Weekly Industry Funds | Xiamen Launches a 10-Billion-Yuan State-Owned Industrial Investment Fund of Funds; Nanjing University Establishes a Technology Commercialization Fund

Recently, multiple industrial funds have been rapidly launched nationwide. Among them, Xiamen Guoben State-Owned Industrial Investment Fund, with a scale of 10 billion yuan, focuses on cutting-edge sectors such as intelligent manufacturing, next-generation displays, and new materials. Nanjing University has established its first dedicated technology commercialization fund, bridging a critical gap in the industrialization of on-campus research outcomes. Additionally, at the CVC Industry-Ecosystem Integration Conference held in Shenzhen Guangming Science City, 11 CVC industrial funds were signed in a batch.

Overall, this week’s industrial funds have shown clear characteristics of state capital leadership, integration of industry and finance, and a focus on hard tech. Their operational model has become increasingly active, with new highlights emerging in university-local government co-established funds dedicated to commercializing scientific and technological achievements, and investment stages shifting further toward the early stage.

Xiamen launches a RMB 10-billion state-owned industrial investment mother fund

Recently, Xiamen Guoben State-Owned Industrial Investment Fund Partnership (Limited Partnership) was officially established. With a total scale exceeding RMB 10 billion, the fund was jointly capitalized by Guotou Company—a subsidiary of Xiamen State-Owned Capital Company—and six municipal industrial groups: Xiashang Group, Luqiao Group, Qinggong Group, Anju Holdings, Information Group, and Municipal Group.

According to reports, Guosheng Fund, under Xiamen State-Owned Capital Company, serves as the general partner and fund manager. In terms of investment strategy, the fund will focus on three main pillars: investments in major industrial projects, collaborations with CVC industrial sub-funds, and market-oriented investments, with particular emphasis on frontier sectors such as intelligent manufacturing, next-generation displays, and new materials.

Hefei establishes an emerging industry development fund

Recently, the Hefei Xingtai Emerging Industry Development Promotion Fund was formally established with a size of RMB 1 billion. It was jointly initiated by Xingtai Holdings, Hefei High-Tech Zone, Yaohai District, and Feixi County, with Xingtai Capital serving as the fund manager. The fund will primarily target Hefei’s strategic emerging industries, including new energy vehicles, next-generation information technology, high-end equipment and new materials, biopharmaceuticals, and high-end medical devices.

By 2026, the ‘Opinions of the General Office of Hefei Municipal People’s Government on Further Promoting High-Quality Development of Municipal Funds’ explicitly outlined a systematic framework for three thematic fund clusters centered on technological innovation incubation, expansion of emerging industries, and development of future industries. Among these, the ‘Emerging Industry Development Promotion Fund’ focuses on Hefei’s leading and pioneering industries, playing a leading and supportive role in backing major industrial projects and building an industrial ecosystem.

Nanjing University launches its first dedicated fund for commercializing scientific and technological achievements

Recently, Nanjing University established its first venture investment fund dedicated to incubating original technologies developed within the university—the Nanyong Technology Commercialization Venture Investment Fund. Co-founded by Nanjing University, Nanjing Venture Capital Group, and Qixia District, the fund focuses on early-stage, small-scale, and hard-tech investments, targeting innovation projects from faculty, students, alumni, and industry-academia-research collaborations to bridge the critical gap between laboratory research and industrial application.

For a long time, cutting-edge research outputs from universities have commonly faced challenges such as funding shortages in the startup phase and inefficient pathways to market commercialization, causing many original technologies with industrial potential to stall at the initial stage of transformation. According to reports, this dedicated venture investment fund for technology commercialization will address the university’s shortfall in early-stage innovation capital. Through a dual-driven model combining incubation and investment, it will provide foundational financial support for hard-tech innovation projects originating within the university, prioritizing original hard-tech ventures in strategic emerging fields and efficiently converting strengths in basic research into core industrial competitiveness.

Fosun Intelligent Manufacturing Industrial Fund Established

Recently, the Fosun Intelligent Manufacturing Industrial Fund was established with a total size of RMB 1 billion. The fund will focus on industrial chains including artificial intelligence, intelligent manufacturing, robotics and automation, and new energy smart connected vehicles. It will pursue both merger & acquisition and equity investments in the intelligent manufacturing sector and related emerging technology fields, prioritizing high-quality enterprises with strong growth potential and industrial synergy value.

According to reports, the fund will be managed by Fosun Capital, employing an investment strategy combining minority stakes and controlling interests. It will target domestic growth-stage companies while actively identifying overseas enterprises with advanced technologies, leveraging capital as a catalyst to facilitate the establishment of headquarters, regional R&D centers, or manufacturing bases of portfolio companies in Chongqing.

Jiangxi Establishes a Sci-Tech Innovation Industrial Fund

Recently, the Jiangxi Chuangzhi Future Science and Technology Innovation Industry Guidance Fund completed its registration, with a total committed capital of RMB 2 billion and an initial paid-in capital of RMB 500 million.

The fund is led by Jiangxi Provincial State-owned Capital Operation Holding Group Co., Ltd. and managed by Jiangxi Guokong Private Equity Fund Management Co., Ltd., with a 20-year term. It is a provincial-level sci-tech innovation fund specifically targeting early-stage hard-tech enterprises. Its investment scope will cover twelve key industrial chains, six future-oriented industries, and nine priority sectors. While primarily focusing on enterprises within Jiangxi Province, the fund will also moderately expand into out-of-province sci-tech innovation enclaves and collaborative R&D platforms to drive the introduction, localization, and commercialization of advanced technologies.

Shenzhen Signs Agreements for MultipleCVCIndustrial Funds

Recently, according to Kunpeng Capital of Shenzhen, at the Guangming Science City Industrial-Innovation Integration CVC Ecosystem Conference, Kunpeng Capital signed an agreement with Guangming District of Shenzhen to jointly launch the Guangming Kunpeng New Energy and Advanced Materials Industrial Fund.

The Guangming Kunpeng New Energy and Advanced Materials Industry Fund was jointly established by Kunpeng Capital and Guangming Science & Technology Development Group. The fund will focus on key segments of the industrial chain, including advanced battery materials, photovoltaic materials, semiconductor materials, and high-end manufacturing. According to reports, a total of 11 corporate venture capital (CVC) industry funds were signed during the Guangming Science City Industrial Innovation Integration CVC Ecosystem Conference.

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