以下文章来源于梧桐树资本 ，作者佰仁荟 本届佰仁荟以 "百湖联长江，资本汇江城——母基金驱动下的产业新格局" 为主题，首次让"产业"站上C位，深度探讨如何以母基金为纽带，撬动产 业升级，构筑区域经济发展的新引擎。 大会将继续秉持"非商业、不盈利，无媒体、不报道，无邀请、不参会"的办会原则，旨在为同业提供一个闭门、私密、高端、高效的沟通平台。 第五届「母基金·佰仁荟」由武汉市投促局、武汉市政府驻北京办事处主办，武汉长江新区管理委员会、江夏区人民政府、梧桐树资本承办，武汉市 委金融办协办，同时获得了兴业银行、母基金周刊、执中及LP投顾的鼎力支持。 梧桐树资本 . 梧桐树资本是一家平台型、综合性的私募股权投资机构。专注于投资硬科技、半导体、新能源新材料和医疗健康等战略新兴产业，包括母基金、风险投资 和并购基金（PE基金）三大业务板块，公司于2013年在北京成立。 2025年10月22-23日，中国母基金行业年度盛会——第五届「母基金·佰仁荟」将正式启幕"江城"武汉。 这一次，我们不谈"募资难"，只谈"产业兴"； 这一次，让母基金真正成为产业生态的"超级接口"。 感受中部崛起战略脉搏，抢占政策与市场先机 随着国家"中 ...

百亿级央企创投基金频现 一家由五家"顶流"央企共同组建的央企私募基金公司在北京成立。 据天眼查，近日，央企战新产业发展私募基金管理有限公司成立，注册资本1亿元。出资股东包括中国国新、中国移动以及中国石油、中国石化和中国海 油五家央企各自的资本投资平台。 五大央企携手 央企战新产业发展私募基金管理有限公司成立日期为2025年9月29日，经营范围包括私募股权投资基金管理以及创业投资基金管理服务。 据天眼查，该公司的股东包括中国国新旗下的中国国新基金管理有限公司（持股68%）、中国移动旗下的中移资本控股有限责任公司（持股12%）、中国 石化集团资本有限公司（持股10%）、中海石油投资控股有限公司（持股6%），以及中国石油旗下的中油昆仑（北京）私募基金管理有限公司（持股 4%）。 | 序号 | | 股东名称 | 持股比例÷ | | 认缴出资额(万元)۾ | 认缴出资日期; 关联产品/机构 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 8 | 中国国新基金管理有限公司 品 | | | | | | | | 因新基金 | 控股股东 国有独资 | | 68 ...

分批开展面试，招满为止，第一批报名截至2025年10月14日。 来源丨 投中网 宁波市甬元私募基金管理有限公司为金投控股集团开展市场化基金投资业务的核心载体，本次招聘搭 建市场化直投团队，通过"募投管退"全链条投资运作，推动宁波市现代化产业体系建设及新质生产 力培育。 公司着力为员工提供广阔的发展平台，搭建从梦想启航到事业有成的坚实桥梁。如果你对基金投资怀 有一颗炽热而执着的心，渴望在一个专业而又不失活力和温暖的团队中成长，那么欢迎你加入我们， 一起在这条充满机遇与挑战的投资旅程中，书写属于我们的精彩篇章。让我们携手并进，共同逐梦前 行。 招聘基本条件 将投中网设为"星标⭐"，第一时间收获最新推送 （ 一 ） 思想政治素质好，遵纪守法，品行端正， 具有 良好的职业素质 ; （ 二 ）具有 国家承认的学历，且具有招聘职位所需的学历 (学位)、专业、工作经历、职业(执业)资 格要求; （ 三 ） 本次招聘所涉及的年龄、学历（学位）、工作经历、职业 (执业)资格要求等条件取得时间 的计算统一截至202 5 年 8 月 3 1 日； （ 四 ） 具有适应岗位要求的身体条件等其他条件。 招聘流程 （ 一 ）报名 报名时 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600373 证券简称：中文传媒公告编号：临2025-055 中文天地出版传媒集团股份有限公司 关于2025年度第一期超短期 融资券兑付完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 中文天地出版传媒集团股份有限公司（以下简称公司）于2025年1月3日在全国银行间债券市场公开发行 的2025年度第一期超短期融资券（债券简称：25中文天地SCP001，债券代码：012580028），发行总额 共计人民币10.00亿元，期限270天，发行年利率为1.69%，兑付日期为2025年9月30日（如遇法定节假日 或休息日，则顺延至其后的第一个工作日）。 具体内容详见公司于2025年1月8日披露在《中国证券报》《上海证券报》《证券日报》及上海证券交易 所网站（www.sse.com.cn）的《中文传媒2025年度第一期超短期融资券发行情况的公告》（公告编号： 临2025-002）。 近日，公司已完成2025年度第一期超短期融资券的兑付工作，本息兑付总额共计人民币1,01 ...

