Company News: "Shenzhen Meets Silicon Valley", Shenzhen Capital Group's International Presence on the Rise
From June 15 to 19, 2018, Shenzhen Municipal Party Secretary Wang Weizhong led a team to visit Boston, Silicon Valley, San Francisco, and other places in the United States. Shenzhen Capital Group’s Special Assistant to Chairman and Managing Partner of West Fountain Parallel Funds, Li Li, also joined the visit. This visit is further to strengthen the partnership between the China and U.S. markets and create win-win results.
On June 18, 2018, the China (Shenzhen)-U.S. (Silicon Valley) Investment Partnership Conference was officially kicked off. Wang Weizhong met with entrepreneurs, experts, and scholars from the conference, delivered speeches, and witnessed the signing of partnership projects. He said that companies, entrepreneurial teams, scientific research institutions, and professional service organizations from Silicon Valley, California, and other places in the United States are welcome to set up R&D centers or China business headquarters in Shenzhen, invest in enterprises, share development opportunities, and jointly develop a solid partnership between China and U.S. markets.
During the event, Wang Weizhong discussed with the chairman of the California Energy Commission and leaders of prominent American companies such as Wal-Mart and Qualcomm on business development opportunities in Shenzhen. Among the participating companies, 5 were Fortune 500 companies, and 2 were high-tech portfolio companies of West Fountain and Shenzhen Capital Group.
Li Li, the Special Assistant to the Chairman of Shenzhen Capital Group and Managing Partner of West Fountain Parallel Funds, updated on the two portfolio companies of Shenzhen Capital Group and West Fountain Parallel Funds to Wang Weizhong, Secretary of the Municipal Party Committee, and Peng Haibin, Director of the Municipal SASAC.
Secretary Wang Weizhong spoke highly of the performance of Shenzhen Capital Group and West Fountain Parallel Funds and hoped they would continue to develop their global footprint.
Finally, witnessed by the leaders and guests, Shenzhen Capital, the Municipal Investment Promotion Agency, the Futian District Government, and two outstanding American companies held a grand signing ceremony.
In just one year since its establishment, West Fountain Parallel Funds have invested a total of RMB 950 million, or about USD 146 million. A total of 10 domestic and foreign high-tech portfolio companies have covered various frontier industries such as Telecom, artificial intelligence, 3D printing, biotechnology, chip design, and robotics.