Core Viewpoint - The Hong Kong Investment Management Company (HKIC) has emerged as a significant player in the venture capital landscape, having invested in over 100 projects within a year, with a total fund size of HKD 620 billion aimed at fostering innovation and technology in Hong Kong [1][2][4]. Group 1: Investment Strategy and Activities - Since its establishment in October 2022, HKIC has been tasked with managing various funds, including the HKD 220 billion "Hong Kong Growth Portfolio" and the HKD 300 billion "Co-Investment Fund" [4]. - The company has focused on sectors such as hard technology, biotechnology, and green technology, with a particular emphasis on AI-related industries [4][5]. - HKIC has partnered with notable investment firms like Hillhouse Capital and Yishan Capital, positioning itself similarly to a government-guided fund [4][5]. Group 2: Market Position and Perception - HKIC is perceived as a market-oriented investment fund with a strong international focus, distinguishing itself from traditional government investment funds [8]. - The company has established a reputation for being responsive and accessible, often engaging with entrepreneurs even during holidays, reflecting its commitment to fostering innovation [10]. Group 3: Risk Management and Due Diligence - HKIC employs a rigorous due diligence process, involving multiple rounds of assessments to ensure the viability of investments [9]. - The fund's long investment horizon allows it to support startups through extended periods without imposing strict exit requirements, which is attractive to entrepreneurs [9]. Group 4: Broader Impact on Hong Kong's Innovation Ecosystem - The Hong Kong government has invested over HKD 150 billion in promoting technological innovation over the past five years, indicating a strong commitment to transforming the local economy [12][13]. - The number of venture capital firms in Hong Kong has increased significantly, from 1,500 in 2015 to 5,000 currently, showcasing a growing ecosystem for innovation and investment [13]. - Hong Kong's strategic position as a bridge for global capital and a gateway for mainland companies seeking international markets is increasingly recognized [14].

Core Viewpoint - The "Finding Venture Capital Golden Eagle, Discovering New Seed Enterprises" initiative organized by Securities Times has entered the online voting phase, allowing industry experts and the public to evaluate outstanding enterprises and investment institutions in the new economy sector [1]. Group 1: Event Overview - The initiative received over 350 applications from venture capital institutions and entrepreneurial enterprises, marking a record high [1]. - New awards such as "Annual M&A Investment Case" and "Annual Early-stage Investment Institution" have attracted significant interest from investment institutions [1]. - The event aims to highlight innovative and growth-oriented venture capital institutions and entrepreneurial enterprises by 2025 [1]. Group 2: Voting Details - The online voting period is from May 26 to May 30, 2025 [2]. - Voting is available for six specific awards related to various industries and two awards for entrepreneurial enterprises [1]. - Voting can be conducted via the Securities Times website on both computer and mobile platforms [4]. Group 3: Voting Rules - Candidates are listed in alphabetical order based on pinyin initials [3]. - Each user can cast a maximum of 10 votes per day on the computer and an additional 20 votes on mobile [5]. - The voting data will be strictly monitored to ensure accuracy and authority [6]. - Online voting accounts for 15% of the total scoring weight [7].

（原标题：为中国科创先锋"打Call"！2025"金鹰""新苗"投票启动！） 历经一个多月的筹备，由证券时报社主办的"寻找创投金鹰 发掘企业新苗"行动计划来到了网络投票阶 段！即日起的一周时间内，入围的优秀企业与创投机构将接受行业专家与公众的双重检阅，共同见证新 经济领域标杆力量的崛起。 据本届活动组委会统计，截至报名结束，共收到超350家创投机构和创业企业的申报，数量创出新高。 其中，部分奖项报名者数量过百，角逐相当激烈。在政策大力推动并购重组、鼓励投资机构"投早投 小"的背景下，今年新设的"年度并购投资案例"、"年度早期投资机构"等热门奖项，同样吸引了不少投 资机构的申报。 4、此次投票数据统计将在主办单位严格监督下进行，确保准确性与权威性。 5、网络投票占评分权重为15%。 作为人民日报社主管主办的主流财经媒体，证券时报始终聚焦创投行业发展脉络。自2009年起，我们便 深耕行业价值挖掘，持续致力于发掘创投领域的优秀领航者，同时全程见证创业企业从"新苗"成长 为"参天大树"的蜕变历程。2025年，我们将延续专业视角与行业洞察力，与业界共同期待一批兼具创新 力与成长性的创投机构及创业企业崭露头角。 无论市场 ...

