In a major move to strengthen Shenzhen’s tech innovation ecosystem, Luohu District has partnered with state-owned and bank-affiliated capital to launch two large-scale equity investment funds totaling 4 billion yuan ($550 million). The initiative is part of the city’s ongoing effort to expand pilot programs for Asset Investment Companies (AICs).

On June 27 and 30, Luohu District, in collaboration with Shenzhen Capital Holdings, ICBC Capital, and ABC Capital, officially launched the Shenzhen Qianfan Qihang Sci-Tech Private Equity Fundand the Shenzhen Gongrong Sci-Tech Private Equity Fund, each with an initial scale of 2 billion yuan.

Both funds will be managed by Shenzhen Capital Holdings and mark the largest AIC funds in Shenzhen to date in terms of size, speed of launch, and the level of municipal state-owned capital involvement.

The funds will focus on strategic emerging and future industries identified in Shenzhen’s “20+8” industrial development plan. These include new energy vehicles, high-end equipment, biomedicine, new materials, next-generation information technology, artificial intelligence, embodied robotics, and quantum information.

Using a market-oriented approach, the funds aim to provide full-cycle financial support for tech-driven enterprises—accelerating the commercialization of scientific breakthroughs and advancing industrial upgrading. The initiative is expected to strengthen the synergy between technology, industry, and finance, injecting fresh momentum into regional high-quality development.

This collaboration demonstrates three key values including mobilizing long-term bank capital, enhancing state capital leadership, and pioneering regional collaboration mechanisms.

ICBC Capital and ABC Capital bring large-scale, long-term financial resources from the banking system, which will now be channeled into hard-tech sectors through professional investment platforms.

Shenzhen Capital Holdings, the city’s state-owned capital operations platform, now manages a fund cluster exceeding 150 billion yuan, covering the entire “20+8” industry chain. The new funds further expand the strategic influence of public capital.

Luohu District is leveraging a unique model that integrates municipal and district-level state-owned enterprises with bank-affiliated AICs. This approach enables a full-cycle investment chain—from fundraising to exit—and offers a scalable model for other parts of the city.

Looking ahead, Luohu plans to further optimize its venture capital ecosystem by attracting patient capital, industrial capital, and international investment. Efforts will focus on developing the Sungang (Yuntou) Innovation Financial Headquarters Hub and building a modern industrial system with Luohu’s distinct advantages—contributing significantly to Shenzhen’s global innovation ambitions.