The FOFWEEKLY recently released the ranking list of 2023 institutional investors in respect of soft power. The Qingdao Science and Technology Innovation Fund is shortlisted among the Top 20 China’s municipal-level FOFs in terms of soft power.

Since its registration in February 2020, the Qingdao Science and Technology Innovation Fund has approached projects intensively, boasted of more than 450 reserve sub-fund and direct investment projects and 70 sub-fund setup and direct investment projects, and managed a total of RMB20bln. Its well-established sub-funds maintain an efficient pace of investment and invested more than RMB2.2bln in a combined more than 120 projects. Almost 40% of the projects are based in Qingdao, involving a total amount of RMB870mln and covering emerging industries and futuristic industries including new-generation information technology, bio-pharmaceuticals and high-end equipment manufacturing. In return, one company has listed on HKEX and as many as 28 potential unicorn companies with a market capitalization of more than USD100mln each have emerged.  (Geng Tingting)