The operation trend of the City Angel Investment Guidance Fund is promising

　　The Wuxi Angel Investment Guidance Fund has been established and running for more than half a year, and has delivered a beautiful interim "report card": as of now, the angel investment fund managed by Wuxi Innovation Investment Group Co., Ltd. has submitted 17 direct investment projects such as Hongpeng Aviation, Moro Technology, and Muchuang Integrated Circuit for approval, of which 15 projects have been approved; Jiangyin Direct Investment Sub Fund has completed registration, and direct investment sub funds in Yixing, Xinwu and other sectors are also being vigorously promoted; The first market-oriented sub fund, Wuxi Dingqi Zhongsu Achievement Transformation Fund, which has settled in Binhu and focuses on the transformation of scientific and technological achievements of Jiangnan University, has completed two project investments; Shenzhen Qianhai Tongwei Capital and others have also come to negotiate cooperation... The seed of "early investment, small investment, and hard technology investment" planted by the City Angel Investment Guidance Fund with beautiful expectations has now emerged and shown promising growth.

　　As of now, Angel Investment Fund has submitted investment decisions for 8 projects, including Yikun Power and New Area Electron Beam, with a focus on exploring high-quality existing projects, all of which have passed the review. Among them, six projects including Saimi Kentuo, Shengya Medical, Guangyi Technology, Jingrongchuang Materials, Carbon Valley Technology, and Tuchuang Intelligence have completed investment. Angel round investment has a low success rate and high risk, and most investment institutions do not focus their main energy and financial resources on early-stage projects. However, Xi Venture Capital, which manages angel investment funds, understands the mission of state-owned enterprises as pioneers in promoting industrial transformation and high-quality economic development. Focusing on the '465' modern industrial system in our city, especially the five future industries, combined with the key development directions of the region, we need to cultivate suitable seeds in suitable soil in order to improve the success rate of investment, "said Zhang Weimin, Deputy General Manager of Xichuang Capital. Where can I find good projects? The higher the concentration of scientific research, the easier it is to find good projects. The angel fund manager visited new research and development institutions such as the Advanced Composite Materials Institute of the Provincial Industry Research Institute, Jiangsu Jicui Integrated Circuit Center, and Tsinghua University Wuxi Research Institute, and utilized roadshow platforms such as the Taihu Bay Angel Investment Club to accelerate the discovery of high-quality stock projects and improve investment efficiency. Tuchuang Intelligence was registered and established in Wuxi in April last year. Its core founding team comes from the University of Toronto and has a solid research foundation and leading technology in the field of 3D machine vision technology research and application. The self-developed deep hole inner wall 3D measurement equipment by Tuchuang Intelligent can measure deep holes of meters or more with an accuracy of micrometers; Our self-developed high-precision special 3D cameras, special robots, and unmanned automatic continuous casting system equipment have a positioning accuracy of better than 1 millimeter at a working distance of 5 meters. At the same time, 3D vision equipment can also be applied to special and extreme environments to replace manual operations. Our 3D vision equipment has been applied to many leading companies in the industry such as CGN, Liangxin Electric, Baowu Iron and Steel, and has been highly recognized by them, "said Ge Ji, co-founder and CEO of the company. In the early stages of development, enterprises can be described as "step by step alarming". If one link cannot keep up with R&D, small-scale testing, pilot testing, production, and capital return, it may lead to a complete collapse. In fact, some good projects have already reached the point where they can soar, and they are just short of using funds to build a running track. From negotiating with investors to receiving funds for the company, it takes no more than three months. Ge Ji highly recognizes the investment efficiency of angel investment funds. According to him, Tuchuang Intelligence will recruit more than ten R&D talents in the second half of the year and strive to achieve IPO within 8 years. The receipt of investment funds is undoubtedly a "timely rain" for the rapidly developing Tuchuang Intelligence, ensuring the funding needs of subsequent processes such as research and development, production, and delivery for the enterprise.

