Xi Venture Capital establishes seed fund

　　On March 17th, Wuxi Innovation and Entrepreneurship Seed Fund completed its business registration and establishment, with a fund size of 50 million yuan. This marks another stage of "forward" extension of the Xi Venture Capital Fund system, which will better support the development and growth of seed and budding technology innovation and entrepreneurship enterprises, and support the "first mile" of local science and technology innovation. To better solve the problem of 'difficulty in initial investment' for technology-based enterprises in the seed and start-up stages, we must further expand the investment coverage of early-stage projects. Seed funds highlight 'early and small investment' and are the best tool, "said Wang Zhixing, Co President of Xicheng Venture Capital. Seed funds mainly invest in strategic emerging industries, as well as future industries with forward-looking, pioneering, and exploratory major key technologies. The key support objects of seed funds are: first, award-winning projects or winning project teams from innovation and entrepreneurship competitions at or above the city level; second, professors and expert teams from various universities and research institutes who have successfully transformed and implemented scientific research achievements; third, outstanding university student entrepreneurship teams, including overseas students, doctoral students, etc.; fourth, high-end scientific and technological talents with independent intellectual property rights. As a sub fund of angel guided funds, seed funds will further extend their service chain, amplify leverage effects, achieve seamless integration of capital and projects, and help accelerate the growth of technology-based small and medium-sized enterprises in Wuxi.

　　Extended reading: Angel Fund's annual "report card" has been in operation for more than a year. Wuxi Angel Guidance Fund has submitted an impressive annual "report card" - as of now, Angel Fund has completed 58 direct investment projects, 34 equity projects have been approved, and 27 equity projects have passed the review. Among them, 17 projects have completed equity investment, with a total investment of 85 million yuan. Angel Fund also strengthens cooperation with various sectors, jointly establishing sub funds to form a regional resource "aggregation force". At present, sub funds in Jiangyin and Yixing sectors have been put into operation, and cooperation funds between Angel Fund and other sectors such as Binhu District and Huishan District are being implemented and promoted. At the same time, the first socialized sub fund of Angel Fund was established in 2022 and has completed funding for four projects. With the strong growth of a group of technology companies, the role of angel funds in strengthening technology finance support in Wuxi has become increasingly evident. After more than a year of operation, it has attracted many top professional investment institutions to support technology-based startups in Wuxi, and has also established an early investment ecosystem in Wuxi, injecting more surging momentum into local technological innovation. Next, Angel Fund will fully rely on the technology industry resources of various districts, counties, and sectors under the jurisdiction of the city, and link seed funds, sector sub funds, and market-oriented sub funds. Through the guidance of state-owned capital and market-oriented operation, while deeply exploring high-quality projects, Angel Fund will invest in early, small, and hard science and technology, making greater contributions to the scientific and technological innovation and high-quality economic development of our city.