Angel investment guiding fund blooms

It is learned from the departments concerned that since its establishment three years ago, the angel investment guiding fund in Ningbo has invested 88.57 million yuan in 100 projects, attracting various social capital volume of 980.5 million yuan.

Recently, the Yunbai E-business Corporation became the 100th project to get the investment from the angel investment guiding fund, with a total investment of one million yuan from the fund. According to a person in charge from the company, the investment helps to solve the capital bottleneck problem timely for the company. "The early involvement of the angel fund helps the company to enter the expressway for development and thus attract more capitals." said Yu Jieqiaong, CEO of the Xingbo Biological Technology Co. Ltd., which attracted a venture investment of 30 million yuan in mid-2015.

Yunbai E-business and Xingbo Biologic Technology are the two examples for the angel investment guiding fund to help attract social capitals for the transformation and upgrading and the rapid growth of the local enterprises. The latest statistics show that the fund has covered all the districts and counties in Ningbo. Among all the involved enterprises, two have been listed in the New OTC Market, seven are in the process of application for listing, 14 have received two rounds of financing, seven have an estimated value of over 100 million yuan and 23 of over 10 million yuan, and 12 have been selected as the "3315" projects or as the leading innovation or entrepreneurial teams. The investments are mainly in such fields as the new-generation information technology, creativity and design, energy-saving and environmental protection, life and health, new materials, new energy sources, and new equipment. There are 54 new-generation information technology projects and 14 new equipment projects.

To guide the private investment to the entity economy and high-tech enterprises, and to promote the economic transformation and upgrading and stable and rapid economic development, Ningbo took the lead in China to build the "angel city" in 2012. Accordingly, the angel investment guiding fund was established in January 2013. It is the first government-established angel investment guiding fund operated in the corporation form, and the total scale of the fund was to reach 500 million yuan within five years.

According to a person in charge of the fund, it is hoped that more investors and investing agencies will join in the program to give full play to the abundant private capitals and promote the development of new ventures and innovative enterprises.

LINK:	http://en.nbwh.gov.cn/art/2015/12/3/art_1325_76947.html...
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