Hunan Tv & Broadcast Intermediary Co.Ltd(000917) march 19 announced that in order to further strengthen the company’s investment business, the company and Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. (hereinafter referred to as “Dachen Caizhi”) plan to jointly invest and establish small and medium-sized enterprise development fund (Beijing) Dachen Technology (limited partnership) (tentatively named, hereinafter referred to as “Dachen Technology Fund”).
It is understood that there are two tentative partners of Dachen Technology Fund, of which Hunan Tv & Broadcast Intermediary Co.Ltd(000917) is a limited partner with a subscribed capital of 150 million yuan; Dachen Caizhi is the general partner, with a subscribed capital contribution of 50 million yuan. After the registration of Dachen technology fund is completed, it will raise funds from social professional institutions, and the total scale of the fund is expected to be no less than RMB 2 billion. The fund will focus on high growth enterprises in intelligent technology and life science.
Hunan Tv & Broadcast Intermediary Co.Ltd(000917) said that the investment and establishment of Dachen technology fund is in line with the company’s strategic development direction, and strengthening Dachen’s leading advantage in venture capital fund management is conducive to consolidating the company’s investment business and further improving the company’s comprehensive competitiveness.
The announcement shows that Dachen Caizhi has been selected as the proposed cooperative management organization of the third batch of sub funds of the National SME development fund Co., Ltd. in mid December 2021. After the establishment of Dachen science and technology fund this time, the subsequent contribution of the national small and medium-sized enterprise development fund Co., Ltd. shall not exceed 30% of the total share of the fund. Dachen Technology Fund will be Dachen Caizhi’s first fund with a national fund as the cornerstone investor. It is also an important strategic measure for Dachen Caizhi to invest in the field of science and technology. The investment strategy will focus more on the field of hard science and technology.
Hunan Tv & Broadcast Intermediary Co.Ltd(000917) according to the relevant person in charge, at present, the scale of Dachen Caizhi management fund has exceeded 36 billion yuan, invested in more than 650 enterprises, and successfully withdrew 234, of which 122 enterprises are listed, and a total of 96 enterprises are listed on the new third board. It has won the “top 50 best venture capital institutions in China” of Qingke for 21 consecutive years.
“With the opening of the Beijing stock exchange, Dachen has once again reaped the reform dividend of the capital market with years of accumulation and deep cultivation in science and technology investment.” The relevant person in charge of the company said. According to statistics, among the invested enterprises of Dachen, there are 62 national “specialized and special new” enterprises, accounting for 1.3% of the total, with a cumulative investment of more than 2.5 billion yuan, and 16 listed and pre disclosed enterprises.
Hunan Tv & Broadcast Intermediary Co.Ltd(000917) relevant person in charge said that since 2021, Hunan Tv & Broadcast Intermediary Co.Ltd(000917) adhered to steady growth, changing track and promoting reform, focused on the new strategy of “culture, tourism and investment”, fully turned losses into profits, and the whole fundamentals have undergone fundamental changes. Among them, Dachen, as the company’s profit ballast, continued to make new breakthroughs in fund-raising, investment, exit and other indicators. Next, Dachen will pay close attention to the word “asset management”, focus on the layout of fixed growth and other innovative businesses, firmly promote the investment business, extend the industrial chain, and upgrade to building a large asset management platform.
