Shanghai Technology Venture Capital (Group) Co., Ltd.

On August 18, 2014, with the approval of the Shanghai Municipal Government, Shanghai Technology Venture Capital (Group) Co., Ltd. was officially inaugurated through the strategic restructuring of Shanghai Technology Investment Company (established in December 1992) and Shanghai Venture Capital Co., Ltd. (established in August 1999). After the restructuring, the Group had total assets of RMB 30 billion and managed capital of RMB 50 billion, making it one of the largest state-owned venture capital institutions in Shanghai and even the whole country, entrusted with the important mission of advancing the construction of Shanghai's globally influential "Science and Technology Innovation Center".
Under the leadership of the municipal party committee and municipal government, and with the specific guidance of the Municipal State-owned Assets Supervision and Administration Commission and the Municipal Development and Reform Commission, the Group, based on the overall development of Shanghai, seized the historical opportunity of fully implementing the strategy of building a globally influential "Science and Technology Innovation Center", focused on Shanghai's strategic emerging industry sectors, adhered to the "guiding" positioning, grasped "market-oriented" operation, emphasized "platform" construction, and provided "value-added" services. Targeting the development path and investment and financing industry chain of science and technology-based small and medium-sized enterprises, the Group continuously explored and improved the "fund of funds" entrusted management model with Shanghai characteristics that was first established in China, built a new venture investment and financing platform featuring "government guidance, social participation, expert management, and risk sharing", and played a demonstrative and leading role of government funds and state-owned venture capital companies in filling market gaps.