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A New 10-billion-yuan Industrial Development Fund is Established in Shandong

Source：Haibao News 11-03-2023 14:25:00

Recently, a high-quality industrial development fund was officially established in Shandong Province. The fund is led by Shandong New Growth Drivers Fund Management Co., Ltd. (referred to as "Shandong New Growth Drivers Fund") and established jointly with Lucion Group and the municipal and district governments of Jinan.

It is reported that the target size of the fund is 10 billion yuan, with an initial scale of 2.5 billion yuan. The fund will focus on investing in key industries such as new-generation information technology, high-end equipment manufacturing, new energy, advanced materials, and pharmaceuticals within Shandong Province's "11 iconic industrial chains." Additionally, it will also invest in the four leading industries and six industrial communities in Jinan.

The fund has a lifespan of seven years, with a three-year investment period and a four-year exit period. It aims to invest in innovative startups, with a minimum investment ratio of 50%. Meanwhile, priority will be given to projects that promote high-end, intelligent, green, and cluster-based development.

In terms of investment regions, the fund has the flexibility to select high-quality projects for investment nationwide while meeting the requirements for reinvestment in the fund under the guidance of the provincial, municipal and district governments.