On May 9th, 2017, the seminar and annual forum of SDIC Chuanghe National Venture Capital Fund for Guiding the Development of Startup Companies in New Sectors was held in Beijing. The theme was "Developing New Industries and Creating New Engines". SDIC Chuanghe National Venture Capital Fund for Guiding the Development of Startup Companies in New Sectors was unveiled at the meeting, marking that the investment and management work of the fund entered into a new stage. Chairman Wang Huisheng, related officials of Ministry of Finance and National Development and Reform Commission, the warden of Shunyi District, Beijing Gao Peng and President of Postal Savings Bank of China Lv Jiajin attended the forum and delivered speeches.

 

  Established under the approval of the State Council and guided by financial fund of the central government, the venture capital fund aims at attracting social investment, promoting startup companies in new sectors through venture capital investment, facilitating mass entrepreneurship and innovation, accelerating the development of emerging industries as well as upgrading industries. The fund focuses on the development of innovative startups in new sectors in initial and early stages and on the strategic deployment of China's innovation-driven development. In July 2016, SDIC Chuanghe (Beijing) Fund Management Co., Ltd became one of the management organizations of the venture capital fund, raising a total of 17.85 billion yuan. 

 

  SDIC set up SDIC Chuanghe (Beijing) Fund Management Co., Ltd (hereinafter SDIC Chuanghe) in November 2015 as a management organization for the development of mother funds and the venture capital fund.

 

  In July 2016, SDIC Chuanghe became one of the management organizations of the venture capital fund under the approval of the State Council and raised 17.85 billion yuan. In addition to Ministry of Finance, powerful organizations such as SDIC, Beijing Municipal Engineering Consulting Corporation, Post Savings Bank of China, Beijing Shunyi Technology Innovation Group, China Citic Bank, SFUND and Hangzhou Hegang also contributed to the venture capital fund. Then SDIC Chuanghe effectively and orderly ran the fund. Up to the end of April 2017, it had decided to invest in 40 sub-funds involving 28 billion yuan and promised to offer 4.5 billion yuan. Currently, the assets managed by SDIC Chuanghe have reached 24 billion and are evolving into a management organization for VC mother funds.

 

  Wang Huisheng, Chairman of SDIC, delivered the opening speech. He pointed out that SDIC resorted to private equity funds as a way to develop strategic emerging industries and strove to develop fund business that reached 146.5 billion yuan. Thus SDIC formed its core competitiveness. It also had rich experiences in guiding funds and mother funds management. Chairman Wang Huisheng, on behalf of the sponsors, thanked the competent departments and investors for supporting the venture capital fund in all phases from preparation and establishment to operation. He hoped that the venture capital fund could commit to implementing national policies and adhering to market-oriented operation. That is how the fund can promote emerging industries in China and come up to the expectations of the sponsors with good performance.

 

  Related officials of Ministry of Finance emphasized that the venture capital fund made for an important move in the optimization of resource allocation of the central government. The venture capital fund integrated policy guidance and commercial reasonableness. Thus the government could invest in programs instead of allocate funds and social investment could be attracted. This would improve the efficiency of financial fund and expand effective investment. This would also help to implement national strategies and to achieve win-win results for both the government and the market. He hoped that the management organizations could do well in investment running.

 

  Related officials of National Development and Reform Commission pointed out that setting up the venture capital fund and accelerating the development of venture capital investment were an important move in implementing innovation-driven development strategy and promoting mass entrepreneurship and innovation, which could be of strategic importance to the development of emerging industries. As VC mother funds with policy nature of national level, this venture capital fund needs to not only implement national strategies, but also to be operated on the basis of the market. All sponsors and managers should jointly work for the healthy development of the fund and stimulate innovation and entrepreneurship of the whole society, creating new achievements amid the new normal of China's economy.

 

  President of Postal Savings Bank of China Lv Jiajin, on behalf of the fund investors, introduced the cooperation model of Postal Savings Bank of China and investment organizations and congratulated the venture capital fund for raising enough money and officially entering into the phase of investment running. He hoped that the investment organizations would give full play to their advantages, make progress through excellent investment operation and achieve win-win results for the fund investors and managers.

 

    Gao Peng, the warden of Shunyi District, Beijing, delivered a speech and promised that Shunyi District would escort for the venture capital fund as the local government and one of the investors.

 

  Renowned specialists, scholars and investors attended the forum and delivered speeches concerning macro economy, venture investment and industry dynamics. Wang Changlin, vice president of Chinese Academy of Macroeconomic Research, delivered a speech concerning emerging industry dynamics. He stressed on industry dynamics of the new generation of information technology, biotechnology, medical treatment and health, new energy, energy conservation and environment protection. Gao Shanwen, chief economist of Essence Securities, expressed opinions concerning de-leveraging of financial markets and making capital move from industrial entity to virtual industry.

 

  Lei Jun, chairman and CEO of Xiaomi Technology, expressed his opinion about internet plus promoting the transformation and upgrading of China's manufacturing. Hou Xiaonan, general manager of open platform department of Tencent, introduced the five platforms Tencent Maker Space had to create. Yu Rong, chairman of Meinian Onehealth Healthcare (Group) Co., Ltd, analyzed the new business models of health industry and forecasted the investment trend of the industry. Xiong Xiaoge, chairman of IDG Capital Partners, shared his idea about the trend of venture investment industry and his investment philosophy.

 

  Liu Wei, general manager of SDIC Chuanghe (Beijing) Fund Management Co., Ltd, on behalf of the fund management organizations, reviewed the history of SDIC Chuanghe team embarking on business of venture capital and mother funds. He also expressed his prospects for the growing trend of mother funds and introduced the investment portfolio SDIC Chuanghe had already established. He said that SIDC Chuanghe would commit to building a diversified professional management platform, integrating with outstanding investment organizations in various industries and developing leading enterprises of emerging industries. Thus they would repay the investors with excellent management performance.