WND launches 10b-yuan industrial fund

The CITIC Securities and SAIC Motor Innovative Manufacturing Industry Fund is launched in the Wuxi National Hi-tech District on May 28. [Photo/WeChat account: xinwu_wx]

The CITIC Securities and SAIC Motor Innovative Manufacturing Industry Fund was officially launched in the Wuxi National Hi-tech District on May 28.

The fund, with a target size of 10 billion yuan ($1.57 billion), will focus on the industrial development of high-end equipment, intelligent manufacturing, intelligent networking, semiconductors, artificial intelligence, intelligent networks, industrial internet, and information security.

The first phase of the fund is valued at around 6 billion yuan and will mainly focus on innovative development related to the automotive industrial chain.

Wuxi Party Secretary Huang Qin attended the signing ceremony and urged related government departments to provide high-quality business services to the two enterprises.

In August 2000, WND established the first equity investment fund in Wuxi -- Wuxi High-tech Venture Capital Co -- with a target size of 100 million yuan. The company mainly invests in technology-based enterprises and has developed many listed enterprises.

WND is now home to 119 equity investment funds of various types, of which 11 are newcomers in 2021. The fund amounts to a total of 61 billion yuan.