Qingdao Yongwan High-Tech VC Fund, the first high-tech VC fund in Qingdao City, was established with the corpus of USD 14 million.
The fund will aim for investment in small- and medium-size high-tech enterprises engaged in the new energy, new material, new technology, as well as TMT and biopharmaceutical industries.
In addition, Weifang VC fund, established by Qingdao Yongwan High – Tech VC Fund and Weifang Binhai Development Zone government, entered into the fund-raising stage and will start operating in November. Qingdao Yongwan High-Tech VC Fund also plans to co-operate with the local government to establish VC fund to help small- and medium-size enterprises.
