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Shandong embraces first investment withdrawal project by government leading fund

2017/7/10 15:05:47   source:Sdchina.com

Recently, the Beijing Landsky Environmental Technology project invested by Yantai Yuanchuang Technological Capital Fund, finished its merger and reorganization and exited smoothly from the venture capital fund guided by Shandong Government. This is the first project supported by government leading fund, achieving successful withdrawal with 75 percent return on investment (ROI).

According to an official of Shandong Financial Bureau, Shandong provincial-level Angel Capital Guiding Fund invested 30 million yuan becoming a shareholder of Yantai Yuanchuang Technological Capital Fund. The Fund totals 143 million yuan and is in place for investment targets. In 2014, Chuangyuan buy a 1.43 percent share of Beijing Landsky with 8 million yuan (1.678 million yuan from leading fund). In June 2017, Beijing OriginWater Technology Co., Ltd declared its acquisition in cash of 70 percent shares of Landsky. Yuanchuang transferred all shares in Landsky to OriginWater for 15.294 million yuan. In the light of related agreement, the trade earns a net profit of 1.267 million yuan, 75 percent of the ratio of ROI.

It’s reported a set of measures has been taken to run the provincial government leading fund, including increasing incentive schemes, broadening the areas of investment, blazing new trails in the forms of investment and reinforcing market supervision, during the past two years since its establishment. Now, part of the fund enters its harvest time.

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