文：韦亚军 目前港府正在甄选基金经理，以期基金年内开始运作。 2026年2月25日，香港特区政府公布2026-2027财政年度特区政府财政预算案，财政司司长陈茂波在介绍财政预算案时表示，香港特区政 府还将推出100亿元"创科产业引导基金"。 在投资方向上，该基金主投人工智能与数据科学、生命健康科技、先进制造与新能源科技等前沿领域。 在具体运作上，基金依托政府与业界配对出资，每3港元民间资金获配1港元政府资金，每个基金政府出资1.5亿至2.5亿港元。 2、新资本投资者入境计划投资组合（30亿港元+） 按公开报道的说法是，该基金"2025年资金组别总规模至少30亿港元"。管理机构为香港投资管理有限公司，即港投公司。 据悉，该基金将引导市场资本投资生命健康技术、AI与机器人、未来产业等策略性新兴领域。目前港府正在甄选基金经理，以期基金年 内开始运作。 据PE星球了解，该基金去年就已经开始筹备，2025年内已正式启动。管理机构为香港创新科技及工业局、创新科技署。 基金采用Fund of Funds架构，政府作为有限合伙人（LP）投资子基金，以每3港元社会资本撬动1港元政府资金，预计可撬动数百亿至千 亿港元社会资本。 ...

Core Insights - The Hong Kong Innovation and Technology Commission has announced the launch of a HKD 10 billion "Innovation and Technology Industry Guiding Fund," which is now in the public selection phase for fund managers [1] - The fund aims to align with the national "patient capital" development strategy and promote efficient collaboration among government, industry, academia, research, and investment [1][2] - The fund will focus on five key investment themes: life and health technology, artificial intelligence and robotics, semiconductors and smart devices, digital transformation, and future sustainable development [1] Investment Requirements - Each sub-fund under the guiding fund must invest 100% of its capital in companies related to Hong Kong's innovation and technology industry and its industrial chain [2] - At least 50% of the fund's capital must be allocated to local Hong Kong enterprises or non-Hong Kong enterprises planning to operate in Hong Kong [2] - A minimum of 25% of the fund's capital must be used by the investment targets to establish and operate manufacturing bases in Hong Kong during the investment period [2] Background and Context - The establishment of the guiding fund was previously mentioned in the policy address by Hong Kong's Chief Executive on September 17, indicating its launch in the 2026-2027 fiscal year [2] - The fund has attracted significant interest from mainland VC/PE institutions, including state-owned equity investment institutions and early-stage investment firms in the technology sector [2][3] - The Hong Kong Innovation and Technology Commission had previously launched the "Innovation and Technology Venture Fund" optimization plan, which allows for the establishment of joint funds to invest in strategic industries [3] Investment Management and Performance - The Hong Kong Investment Management Company, established in 2022, has reported over HKD 2 billion in investment returns in 2024, benefiting from investments in IPOs and biotech companies [3][4] - The initial investment fund of the Hong Kong Investment Management Company amounts to HKD 62 billion, with less than 20% of the funds deployed as of the end of last year [4] - The company is currently seeking partnerships with sovereign wealth funds, pension funds, and corporations for larger-scale investments [4] Strategic Implications - The guiding fund's establishment is seen as a move to attract more domestic and international resources to Hong Kong's innovation and technology sector, enhancing its role as an international innovation center [4] - The approach to setting up the guiding fund draws inspiration from investment attraction models used in mainland cities, particularly Shenzhen [4]