actively deploying "early investment, small investment, and hard technology investment", state-owned capital has become the ballast stone of "patient capital"
2024-09-08
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"patience capital is an important pillar for supporting technological innovation and developing new quality productivity." at the main forum of the 2024 westart global venture capital conference on september 8, dai minmin, president of shanghai state-owned capital co., ltd., delivered a keynote speech entitled "guiding patient capital to promote the development of science and technology innovation."
dai minmin pointed out that technological innovation often involves high risks, large investments, and long cycles, and requires long-term and stable capital investment, namely patient capital.
what is patient capital? dai minmin said that patient capital needs to have three characteristics: adherence to value investment, long investment cycle, and the ability to make counter-cyclical arrangements. patient capital can provide a stable source of funds for technological innovation, support enterprises' long-term investment in r&d, innovation and market cultivation, stabilize the financial market and investment environment, improve the predictability of the investment environment, attract more long-term investors to enter the market, and promote the reform and healthy development of the capital market.
dai minmin pointed out that according to statistics, as of 2023, governments at all levels in china have actively "invested early, invested in small companies, and invested in hard technology", and comprehensively laid out various types of funds such as seed, angel, technology transformation, venture capital, and industry. the number of investment funds exceeded 2,000, with a target scale of about 12 trillion yuan, and the subscribed scale was about 7 trillion yuan. the proportion of state-owned capital in newly established funds has exceeded 80%. today, state-owned capital has become the ballast stone of "patient capital" in china.
dai minmin said that shanghai state-owned capital co., ltd. will continue to give full play to the functional role of state-owned capital, comprehensively cover scientific and technological innovation entities, and carry out substantive cooperation with a large number of first-class domestic universities, research institutes, national laboratories, and industry chain leaders. through professional platforms and market-oriented mechanisms, we will strive to open up the "last mile" of scientific and technological transformation. in addition, it is also actively building a scientific and technological innovation investment incubation platform, learning from and drawing on international advanced models such as "flagship" and "angel list", and building a future-oriented scientific and technological innovation investment incubation platform.
the paper reporter yu yan
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