创投行业正迎来久违的振奋时刻。 沉寂许久的IPO市场，在近日密集释放政策积极信号。 上周，证监会刚刚发文明确"重启未盈利企业适用科创板第五套标准上市"，前天，六部门联合发文"支 持生产、渠道、终端等消费产业链上符合条件的优质企业通过发行上市、'新三板'挂牌等方式融资"。 过去几年， 受IPO审核趋严影响，退出持续承压，尤其是医疗和消费赛道更为低迷，而现下，市场及监 管层面持续释放出利好动能。 时隔两年，创投行业终于等来了退出曙光。 A股回暖 近年来，中国股权投资市场面临的压力日益加剧，尤其是在IPO政策阶段性收紧的背景下，一级市场的 退出机制遭遇了前所未有的挑战。 据清科数据显，2024年共发生3,696笔退出案例，同比下降6.3%，其中被投企业IPO案例数为1,333笔， 占比36.1%。 退出层面的压力也直接传导至募资端，据FOFWEEKLY发布的《LP全景报告》指出，2024年，受IPO收 紧及宏观经济层面影响，中国私募股权市场募资端LP出资节奏进一步放缓，全年机构LP出资私募股权 基金总认缴规模约 1.48万亿，连续4年下滑，较去年同比下跌19.57%。 行业深度调整引发的结构性出清，使众多GP面临募 ...

2025年， 对于股权投资行业而言，或许是 "新生"之年，市场处于结构性复苏的 关键节点 。 在政策红利与技术突破的双重驱动下，中国硬科技企业的全球竞争力和资产价值正加速重塑，成为 推动一级市场复苏的核心动能。 年初以来，创投行业活跃度显著回升，并购市场也迎来新机遇。人工智能、机器人、低空经济等前 沿赛道持续高热，成为资本布局的核心方向，迅速点燃一级市场的投资信心。 伴随着新一代科技产业革命在全球范围内的兴起，投资机构赖以生存的产业环境与竞争格局发生深 刻重构。对投资机构而言，如何在既往成功路径中找到新的发展范式，成为行业核心议题；同时， 更清晰的投资策略和高效的退出能力也至关重要。在这一过程中，投资机构的软实力，成为适应市 场变革、构建新竞争力的核心要素。 FOFWEEKLY深入探索了软实力理论对于股权投资行业发展的应用实践，从提出未来新发展范式 的角度，以发展时间为轴向，提出软实力理论，描述和解构投资机构和机构LP长期发展的内在动 力。 6月3日， 「2025投资机构软实力排行榜」 正式开启调研。 FOFWEEKLY基于对中国股权投资市场的全景扫描式调研，锚定新经济周期语境中具备持续进化 能力的价值创造主 ...

Group 1 - The core issue involves the freezing of over 2 billion yuan in assets controlled by Wu Shichun of Meihua Venture Capital due to a civil ruling by a Beijing court [1] - The ruling was initiated by several investment funds seeking asset preservation, claiming that Wu's company failed to meet obligations related to a buyback clause after a failed C-round financing [1][10] - Wu responded that this is a normal pre-litigation preservation and emphasized that his personal assets are not affected, only the value of his shares in the company involved [1] Group 2 - Wu Shichun is known for his rapid investment style, having evaluated around 50,000 to 60,000 projects over ten years, often making decisions in as little as 20 minutes [2] - Meihua Venture Capital has successfully invested in notable companies, achieving significant returns, such as 1500 times on Dazhangmen and over 1000 times on Qudian [4] - Wu has gained popularity in the investment community for his humorous approach to fundraising, likening the current investment climate to a shift from high-end to more grassroots strategies [4] Group 3 - The investment landscape has become increasingly challenging, with a reported 8.75% decline in total LP contributions in the private equity market, amounting to over 1.8 trillion yuan [10] - Many LPs are dissatisfied with their returns, with a significant portion of funds established since 2015 showing a DPI (Distributions to Paid-In Capital) of less than 0.5, indicating poor capital recovery [12][13] - The reliance on IPOs as a primary exit strategy for VC/PE firms is high, with over 90% of exits depending on this route, contrasting with more diversified strategies seen in mature markets like the U.S. [14][16] Group 4 - The recent tightening of IPO regulations in China has further complicated exit strategies for investment firms, leading to a preference for mergers and acquisitions as a quicker and simpler alternative [16][18] - The S-fund market, which focuses on secondary market transactions, is still in its infancy in China, with less than 10% of the market compared to over 43% in the U.S., indicating a need for development [19][21] - Future developments may include allowing various financial institutions to establish S-funds, potentially enhancing market stability and liquidity [21]