聚焦创投圈新基金情报。 蓝驰创投管理合伙人朱天宇提出，全球科技创新正步入新纪元，中国正在逐渐成为全球科技创新的动力源（Powerhouse），不仅是制造业中心 （Manufacturer Hub），更是创新中心（Innovation Hub）。中国顶尖人才和企业正在关键领域发挥变革性的影响力，重塑全球标准。在新的AI周期中，蓝 驰创投超前地形成了自身AI投资观：AI+3D交互+Robotics的"三浪叠加"，是未来30年科技变革的主题。同时，蓝驰创投紧跟中国科技全球化与人才流动趋 势，投资布局具有全球视野的中国创新企业。 据国家企业信用信息公示系统显示，中广核远航投资（深圳）合伙企业（有限合伙）成立，出资额超250亿元，经营范围为以自有资金从事投资活动、企 业管理。合伙人信息显示，该合伙企业由中国国新控股有限责任公司旗下独资企业国新远航（北京）投资有限公司、中国广核集团有限公司及其旗下中广 核资本控股有限公司共同出资。 眉山市产业发展投资引导基金（以下简称母基金）拟设立眉山中试成果转化子基金（以下简称子基金）。按照"公平公开、综合评价、优中择优"的原则， 遴选子基金管理人。子基金管理人募集不低于10%（含子基 ...

Core Viewpoint - The article discusses the recent issuance of the "Several Policy Measures to Accelerate the Construction of a Technology Finance System" by multiple Chinese regulatory bodies, aiming to enhance the synergy between technology and finance to support high-level technological self-reliance and strength. Group 1: Policy Framework and Objectives - The "Several Policy Measures" focus on seven areas including venture capital, monetary credit, capital markets, technology insurance, and bond markets, proposing 15 policy measures that include both upgrades to existing policies and innovative new measures [1][3]. - The measures aim to establish a long-term financial support mechanism for technological innovation, enhance financing arrangements for major national technology tasks, and address the financing difficulties faced by technology-based SMEs [3][4]. Group 2: Financial Support Mechanisms - The People's Bank of China has increased the scale of re-loans for technological innovation from 500 billion to 800 billion yuan and reduced the re-loan interest rate from 1.75% to 1.5% to provide more substantial and precise loan support for enterprises [4][5]. - A "Technology Board" in the bond market is being developed to facilitate the issuance of technology innovation bonds, with around 100 institutions already issuing bonds exceeding 250 billion yuan [5][9]. Group 3: Capital Market Role - The capital market is emphasized as a key hub for supporting technological innovation, with measures to optimize the environment for domestic listings of technology companies and enhance the functions of various market segments [8][9]. - Specific policies are being implemented to support high-quality technology companies, including a "green channel" for those breaking through key core technologies and promoting mergers and acquisitions in the technology sector [9][10]. Group 4: Financial Ecosystem Development - The article highlights the need to cultivate a comprehensive technology finance ecosystem by promoting collaboration among banks, insurance, securities, and equity investment institutions [5][6]. - Financial institutions are encouraged to adopt differentiated strategies for technology finance, including the establishment of independent management mechanisms and the use of technology enterprise innovation points to improve loan approval rates [6][7].

港投公司行政总裁陈家齐指出，出席此次论坛的耐心资本机构总资产管理规模超过20万亿美元，所涉及 地区共占全球本地生产总值超过50%，反映全球长期资本对科技变革，尤其是人工智能爆发阶段战略布 局的殷切需求。香港"超级联系人"及"超级增值人"的独特优势，可以吸引国际投资者通过香港成熟的资 本市场，对接及投资不同融资阶段的高素质创科企业。 论坛上，港投公司还介绍了与戈壁创投合作成立"耐心资本专项基金"、与蓝驰创投合作成立"共同投资 伙伴计划"，以及与基汇资本合作成立"国际策略拓展平台"等多项具体成果。 此外，论坛设有3个讨论环节，分别为"智启未来，力创革新—共筑创投新生态""联通世界—发掘内地创 新机遇""植根本地，布局全球"。 （文章来源：新华社） 新华社香港5月22日电（记者林迎楠）由香港投资管理有限公司主办的首届国际耐心资本论坛22日在香 港揭幕。论坛聚焦"汇聚耐心资本共建繁荣未来"，吸引了来自全球约80家国际耐心资本机构的400余名 嘉宾，以及不同领域的初创企业和投资机构代表参会。 与会嘉宾纷纷表示看好内地及香港积极增长的发展势头与机遇，指出投资及政策环境稳定、应用场景丰 富、技术与产品不断创新，以及香港作为 ...

