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Shenzhen Venture Capital Prospers
A venture capital company in Shenzhen signed a contract with two Singapore investors to invest US$50 million in venture capital for high-tech projects all over China.
It is the first contract signed with foreign investors at the Second Chinese High-Tech Fair which opened Thursday.
In the second phase of the venture capital program, the fund will increase to over US$100 million, according to the contract.
More than 300 venture capital investors will participate in the six-day fair, according to statistics from the organizer. It is expected that the overseas investment in high-tech projects will surpass US$1.445 billion brought in at the last fair.
Shenzhen Venture Capital Co. Ltd, the Chinese contractor of the program, is one of the largest venture capital companies in China. The company has earned some 50 million yuan (US$6.024 million) in the first half of the year. In the next three years, the company will have about 5 billion yuan (US$602 million) capital under its control.
As Shenzhen plans to launch the capital market, and China will enact laws and regulations in the field, Shenzhen venture capital will enter a good environment for development, said Kan Zhidong, manager of the company.
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