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Q&A of the Industrial Investment Guidance Fund of Shanghai Municipal Government

Answer
In recent years, the government investment fund approved by governments at all levels has formed a large scale, which has played an important role in innovating the use of financial funds, guiding the development of emerging industries and leveraging social capital investment. Among them, the main districts and counties of Shanghai have issued district level industrial fund management measures and set up district level industrial guidance fund accordingly. The management methods of each district mainly include registration place, sub fund scale, management team scale and quality, past investment exit project, return investment requirements, exit mode, investment proportion, investment mode, etc. So, let us know more about the guiding fund together!

Q:
What is "industry investment guide fund"?
A:
According to the guidance on the standardized establishment and operation of venture capital guidance fund (hereinafter referred to as the "guidance") jointly issued by the national development and Reform Commission, the Ministry of Finance and the Ministry of Commerce in 2008, the guidance fund is a policy fund established by the government and operated in a market-oriented manner, mainly through supporting the development of venture capital enterprises and guiding social funds into the field of venture capital. Guide the fund itself not to directly engage in venture capital business. In a broad sense, the guiding fund is a policy fund set up by the government. Government industry guiding fund, venture capital guiding fund and innovation guiding fund for small and medium-sized technological enterprises are all guiding funds. In a narrow sense, the guiding fund mainly refers to the government venture capital guiding fund.

Q:
What are the guiding funds of national government industry?
A:
The national government guidance fund is mainly sponsored by the national ministerial units or central enterprises, with an average target size of 63.6 billion yuan. The state-level government guidance funds can be divided into three categories: (1) the funds launched by SASAC, mainly for the reform of state-owned enterprises, including two funds for the reform of state-owned enterprises and four funds for collaborative innovation, with the scale of funds accounting for almost half; (2) the funds led by ministries and commissions, jointly developed with major central enterprises; (3) the funds led by central enterprises.

Q:
What is Shanghai Venture Capital Guiding Fund?
A:
Shanghai municipal government funded industrial guidance fund adopts a management system in which decision-making, evaluation, daily management and operation are separated, and the leading group of guiding fund works shall perform decision-making management responsibilities; under the Shanghai development and Reform Commission, a leading group office shall be set up to take charge of daily affairs; an independent expert evaluation committee of guiding fund shall be established to independently carry out the investment plan of guiding fund Review; the competent management organization shall be responsible for guiding the fund's daily investment operations such as fund raising, investment, post investment management, liquidation and withdrawal.

Q:
Which institutions are responsible for the supervision of Shanghai Venture Capital Guiding Fund?
A:
Shanghai venture capital guidance fund is a policy fund established by Shanghai municipal government and operated in a market-oriented way, mainly including Shanghai venture capital guidance fund and Shanghai angel investment guidance fund. The fund is mainly managed by Shanghai Science and technology venture capital (Group) Co., Ltd. (hereinafter referred to as "Shanghai Science and technology venture capital"). In 2014, Shanghai Science and Technology Investment Co., Ltd. and Shanghai Venture Capital Co., Ltd. strategically restructured, under the direct supervision of Shanghai SASAC.

Q:
Which industries and fields that Shanghai venture capital guidance fund will be favoured?
A:
The industries supported include seven strategic emerging industries, including energy conservation and environmental protection, new generation information technology, biology, high-end equipment manufacturing, new energy, new materials and new energy vehicles (refer to the guidance catalogue of key products and services of strategic emerging industries issued by the national development and Reform Commission for details), as well as artificial intelligence, cultural creativity, high-tech service industry, agricultural science and technology, etc Key industries to be developed.

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