Zheshang Venture Capital has recently initiated to establish the first equity investment limited partnership firm in Zhejiang Province and launched equity investment (fund) financing products entrusted to the Industrial and Commercial Bank of China (601398).

Zhejiang Zheshang Venture Capital Co., Ltd. and Zhejiang Zheshang Venture Capital Management Co., Ltd. have launched the Zheshang venture fund series and entrusted them to Zhejiang Branch of the Industrial and Commercial Bank of China. The first fund of the series - Zheshang Haipeng Fund is to raise RMB150 million for investment in excellent enterprises to be listed in China within one to two years. The fund specially focuses on high growth enterprises with great development potential and will realize a high return through invested companies' IPO. This creates for investors a simple approach to directly participate in venture equity investment and share enterprises' achievements.

Currently the fund is formally open to investors who can invest between RMB2 million and RMB20 million; the number of investors is limited to 48.