Shenzhen Capital, state-backed manufacturing fund launch $4b new materials vehicle

Source: Xi Wang/Unsplash

China’s state-owned national manufacturing fund and venture capital firm Shenzhen Capital have teamed up to launch a new materials fund with a corpus of 27.5 billion yuan ($4 billion), the VC firm announced on WeChat on September 11.  

Besides Shenzhen Capital and the 147.2 billion yuan ($22 billion) national manufacturing fund, its limited partners include Shenzhen Municipal Government Investment Fund, new economy-focused Kunpeng Capital and Shenzhen’s Luohu district investment fund.

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