以下文章来源于Cici的会客厅 ，作者Cici的会客厅 Cici的会客厅 . 一级市场资本前沿观察者 主理人Cici：一级市场财务顾问（FA）暨商业咨询公司创始人，美国 UTD金融会计硕士 ☕ 在这里，我们聊一级市场投资的底层逻辑，也探讨如何将专业洞察融入您的财富 版图。 01 一个电话背后的行业困局 最近，一位朋友给我打了个很长的电话。 我们姑且叫他李总。 电话那头，这位曾经在路演时意气风发的技术大牛，声音却充满了疲惫。 他的公司，一家一度被众多知名资本热捧的初创企业，最终还是没能撑过这个资本寒冬。 更糟糕的是，他即将被法院列为" 失信被执行人 " 。 宏观数据显示一级市场" 理性回暖 " ，港股IPO数量增长1 5%； 然而微观层面，从业者的体感却是冰冷的。 李总的悲剧，究竟是个例，还是系统性" 变形 " 的必然结果？ 02 新常态，从" 募投管退 "到" 募投管退返 " 李总的个人悲剧，并非发生在真空中。它是一场席卷整个行业的系统性变革所投下的缩影。这 场变革，首先体现在 GP（基金管理人）工作模式的根本性转变上。 这意味着他不仅失去了事业，还将失去作为普通人的大部分" 自由 " ——坐不了飞机、住不了 ...

近日，高盛旗下的私募股权投资机构Petershill Partners宣布将要退市，结束短短四年的上市生涯。 Petershill Partners最早成立于2007年，原本是高盛内部的私募股权投资部门。2021年Petershill Partners被拆分为一家 独立的公司，随后成功在伦敦交易所挂牌上市。上市之初Petershill Partners的市值曾超过50亿美元，但在之后的四年里持 续下跌。 将投中网设为"星标⭐"，第一时间收获最新推送 私募股权与公开市场之间的鸿沟并不容易跨越。 作者丨陶辉东 来源丨 投中网 全球PE退出荒的最新受害者出现了。 有意思的是，虽然股价惨淡，但Petershill Partners的业绩看起来其实并不差。 我们先来了解一下Petershill Partners，这是一家极为罕见的专业型PE机构：它的投资方向不是一般的行业，而正是PE行业 自身。 具体而言，Petershill Partners专门投资其它GP。请注意，Petershill Partners不是去当LP，而是直接投资于GP公司，并 从被投GP的成长中获利。 不难想到，Petershill Partner ...

Core Insights - The article highlights the transformation of state-owned investment institutions from mere "fund providers" to "industry cultivators," emphasizing their role as "patient capital" in supporting high-tech and emerging industries [1][4] - The report released by LP CLUB focuses on the incentive and error-tolerance mechanisms for state-owned investment institutions, aiming to ignite team vitality and alleviate investment concerns through effective incentives and error tolerance [1][4] Group 1: Industry Background - State-owned capital has increasingly dominated the private equity investment landscape, particularly in strategic sectors like hard technology, advanced manufacturing, and biomedicine, positioning these institutions as a "ballast" [4] - The policy trend for 2024-2025 indicates a shift towards "strategic focus, mechanism relaxation, and standard refinement," with an emphasis on quality improvement over mere scale expansion [4] - State-owned investment institutions face dual challenges of maintaining baseline security while fostering team motivation, necessitating the establishment of effective incentive and error-tolerance systems [4][20] Group 2: Research Highlights - The report is based on empirical data from 33 institutions, primarily from East and South China, with 79% managing between 2 to 50 billion yuan [7] - Key findings reveal that while 82% of institutions have incentive mechanisms, they are often limited in diversity and effectiveness, with 67% relying on basic salary and performance bonuses [11][16] - Only 30% of institutions have established error-tolerance mechanisms, with many lacking formal documentation and facing long recognition periods [20][24] Group 3: Case Studies - The report includes in-depth analyses of successful local cases, such as the Guangzhou Development Zone Science and Technology Innovation Fund, which allows for a 100% loss tolerance to stimulate early-stage investments [12][27] - The Shanghai state-owned venture capital fund has raised over 600 billion yuan, focusing on strategic emerging industries and implementing a multi-dimensional evaluation system for fund performance [33] Group 4: Recommendations and Future Outlook - The report suggests optimizing incentive mechanisms by diversifying tools and extending evaluation periods to align with the long-term nature of venture capital [36] - It emphasizes the need for clearer error-tolerance standards and improved efficiency in recognition processes to enhance investment courage [38][40] - The establishment of a supportive ecosystem through industry associations and third-party services is recommended to bolster the operational framework of state-owned investment institutions [41]

Core Viewpoints - The China Securities Regulatory Commission (CSRC) emphasizes the importance of private equity and venture capital funds in supporting technological innovation, highlighting their role as key drivers for capital formation and industry resource integration [2][3] - The concept of "patient capital" is gaining traction, which refers to capital that can provide long-term support and is tolerant of risks and failures, essential for the long cycles and high uncertainty associated with technological innovation [4][6] Group 1: Regulatory Insights - Zhao Shanzhong from the CSRC stated that over 90% of companies listed on the Sci-Tech Innovation Board and more than half of those on the ChiNext have received capital support from private equity and venture capital funds since the implementation of the registration system reform [2] - The CSRC is actively promoting the optimization of the private equity and venture capital industry ecosystem, aiming to streamline the entire fundraising, investment, management, and exit process [2][3] Group 2: Industry Challenges - The current financial supply is characterized by short-term funding and low risk tolerance, which is inadequate for the long-term capital needs of technological innovation [3] - The investment themes have shifted towards hard technology, necessitating a longer investment horizon and a more patient approach from venture capital firms [4][5] Group 3: Policy Support - Recent government policies, including the "17 Measures for Promoting High-Quality Development of Venture Capital," aim to enhance the policy environment and management systems for venture capital [7] - The government is encouraging the development of patient capital and the participation of social capital in venture investments, with significant funding expected to be mobilized [7] Group 4: Future Outlook - The establishment of national venture capital guiding funds is anticipated to attract nearly 1 trillion yuan in local and social capital [7] - The venture capital industry is expected to respond positively to central government calls for increased investment in early-stage, small-scale, long-term, and hard technology ventures [6][7]

Investment Progress - The company has completed the registration of its investment in the private equity fund, acquiring a 19.34% stake in the partnership for a total commitment of RMB 200 million, with an initial payment of RMB 23.116712 million [2][3] - The private equity fund, named Zhongjin Emerging Private Equity Investment Fund (Qingdao) Partnership, was established on December 21, 2017, with a total capital contribution of RMB 1.034 billion [3] H-share Issuance - The company submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange on September 29, 2025, with the application materials published on the exchange's website [5][6] - The issuance is limited to qualified overseas investors and domestic qualified investors under Chinese laws, and the company will not publish the application materials on domestic exchanges [6][7]

Group 1 - The private equity investment sector is experiencing favorable policies, with many regions establishing large-scale comprehensive mother funds to promote local industrial development and integrate innovative resources [1] - The "2025 China Mother Fund Conference" was successfully held in Suzhou, attended by over 200 representatives from government departments, industry associations, mainstream mother funds, insurance asset management, and top investment institutions [1] - Suzhou is actively optimizing the entire chain ecology of the private equity fund industry, focusing on the coordination between funds and industries to enhance capital empowerment [1] Group 2 - Suzhou has become a national hub for venture capital, showcasing strong capital aggregation and innovation vitality in fund establishment, financing events, and IPOs in the first half of 2025 [2] - The private equity investment industry is undergoing deep adjustments, facing challenges such as fundraising difficulties and limited exit channels, necessitating the development of "reassuring capital" that combines risk tolerance and long-term support [2] - Industry experts discussed themes such as the collaboration between national mother funds and local government-guided funds, capturing investment opportunities in the Yangtze River Delta's industrial innovation, and how mother funds can promote high-quality regional integration [2]