maximum duration of 20 years, focusing on sectors supported by national policies such as information technology, biotechnology, and new materials [28][29]. - The general partner and executive partner of the fund is Shenrun Guochuang (Shenzhen) Investment Co., Ltd., which is a joint venture of Shenzhen Innovation Investment Group [9][10]. Fund Management and Decision-Making - The fund will have a decision-making committee responsible for investment decisions, requiring a majority vote for approval [32]. - The fund's profit distribution follows a "return of capital first, then profit sharing" principle, ensuring that all partners receive their initial contributions before any profits are distributed [33]. Impact on ZTE Corporation - The investment is expected to support ZTE's core business strategy and provide access to quality investment opportunities, although it will not be consolidated into ZTE's financial statements [37].

天眼查工商信息显示，近日，湖北烽火创业投资基金合伙企业(有限合伙)成立，执行事务合伙人为武汉 光谷丰禾私募基金管理有限公司，出资额10亿人民币，经营范围为创业投资，以私募基金从事股权投 资、投资管理、资产管理等活动，由烽火通信(600498)、中国联通旗下联通战新私募股权投资基金(武 汉)合伙企业(有限合伙)、湖北省投资引导基金有限公司等共同出资。 ...

Core Insights - The total number of newly registered private equity and venture capital funds reached 1,486 in Q4 2025, marking a year-on-year increase of 28.99% and a quarter-on-quarter increase of 14.31% [2] - The cumulative capital contribution from LPs reached 57.84 billion RMB, with state-owned enterprises contributing 25.68 billion RMB, accounting for 48.35% of the total [1] Fund Overview - In Q4 2025, there were 511 newly registered private equity funds and 975 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 absorption capacity in the Yangtze River Delta and Greater Bay Area [2] LP Contribution Trends - The frequency of LP contributions showed fluctuations in Q4, but overall, there was an upward trend [5] - Monthly active institutional LPs numbered 645, 912, and 821 in the respective months of Q4 2025 [3] Active LP Types - In Q4 2025, institutions with a contribution ratio of 1% or more made a total of 2,602 contributions, with corporate investors being the most active group, contributing 921 times, accounting for 35.4% [6] - State-owned enterprises contributed 756 times (29.1%), while government-guided funds contributed 158 times (6.1%), together accounting for 35.2% of total contributions [7] Contribution Scale - The total contribution scale from LPs with a ratio of 1% or more reached 57.84 billion RMB, with state-owned enterprises contributing 27.06 billion RMB, representing 46.8% [9] - Government-guided funds contributed 4.34 billion RMB (7.5%), while corporate investors contributed 6.74 billion RMB (11.7%) [9][10] Active LP Rankings - The top LPs by contribution frequency included Hefei New Station Technology Industry Development Group and Shaanxi Provincial Science and Technology Innovation Fund, among others [14] - The top LPs by contribution scale included the National Social Security Fund and Beijing Energy Group, with the former contributing 4.8 million RMB [15] LP Investment Characteristics - State-owned LPs continue to play a leading role, focusing on strategic emerging industries and local advantageous industrial chains [17] - Corporate investors exhibit high-frequency participation with a focus on small-scale, diversified investments in vertical industries [18] - Government-guided funds leverage fiscal policies to direct social capital towards key technology sectors, maintaining a significant guiding role [19] - Institutional investors, including pension funds and insurance companies, focus on long-term asset allocation with a preference for high-quality assets [20]

Group 1 - Zhengzhou Guochuang Zhanxin Industry Investment Mother Fund Management Partnership (Limited Partnership) has been established with a capital contribution of 5 billion RMB [1] - The fund is managed by Henan Guochuang Mixed Reform Fund Management Co., Ltd. and Zhengzhou Industrial Investment Group Co., Ltd. as partners [1] - The fund's business scope includes private equity investment, investment management, asset management, and venture capital [1] Group 2 - The fund is registered with the Zhengzhou Market Supervision Administration Free Trade Zone Service Center [2] - The fund's operational period is from January 14, 2026, with no fixed term [2] - The fund is classified under other capital market services in the national industry standard [2]

Core Insights - a16z has successfully raised a new fund of $15 billion, exceeding initial expectations of $10 billion, bringing its total assets under management to $90 billion [1][2] - The new fund represents 18% of all VC fundraising in the U.S. for 2025, surpassing Lightspeed's $9 billion raised last December [2] - Despite 2025 being projected as a low year for VC fundraising, a16z completed its fundraising in just three months, indicating strong confidence from limited partners (LPs) [3] Fund Allocation - The allocation of the new $15 billion fund is as follows: - American Dynamism: $1.176 billion - Apps: $1.7 billion - Bio+Health: $700 million - Infrastructure: $1.7 billion - Growth: $6.75 billion - Other strategies: $3 billion [6] Investment Philosophy - a16z emphasizes long-term impact and technological leadership rather than short-term financial returns, positioning itself as a firm focused on shaping the future of technology [8] - The firm believes in providing not just capital but also legitimacy, sales networks, and talent resources to its portfolio companies [8] - a16z's investment strategy includes making large bets on potential winners and continuously supporting them with additional resources [10] Notable Investments - a16z has invested in many of the highest-valued private companies, including OpenAI, SpaceX, and Databricks, holding a significant share of the AI unicorn market [3] - The firm’s early investment in Databricks, which started as an open-source project, exemplifies its commitment to backing transformative technologies [11][12] Cultural and Strategic Positioning - a16z's culture is built around a strong belief in the future and the importance of giving opportunities to individuals from diverse backgrounds [5][7] - The firm differentiates itself from traditional VCs by focusing on creating lasting competitive advantages and shaping future market needs rather than merely following trends [8]

人民财讯1月9日电，企查查APP显示，近日，诚通创新创业投资基金(嘉兴)合伙企业(有限合伙)成立， 出资额10亿元，经营范围包含创业投资(限投资未上市企业)；股权投资。企查查股权穿透显示，该企业 由中国诚通控股集团有限公司全资子公司诚通科创私募基金管理(北京)有限公司等共同出资。 ...

Core Insights - The Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund Partnership has been established with a total investment of 450.5 billion yuan, focusing on private equity investment, investment management, and asset management activities [1][2]. Group 1: Fund Structure and Partners - The fund is a limited partnership, with the Shenzhen Innovation Investment Group Co., Ltd. as a wholly-owned subsidiary of Shenzhen Hongtu Venture Capital Co., Ltd. and China Resources Capital Management Co., Ltd. as key contributors [1][2]. - The main partners include: - National Venture Capital Guidance Fund Co., Ltd. with a contribution of 2 billion yuan, representing 44.40% of the total [3]. - Shenzhen Guochuang Yinke Technology Innovation Investment Partnership (Limited Partnership) contributing 1.89 billion yuan, accounting for 41.95% [3]. - Other partners include Shenzhen Hongtu Venture Capital Co., Ltd. and China Resources Investment (Tianjin) Co., Ltd. with smaller contributions [3]. Group 2: Operational Details - The fund is registered in Shenzhen, with its main operational site located in the Qianhai Shenzhen-Hong Kong Cooperation Zone [2]. - The fund's operational scope includes private equity investment and investment management, subject to regulatory approvals [2].

The venture capital arms of Alphabet (GOOG) (GOOGL) and Nvidia have participated in a $330M Series B funding round of Lovable that has valued the Swedish vibe coding startup at $6.6B. The funding was led by Google's CapitalG and Menlo ...