Established in 2019, Pudong's tripartite venture capital system — the Pudong Science and Technology Innovation Fund (S&T Innovation Parent Fund), the Pioneering District Industrial Development Fund (Pioneering District Fund), and the Pudong Startup Investment Fund (Pudong Angel Fund) - demonstrates a unique "Science and Technology-Industry-Finance" cycle.

Since its inception in October 2019, the S&T Innovation Parent Fund has aligned seven sub-funds onto six core industries, commanding 15 billion yuan ($2.1 billion). It has invested 5.37 billion yuan into 123 projects that have stimulated roughly 50 billion yuan in social investment. Its focal sectors are integrated circuits, biomedicine and medical equipment, and artificial intelligence and aerospace. A significant 77 percent of the funded ventures are Pudong-based, and 55 percent of the project providers have applied to the Science and Technology Innovation Board within three years, producing seven public offerings so far.

Formed in 2022, the Pioneering District Fund has cultivated three industry-guiding parent funds. In the foreseeable three-year timeframe, these funds are set to control an estimated 100 billion yuan in sub-funds for Pudong, securing at least 30 billion yuan in capital - a striking tenfold growth from initial investments. Simultaneously, the fund accentuates the digital economy and contemporary mobile information industry by contributing to the 10-billion-yuan Shanghai Digital Transformation Industry Fund and the 10-billion-yuan Shanghai S Fund.

Registered in July, the Pudong Angel Fund holds a 2 billion yuan capacity. It advocates an "early, small, hard" investment ethos and amplifies Pudong's momentum in technological ingenuity and industry clustering. In conjunction with various venture institutions and projects, the Pudong Angel Fund has garnered over 132 prospects, handpicked 26 promising startups, and propelled eight investments involved in the biomedicine, smart manufacturing, and artificial intelligence sectors.

A view of Lujiazui area, the financial center in Shanghai. [Photo/VCG]