Nov 14, 2014 (China Knowledge) – Beijing E-Town, a triple-A rated industrial park, held a conference cum press briefing on Oct 29 to launch its Fund of Funds (FoFs). The conference, co-sponsored by Beijing E-Town International Investment and Development Co., Ltd and Beijing Private Equity Association, attracted over 300 representatives from the financial and hi-tech industries.
Within this FoFs; mainly funded and manage by E-Town Capital, it has developed 8 sub-funds that support and finance a series of cutting-edge industries within the industrial park that include integrated circuit, bio-pharmaceutical, aerospace and modern services industries. It is expected that the FoFs, in future, will realize over RMB 10 billion in fund size.
One such leads is the Beijing Aerospace Industry Investment Fund, one of the eight sub-funds founded by E-Town Capital and China Aviation Investment Holding on Jan 2010 that focuses on the development of aerospace industry with over RMB 4 billion in size.
Another by E-Town Capital with Guotai Junan Innovation Investment Co and Beijing Yizhuang International Biomedical Investment Management Co., Ltd is a RMB 500 million fund that invest in biological medicine industry. Its primary investment is focus on bio-medicine industry; especially, the monoclonal antibody, recombinant protein, new vaccine and the diagnostic reagent. It also invests in medical equipment, senior citizen welfare services and private hospitals.
Zhongguancun Modern Service Venture Capital Fund that was recently launched last Oct seeks opportunities in the TMT (telecom, media and technologies), energy-saving and environmental friendly, and high-tech services industry. The local government contributed RMB 150 million and another RMB 450 million by the cooperative VC institutions.
Strategically, the Beijing E-Town has formed eight industrial clusters including integrated circuit, mobile communication, digital TV, and cloud computing industry with over 9,000 enterprises set up in the industrial park. About 157 enterprises, each with annual output value of over RMB 100 million, and 415 other national high-tech enterprises have committed over US$ 40 billion in investments.
In financial sector, Beijing E-Town is actively accelerating the development of financial industry where it builds an interactive platform and exchange hub to enhance and boost its financial services that connect the financial institutions, government agencies and private enterprises. Its FoFs has contributed to the establishment of a science and technology innovation center in the capital.
The funds play a pivotal role for the area’s cutting-edge industries, and promote the transformation of scientific and technological achievements into marketable products and services; as well as, attracting talents and entrepreneurs.
Beijing E-Town International Investment and Development Co., Ltd, the ‘master planner’ and chief architect of the capital’s commercialization of research outputs and industry development funds, manages the investment, financial leasing and the overall operation of the highest-rated industrial park in the country.