On December 28, 2020, Beijing Zero2IPO Hejia Phase II Investment Management Partnership (Limited Partnership) was established in Beijing, with a total scale of CNY 2 billion and an initial scale of CNY 500 million. It will primarily invest in fund shares and projects in the fields of hard technology and high-end equipment manufacturing, with 80% of its capital to be invested in fund shares. Zero2IPO Group, the fund manager, is a well-known comprehensive service platform and investment institution for entrepreneurship and investment, and has managed eight funds of funds (FOF).

Relevant policy

Official Reply of the State Council on the Working plan for Deepening a New Round of Comprehensive Pilot Projects of Further Opening up the Service Sector, and Building a Comprehensive Demonstration Zone for Further Opening up the National Service Sector in Beijing (Guo Han [2020] No. 123)

Extended Reading

On December 10, 2020, China Securities Regulatory Commission (CSRC) officially approved the pilot on transfer of equity investment and venture capital shares in Beijing Equity Trading Center. This signifies the official kick-off of China’s only share transfer pilot of its kind in Beijing. The pilot program provides an effective new exit channel for private equity funds, which will subsequently help broaden exit channels for equity investment and venture capital, form a virtuous ecosystem of "fundraising, investment, management, and exit" in the industry, smooth out the circulation of capital, and promote the flow of capital. It will help attract more "patient capital" (long-term capital) to support innovation and development of Beijing.