On December 26, the National Venture Capital Guidance Fund was officially launched. The National Development and Reform Commission held a special press conference. At the meeting, Bai Jingyu, director of the Innovation and High-tech Development Department of the National Development and Reform Commission, said that the positioning of the National Venture Capital Guidance Fund has four characteristics: the first is to insist on being an early-stage fund. Today's leading technology companies are all former seed companies and startups. These seed companies and startups are growing well and have broad prospects, but at the same time, they are also quite risky and uncertain. Social capital is generally concerned about them, but is wary of investing. In response to this problem, guide the fund to focus on seed stage, startup period, and early to mid-term enterprises to focus on cutting-edge fields and carry out original and disruptive technical research; the second is to insist on being a patient fund. The growth and growth of science and innovation enterprises is a protracted marathon. It requires the patient support of capital to guide the fund to set a 20-year survival period, including a 10-year investment period and a 10-year exit period. Through a longer investment period, it also provides enterprises with a long-term capital supply through a more relaxed exit mechanism; the third is to maintain market-based development space; fund. The central government invests in setting up venture capital guidance funds, which requires an integrated balance between policy goals and market-based principles; fourth, it is a benchmark fund. Guide funds do not make repeated investments, do not compete with the market, and focus on solving the long-term shortage of capital in the venture capital industry.

On December 26, the National Venture Capital Guidance Fund was officially launched. The National Development and Reform Commission held a special press conference. At the meeting, Bai Jingyu, director of the Innovation and High-tech Development Department of the National Development and Reform Commission, said that the positioning of the National Venture Capital Guidance Fund has four characteristics: the first is to insist on being an early-stage fund. Today's leading technology companies are all former seed companies and startups. These seed companies and startups are growing well and have broad prospects, but at the same time, they are also quite risky and uncertain. Social capital is generally concerned about them, but is wary of investing. In response to this problem, guide the fund to focus on seed stage, startup period, and early to mid-term enterprises to focus on cutting-edge fields and carry out original and disruptive technical research; the second is to insist on being a patient fund. The growth and growth of science and innovation enterprises is a protracted marathon. It requires the patient support of capital to guide the fund to set a 20-year survival period, including a 10-year investment period and a 10-year exit period. Through a longer investment period, it also provides enterprises with a long-term capital supply through a more relaxed exit mechanism; the third is to maintain market-based development space; fund. The central government invests in setting up venture capital guidance funds, which requires an integrated balance between policy goals and market-based principles; fourth, it is a benchmark fund. Guide funds do not make repeated investments, do not compete with the market, and focus on solving the long-term shortage of capital in the venture capital industry.