On the afternoon of October 31, 2015, the grand signing ceremony of CDBC-SVG FOF (Phase II), jointly created by CDBC and Oriza Holdings, was held in Sandlake VC/PE Community. The ceremony was attended by Shi Taifeng, Deputy Secretary of the CPC Jiangsu Provincial Committee and Secretary of the CPC Suzhou Municipal Committee, Zhou Naixiang, Deputy Secretary of the CPC Suzhou Municipal Committee and Mayor of Suzhou Municipality, Zhou Weiqiang, Member of the Standing Committee of the CPC Suzhou Municipal Committee and Executive Vice Mayor of Suzhou Municipality, Wang Shaodong, Member of the Standing Committee of the CPC Suzhou Municipal Committee and Secretary-General of the CPC Suzhou Municipal Committee, and Wang Xiang, Member of the Standing Committee of the CPC Suzhou Municipal Committee and Secretary of the CPC Work Commission of Suzhou Industrial Park (SIP). It was presided over by Yang Zhiping, Deputy Secretary of the CPC Work Commission of SIP and Secretary of the Administration Committee.
At the ceremony, under the joint witness of Suzhou municipal leaders and CDB executives, CDBC and Oriza Holdings signed the RMB 5-billion investment agreement on CDBC-SVG Oriza FOF (Phase II); CDBC, Suzhou Industrial Park State-owned Assets Holding Development Co., Ltd. and Oriza Holdings signed the investment agreement on CDBC-SVG KeyWin FOF (Phase II), with the asset size no less than RMB 10 billion.
The phase II fund, jointly established and funded by Oriza Holdings, CDBC and Chenkun Equity Investment and Fund Management Center, will be managed by Oriza Chenkun. Oriza Holdings and CDBC, as the cornerstone investors, will each invest RMB 1 billion and the remaining RMB 3 billion will be raised from the public, as a measure to attract more social capital in venture capital investment; CDB KeyWin Equity Investment and Fund Management Co., Ltd. will serve as the general partner and manager of CDBC-SVG KeyWin FOF (Phase II). CDBC and its affiliated parties have committed to investing a minimum of RMB 3 billion and Suzhou Industrial Park State-owned Assets Holding Development Co., Ltd. a maximum of RMB 2 billion, and Oriza Holdings a maximum of RMB 1 billion and the remaining fund will be raised from other institutional investors.
According to Fan Haibin, Chief Investment Officer of CDB and President of CDBC, the new phase of CDBC-SVG FOF will, while continuing to focus on industrial transformation and upgrading, mainly invest in funds with distinctive industrial features and unique competitiveness, and allocate some funds for projects of strategic significance, such as modern services and consumption in broad sense, health care, information industry, energy conservation and environmental protection, TMT and Industry 4.0. In addition, built on the competitive resources of CDB and SIP and following the market-based investment principle, CDBC-SVG FOF will deepen technological and financial innovation, serve the construction of an innovation-driven country and further support and develop local private equity and management teams.
