China has launched three new venture capital funds aimed at investing in “hard technology” industries, according to state broadcaster CCTV. Each fund has finalized capital contributions exceeding CNY 50 billion, the report said.
The funds are designed to back early-stage startups, with investment targets individually valued at under CNY 500 million. A government official stated on Friday that no single investment from these funds will exceed CNY 50 million.
Investment will focus on companies engaged in areas such as integrated circuits, quantum technology, biomedicine, brain-computer interfaces, aerospace, and other key hard technology sectors. By contrast, “soft” technologies, such as internet services, are not the primary targets for these funds.
