China has launched three venture capital funds to invest in “hard technology,” state broadcaster CCTV reported on Friday. Each fund has over 50 billion yuan ($7.14 billion) in capital contributions.
Focus on Early-Stage Startups
The funds will mainly target early-stage startups valued at under 500 million yuan. Officials said no single investment will exceed 50 million yuan.
Targeted Technology Areas
The funds aim to support firms working on integrated circuits, quantum technology, biomedicine, brain-computer interfaces, aerospace, and other critical hard technologies. In contrast, “soft” technologies, like internet services, are not the focus.
