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With the support of Torch High Technology Industry Development Center of the Ministry of Science and Technology (hereinafter referred to as the “Torch Center”) and Shenzhen Stock Exchange (SZSE), “Suishi Xinghuo” Venture Capital Alliance (hereinafter referred to as the “Alliance”) was officially launched at SZSE on April 12, 2017. The Alliance is founded with dependence on the “Technology SMEs Growth Roadmap Plan 2.0” (hereinafter referred to as the “Roadmap Plan 2.0”) and has the first accession of 20 well-known venture capital instructions on its launch. Director of the Torch Center Zhang Zhihong, General Manager of SZSE Wang Jianjun, and senior executives of the 20 VC institutions attended the launch ceremony.
According to the sponsor, the Alliance was jointly set up by the initiator “Roadmap Plan 2.0” and a batch of know VC institutions. It is designed to enhance the resource sharing and information exchange among VC institutions, strengthen VC institutions’ business connection with external resources, and build a VC ecology featuring resource sharing and win-win cooperation, thus further serving the national innovation drive strategy.
It is said that the “Roadmap Plan 2.0” was initiated by the Torch Center, SZSE and other institutions and was officially launched on October 30, 2014. Relying on the technology financial information service platform and the basic database of technology enterprises, the plan is developed to achieve information sharing, process interconnection and function complementation among governmental departments, hi-tech parks, capital market, VC institutions and specialized third-party service intermediaries so as to provide technology SMEs with all-round full life-cycle financing and comprehensive services. After two-year operation, the technology financial information service platform has covered 25 provinces and autonomous regions, 15 national independent innovation demonstration zones, 66 national hi-tech zones, 22 equity trading centers and gathered 2,500 technology innovation and entrepreneurship enterprise and more than 8,000 profession investors from over 3,000 investing institutions including VC/PE and listed companies. Accordingly, it has primarily constructed a platform of connecting investment and financing information that combines open, online and offline services of public interest.
In his speech, SZSE General Manager Wang Jianjun expressed that venture capital is an importance force driving innovation and entrepreneurship development and has delivered many quality innovative enterprises to SZSE. For years, VC institutions and SZSE have supported each other and grown together. After its establishment, the Alliance will further deepen the partnership between SZSE and VC institutions, thus elevating the capacity of the multi-tiered capital market to serve innovative enterprises. In addition, by centering on serving innovation and entrepreneurship, SZSE will further improve the multi-tiered capital market system and increasingly extend its service chain so that the innovative capital created by VC ecology and SZSE will become a center and the innovation and entrepreneurship capital ecosystem will integrate, therefore contributing to China’s innovation and entrepreneurship development.
At the launch ceremony, Director of the Torch Center Zhang Zhihong said that as a unit directly under the Ministry of Science and Technology, the Torch Center mainly takes charge of hi-tech industrialization and innovation & entrepreneurship environment construction. Through near three-decade development since inception, the Torch Center has formed a complete system encompassing 156+1 national hi-tech zones, more than 3,600 technology enterprise incubators, over 4,300 maker spaces for serving technology SMEs. After its establishment, the Alliance will be conducive to help the “Roadmap Plan 2.0” in operation better target at VC institutions’ common issues such as insufficient project source, unsmooth exit channel and deficient after-investment management and provide material value-added services for the business chain of “raising, investing, managing and withdrawing” venture capital, thus enhancing the level of serving hi-tech enterprises.
Representatives of the first-batch institutions of the Alliance including Jin Haitao, Managing Partner of Qianhai Fund of Funds, Deng Feng, Founder of Northern Light Venture Capital, and Kuang Ziping, Managing Founding Partner of Qiming Venture Partners, delivered speeches in succession. All agree that establishing the Alliance is an innovative move of the capital market to support technical innovation and enterprise management and is helpful for VC institutions and innovative enterprises to better use capital market platform to gain scale development.
After the launch ceremony, the Torch Center, SZSE and VC institutions had an informal discussion on how to strengthen the connection between capital market and VC institutions as well as the next work plan of the Alliance.
