New Moves of Shanghai Future Industry Fund - Open Selection of Sub-Fund Management Institutions

On January 20, Jinshi Data reported that according to the functions and positioning of the Shanghai Future Industry Fund, Shanghai Future Qidian Company, as the manager of the Shanghai Future Industry Fund, is now openly selecting sub-fund management institutions from the society. The application guide shows that sub-funds should generally be registered in Shanghai, except for overseas targets or Shanghai Future Industry Fund's subscribed capital to the sub-fund does not exceed 20% of the total subscribed capital of the sub-fund. In terms of the duration, the sub-fund's duration is generally not less than 7 years and does not exceed the remaining duration of the Shanghai Future Industry Fund. According to the requirements, the sub-fund needs to have a clear investment strategy, investment direction in line with the future industry development planning and orientation of Shanghai, with a focus on specific tracks and clear project reserves; sub-funds are encouraged to invest in future industry fields of hard technology projects in the conceptual verification, small-scale trial of scientific research results, and the initial stage of technological entrepreneurship.