裁定书显示：申请人某投资基金（有限合伙）、某创业投资有限公司、某股权投资基金合伙企业（有限合伙）、某发展基金合伙企业（有限合伙）向中国国际经 济贸易仲裁委员会申请财产保全，请求查封、扣押或冻结被申请人吴某价值212618707.99元的财产。担保人阳光财产保险股份有限公司北京分公司提供保证担保。 对此，吴世春在24日通过朋友圈进行回应：这只是一个正常的诉前保全，由于基调网络在C轮融资后未能重新登陆资本市场，投资者退出受阻，可能因此触发了投 资协议中的回购条款，导致投资方发起仲裁，要求听云公司履行股权回购责任。同时，他也强调目前并未进入执行阶段，其个人财产不会受牵连，仅以其持有的 听云公司股权价值为限。 即便在创投圈身处寒冷与死寂的当下，也从不缺乏大佬的故事。最近，一份北京法院民事裁定书显示，梅花创投吴世春所掌控的超2亿元的资产遭到查封、扣押或 冻结。 最会说脱口秀的"投资界快狼" 作为梅花创投创始合伙人，吴世春的投资风格以"快，准，稳"著称，十年接触过五六万个项目。在梅花创投刚起步的时候，吴世春投的多是熟人，因此决策迅速， 最快的只要20分钟，打印协议立马签字，前后可能也就一杯咖啡的功夫。之后也开始投资陌生人 ...

Group 1 - The core theme of the news is the emergence of a new investment cycle in 2025, driven by AI technology, globalization, and the increasing role of state-owned capital as a stabilizing force in the market [2][4] - The WAVES conference serves as a platform for investors and entrepreneurs to discuss cutting-edge topics such as AI innovation, globalization trends, and value reassessment, highlighting the importance of adapting to new market dynamics [2][4] - The CEO of 36Kr expresses optimism about the new generation of entrepreneurs, emphasizing their potential to disrupt established industry giants and create transformative innovations [2][4] Group 2 - The conference is held in Liangzhu, a city rich in cultural history, which is now seen as an ideal environment for digital innovation and entrepreneurship [4] - Local government officials highlight the supportive innovation ecosystem in Hangzhou, aiming to build a more influential venture capital ecosystem [4] - The investment community is experiencing a renewed interest in AI, with many investors feeling a sense of urgency to capitalize on emerging opportunities in this sector [12][14] Group 3 - The discussion around AI investments reveals a mix of excitement and caution among investors, with concerns about missing out on opportunities while also being wary of potential bubbles in the market [12][14][16] - The concept of "going global" is emphasized, with entrepreneurs and investors looking to redefine their roles in the international market, moving from mere exports to establishing global brands [17][19] - The emergence of "shadow companies" that support global operations is noted, highlighting the importance of logistics and cross-border services in the current investment landscape [21] Group 4 - The conference features a new segment called "Let's WAVES," showcasing young entrepreneurs who have achieved unexpected success, reflecting the growing influence of the younger generation in the startup ecosystem [27][40] - The discussions emphasize the importance of creativity and imagination in driving future investment opportunities, with a focus on how AI can enhance business models and operational efficiency [28][40]

Group 1 - The core viewpoint of the news is the establishment of the Hubei Provincial Government Seed Fund, which aims to restructure the government guidance fund system and support the transformation of technological achievements from universities and key industries in Hubei [1][2] - The seed fund focuses on early-stage investments in hard technology, addressing the financing difficulties faced by innovative enterprises in the initial stages [1] - The management mechanism of the seed fund allows for a maximum loss of 100% on individual projects, emphasizing the cultivation and incubation of seed enterprises rather than solely focusing on annual profits [1] Group 2 - The Hubei government has issued a work plan to reconstruct the government guidance fund system, emphasizing equity investment as a guiding principle and promoting a collaborative investment ecosystem involving government, market, and social capital [2] - The work plan includes 21 measures aimed at enhancing the entrepreneurial investment environment, strengthening industrial investment, and coordinating fund resources [2] - The plan outlines a phased approach for government guidance funds, with a focus on different stages of investment development from initial seed funding to leveraging state-owned capital for broader investment [2]

