Shanghai starts operation of venture capital funds policy

 Reporter held in Shanghai from yesterday Venture Capital Fund at the exchange was informed that preparations for over a year, Shanghai Venture Capital Fund into the operation of the substantive stage. March of this year, the fastest are concentrated in information technology, the first two major areas of biomedical venture capital fund is expected to sign a framework agreement.

back in October 2009, the National Development and Reform Commission, Ministry of Finance signed a cooperation agreement with Shanghai in the integrated circuit design, biological medicine, new energy, new materials, software and information services to the joint establishment of five major areas five venture capital funds, national and local matching funds of 1:1. Since then, the City Development and Reform Commission has reported the establishment and operation of programs to guide the Fund and received by the municipal government executive meeting. Last March, the first batch of 10 billion fund of funds of funds in place. Last month, Venture Capital Fund.

Municipal Development and Reform Commission official says, the city for the current existence of independent innovation system bottlenecks, the establishment of the Venture Capital Fund, established by the Government and market-oriented manner in accordance with the policy fund targeting financial resources to play the leverage amplification, leveraging private capital to invest in Shanghai's future focus of the seven strategic focus on the development of new industries and guide private capital to invest in early and middle. Particularly emphasized in the mechanism design

learned that since the end of last year, Shanghai Venture Capital Fund website launched, the city official opening of venture capital funds and reporting procedures, the industry return for venture capital funds showed high enthusiasm, there are 30 number of fund companies landed up in the official website, there is a formal declaration has been made. The first time the application materials submitted to the February 22 deadline, and then into the investigation, evaluation phase, expected by the end of March will be selected Shanghai venture capital fund companies signed a framework agreement. (Liberation Daily)