Baotou city adds new venture capital fund company

A new venture capital company – called Talent Innovation Venture Capital Fund Co -- was formally established in the city of Baotou, in North China’s Inner Mongolia autonomous region, with a fund of 50 million yuan ($7.45 million) fully put in place, according to a report by the Baotou Daily.

In addition, the new fund company is currently holding discussions with the governments of the region’s banners and counties on establishing a sub-fund for other related matters. The total size of the funding is expected to reach an estimated 200 million yuan.

Officials said the fund company will select 11 enterprises that meet the requirements of the Management Measures for Talents and Entrepreneurship Innovation in Baotou -- to conduct due diligence research and ultimately choose two to three companies to sign the first batch of investment letters of intent in mid-March.