On October 8, members of the University of Toronto 021 Entrepreneurs Group Alumni Association were invited to attend the opening ceremony of the 2023 Changzhou Science and Technology Trade Fair in China, where they established the Changzhou New Energy Industry Investment Fund. This fund is positioned as a secondary sub-fund under the Longcheng Science and Technology Innovation Development Fund, alongside existing industrial investment and angel investment guidance funds. The establishment of this fund marks the initial formation of the Longcheng Science and Technology Innovation Development Fund’s “1+3+X” parent-subsidiary fund system, significantly promoting the high-quality expansion of the Changzhou government’s guided fund matrix.
The Changzhou New Energy Industry Investment Fund was initiated by the Changzhou Municipal Finance Bureau, Changzhou Investment Group, New Energy Group, and Industrial Investment Group, among other municipal state-owned enterprises, with the Changzhou Government Investment Fund Management Co., Ltd. serving as the fund manager. With a total scale of 5 billion RMB and an initial scale of 1 billion RMB, the fund aims to attract social capital through equity participation in market-oriented sub-funds and direct project investments. It will focus on all aspects of the new energy industry chain, including generation, storage, transmission, and usage. The fund seeks to leverage equity investment to strengthen industrial chains and build clusters, contributing to Changzhou's development as the "Capital of New Energy."
