以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 上周基金重点事件回顾丨 05.19-05.25 睿兽分析每周整理最值得关注的 基金重点事件 ，帮助大家及时了解全球私募股权基金市场动向。 政府引导基金 为助力实现 "三高四新" 美好蓝图，加快建设现代化产业体系，湖南省金芙蓉产业引导基金拟设立空 天海洋产业子基金，现面向社会公开遴选管理机构。湖南省金芙蓉产业引导基金经省政府批准、省财 政厅牵头组建，由湖南财信金融控股集团旗下的湖南省财信产业基金管理有限公司管理。新设立的空 天海洋产业子基金，主要投资空天海洋产业，重点投向航空航天及北斗产业链优质企业，以及省内强 链补链延链项目，以壮大湖南空天海洋产业，促进科技成果转化，支持企业全生命周期发展。参与遴 选的机构需满足多项条件。须取得私募股权投资基金管理人相关登记备案资质，实缴注册资本不低于 1000 万元人民币。至少具备 3 名拥有 3 年（含）以上投资基金管理工作经验，或有空天海洋产业相 关背景的专职高级管理人员，且子基金管理机构及管理团队主 ...

Core Viewpoint - The article highlights significant movements in the LP market, particularly focusing on the establishment of new funds and partnerships among major state-owned enterprises, which are expected to enhance investment in nuclear power and technology sectors in China [4][5][6]. Fundraising Dynamics - China Guoxin and China General Nuclear Power Corporation have established a new partnership in Shenzhen with a capital contribution of 250.01 billion RMB, aimed at supporting nuclear power construction and technology research [4][12]. - The "State-owned Enterprise Stock Asset Optimization and Upgrade Fund" was jointly initiated by China Guoxin, China Cinda, China Orient, and China Great Wall, with a total scale of 40 billion RMB [7]. - The Lighthouse Founders' Fund (L2F) by Guangyuan Capital has completed its first phase of fundraising, targeting a minimum of 50 million USD, focusing on AI and industrial innovation [9]. - Xiangfeng's second angel fund has raised over 500 million RMB, supported by existing LPs and local government [10]. New Fund Establishments - The Lhasa City Industrial Strong City Mother Fund has been established with a total scale of 1.5 billion RMB, aimed at promoting industrial upgrades and attracting social capital [14]. - Two equity investment funds have been set up in Daxing District with a total scale of 4 billion RMB, focusing on innovative enterprises in various sectors [16]. - The Kaide Investment has launched its first onshore mother fund in China with a commitment of 5 billion RMB, expected to contribute 20 billion RMB to its asset management scale [17]. - The Jiangsu Province Data Industry Fund has been established with a capital of 1.5 billion RMB, focusing on investments in the data industry [23]. GP Recruitment - Ji'an City is seeking to establish a technology innovation equity investment fund with a target scale of 300 million RMB, focusing on sectors like electronic information and AI [27]. - Meishan City is looking to recruit GP for its trial results transformation sub-fund, with a scale of 100 million RMB, targeting lithium batteries and photovoltaic industries [28].

Core Insights - Xiangfeng Investment is expanding its early-stage VC investments into the angel investment phase to enhance its early-stage technology investment ecosystem [1][3] - The newly raised second-phase angel fund has surpassed 500 million RMB, supported by existing LPs and local government investments [1][3] - The focus of the second-phase angel fund will be on early-stage projects in hard technology and medical technology, including sectors like semiconductors, robotics, AI, and biomedicine [1][2] Fundraising and Investment Strategy - The second-phase angel fund's successful fundraising reflects a significant change in the market environment since the first-phase fund was raised in 2020, with RMB funds becoming the mainstream [1][6] - Xiangfeng has a total management scale of approximately 20 billion RMB across multiple funds, including five USD funds and two RMB funds [3][6] - The strategy of combining angel and VC funds allows Xiangfeng to capture industry opportunities at lower valuations and provide follow-up investments in promising projects [4][6] Performance and Market Trends - Approximately two-thirds of the first-phase angel fund's investment projects have completed subsequent financing rounds, indicating strong performance [4][6] - The shift from USD to RMB funds in early-stage investments reflects a broader trend where RMB funds are becoming more mature and willing to take risks in innovative sectors [6][7] - Xiangfeng has been investing in hard technology since around 2010, positioning itself advantageously in the market [7][8] AI Investment Opportunities - The company sees significant potential in AI applications, predicting that by 2025, AI technology will fundamentally change various industries [8][9] - New AI products may replace traditional products, enhance existing ones, or create entirely new market demands [8][9] - Despite the advantages of large companies in AI development, there are still substantial opportunities for startups to thrive in niche markets [9]