As one of the important achievement of the 2nd World Internet Conference, Zheshang Wuzhen Internet Industry Investment Fund, an internet industry investment fund with scale of above RMB 10 billion Yuan, will be born. This is also the first internet industry fund with scale of over RMB 10 billion Yuan.
The fund is co-sponsored by Zheshang Venture Capital Co., Ltd., Tongxiang People’s Government and Zhejiang State-owned Capital Operation Co., Ltd. The cooperative agreement was officially signed on the Wuzhen Internet Conference in the morning of December 17th.
▲Contract signing Site
NO.1 ZSVC Takes Lead to Focus on Internet+
With total scale of RMB 10 billion Yuan, Zheshang Wuzhen Internet Industrial Investment Fund is expected to start official investment in June next year. The investment field will be focused on “internet+” related industry, mainly including medical treatment and health, internet finance, cultural entertainment and new media, intelligent hardware, O2O and new generation e-commerce and related industries and fields.
The fund, known as the largest internet industrial fund in Zhejiang Province, was composed of state-owned capital and private-owned capital and is expected to be a new model for cooperation of private capital and state-owned capital.
Zhejiang Province State-owned Capital Operation Corporation is a wholly state-owned company established upon approval of the provincial government with total assets of over RMB 120 billion Yuan.
As the most active Zheshang private capital in China, ZSVC is the first VC company to be listed on NEEQ and was dubbed as “King of Earnings” among NEEQ VC companies with management scales of over RMB 30 billion Yuan at present.
NO.2 Transnational Excavation and Cultivation of “Unicorn”
Wuzhen, an internet town and a watertown in south of Yangtze River, has become the focus of world new economy since it became the perpetual site of world internet conference and has significant impact on the development of world internet.
Zheshang Wuzhen Internet Industrial Investment Fund relies on the brand advantage of ZSVC and the unique regional resources and advantage of Wuzhen. How many “unicorn” will it discover and cultivate? how will it change the industrial structure of Zhejiang Province? How will it lead internet industry in China to win right of speech in the world?
With support of Zheshang Wuzhen Internet Industrial Investment Fund, ZSVC will help Tongxiang to build an internet fund characteristic town and develop national internet industry incubator and technical highland, cultivate a batch of transnational listed company in “internet +” field with unique competitive edge and high growth potential.
In the future, Internet Entrepreneurship and Innovation Competition with international influence will he held on regular basis to appeal and select outstanding entrepreneurship project from around the world. The selected outstanding project winner will become the reserved project resources of the fund and strive to build a batch of Chinese “unicorn”. In addition, on the basis of RMB funds, USD funds will be gradually be established to develop Zheshang Wuzhen Internet Industrial Investment Fund into global famous internet industrial investment funds.
NO.3 Internet + Funds Lead the Future of New Economy
As is well known, Internet has penetrated to every aspects of Chinese economy and national life and has play a critical role as the innovation engine in respects of economic forms, consumption mode, cultural transmission, public resources configuration and many other aspects.
“Internet +” represents a new economic mode and is becoming a next developing focus of Chinese economy. In addition, “Internet+” action plan has been established as national strategy. The country specially set up emerging industry VC investment guidance fund of RMB 40 billion Yuan to facilitate a new round big development of internet industry. On the background when the central government proposed of strengthening supply-side structural reform, internet consumption has become a new engine to drive GDP growth. Internet+ fund, by supporting rapid development of internet+ field with capital, will guide the future of new economy.
On this background, the birth and initiation of Zheshang Wuzhen Internet Industrial Investment Fund has various advantages in geography, timing and human condition. How will this 10 billion-scaled internet industrial fund give play to its resources superiority and leverage effect and lever the overall situation of internet industry in China in the next decade? The whole world is focusing on it with expectation.