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Company News: West Fountain Parallel Fund's Second Partner Meeting Successfully Held in Israel

2019.06.10

At the invitation of Innoviz Technologies, a portfolio company and the world's leading lidar supplier, West Fountain Parallel Fund management team and partner representatives visited Israel. They held the second partner meeting of West Fountain Parallel Fund to accelerate the international footprint of the West Fountain Parallel Fund in Israel.


Fund Partners Meeting

On June 10th, the partner representatives and management team of West Fountain Parallel Fund held a partner meeting in Tel Aviv, Israel. West Fountain Parallel Fund is the largest parallel fund established by Shenzhen Capital Group to focus on overseas project investment, with a total scale equivalent to RMB 4.01 billion. The domestic part is West Fountain Parallel Fund, and the overseas part is West Fountain. The fund is mainly engaged in domestic and foreign high-tech enterprise venture capital and cross-border mergers and acquisitions.

This meeting is the second partner meeting since the establishment of the West Fountain Parallel Fund. Ni Zewang, Chairman of Shenzhen Venture Capital Group, Jiang Yucai, Vice President, Li Li, Chief Partner of West Fountain Parallel Fund, and Partner Representative of Sino-US Fund Lv Hua, Chairman of Shenye Group, Xie Wenchun, Vice President of Shenzhen International Freedom Group, Ye Zonggao, Chairman of Sanye Group, Dai Baojia, Chairman of Aojie Technology, and West Fountain Parallel Fund Management Partners, Directors and Investment Team, etc. total 20 More people attended this meeting.

At the meeting, the West Fountain Parallel Fund management team reported the 2018 operation and management, overseas investment layout, financial investment, and 2019 work plan. At present, the West Fountain Parallel Fund has completed investments in 13 companies, including 7 American companies, 2 Israeli companies, 2 Chinese companies, 1 European company, and 1 Japanese company. The investment projects are all in a single field. A world-class leading company, the industry covers information technology, semiconductors and artificial intelligence, advanced manufacturing, biomedicine, and other world-leading areas. The invested projects are all operating well and have achieved different multiples of value-added. The partners highly recognized the work of the West Fountain Parallel Fund in 2018. They praised its investment layout in Israel, the United States, Japan, Canada, and other countries in just one and a half years since its establishment. The fund has begun to fully deploy its own innovation incubation center to realize investment forward while reasonably avoiding risks. All partners hope that the West Fountain Parallel Fund team will continue to achieve better investment results in 2019.

Portfolio companies and Israeli venture capital institutions

In the following schedule, the partners of West Fountain Parallel Fund visited the portfolio company, Innoviz Technologies, and Israel's Microsoft Research Center, M12, and Israel's top venture capital institutions Pitango Venture Capital, Ofek Ventures, and Qumra Capital, and watched and listened to more than ten high-quality Israeli startups roadshows. Through the inspection and exchanges, the West Fountain Parallel Fund team further understood and learned the investment philosophy of Israel's top venture capital institutions and reached comprehensive strategic cooperation intentions with many institutions, looking forward to jointly promoting more investment partnerships in 2019.