On October 21, during the “Entrepreneurship and Innovation Week”, China’s first heavyweight angel mother fund— “ZGC Angel Mother Fund”, initiated and established by the ZGC Development Group that is also the main investor, was solemnly released at Bingo Café on Chuangye Street. 

“ZGC Angel Mother Fund” is managed by a fund management company set up by the ZGC Development Group, Peakview Parent Fund and THTI Hengye Investment. At present, the management team, after due diligent investigations on dozens of excellent angel funds, has decided to invest in Zhenge Funds, Jinshajiang VC and other famous angel funds.

The ZGC Development Group will lay a solid foundation for the development of the angel mother fund by virtue of its resource synergetic effects at home and abroad and its capability of clustering innovative and entrepreneurial factors; Peakview Parent Fund will make good use of its professional ability in investment decision-making, post-investment management and value-added services in the field of parent fund investment; while THTI Hengye Investment will give full play to its comprehensive advantages in the early-stage entrepreneurial service to support angel investment. The three enterprises will jointly push forward the development of angel investment.

The “ZGC Angel Mother Fund” totals 1 billion yuan, of which the first phase is of 300 million yuan. It will invest in 10-15 top angel funds in China, which is expected to drive angel investment of 2-3 billion yuan. It is designed to fully realize the “two-level amplification” function of the parent funds funded by state-owned capital, better promote the construction of ZGC techfin platform, and facilitate the improvement of ZGC innovation and entrepreneurship financial ecosystem. 

Angel funds is an important driver of America’s world leadership in innovation. China’s angel funds badly need more social capital to boost early-stage projects, and to lead the sustained development of innovation and startups.  

The “ZGC Angel Parent Fund” starts from the weakest part of domestic innovation and startup—Angel Investment. It will invest in a market-based way, select China’s first-class angel investment institutions, and cluster top investors. Eventually, it will create a new operation mode of angel parent fund by providing project sources, supporting high-quality projects, and assisting enterprises in listing/acquisition. It aims to build China’s first angel mother fund covering top innovation and start-up projects, provide the most tangible support and impetus for innovation and startups, accelerate innovation-driven development, embarking on a new era of mass entrepreneurship and innovation.