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investing 5.068 billion! 16 institutions including catl and industrial guidance funds in many places set up private equity funds, which attracted market attention.

on september 20, qichacha and other platforms showed that fujian times zeyuan equity investment fund partnership (limited partnership) (hereinafter referred to as fujian times zeyuan) was established, and the executive partner was xiamen puquan private equity fund management partnership (limited partnership). the partner information showed that the fund was jointly funded by 16 partners including catl, xiamen industrial guidance equity investment fund partnership (limited partnership), and citic construction investment co., ltd.

information from fujian times zeyuan shows that the 16 partners have invested a total of 5.086 billion yuan and will use their own funds to engage in investment activities. their business scope includes private equity funds engaged in equity investment, investment management, asset management and other activities.

as a leading new energy company, catl has joined hands with industrial guidance funds in xiamen, ningde, tongxiang, suzhou, luoyang and hubei province to establish this private equity fund. where will the huge investment be invested?

in fact, as early as september 9, catl’s announcement had already been disclosed.the partnership enterprise will serve as a fund with a term of seven years and will mainly invest in new energy and high-end manufacturing sectors. the proportion of investment in these sectors shall not be less than 60% of the total subscribed capital of the fund.

it is reported that the fund has just been established and has not yet been registered with the china securities investment fund association.

invest no less than 3 billion in new energy and high-end manufacturing

on september 9, catl announced that it had signed the "fujian times zeyuan carbon neutrality equity investment fund partnership (limited partnership) partnership agreement" with xiamen puquan private equity fund management partnership (limited partnership), shenzhen puquan investment co., ltd. and other partners on the same day. the company participated in the investment in "fujian times zeyuan carbon neutrality equity investment fund partnership (limited partnership)" as one of the limited partners. the company's subscribed capital amount was rmb 700 million, holding a subscribed ratio of 13.7633% of the fund.

catl stated that the fund is mainly engaged in venture capital and equity investment activities, investing in new energy and high-end manufacturing fields. the funds invested in the aforementioned fields must not be less than 60% of the total subscribed capital of the fund, which is 3.0516 billion yuan.

the total subscribed amount of the private equity investment is 5.086 billion yuan. in the previous announcement, nine partners have been identified, including xiamen industrial guidance equity investment fund partnership (limited partnership), xiamen torch industry equity investment management co., ltd., xiamen science city innovation equity investment fund partnership (limited partnership), tongxiang jinxin equity investment co., ltd., ningde huiju new energy equity investment partnership (limited partnership) and luoyang industrial development fund partnership (limited partnership).

the establishment information on september 20 showed that in addition to the above-mentioned partners, many local state-owned industrial platforms such as hubei tongfu venture capital management co., ltd., suzhou hi-tech sunshine huili equity investment partnership (limited partnership), beijing changping industrial development investment fund (limited partnership) and cicc have joined, and the number of partners has increased to 16.

in addition, catl also disclosed the investment progress, operating period, partnership purpose and management model in previous announcements.

in terms of the progress of capital contribution, the partners shall pay their subscribed capital in full in cash according to the notice of the managing partner. the subscribed capital of the partners shall not exceed two installments, of which the first installment shall not be less than 50% of the subscribed capital of each partner.

in terms of operating period, the partnership as a fund will last for seven years, calculated from the date of first delivery, of which the first four years are the fund investment period, and the fund's recovery period is from the end of the investment period to the end of the duration.

in terms of management model, xiamen puquan, as the executive partner and fund manager, is responsible for managing fund operations, executing the fund's external investment, post-investment management and investment exit, establishing an investment decision-making committee and advisory committee, and other related matters.

regarding the reason for participating in the establishment of this private equity, catl stated that its participation in this fund investment as a limited partner is mainly to rely on market-oriented mechanisms, combine the advantages of professional investment institutions, and expand the company's layout in the carbon neutral ecological field through equity investment. as well as expanding investment channels through a more market-oriented investment management team, exploring business cooperation and development opportunities, and obtaining reasonable investment returns, which is in line with the company's development and shareholder interests.

patient capital such as government investment funds is investing in equity

in the industry's view, there are two benefits for catl to establish this equity investment fund in collaboration with industrial guidance funds of multiple local governments and industrial funds under state-owned assets: first, it is conducive to its own industrial layout; second, it complies with regulatory requirements for patient capital to increase investment in the primary market.

since the central political bureau meeting held on april 30 this year proposed "actively developing venture capital and strengthening patient capital", cultivating equity investment patient capital has been mentioned repeatedly.

in june this year, after the general office of the state council issued the "several policy measures to promote the high-quality development of venture capital", at the regular policy briefing of the state council, relevant officials from four departments including the china government network, the china securities regulatory commission, the people's bank of china, and the exchange answered reporters' questions and proposed that three types of patient capital, insurance funds, bank funds, state-owned assets and government investment funds, be used to encourage central enterprises to use venture capital funds to invest early, invest in small and long-term projects, and invest in hard technology, and clarify the development path of the venture capital industry from the funding and project ends.

many local state-owned assets and government-guided funds have been established. for example, on september 7, at the opening ceremony of the 2024 pujiang innovation forum, shanghai announced that it would set up a future industry fund with a target scale of 10 billion yuan, investing early, small, long-term, and hard technology in a government-guided manner. the fund has a long-term layout and a duration of 15 years to build a continued investment ecosystem.

in addition to the establishment of state-owned and government investment funds, many established venture capital funds are also extending their terms. in june this year, the pudong science and technology innovation investment fund changed the fund's duration from 10 years to 12 years, including the investment period from 5 years to 7 years.

in addition, regulators have further stimulated the investment enthusiasm of state-owned assets by extending the duration of the guidance fund to give companies sufficient time to grow, improving the state-owned investment tolerance and exemption mechanism, and other measures.

it is worth noting that the enthusiasm of insurance funds and bank funds for participating in equity investment is also increasing. for example, ping an of china invested 94.49% in shenzhen zhengping private equity investment fund partnership (limited partnership), with a fund size of 10 billion yuan; picc capital, a subsidiary of picc group, and its sister companies established the picc modernization industry investment fund with a total size of 10 billion yuan; bank of china initiated the establishment of a 30 billion yuan science and technology innovation mother fund focusing on key areas such as artificial intelligence, quantum technology, and biotechnology.