在激烈的国际竞争中，惟创新者进，惟创新者强，惟创新者胜。只有在原始创新上取得新突破，在 重要科技领域实现跨越式发展，确保关键核心技术自主可控，才能在全球竞争中赢得主动。发展科技金 融能够有效推动金融资源向科技创新领域倾斜，以金融力量激发科技创新的最大效能，为加快实现高水 平科技自立自强、推进中国式现代化提供有力支撑。 总结科技金融发展的成效与经验 近年来，我国科技金融发展成效显著，金融支持科技创新的政策力度不断加大，金融产品和服务体 系持续优化，资本市场创新活力加速释放，为科技型企业发展提供了更加多元的金融服务。 顶层设计不断完善。国家层面对科技金融的重视程度持续提升，政策供给持续强化。2024年，中国 人民银行等七部门联合印发《关于扎实做好科技金融大文章的工作方案》，推动金融机构和金融市场全 面提升科技金融服务能力、强度和水平，为各类创新主体的科技创新活动提供全链条全生命周期金融服 务。今年5月，科技部、中国人民银行等七部门联合发布《加快构建科技金融体制 有力支撑高水平科技 自立自强的若干政策举措》，聚焦创业投资、货币信贷、资本市场、科技保险等方面提出举措，为科技 金融制度安排和工具创新指明了方向。 随着技 ...

资料显示，ABB拥有140余年历史，全球员工约11万名，是电气与自动化领域的全球技术领导企业，致 力于赋能可更持续与高效发展的未来。ABB机器人业务作为行业领军者，处于自动化长期发展趋势的 核心。ABB机器人业务单元目前拥有约7000名员工，2024年销售收入为23亿美元，约占ABB集团总收 入的7%，运营息税摊销前利润率为12.1%。 软银集团是日本综合性风险投资公司，主营业务涵盖移动通信、固网电信及ISP服务等。今年以来，除 了在机器人领域出手，该公司亦在AI领域频频布局。例如，今年年初，孙正义与OpenAI和甲骨文 (ORCL.US)与特朗普共同宣布了名为"星际之门"的AI联合开发投资项目，该项目的总投资将达到5000亿 美元，在美国各地建设数据中心，并配置满足电力需求的发电设施。紧接着，软银还与OpenAI建立了 合作伙伴关系，共同开发和推广名为"Cristal Intelligence"的企业级AI服务，软银每年将投入30亿美元。 今年3月，软银还宣布以65亿美元的全现金交易收购Ampere。后者于2018年在硅谷成立，最初专注于云 原生计算，后将业务拓展至可持续AI计算领域等。 "ABB将遵循既定 ...

司美格鲁肽厂商丹麦制药巨头诺和诺德母公司投资设立了量子专项风投基金55 North。该基金在首轮募 资中获得了约3亿欧元资金，其中，诺和诺德母公司Novo Holdings和丹麦出口与投资基金 （EIFO）作 为基石投资者投资了1.34亿欧元。该基金也成为目前全球规模最大的量子专项风险投资基金。 ...

深圳商报·读创客户端记者 郑恺 近日，中国风险投资研究院权威发布"2025中国风险投资行业年度榜单·金投奖榜单·年中榜"。深圳市南山战略新兴产业投资有限公司（简称：南山战新投） 实力入选"2025年度中国影响力国资投资机构TOP50"，行业影响力获权威认可。 | 序号 | 简称 | 序号 | 简称 | | --- | --- | --- | --- | | 01 | 保利资本 | 26 | 两江资本 | | 02 | 北汽产投 | 27 | 临港科创投 | | 03 | 策源资本 | 28 | 南山战新投 | | 04 | 长江创投 | 29 | 南通投管 | | 05 | 重庆渝富基金 | 30 | 瑞力投资 | | 06 | 福创投 | 31 | 山东新动能资本 | | --- | --- | --- | --- | | 07 | 富浙基金 | 32 | 上海国投孚腾资 | | 08 | 工控资本 | 33 | 深高新投 | | 09 | 广东恒健控股 | 34 | 深投控资本 | | 10 | 广汽资本 | 35 | 四川省科创投资 | | 11 | 广投资本 | 36 | 苏创投 | | 12 | 广 ...