Core Insights - The "International Patient Capital Forum" held in Hong Kong focused on gathering patient capital to build a prosperous future, attracting over 400 guests from around 80 international patient capital institutions [1] - The forum highlighted the strategic importance of patient capital in driving technological advancement, industrial transformation, and economic growth amid global economic fragmentation [2] Group 1: Government and Institutional Perspectives - The Financial Secretary of Hong Kong, Paul Chan, emphasized the need for patient capital to provide funding for alternative solutions during supply chain restructuring, focusing on purpose and impact rather than just profit [2] - Chan expressed optimism about Hong Kong's technology ecosystem, which benefits from a complete financing chain and collaboration with the Guangdong-Hong Kong-Macao Greater Bay Area [2] - The CEO of Hong Kong Investment Company, Chan Ka-kee, noted that the total assets under management of attending patient capital institutions exceed $20 trillion, reflecting a strong demand for strategic investments in technological transformation [3] Group 2: Investment Themes and Achievements - The Hong Kong Investment Company has identified three major investment themes: hard technology, life sciences, and renewable and green technology [4] - The company has invested in over 100 projects, with a focus on innovative technologies such as artificial intelligence, and has plans for 5-10 projects to go public on the Hong Kong Stock Exchange [4] - For every dollar invested by the Hong Kong Investment Company, it has been able to attract over four dollars in follow-on investments, indicating a strong leverage effect [4] Group 3: New Collaborations and Initiatives - The Hong Kong Investment Company announced new collaborations, including a "Patient Capital Special Fund" with Gobi Partners to leverage international long-term capital for technological innovation [5] - A "Co-Investment Partnership Program" was established to support globally-minded Chinese tech entrepreneurs and leading global technological innovations [6] - The company also launched an "International Strategic Expansion Platform" with Basis Point Capital to accelerate the commercialization of research outcomes, focusing initially on markets in the Middle East [6] Group 4: Forum Discussions and Future Outlook - The forum included discussions on creating a new venture capital ecosystem, exploring innovation opportunities in mainland China, and establishing a global presence while rooted locally [8] - Attendees expressed confidence in the positive growth momentum and opportunities in both mainland China and Hong Kong, citing stable investment and policy environments, rich application scenarios, and continuous technological breakthroughs [6]

此次论坛汇聚来自全球80家耐心资本机构，包括主权基金、退休基金、大学基金、家族办公室、企业创 投机构等，约400名嘉宾参会。(完) 5月22日， 首届"国际耐心资本论坛"在香港举行。 中新社记者 戴小橦 摄 港投公司行政总裁陈家齐称，本次论坛汇聚众多国际顶尖耐心资本机构，反映全球长期资本对科技变 革，尤其是人工智能爆发阶段战略布局的需求。香港作为国际枢纽，提供高效平台，让投资者与前沿科 企深度对接，掌握技术转化趋势与资本动态。港投公司致力构建跨地域"朋友圈"，促进耐心资本与创新 企业精准匹配。 本次论坛设有3个讨论环节，主题分别为"智启未来，力创革新—共筑创投新生态""联通世界—发掘内地 创新机遇""植根本地，布局全球"。香港中大创新有限公司行政总裁伍心妍指出，香港高校在专业人才 吸引领域成效显著，众多处于成熟发展阶段的人才对投资高校展现出兴趣；期待以本次论坛为契机，进 一步加快探索步伐，深度发掘更多全新投资机遇，推动相关领域合作与发展。 不少家族办公室和创投机构代表均提到，稳定的投资与政策环境、丰富多元的应用场景、持续突破的创 新技术与产品，以及香港作为国际化平台的独特优势，为国际长期投资人带来全球性机遇。 ...

