Shenzhen Venture Capital Group has invested in over 1500 technology-based enterprises, incubating innovative "new forces" through "early investment and hard investment", supporting technological self-reliance and self-improvement, and exploring bold capital... In recent years, driven by the growth of patient capital, Shenzhen's private equity venture capital funds have a scale of over one trillion yuan, and the investment intensity of scientific research and experimental development (RD) funds has reached 6.46%. The new quality productivity of the "City of Innovation" is surging with strong vitality. Supporting innovation and accompanying growth. In November, with the listing of cross-border e-commerce company Aoji Shares on the Hong Kong Stock Exchange, the cumulative number of listed companies invested by Shenzhen Venture Capital Group has reached 270. This market-oriented state-owned venture capital institution ranks among the top in the industry in terms of the number of invested enterprises and listed companies. Whatever the country needs, Shenzhen Venture Capital will invest in it Zuo Ding, Chairman of Shenzhen Venture Capital Group, said that patient capital should start from the overall situation of the times and guide capital to continue cultivating the fertile land of science and technology innovation. While supporting technological innovation and accompanying enterprise growth, venture capital institutions also generate profits, achieving a "one investment, three wins" strategy. Breaking through the bottleneck requires technological breakthroughs and capital to keep up. Through continuous research, analysis, and visits to the semiconductor equipment industry chain, after nearly a year of follow-up, Shenzhen Venture Capital has led investment in semiconductor equipment production and service provider Zhongke Feice, and has provided sufficient financial support for its development in two consecutive rounds. Behind this is the original intention of Shenzhen Venture Capital to support the development of China's semiconductor equipment industry chain and its continued optimism about the prospects of the domestic semiconductor industry Zuo Ding said. Last May, Zhongke Feice was listed on the Science and Technology Innovation Board. Chen Lu, Chairman of Zhongke Feice, recently stated that the company will continue to expand its equipment types and promote product upgrades and iterations towards more cutting-edge processes. Looking back at time, Shenzhen Venture Capital and the China International High tech Fair (CHTF) held in Shenzhen were jointly established in 1999, hoping to work together to promote the transformation of scientific and technological achievements. The 26th High Tech Fair, which closed in mid November this year, had an intended transaction amount of over 120 billion yuan. Huada Jiutian, Western Superconductor, CATL, Mindray Medical, SMIC... For more than 20 years, Shenzhen Venture Capital has also accompanied numerous technology companies to grow and expand, managing a total scale of over 480 billion yuan in various funds, investing in more than 1500 technology-based enterprises, and cultivating 423 national level specialized and innovative "little giant" enterprises. Driven by patient capital such as Shenzhen Venture Capital, the atmosphere of technological innovation in Shenzhen is becoming increasingly strong. According to statistical data, as of the end of 2023, the existing scale of private equity venture capital funds in Shenzhen was 1.52414 trillion yuan. In 2023, the RD expenses in Shenzhen reached 223.661 billion yuan, with an investment intensity of 6.46%. Early investment and hard investment "are the two wings flying together in the construction of an innovative ecosystem. Start up enterprises that are in need of nourishment and industrial investments that are important to the country require patient capital and precise drip irrigation. When the reporter recently met with Li Xinjian, the general manager of Shenzhen Angel Investment Guidance Fund Management Co., Ltd., he frankly stated that his schedule was very full, "running around major venues and enterprises, exploring new technological forces is a heavy task and a great responsibility." The Shenzhen Angel Mother Fund was established in 2018 with investment from the Shenzhen Municipal Government, with a scale of 10 billion yuan, focusing on "early investment and small investment in technology" like an angel. At the end of 2023, in order to further support the transformation of early technological achievements, on the basis of the Angel Mother Fund, Shenzhen will launch a new technology innovation seed fund with a total scale of 2 billion yuan to support "earlier and smaller" seed stage projects. Data shows that currently, Shenzhen Angel Mother Fund and Technology Innovation Seed Fund have driven social capital to participate in early-stage investments of over 23 billion yuan, investing in nearly a thousand projects, with 188 projects valued at over 100 million US dollars and 6 "unicorn" companies valued at over 1 billion US dollars. Shen Xiaoyong, co-founder of Simo Technology, said that when the company was still very small, Shenzhen Angel Mother Fund "provided timely assistance". Subsequently, the team continued to build and improve, and the business influence continued to increase. The company's intelligent hardware, industrial software and other product systems had an annual revenue of over 100 million yuan and a valuation of over 1 billion US dollars. Patient capital not only invests in early-stage "fresh meat", but also supports the "big guys" in hard technology. Shenzhen Major Industry Investment Group Co., Ltd. is positioned as a functional investment platform for major strategic leading industries, focusing on the main responsibility and business of integrated circuits, and making efforts to overcome challenges. It has introduced and invested in more than 10 national and provincial major industrial projects, including Shenzhen's first 12 inch high-end chip manufacturing production line and the heavy investment in Tianke's third-generation semiconductor industrial park project. Major project investments require patient capital, long-term and sustainable perspectives Dai Jun, Chairman of ShenShen Investment Group, said that the functional platform for state-owned capital industry investment is to fully leverage the key connecting role of "capable government" and "efficient market", create an industrial development ecosystem of "big trees forming shade" and "flowers and plants complementing each other", and promote the concentration of state-owned capital towards new quality productivity. Agglomeration of resources, institutional exploration With the agglomeration of resources, the "highland" of patient capital is accelerating its rise in Shenzhen. In September of this year, Shenzhen introduced insurance funds to establish a fund - "Ping An Chuangying - Shenzhen Ping An Major Project Investment Fund", which invests in infrastructure projects and venture capital. The fund size reaches 10 billion yuan, of which Ping An Life Insurance subscribed 9.45 billion yuan. Yang Zheng, Secretary of the Party Committee and Chairman of Ping An Life Insurance, said that insurance funds have the advantages of large scale, long term, and high stability, which are in line with the needs of venture capital and have become a new force of patient capital. In mid October, several financial asset investment companies (AIC) signed equity investment cooperation funds in Shenzhen, with a total amount of 55 billion yuan. Shi Weigan, Executive Deputy Director of the Financial Office of the Shenzhen Municipal Party Committee, stated that Shenzhen has superior conditions for developing industries and innovative investment, which complement the long-term and stable characteristics of patient capital, and jointly promote the emergence of new sparks in Shenzhen's innovative industries. While laying a solid foundation of patient capital, new explorations are also constantly underway, unleashing stronger innovative momentum. Recently, Shenzhen has proposed to cultivate and guide patient capital and bold capital to serve the "20+8" strategic emerging industries and future industrial clusters in Shenzhen, support state-owned funds to boldly try and make mistakes, and give full play to the leverage amplification effect of fiscal funds. Shenzhen proposes to explore a fault tolerance and exemption mechanism for state-owned assets and funds, which has a distinct demonstration feature and helps to better serve and achieve high-level technological self-reliance and self-improvement Yu Lingqu, Executive Director of the Institute of Financial Development and State owned Assets and Enterprises Research at China (Shenzhen) Institute of Comprehensive Development, said. (New Society)