Group 1 - Liu Bo, a partner at Qingliu Capital, has been in the VC industry for 12 years and has experienced significant changes in the economy and industry dynamics [3][5][7] - The VC industry has evolved from a "handcrafted" approach to a more industrialized model, with specialization in project sourcing, valuation, and post-investment management [4][5] - The current generation of investors, represented by Liu Bo, is characterized by mentorship and structured learning, contrasting with earlier generations that relied on personal style [4][5] Group 2 - The consumer sector faced severe challenges, leading Liu Bo to reassess her career and investment strategies as she approaches her 40th birthday [5][6][8] - The liquidity crisis in the primary market has made it difficult for projects to secure funding, impacting the risk-reward balance for VCs [7][8][11] - The shift in focus from consumer investments to sectors like renewable energy and AI reflects the need for adaptability in response to market conditions [14][15][18] Group 3 - The VC industry is experiencing a transformation where traditional methods of project evaluation and relationship management are being challenged by new dynamics [17][19] - The importance of maintaining optimism and learning agility is emphasized as essential traits for success in the VC field [19][20] - The perception of age and experience in the VC industry is evolving, with a call for more visibility and representation of individuals over 40 [21][22][23] Group 4 - Liu Bo's insights suggest that the VC landscape is becoming more competitive, with fewer opportunities and a need for deeper engagement with projects [18][24] - The exploration of family office perspectives on VC investments indicates a shift in how assets are evaluated and managed in the current market [24][25] - The focus on exit strategies is highlighted as crucial for realizing the value of past investments, underscoring the importance of timing in the investment cycle [25]

技术的兴起正深刻重塑金融形态。 科技与金融的融合推动金融领域技术革新，金融为科技创新提供"活水"服务，二者双向互动不断拓展科 技金融边界，催生出新趋势、新模式与新生态，成为驱动经济高质量发展的关键引擎。 然而，当前科技金融发展也面临现实困境：银行风险偏好与科创企业需求错配，专业人才储备不 足，"融资难"与"融资贵"形成市场化悖论，同质化竞争加剧、甚至出现套利现象。 如何破解科技金融的"不可能三角"？怎样构建既符合市场化逻辑又能服务科创企业的差异化生态？ 长江商学院苏丹教授在接受新浪财经专访时指出，科技金融需走出真正商业化道路，构建完整金融生态 体系，最终实现经济结构从有形资本向无形资本主导的转型，催生创新驱动的可持续增长模式。 来源 | 新浪财经 苏丹 长江商学院金融学助理教授 银行做科技金融，面临三大局限 Q 近年来，银行在突破传统的抵押式贷款，发展更多信用贷、科技贷，为科创企业提供便利，这对于科创 企业的融资约束究竟缓解了多少？ 与其他融资方式相比，银行具有以下独特的比较优势：首先银行规模大、资金成本低且稳定性强。不像 直接投资、风险投资，特别受市场环境和流动性影响。加息、降息都会直接影响投资规模。对于科 ...

"整个行业似乎还没走出艰难困境，但今年以来随着资本市场的新发展，风投创投也出现了一些转好的 迹象。"他进一步指出，"以前的风投创投发展方式、路径等需要改变，目前的风投创投状态就是这种调 整的体现。" 创投风投进入新阶段有哪些特征和趋势？屠光绍提到了以下几点。 第一，发展风投的意义已从行业发展本身上升到国家战略。 屠光绍指出，创投风投的国家战略地位不断凸显，和三个方面有关。首先，风险投资、创业投资是科技 创新、新质生产力发展体系的构成部分；其次，创投风投发展对社会融资体系的改进和优化具有积极作 用，包括改善直接融资不够、直接融资中债权融资和股权融资发展不平衡、股权融资中长期和短期资金 不平衡等；再次，聚焦到金融"五篇大文章"中的科技金融，创投风投扮演着非常重要的引领作用。 "我们要发展科技金融，这是一个体系，我们要有银行、保险、投资，但是首要环节是风险投资，只有 风险投资才能够帮助企业最早的创新和创业；有了风险投资帮助我们的创新创业企业迈出第一步，后面 的金融资源才能跟得上。"屠光绍认为，综合来看，创投风投行业从自身发展到国家战略地位提升，是 其迈入新发展阶段出现的重要转换。 第二，创投风投的发展方式正在经历从 ...

