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 Viewpoint - The investment landscape in Hong Kong is experiencing a significant shift as Super LPs actively engage in the primary market, marking a transition from the IPO frenzy to fundraising activities [3][4]. Group 1: Hong Kong Investment Landscape - The Hong Kong capital market is rapidly recovering and has become a focal point in the global financial landscape, with Super LPs playing a crucial role [6]. - As of December 3, 2025, Hong Kong Investment Management Company announced the completion of the selection process for asset management companies under the "New Capital Investor Immigration Program," with a projected fund size of at least HKD 3 billion by the end of 2025 [6][7]. - The selected institutions cover diverse backgrounds and investment strategies, focusing on areas such as artificial intelligence, sustainable technology, materials science, and biotechnology [7]. Group 2: Recent Developments and Initiatives - In October 2025, Hong Kong Investment Management Company, in collaboration with Hong Kong University of Science and Technology and Gobi Partners, launched the "Gobi-Redbird Innovation Fund" to support early-stage startups incubated by the university [8]. - The fund aims to invest in 15 to 20 promising startups with a target return rate of 20% over a tracking period of approximately 7 to 8 years, focusing on key areas like biotechnology, Industry 4.0, AI, and fintech [8]. Group 3: Performance and Future Outlook - As of October 31, 2025, Hong Kong Investment Management Company has invested in over 150 projects across hard technology, life sciences, and renewable energy sectors, with two companies already listed in Hong Kong [9]. - The company has reported an investment income of HKD 2.3 billion, with 62% of projects based in mainland China and 34% in Hong Kong [9]. - The "Innovation and Technology Industry Guiding Fund," with a budget of HKD 10 billion, has entered the public selection phase for fund managers, indicating a strong commitment from the Hong Kong government to foster innovation [11][12]. Group 4: Strategic Importance of Hong Kong - The regulatory environment and market legislation in Hong Kong have improved, attracting increased attention from mainland VC/PE firms, with several institutions establishing a presence in Hong Kong [12]. - The local innovation ecosystem is maturing, supported by university resources and guiding funds, enhancing the strategic value of Hong Kong as an international financial center [12][14]. - The upcoming launch of the "2025 Fund Group" in the first quarter of 2026 signifies the beginning of a transformative phase led by Super LPs in the investment landscape [14].