Chengdu High-Tech Zone Forms RMB 10B Angel Fund Cluster with 10 New Sub-Funds, Targeting CGT, ICs, and Industrial Software

Oct 19, 2023 08:23 CST Updated 08:23

CR Therapeutics

Innovative Immunotherapy Product Developer

Yesterday,2023 China·Chengdu Angel Investment SummitHeld in Chengdu High-Tech Zone.The theme of this summit is "New Mission, New Challenges, New Opportunities".Focus on creating services for scientific and technological innovation and the transformation of scientific and technological achievementsA New Pattern of Open Cooperation in the Fund Ecosystem.The summit was organized in the format of "1 main forum + 3 parallel sub-venues",A combination of online and offline formats,Chengdu High-tech Zone Hosted the Second Batch of Angel Sub-fund Concentrated SigningAngel Mother Fund Ecosystem Partner Signing,Angel Sub-Fund Investment Projects Centralized Signing,High-level forums, project roadshows, and other series of activities.At the summit,CR Therapeutics, Huaxing Dadi,Seven high-quality technology innovation enterprises, including ChipPower and Xingzhe AI, signed investment cooperation agreements with angel sub-funds to complete a new round of equity financing, raising approximately 500 million yuan. Among them, CR Therapeutics, the first biotech company incubated by Chengdu Minshan Cell Engineering Technology Research Institute, focuses on the research and development of next-generation universal cell therapies, including novel universal therapeutic cell vaccines and in vivo CAR-T.

More than 130 venture capital institutions, top angel mother funds in China, angel investors, major innovation platforms, technology startups, and representatives of various angel investment associations attended the event.

Newly Signed 10 Angel Sub-Funds

The scale of the Angel Fund cluster exceeds 10 billion yuan

Following the concentrated signing of 9 fund managers (GP) at the 2022 China Angel Investment Summit, Chengdu High-Tech Zone's Angel Mother Fund, at this summit, withCAS Star, Frees Fund, ZhenFund, Matrix Partners China, Yunqi Partners, Clearflow Capital, Pine Capital, Northern Light Venture Capital, Boyuan Capital, Lushi Investment10 Fund Managers (GP) Sign Contracts in a Centralized Manner`, Scale`Over 6 billionYuan。

The batch of sub-fundsFocus on细分 sectors such as integrated circuits, innovative drugs, metaverse, in-vehicle intelligence, industrial software, and consumer electronics. Aim for the goal of investing in all high-end enterprises to build independently controllable "China Chip," "Innovative Drugs," "Smart Cars," and "Future Net."。

• Chengdu High-tech Zone is accelerating the construction of the largest district (county)-level angel mother fund in China.

Over the past year, Chengdu High-tech Zone has signed contracts with 19 fund managers (GPs), forming an angel fund cluster with a scale exceeding 10 billion yuan; it has also established cooperative relationships with 18 of the top 20 early-stage venture capital institutions in China, achieving nearly full coverage of cooperation with leading institutions nationwide.

• Chengdu High-tech Zone Launches Public Solicitation for Angel Sub-funds to Focus on 21 Key Industrial Chains Including New Display, Integrated Circuits, Industrial Software, and High-end Medical Devices, Leveraging Innovative Capital to Seize the Frontiers of Technological Innovation and Capture the High Ground of Industrial Development.

Chengdu High-tech Zone Angel Mother Fund has successively won five national honors, including the "Top 10 Best Angel Guidance Funds in China for 2023" by Rongzhong, ranking among the top-tier angel mother funds in China.

“

Mingshi Capital focuses on new energy, high-end manufacturing, AI software technology, and other fields. Li Auto is a representative project of our in-depth investment incubation, with continuous investments through seven rounds starting from the angel round. We have noticed that Chengdu High-Tech Zone is a region equipped with both software and hardware as well as manufacturing capabilities, along with one of the world’s top electronic information industry chains and talent densities. We believe more world-class technology companies will emerge from here.

We are willing to work with Chengdu High-tech Zone to find disruptive opportunities brought by technological variables.

——Representative of the signing investment institution, Partner of Matrix Partners, Jiao Teng

”

It is worth mentioning that,

Chengdu High-tech Zone is implementing

A Total of 300 Billion Yuan Industrial Development Fund Plan

Currently, an industrial fund cluster with a scale of over 100 billion yuan has been formed.

Eight Ecosystem Partners Sign Agreements in Concentration

Let the Angel Sub-fund be established early, invest early, and take effect early.

At the summit, Chengdu High-Tech Zone Angel Mother Fund, Shenzhen Angel Mother Fund, Chengdu Sichuan Airlines Fangfu Investment Management Co., Ltd., Chengdu Productivity Promotion Center, Peking University Chengdu Research Institute, Xinhua Innovation Center, Tianfu Jiangxi Laboratory, Tianfu Jincheng Laboratory (Frontier Medical Center), Sichuan Development Industry Guidance Equity Investment Fund Management Co., Ltd.Eight Ecosystem Partners Sign Agreements in Concentration, jointly build a "three-haves" fund ecosystem with capital, projects, and services.

As early as April this year, Chengdu High-tech Zone signed a cooperation memorandum with the China Insurance Asset Management Association to introduce insurance funds as "fresh water" through the association's efforts to alleviate the "fundraising difficulties."

