Nearly 4 billion yuan of social capital was invested in start-ups

2022-06-14 0 By

In the past one year since its establishment, Suzhou Angel Mother Fund has set up 17 sub-funds and 68 investment projects, with an increase of 3.36 times of financial capital.Suzhou Angel Investment Guide Fund (hereinafter referred to as “Suzhou Angel Mother Fund”) has successfully listed three enterprises invested by the cooperative sub-fund.As one of the innovation-driven platforms in the city, Suzhou Angel Mother Fund has made remarkable achievements since its establishment on January 4 last year. By the end of last year, it has accumulated 17 decision sub-funds, leveraging nearly 4 billion yuan of social capital to participate in early investment, leveraging large scale effect and enlarging-up financial funds 3.36 times.At the same time, the voting and project approval of the sub-fund has basically achieved the city’s plate, investment industry “double coverage”.Angel investment is an important engine to realize economic innovation-driven development and an important way to cultivate high-tech enterprises and emerging industries.Angel investment has always been the weakest link of venture capital because of high investment risk and long recovery cycle.In order to make up for the shortcomings of venture capital investment and help the high-quality growth of enterprises in the seed and initial stage, Suzhou Angel Mother Fund was formally established on January 4 last year.Suzhou Angel Parent Fund mainly adopts the operation mode of “parent fund + sub-fund”. It is established by the Municipal government and jointly funded by the finance of the municipal level and 10 county-level cities (districts) of the city. The initial fund size is 6 billion YUAN.It mainly invests in sub-funds that invest in digital economy, next-generation information technology, high-end equipment manufacturing, new materials, semiconductors, new energy, energy conservation and environmental protection, biomedicine and other industries.Only four months after its establishment, 11 sub-funds signed a contract with Suzhou Angel Parent Fund as representatives at the Suzhou International Equity Investment Summit forum.Subsequently, Suzhou Angel Mother Fund actively contacted the sub-fund management team to introduce social capital for angel projects and enterprises in our city.By the end of last year, there were 40 decision-making sub-funds, covering all 10 sectors of the city.There are 17 sub-funds officially signed, with a total amount of 3.759 billion yuan to be raised. Angel parent funds plan to subscribe 1.119 billion yuan, with an average contribution ratio of 29.77%.The total investment projects are 68, among which 32 projects are invested in our city, accounting for 47%.The total investment is 59 seed stage and initial stage projects, including 27 seed stage and initial stage projects in Our city, accounting for 46%.Tuochuang Biotechnology (Suzhou) Co., Ltd. has just been listed on the list of 2021 “Unicorn” incubators in Suzhou.Founded in December 2019, Tuochuang biotech is a multifunctional antibody drug company with cutting-edge protein engineering technology. It focuses on oncology and autoimmunity diseases, and is committed to challenging the development of non-generic drugs and other innovative target drugs.As A biopharmaceutical start-up, Tuochuang Completed tens of millions of dollars of A+ round of over-financing in the first quarter of last year.Among them, the A1 round of financing was led by Suzhou Angel Mother Fund cooperation sub-fund Yuansheng Venture Capital, suzhou Angel mother Fund cooperation sub-fund Juming Venture Capital to participate in the investment.In addition to Tuochuang Biology, Suzhou Abobo Biotechnology Co., LTD and China Genomics (Suzhou) Co., LTD, invested by the Cooperative sub-fund of Suzhou Angel Mother Fund, have also been successfully listed in the list of “Unicorn” cultivation enterprises of Suzhou in 2021.”Adhere to early investment in small investment technology, the size of the sub-fund shall not exceed 500 million yuan in principle, the investment of the sub-fund shall be the first two rounds of external institutional investment or the establishment of the enterprise shall not exceed 5 years, and the number of employees shall not exceed 200, and the net assets or annual sales income of the previous year shall not exceed 20 million yuan.”Zhu Wei, general manager of Suzhou Angel Fund, introduced the investment principles of Suzhou Angel Fund.”From the current decision of the sub-fund, science and technology attributes are strong, closely linked with industry or science and technology.”Zhu Wei introduction, there are 3 support fund and the third generation of semiconductor research institute of jiangsu province, changshu such as LCD, Shanghai jiaotong university, suzhou institute of intelligent national center for technology innovation, new technologies such as source unit set up r&d institutions, is beneficial to early intervention and looking forward to follow up on the latest technology direction of future industry, common support the growth of high quality projects;The 7 sub-funds have been jointly established with bohe BT-IT Fusion Innovation Center, Yangtze River Delta Smart Innovation Science park, Suzhou Industrial Park Biological Industry Park, Suzhou High-tech Zone Medical Equipment Industry Park and other technology entrepreneurship incubation carriers and industrial parks to lock potential science and technology projects in advance and jointly accelerate the implementation and transformation of scientific and technological achievements.At the same time, sub-funds target sophisticated areas.It is reported that Taiyue Capital is engaged in early stage investment work in Silicon Valley in the United States, and the team has introduced nearly 20 projects for Kunshan.”By cooperating with them, we can introduce high-quality Silicon Valley entrepreneurial projects and talents to our city, and provide industrial resources docking for the investee enterprises in our city.”Zhu Wei said.In the future, Suzhou Angel Mother Fund will further optimize the investment strategy of Angel mother Fund by focusing on the key industrial layout under the new situation in Suzhou, and moderately inclines to innovation clusters such as big institutes, new RESEARCH and development institutions, listed companies and national incubators.For the future emerging industries, we will further play the role of angel mother fund detector, achieve “pioneering”, speed up the transformation of kinetic energy, and enhance the core competitiveness of Suzhou innovative industries.”In the past one year since its establishment, we have leveraged nearly 4 billion yuan of social capital and increased fiscal funds 3.36 times.”Suzhou city finance bureau “praise” Suzhou angel mother fund to run a year’s results.According to reports, in order to maximize stimulate the vitality of social innovation and entrepreneurship, angel mother fund set up due diligence exemption and fault tolerance mechanism.At the same time, the angel mother fund set up two incentive mechanisms of buyback and profit transfer for the subsidiary fund. According to the completion of the return investment task of the fund manager, the angel mother fund set a positive and powerful standard of profit transfer.In this background, the choice of the management team for the fund not only in theory, focusing on potential contribution to suzhou, around the emerging industry chain layout, familiar with professional fund industry and the next generation technology team, such as focus on gene therapy, high-end consumable materials, the third generation of semiconductor materials and other fields, for suzhou innovation to accelerate the false start layout.Currently, Suzhou Angel Fund has formed a trinity of government, shareholder units and management team.The company has won many awards, such as “TOP2 government guide funds concerned by GP in China”, “TOP20 best venture capital guide funds in China” and “TOP50 government guide funds in 2021”, “TOP30 best mother fund investors”, etc.It is reported that the next step, Suzhou Angel mother Fund will actively strive for cooperation with national and provincial mother fund, to form a good situation of multi-layer linkage of national, provincial, municipal and social capital, and actively introduce capital flow, project flow and industrial resource flow for the city to accelerate the formation of innovation clusters with international competitiveness and global influence.Disclaimer: This article is reproduced for the purpose of conveying more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn