SHANGHAI, July 24, 2023 /PRNewswire/ — Panlin Capital, a leading venture capital firm focusing on Chinese technological innovation, announced the successful closing of its 12th RMB-denominated main fund, “Chengdu Panlin Xiangxu Fund”. This fund is the first established by Panlin Capital in Chengdu, and it is another highly institutionalized RMB fund established by Panlin Capital after its Shanghai Science and Technology Innovation Flagship Fund.
Panlin Chengdu Xiangxu Fund is a strategic move made by Panlin Capital in Chengdu against market trends, with the support of both new and old investors. In addition to reinvestments from entrepreneur-represented veteran investors, the fund has also garnered support from institutional investors such as government-guided funds, national master funds, market-based financial institutions, and listed companies. These include local Chengdu institutions such as the Chengdu Productivity Promotion Center, which is a municipal-level science and technology start-up angel investment guidance fund, Chengdu Science Service Group, as well as CICC Genesis, a national emerging industry venture capital fund. Listed companies like Luzhou Laojiao (000568) and Eurocrane (603966) are also among the supporters.
In recent years, the structure of investors in Panlin Capital has been continuously optimized, especially with a significant increase in the proportion of institutional investors in the Panlin Chengdu Xiangxu Fund. This is of milestone significance for Panlin Capital: with entrepreneur-represented veteran investors serving as the cornerstone, complemented by government-guided funds, the two form the basis of Panlin’s fund-raising efforts. On top of this, listed companies and financial institutions are also introduced. The support from these different types of investors validates Panlin’s capabilities in terms of returns, reinvestment, and investment matching with industries. All of this is the result of Panlin’s deep cultivation and…