Chengdu Hi-tech Zone Centralized Signing of Strategic Agreements with Angel Mother Fund Ecosystem Partners: Forming a Capital Contribution Linkage Mechanism with China's Top Angel Mother Funds and Provincial/City Funds to Accelerate the Establishment of Angel Sub-funds, Ensuring Early Establishment, Early Investment, and Early Results, Making "For Investment, Come to Chengdu Hi-tech" a Consensus in the Venture Capital Industry.

Photography Six Grains

As one of the first national high-tech zones in China, Chengdu Hi-Tech Zone is accelerating the development of new innovative research institutions such as Tianfu Jiangxi Laboratory, Tianfu Jincheng Laboratory (Frontier Medical Center), Peking University Chengdu Research Institute, Xinhua Innovation Center, and Minshan Research Institute, incubating and nurturing a vast number of..."Golden Seed" Project, providing a steady stream of high-quality project channels for innovative capital, striving to achieve "all quality projects will be invested if ready."

As of now,"Golden Seed" projects such as CR Therapeutics, Youjia Technology, and Tas Technologies have attracted attention from venture capital institutions like Legend Capital, INNO Angel Fund, and Chengdu Science and Technology Investment, securing a total of 240 million yuan in equity financing.。

Photography by Yang Xingzhao

Next, Chengdu High-Tech Zone Angel Mother Fund

Will also collaborate with the manager of the National Green Development Fund,

Suzhou Angel Mother Fund, Chengdu Science and Technology Investment,

Chengdu Jiaozi Financial Holding, Sichuan Venture Capital,

Sichuan Runheng, Sichuan Juxin and other institutions

Sign the Strategic Agreement for Ecological Partners,

Continuously expand the Angel Mother Fund ecosystem.

Seven Sci-Tech Innovation Enterprises Reach On-Site Equity Financing Agreements

Chengdu Hi-tech Zone Accelerates the Creation of a High-tech Industry Investment Hub

Angel investment is the 0-1 process of scientific and technological innovation, while industrial investment is the 1-10, 10-100 process for science-driven enterprises. Chengdu Hi-Tech Zone is accelerating the improvement of this ecosystem."Angel-Venture Capital-Industry Investment-M&A-Private Placement" Fund Jungle, deeply implement the "Investment in All That Should Be Invested" action plan,打通形成从科技创新到产业发展的投资链条，实现基金和项目能退出、有接续的生态。

From January to September 2023, more than 120 sci-tech innovation enterprises in Chengdu High-tech Zone received various types of equity financing, surpassing the total number for the entire year of 2022. The number of enterprises receiving investment increased by 25% year-on-year.

The continuous accumulation of innovative capital keeps driving the scientific and technological innovation and industrial development in Chengdu High-tech Zone. At the summit, companies such as CR Therapeutics, Huaxing Dadi, Xinchu Wei, and Traveler AI...Seven high-quality technology innovation enterprises sign investment cooperation agreements with angel sub-funds, Completing a New Round of Equity Financing。

“

Chengdu High-tech Zone has provided us with great assistance and support in terms of scientific researchers' entrepreneurship and the transformation of scientific and technological achievements. Our company is the first biotechnology project incubated by the Minshan Cell Engineering Technology Research Institute, which is part of the first batch of projects under the Minshan Action Plan, and is also a project invested in by the first angel sub-fund of Junlian Capital, which collaborates with Chengdu High-tech Zone's Angel Mother Fund.

It can be said that Chengdu High-tech Zone is the ‘water’, and we are the ‘fish’. Only with vast water can there be big fish. I believe the ‘living water’ of Chengdu High-tech Zone will certainly nurture more ‘big fish’.

——Representative of the invested company, Yang Hanshuo, founder of CR Therapeutics

”

Photography by Hai Tao Jiang

At the summit,"2023 Annual Chengdu Active Investment Institutions Contribution List"And"2023 Annual List of Active Angel Investors in Chengdu"Synchronized revelation.The list uses the number of investment cases, the amount of investment, and the comprehensive strength of investment institutions and angel investors in Chengdu as evaluation criteria. A total of 20 investment institutions and 20 investors were selected, injecting fresh vitality into Chengdu's venture capital circle.

A professionally comprehensive industrial fund system builds up the scientific and technological innovation potential and advanced manufacturing chain-strengthening advantages of Chengdu High-Tech Zone.

In the first half of 2023, the region achieved a regional GDP of 153.59 billion yuan, a year-on-year increase of 5.8%. A large number of high-level innovative talents and high-quality innovative enterprises have accelerated their gathering.

As of now, it has attracted 26 academicians, over 1,100 national and provincial-level talents, and a total of 800,000 professionals. It also gathers 483 innovation platforms at or above the provincial level, 4,320 high-tech enterprises, with the total number of specialized and sophisticated "little giant" enterprises reaching 106. Additionally, it has nurtured a cumulative total of 62 listed companies, ranking among the top in central and western China.

Photography by Zhanzhan Xia

Next, Chengdu High-tech Zone will continue to strengthen the ecological construction of the "PI—IP—IPO" innovation chain, deeply implement the "Eight Major Action Plans" for scientific and technological innovation, such as the Pilot Scale-up Action Plan and the Full Investment Action Plan, and accelerate the creation of an innovative talent gathering area with national influence, an original technology source, a preferred site for pilot testing of scientific and technological achievements, and a demonstration zone for high-quality development led by innovation-driven initiatives in China.

Source: Chengdu Hi-tech, etc.

E.N.D