On January 18, the investment promotion meeting of Zhejiang Province's first cultural industry fund was held in the Jiangnan meeting in Hangzhou. The two high-level partners-Zhejiang Paradise Silicon Valley Venture Capital Co., Ltd. and Qixian Equity Investment Management Co., Ltd., a subsidiary of Songcheng Group, attended the meeting together.
On November 11, 2010, on the tenth anniversary of the establishment of Paradise Silicon Valley, also in the Jiangnan Association, the fund was born in the gorgeous swaddles of the two Zhejiang province industrial giants, Paradise Silicon Valley and Songcheng Group. At the investment promotion meeting on January 18, the fund was finally unveiled. According to reports, it is positioned as a pure IPO fund with a limited partnership system and a registered capital of 100 million yuan. The fund raising period is expected to be from January 15 to March 15 and will focus on investing in two to three cultural industry-related projects.
The relevant person in charge of the investment management department of Paradise Silicon Valley Fund said that the investment in Paradise Silicon Valley has always been characterized by standardization and stability, focusing on controlling risks. Facing the fierce competition in the industry, they have paid attention to adopting regional allocation in different industry stages in recent years and expanding the sources and channels of project allocation. According to its introduction, this time it met the Songcheng Group with profound internal strength in the cultural industry field. The two sides hit it off. This cultural industry fund is also the first time that Silicon Valley Paradise has cooperated with an industry leader like Songcheng Group in the entire industrial system.
As the first cultural industry fund in Zhejiang Province, the fund is a high-risk, high-yield PE (private equity) project, but in theory it is lower than the VC (venture investment) category. The general funds from entry to exit require three to three Five-year cycle.
At present, both sides of the cooperation and external comments are very optimistic about the prospects of this fund. According to reports, about 60% of the current 100 million yuan plate has been repurchased.
In response to the prevalence of hype and packaging in some projects in the private equity circle, the relevant person in charge of the fund product department of Paradise Silicon Valley Company said that in recent years, PE has been hot, and the prices of many projects have also been speculated. The concept of hype should be cautious when dealing with the price-earnings ratio.
According to reports, as of now, Paradise Silicon Valley has 6 billion yuan in assets under management and 56 venture capital projects, of which 6 have been listed.
As an investment company under the Songcheng Group, the responsible person of Qixian Investment said on the 18th that the capital market has great charm. The newly listed Songcheng shares are cultural industry projects represented by "Songcheng Eternal Love". She said that compared with traditional industries, cultural and creative industries have the characteristics of less risk and stronger vitality. Songcheng Group has more than ten years of cultural tourism industry advantages and rich industry resources. This time, it cooperates with Paradise Silicon Valley. The establishment of the fund, as the first test of the PE project, is to hope to use the rich venture capital experience of Paradise Silicon Valley to explore such excellent projects as Songcheng shares.
According to its disclosure, there are currently several projects that both parties intend to include, including scarce resource attractions, mobile game portals, and original copyrights in animation.
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