Guangzhou launches 200b yuan fund of funds in Nansha

An inaugural ceremony of the funds of funds (FOF) for Guangzhou's industrial and innovation investment, and of the Guangzhou Industrial Development Research Institute was held on Feb 18, under the guidance of the Guangzhou government.

At the event, Nansha government, Guangzhou Industrial Investment and Capital Operation Holding Group signed a strategic cooperation agreement. The group also signed cooperation agreements with representatives from 11 enterprises, 11 investment institutions and 11 industrial parks respectively.

The FOF for Guangzhou's industrial investment, with a total capital of 150 billion yuan ($21.87 billion), settles in Nansha district in the form of a company. The fund will be used to invest in key industrial sectors such as semiconductors and integrated circuits, new energy, biomedicine and healthcare, advanced manufacturing and new-generation information technology.

The FOF for Guangzhou's innovation investment, with a total capital of 50 billion yuan, is also set up in Nansha and takes the form of a limited partnership. This fund will be used to support innovation, entrepreneurship and their transformation of results.

In addition, the Guangdong Industrial Development Research Institute is expected to bring together academic experts, scientific research units, leading institutions and other top resources to jointly support Guangzhou's industrial development.

An inaugural ceremony of the FOF for Guangzhou's industrial and innovation investment is held. [Photo/WeChat account: nanshafabu]