Overview
- At an unveiling on Friday, officials presented the National Venture Capital Guidance Fund alongside three vehicles serving the Beijing–Tianjin–Hebei cluster, the Yangtze River Delta and the Greater Bay Area.
- Finance ministry representatives said the mandate is to invest early, invest small, invest long term and focus on hard technology.
- State media reported each new fund has commitments exceeding 50 billion yuan, targets startups valued below 500 million yuan and caps single investments at 50 million yuan.
- The programme uses a three-tier structure of a national guidance fund, regional funds and sub-funds, with regional funds signing agreements and initiating sub-funds and projects.
- Priority areas include quantum technology, semiconductors, biomedicine, artificial intelligence and next-generation networks, with investment cycles planned for roughly 15 to 20 years.