　　Blooming from multiple sources, the activation of sector investment by the parent fund and angel round investment pose high risks. However, as a government guided fund, the operation mode of angel investment funds focuses more on "cultivation". With a scale of 1.5 billion yuan, the parent fund will leverage more social capital to join, and through cooperation with various sectors and market-oriented entities, provide more sufficient capital support for start-up enterprises in Wuxi's innovation and entrepreneurship, thereby helping them rapidly grow and cluster for development. The establishment of sub funds has strengthened the investment team. Not long ago, Jiangyin Xingcheng High tech Entrepreneurship Investment Partnership Enterprise was established, which is a direct investment sub fund jointly established by Wuxi Guolian Jintou Hehe Private Equity Fund Management Co., Ltd. and Angel Investment Fund, with a total scale of 52 million yuan. The fund will focus on four investment directions: new generation information technology, intelligent manufacturing, new energy, and healthcare, accelerating the cultivation and development of strategic emerging industries. In addition, the upcoming Yixing sector direct investment sub fund has recently been approved for investment, with a total simulated size of 100 million yuan, focusing on the new generation of information technology, medical and health, advanced manufacturing, new energy and new materials, and other major strategic emerging industries in the country, with semiconductors as the main focus. At the end of July, the first market-oriented cooperation sub fund of Angel Fund, Jiangnan University Science and Technology Achievement Transformation Fund, was approved by the Angel Management Committee. Angel Investment Fund contributed less than 100 million yuan to three sub funds, driving nearly 400 million yuan in local and social investment. The coordinated approach of parent and sub funds not only revitalizes funds, but also cultivates investment talents for the sector. In the past, the sector also provided financial support to key industries, but due to the lack of a professional investment team, post investment management was often neglected, "said Zheng Yao, managing partner of Hehe Management Company. Zheng Yao was once a key investment talent at Xichuang Capital, with nearly 10 years of experience in angel investment and a mature investment system. From the backbone of the group company to the team leader of the mixed ownership management company, professional investors like Zheng Yao are entering various sectors in Wuxi to help train professional investment teams and gradually optimize the Wuxi venture capital environment from point to surface. While cultivating its own team, Xi Venture Capital is conducting global recruitment for high-end positions such as General Manager and Deputy General Manager, as well as open recruitment for partners, in order to introduce more high-end professional venture capital talents to Wuxi.

　　Accompanying and running through the entire investment service process, science and technology are constantly changing, and the demands of the industry are also constantly evolving. This provides opportunities for small and medium-sized technology-based enterprises that are lightweight and focus on segmented tracks to enter the competition. In fact, the transformation is not only about technology, but also about the full process services of investment. Investing in corporate equity is only the first step, and the entire chain and cycle of services from policies to funds are needed later. This type of service is a continuous investment that accompanies the development of the enterprise. According to Lu Zhihao, the investment manager of the fund department of Xi Venture Capital, in order to avoid disorderly growth of enterprises in the early stages of growth, many investors will participate in major decisions and daily management of enterprise development, providing them with advice and solving problems. The earlier and closer the support from the local area, the deeper and more loyal the enterprise will be to the local area. Many high-quality projects are not waiting for money to come, but are reverse screening capital. Recently, Wuxi Carbon Valley Technology Co., Ltd. received a 5 million yuan investment from Wuxi Venture Capital, which will be converted into important equipment for the company's production. Carbon Valley Technology, led by overseas academicians, uses natural gas one-step cracking technology to obtain carbon nanomaterials and high-purity hydrogen gas, which are applied in fields such as lithium batteries and hydrogen energy. This has significant implications for adjusting the energy structure and achieving carbon peak and carbon neutrality, and many investors are actively negotiating this project. We chose Xi Venture Capital not only because they have shown a strong willingness to invest in future rounds, but also because of their strong state-owned background and professional empowerment services, "said General Manager Xu Jianwei. Government guided funds can attract more investment institutions to focus on angel investments, while also allowing investment institutions looking for projects in the market to have earlier access to good early-stage companies. There are many good investment projects in Wuxi. After comprehensively reviewing the current stock of projects, we will attract high-quality projects from other places through investment, optimize Wuxi's investment ecosystem, and help local industries upgrade and transform and promote high-quality economic development, "said Zhang Weimin.

Article source: Cui Xinrun, reporter from Wuxi Daily