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The Fourth Partner Meeting of West Fountain Global Fund Successfully Concluded

2021.09.03

All of the partners

Chairman of Shenzhen Capital Group, Zewang Ni; Chairman of Shum Yip Group, Hua Lv; Vice President of Shenzhen DutyFree Group, Wenchun Xia; Chief Operating Officer of Shenzhen Investment Limited, Guoqiang Zhu; Chairman of Eternal Asia, Guohui Zhou; Chairman of Sanye Group, Zonggao Ye; Founder of Shenzhen TXD Technology Co., Ltd., Feng Li; Managing partners, Directors and Investment Team of West Fountain Global Fund L.P., attended the fourth partner meeting of West Fountain Global Fund online and offline.

At the meeting, the investment team of West Fountain Global Fund reported to the fund partners and participants in the meeting on the investment and operation of the fund in 2020, summarized the investment results since the establishment of the fund, and clarified the work plan for 2021. West Fountain Global Fund has completed 34 investment projects in total since its inception, all of which are investments into world-leading companies. At present, 5 companies have been successfully achieved IPOs. Among them, two companies have listed on China Science and Technology Innovation Board are Bestechnic and Shanghai Fudan Micro; two companies have listed in the United States (Desktop Metal on the NYSE and Innoviz Technologies on the NASDQ. Additionally, Grail, Inc. was acquired by Ilumina. The two existing sci-tech innovation board companies waiting to be launched are ASR Microelectronics (Shanghai) Co., Ltd. and Mattson Technology, Inc.; one company pending on the Hong Kong Stock Exchange is ArkBio, and Exceed ai, an Israeli company, will exit via an acquisition/merger. In all, at least eight companies will have exited via IPOs and two via M&A exits are expected to be realized by the end of the year 2021.

All the partners of West Fountain Global Fund fully affirmed the outstanding investment performance of the fund and expressed gratitude to the management and investment team for their diligent work. Hua Lv, Chairman of Shum Yip Group, the representative of the partners, said: “West Fountain Global Fund has invested in a number of innovative companies with high market recognition and good development potential in a short period of time. Most of the projects have achieved value-added and created a good economic return. We, as partners, are very satisfied with the results.” Partner representative Guohui Zhou, Chairman of Eternal Asia Group, expressed his gratitude to the fund management team for their dedication. He said “ West Fountain Global Fund has firmly grasped the semiconductor and medical track and achieved good results. As a partner, I have full confidence in the investment team's keen judgment, forward-looking insight and value lock-in capabilities. "

Finally, Zewang Ni, the managing partner of West Fountain Global Fund and chairman of Shenzhen Capital Group, pointed out that West Fountain Global Fund has continued to create value for partners in the four years of operation, and has successfully built a global investment network to tap the world's leading high-tech investment targets. The judgment and value-locking ability of the team has helped us invest in a number of high-quality innovative companies and helped them to be listed on the global capital markets, creating a good return on investment for the partners. He put forward requirements for the fund's work in 2021: “First, we must continue to work hard, do a good job in investment work, and speed up the investment progress; second, we must expand and deepen, and further strengthen post-investment value-added empowerment; third, we must plan ahead and steadily advance the exit and recovery work." The chairman also expressed his recognition and gratitude to the work of the overseas team of West Fountain Global Fund.In 2021, West Fountain Global Fund will continue its efforts, investment exits go hand in hand, and create better investment returns for partners.