China Information

Shanghai Pudong Initiated Venture Capital for Technical Enterprises

It was known that, after guiding the investment of USD2m by fund, Shanghai Cathay Biotechnology jointly invested by Guiding Fund of Shanghai Pudong New Area Venture Capital and Singapore BioVeda Capital absorbed USD74m investment of social capital in less than half a year. At the very beginning of this New Year, the Guiding Fund withdrew with proceeds of USD4m, realizing return to investment of USD2m.

The science and technology fund of Pudong New Area will mainly support the development of high-tech industries such as integrated circuit, software and biopharmaceutical, and with support of “smart-eye project”, nearly 100 key technical enterprises will be selected, the development of which will be supported with focus of over 90% capital. Meanwhile, the examination and review system of guiding fund of venture capital investment will be completed and the channels for withdrawal of unlisted holding companies from capital market will be explored Zhangjiang District with construction of a perfect technical financing system. This year, Zhangjiang Venture Capital Investment Park will introduce more than ten international mainstream venture capital institutions such as Draper Fisher Jurvetson (DFJ) and HBM Biological Fund.

posted by china @ 2:12 PM