Innovation fund
Print Edition
The Grand neoBay Science and Technology Innovation Source Fund aims to channel more social capital into early-stage, small, long-term, and hard-tech ventures through a functional fund-of-funds. The initiative seeks to foster more competitive local hard-tech companies. The 10-billion-yuan (US$1.40 billion) government investment fund will involve strategic investment, new quality productivity, future industries, and industrial investment funds. They form a comprehensive matrix to support companies at every growth stage. The fund aims to create a “rainforest” ecosystem of parent and sub-funds by boosting its impact tenfold through central-local cooperation, district-municipal collaboration, and private capital.
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