《 清华本部如何做孵化 》 《 围绕清华的投资机构》 《 遍布全国的各分支力量》 《 深圳清华研究院、力合》 《清华内部的创新创业生态》 本周一的那篇还在被推流中，推的我甚至都有一点慌。索性就把这个快要忘记的清华系列捡起来。 我眼中，创而优则投的代表人物是英诺天使基金的李竹总。 李竹， 1965 年生人，清华大学计算机系本科。 1993 年首次创业，后被清华同方收购，出任同方软件与 系统集成公司总经理。 2000 年开始天使投资， 2005 年二次创业，创立直播网络电视平台悠视网。 2010 年开始在创投领域发力。 2010 年发起厚德新媒体版权基金， 2011 年发起孵化器 - 厚德创新谷， 2013 年发起设立英诺天使基金， 2014 年发起设立水木清华校友基金。 至今，英诺天使基金活跃于清华校友的创业圈，而且承办了清华内部诸多创赛等活动。 再考虑到李竹总的年龄，推测他当时的很多同级校友都做到了目前清华的教授级别，这进一步拓展了英 诺的优质项目来源。 （二）欧阳明高 本篇介绍我眼中三位能够代表清华创投特点的前辈。 我把三位分别总结为：创而优则投，教而优则创，教创投三位一体。也要说明，这只代表我个人看法。 ...

Core Viewpoint - The 2025 Tsinghua Wudaokou Global Financial Forum focused on how finance can better empower technological innovation and development, addressing current pain points in the fintech sector [1][2]. Group 1: Financial Technology and Innovation - Huang Qifan emphasized that fintech has evolved through stages, with the current phase being Industry Internet Finance 3.0, which is crucial for solving financing difficulties faced by SMEs [6]. - The "1+10" industrial chain cluster model, which includes manufacturing and ten related service industries, is essential for creating a comprehensive digital platform using technologies like big data and AI [6]. - Huang highlighted that Industry Internet can enhance value and create multiple economic function centers, thus addressing the financing challenges of SMEs [6]. Group 2: Government and Policy Support - Ma Weihua discussed the need for continuous reform of government-guided funds to improve the success rate of technology transfer, noting that China's technology conversion rate reached about 35% in 2024, still lagging behind developed countries [9]. - He identified issues such as the disconnect between the innovation chain and funding chain, valuation misalignment, and the need for a more effective risk management mechanism [9]. - Ma suggested that government funds should play a coordinating role in mobilizing social resources for tech enterprises [9]. Group 3: Investment Strategies and Market Dynamics - Ni Zewang analyzed the current challenges in the venture capital industry, including the tightening of IPOs and the need for patient capital to help startups cross the "valley of death" [12]. - He noted that many funds established since 2015 have a return on investment (DPI) of less than 0.5, indicating a lack of profitability in the sector [12]. - Ni proposed policy adjustments to lower tax burdens and encourage long-term capital from various sources to enter the venture capital space [12]. Group 4: Regional Development and Talent Acquisition - Qiu Dageng highlighted Hong Kong's initiatives in upstream R&D, talent acquisition, and institutional innovation to support fintech development [15]. - The Hong Kong government has invested 10 billion yuan to commercialize university research and attract top talent in the tech field [15]. - Qiu emphasized the importance of regulatory innovation in areas like Web3 and digital assets to enhance the competitiveness of tech enterprises [15]. Group 5: Risk Management and Collaboration - Guo Jian discussed the need for deep collaboration between financial institutions and tech companies, emphasizing the shift from catch-up to leading-edge R&D in China [17]. - He pointed out that innovative technologies can enhance risk management capabilities in financial institutions, which is crucial for supporting high-risk tech startups [17]. - Guo advocated for the use of digital technologies to improve financial risk prediction and management [17]. Group 6: Comprehensive Financial Support System - The forum concluded with discussions on building a more effective financial support system for tech innovation, emphasizing the need for institutional innovation, technological application, and regional collaboration [21]. - Huang Qifan suggested that the operation of Industry Internet would lead to resource and value aggregation, benefiting the overall tech finance landscape [21]. - The participants agreed on the importance of creating a controllable risk and shared benefit ecosystem for tech finance [21].