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Company News: West Fountain Parallel Fund's Third Partner Meeting Successfully Held in Shenzhen

2020.07.29

On July 29, 2020, Shenzhen Capital Group held its third partner meeting in Shenzhen

Ni Zewang, Chairman of Shenzhen Capital Group, Jiang Yucai, Vice President, Lv Hua, Chairman of Shenye Group, Chen Shaoqun, Chairman of Shenzhen International Freedom Group, Xie Wenchun, Vice President, Zhu Guoqiang, Chief Operating Officer of Shenzhen Holdings, Zhou Guohui, Chairman of Eternal Asia Group, and other LP or LP unit representatives, Li Li, chief partner of Parallel Fund, other management partners, directors, and investment teams participated in the conference online and offline.

At the meeting, the parallel fund management team reported on the fund's financial and investment status in 2019 and key tasks in 2020. As of the end of June 2020, the parallel fund has completed 25 project investments, all of which are world-class leaders in their respective fields such as ASR, Bestechnic Technology, GRAIL, and Tyto Care. They are projected to generate returns of billions Chinese Yuan.

All partners of the Parallel Fund expressed their appreciation for the diligent the management team’s hard work in 2019 and the outstanding performance of the fund. They also applauded the timely and in-depth service of the fund's post-investment management; they believed that the overseas investment network built by the fund is connecting superior global resources effectively. Benchmarking global unicorn and discovering high-growth tracks are the team’s key strength; the management team and consultants are taking advantage of the structural benefits of parallel funds, and using their keen judgment, forward-looking insight, and value-locking capabilities to create tremendous value. Integrated with Shenzhen Capital Group's domestic platforms, the parallel fund has unique advantages to explore more cutting-edge high-tech startups.

The parallel fund was established in 2016. It is the largest parallel fund established by Shenzhen Capital Group to focus on domestic and overseas project investment, with a total scale equivalent to RMB 4.01 billion. West Fountain, the US part of West Fountain Parallel Fund, is mainly engaged in domestic and foreign high-tech enterprise venture capital and cross-border mergers and acquisitions.