Group 1 - The company, Suzhou Yinghuate Vortex Technology Co., Ltd., has established a partnership to create a venture capital fund named Changshu Xieli Yinghuate Venture Capital Partnership (Limited Partnership) with a total subscribed capital of 100 million RMB [2] - The company holds a 40% share in the partnership, contributing 40 million RMB, while the general partner, Suzhou Xieli Equity Investment Management Center, contributes 1 million RMB for a 1% share [2] - The partnership was officially registered and received its business license on June 18, 2025, with a registered capital of 100 million RMB [3] Group 2 - The partnership's business scope includes venture capital investments limited to unlisted companies, and it will operate under the legal framework provided by its business license [3] - The company will continue to monitor the fund's progress and fulfill its information disclosure obligations in accordance with relevant laws and regulations [3]

将投中网设为"星标⭐"，第一时间收获最新推送 苏创投，正华丽蜕变。 来源丨 苏州创新投资集团 国家政策暖风频吹，激励创投向高质量发展。 苏州市委市政府紧密部署、时时校向，护航苏创投稳步起跑、果断加速。 年初，苏创投集团为 2025年锚定两个"12345" 发展目标。 一年行程近半，政策的暖风是否内化为发展的东风？苏州"1030"产业体系的需求与期盼有多少被落 实？两个"12345"目标又完成了多少呢？ 在6月18日创投日当天， 苏创投下属子公司不玩虚的，纷纷从自身"重点""亮点"出发，链接所有资 源与力量，用一场场务实的活动、一个个有力的数据，写下答案。 以苏创投之力，为创新链接资源。各子公司结合自身业务分工与优势，举办了各具特色的"苏创新 链"系列活动。 国发创投，"链"耐心资本赋能未来 。 国发创投 举办 "苏创新链·耐心资本赋能未来"活动 ： ▶有30只处于投资期的在管基金集中推介； ▶有12个拟投项目现场与苏州未来产业天使基金签约； ▶还有睿科晶创、臻锂新材、念及智能三家企业现场路演。 科创投，"链"产学研资托举创新成果从0到1。 科创投携手河海大学苏州高等研究院共同举办"苏创新链·高校成果转化投融资 ...

国务院国资委目前发布国有企业对标世界一流企业价值创造行动优秀案例目录，深创投作为典型代表成 功入选，是省内唯一一家入选的国企。 聚焦主业服务创新 深化改革激发活力 深创投"托举"274家企业上市 ■ 深圳特区报记者 何泳 国务院国资委日前发布国有企业 对标世界一流企业价值创造行动优秀 案例目录,深创投作为典型代表成功 入选,是省内唯一一家入选的国企。 聚焦主业服务创新,深化改革激 发活力,着力打造世界一流风险投资 机构,深创投致力于做创新价值的发 掘者和培育者、中国风险投资事业的 探路者和引领者,建立起符合风险投 资行业特点和发展规律的市场化运作 机制。截至今年5月底,深创投累计投 资企业超过1700家,其中培育上市企 业274家、国家级专精特新"小巨人" 企业超450家;累计管理各类资金总 规模近5100亿元,构建覆盖企业全生 命周期的基金矩阵。(下转A4版) 深创投"托举"274家企业上市 (上接A1版) 前瞻布局是至关重要的一环。深创 投强化早期投资力量,设立早期投资 部,不断完善与早期投资相适配的体制 机制。举办种子训练营,面向人形机器 人、脑机接口、通用人工智能、量子计 为培育新质生产力注入资金活水 ...

企查查APP显示，近日，无限启航海河(天津)创业投资合伙企业(有限合伙)成立，出资额约1.4亿元，经 营范围包括创业投资，以私募基金从事股权投资、投资管理、资产管理等活动。企查查股权穿透显示， 该企业由杭州阿里创业投资有限公司、海天瑞声等共同出资。(人民财讯) ...