Core Insights - Southeast Asia is viewed as a primary destination for Chinese companies expanding overseas due to its geographical and cultural proximity [2] - The region is gaining attention under the global South-South cooperation framework, presenting significant opportunities for investment [2] - Key strategies for Chinese companies include avoiding price wars, understanding local demands, focusing on localization and compliance, and sharing profits for mutual benefits [2] Market Potential - The ASEAN countries have a combined population of nearly 700 million and a GDP of approximately $4 trillion, with an expected economic growth rate of nearly 7% over the next five years [2] - Southeast Asia's B2B platform WOOK highlights the region's weak local manufacturing and lack of technical talent as opportunities for investment [2] - The young population in Southeast Asia shows high consumer willingness and acceptance of new internet business models, indicating a golden decade for consumption upgrades [2]

Core Viewpoint - The development of the productive service industry is crucial for GDP growth, the emergence of unicorns, and the increase in high-value-added equipment and terminal product value [1][3] Group 1: Capital Market Development - The securitization rate is a key indicator of capital market maturity, with a ratio of total market value to GDP ideally between 1:1 and 1:1.2. China's current ratio is approximately 70%, indicating significant growth potential [1] - By 2040, China's GDP is projected to reach around 350 trillion yuan, suggesting that the stock market's total market value could potentially quadruple to about 400 trillion yuan if it reaches 100% to 120% of GDP [1][2] Group 2: Investment Strategies - Various funds, including venture capital, private equity, and industrial funds, play a vital role in capital market development, with a total of nearly 30 trillion yuan, of which 40% is currently invested in low-risk monetary and fixed-income securities [2] - The focus should be on early-stage investments in hard technology, starting from the 0-1 stage and progressing through various investment phases to support the growth of high-tech enterprises [2][3] Group 3: Importance of Productive Service Industry - The productive service industry is a key driver of innovation and development in manufacturing, serving as the foundation for new productive forces and high-quality economic growth [3] - In modern economies, the value of productive services is embedded in hardware and terminal equipment, contributing significantly to the overall value of products, such as software and patents in a smartphone [3]

2025 年创投市场步入 "分化-深化期"：投资端从 "广撒网" 转向 "精耕细作"，募资端 LP 更趋审慎，聚焦 "确定性" 价值，对具备品牌背书的机构偏好显著提升。 洗牌过程中，"品牌"从机构的"加分项" 升级为穿越周期的 "硬通货"—— 既是吸揽长期资本的 "活名 片"，也是链接优质项目的 "强磁石"，既能让 LP 看到穿越周期的定力，也能让项目方认可资源赋能的 价值，早已成为机构安身立命的核心竞争力之一。 创业邦连续第五年启动"最受赞赏的风险投资机构" 评选，为市场精准筛选兼具硬核业绩与行业口碑的 标杆力量。评选延续 "主榜 + 垂直赛道榜" 框架：主榜按早期、创业、私募股权三阶段划分，清晰勾勒 不同投资阶段的领军者，同时还包含2024 年新增的国资投资机构类别；垂直赛道榜紧扣新质生产力培 育方向，覆盖智能制造、人工智能等六大核心领域。 评判权交由180 位 GP 合伙人与一线赛道投资人，以同行视角提供专业背书，最终收获 18816 张有效票 —— 每一票，都是投资人对其他机构品牌力的真实认可。 榜单揭晓 结合投资人投票结果与评审规则，我们梳理出2025 年 "最受赞赏的风险投资机构" 完整名录。名录 ...