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Company News: The First Partner Meeting of West Fountain Parallel Fund was successfully held, Shenzhen Capital Group's globalization strategy accelerates


First partner meeting of West Fountain Parallel Fund

Invited by Chairman Kitao Yoshitaka of SoftBank Investment Holdings Co., Ltd., Ni Zewang, Chairman of Shenzhen Capital Group led the West Fountain Parallel Fund Management Team and Partner representatives, visited Japan from April 10, 2018 to April 14, 2018, held the first partner meeting of West Fountain Parallel Fund, inspected fund-related investment projects, and communicated in-depth with Japanese political and business people to speed up The strategic layout of Shenzhen Capital Group and West Fountain Parallel Fund in Japan.

On April 11, 2018, the partner representatives and management team of West Fountain Parallel Fund held a partner meeting in Tokyo and Karuizawa, Japan. West Fountain Parallel Fund is the largest parallel fund established and managed by Shenzhen Capital Group that focuses on overseas project investment, with a total scale equivalent to RMB 4 billion. West Fountain and its China parallel fund are engaged in domestic and overseas high-tech enterprise venture capital and cross-border mergers and acquisitions.

This meeting is the first partner meeting since the establishment of the West Fountain Parallel Fund. Ni Zewang, Chairman of Shenzhen Capital Group Group, Jiang Yucai, Vice President, Special Assistant to the Chairman of Shenzhen Capital Group and Li Li, Chief Partner of West Fountain Parallel Fund. West Fountain Parallel Fund partners representative Lv Hua, Chairman of Shum Yip Group, Zhou Guohui, Chairman of Eternal Asia Group, Liu Xiongjia, Vice President of Shenzhen International Freedom Group, Ye Zonggao, Chairman of Sanye Group, Peng Dehong, Chairman of Qianhai Hongpei Investment, and Wanrong Hongtu More than 20 people including Sino-US fund management partners, directors and investment teams attended the meeting. At the meeting, the manager of West Fountain Parallel Fund reported to the delegates on the operation and management of the fund in 2017, the financial investment situation and the work plan for 2018. The partners highly recognized the fund’s work in 2017 and fully affirmed the high-tech companies in the United States and Japan that the fund invested in 2017. They also fully affirmed the fund’s establishment and investment in less than one year. Appreciation of 100 million U.S. dollars and the substantial appreciation of the investment projects. Especially at the end of 2017, it invested in Grail, Inc., a well-known early cancer detection company in the United States, and stood out from the fierce competition with many top investment institutions in the world, proving the strong strength of the fund team. All partners hope that West Fountain Parallel Fund will continue to work hard and achieve better investment results in 2018.

During the subsequent inspection, Chairman Ni Zewang and his entourage successively investigated the well-known Japanese investment institution JAFCO Group and West Fountain portfolio company - Japan's famous emotional robot company Groove X, Inc., visited the Japanese Congress member Masato Imai, and Under the recommendation of Mr. Imai, he had an exchange with the representative of Sumitomo Mitsui Trust Bank of Japan. During the research and exchange process, the Japanese staff all expressed good wishes for in-depth partnership and look forward to working with Shenzhen Capital Group and West Fountain Parallel Fund to promote more investment partnership in 2018.

On April 12, 2018, Chairman Ni Zewang and his entourage had in-depth exchanges with Mr. Shinichi Fuki, CEO of JAFCO Group, a renowned Japanese investment institution, and personnel from outstanding robotics companies recommended by JAFCO Group.

Chairman Ni Zewang and his entourage visited West Fountain’s team, which has invested in Groove X, Inc., a well-known Japanese emotional robot company. The company’s CEO, Mr. Lin Yao, led all employees of the company to warmly receive the delegation and introduce them in detail. The company’s current achievements and future development plans.

Invited by Kitao Yoshitaka, Chairman of SoftBank, Shenzhen Capital Group Chairman Ni Zewang, Vice President Jiang Yucai, Special Assistant to the Chairman, Li Li, Chief Partner of West Fountain, and Lu Hua, Partner Representative of West Fountain Parallel Fund, Chairman and Chairman Zhou Guohui went to SoftBan. Shenzhen Capital Group and SoftBank have signed a strategic partnership agreement. The two parties will carry out all-round partnership in the following areas: SoftBank recommends its outstanding companies for investment and proposed investment in Japan and overseas to Shenzhen Capital Group and West Fountain Parallel Fund. Shenzhen Capital Group strives to promote the promotion of these outstanding companies in the Chinese market, and at the same time recommends outstanding Chinese companies and overseas investment companies to SoftBank, so that both parties share resources and move forward together. At the same time, both parties agreed to invest 10 million U.S. dollars to establish SPVs for mergers and acquisitions and operations of outstanding Japanese companies. The two parties will also fully mobilize their respective resources for the docking of investment, mergers and exit projects between Japan and China. In the evening of the same day, Chairman Yoshitaka Kitao gave a grand banquet to Chairman Ni Zewang and his party in accordance with Japan's highest standard of etiquette, expressing the importance and expectation of the Japanese side for this partnership.

The signing of the strategic agreement between Shenzhen Capital Group and SoftBank marks that Shenzhen Capital Group and West Fountain have further deepened the Japanese market and added a lot of color to the implementation of Shenzhen Capital Group's international strategy.