Guangzhou Venture Capital Partnership launched

The signing event of the first phase Guangzhou Venture Capital Partnership (LP) was held on Feb 20.

At the event, Tong Hongmei, head of Guangzhou Venture Capital Partnership, signed contracts with investors such as Times China, and strategic cooperation agreements with several financial groups.

The fund is valued at 2 billion yuan ($300 million), with one billion in the first round of funding. The current contract amount has reached 470.1 million yuan.

Registered in May 2017, Guangzhou Venture Capital Partnership is an investment platform led by the Guangzhou Federation of Industry and Commerce, and participated in by a vast number of Guangzhou private enterprises.

It focuses on the IAB industry, new generation information technology, artificial intelligence, biomedicine and intelligent manufacturing. In 2019, it hopes to investment in projects and sub-funds, and actively cultivate a number of high-quality scientific and technological innovation projects.