The strategic cooperation signing ceremony of the Xiamen FTZ Pioneering Secondary Fund. [Photo/WeChat account of Xiamen FTZ]
The China venture capital innovation forum and the launch ceremony of Xiamen Free Trade Zone's distinctive venture capital fund were held in Xiamen on March 28.
During the event, the first national publicly-listed company Corporate Venture Capital (CVC) fund, known as the Xiamen FTZ Pioneering Listed Company CVC Fund, and the first Secondary Fund in Fujian province, known as the Xiamen FTZ Pioneering Secondary Fund, were officially launched.
The dual distinctive venture capital funds will focus on key industries in the free trade zone, such as aviation services, cross-border e-commerce, shipping and logistics, international trade, and integrated circuits.
The Xiamen FTZ Pioneering Secondary Fund has a target size of 20 billion yuan ($276 million), with an initial scale of 5 billion yuan. It has set up relevant development policies to encourage industrial exchanges, reward investment returns, promote talent introduction, and establish green channels for transactions.
The fund aims to improve how fiscal funds are operated, improve the private equity fund ecosystem, and position Xiamen as a trading hub.
On the other hand, the Xiamen FTZ Pioneering Listed Company CVC Fund aims to accelerate the cultivation of new productive forces and incubate emerging industries. With a target size of 100 billion yuan and an initial scale of 10 billion yuan, it is recruiting trusted management institutions globally to collaborate in driving industrial development.
Currently, the Xiamen FTZ is constructing the free trade international fund port, aiming to establish an aggregation area for renowned parent funds and private equity investment funds from home and abroad.
The strategic cooperation signing ceremony of the Xiamen FTZ Pioneering Listed Company CVC Fund. [Photo by Lin Yuyang for ftz.xm.gov.cn]