Wuxi Angel Capital Guiding Fund inaugurated

The Wuxi Angel Capital Guiding Fund is inaugurated on Dec 17, 2021. [Photo provided by Wuxi Capital Group Co Ltd]

The opening ceremony for the Wuxi Angel Capital Guiding Fund was held in Wuxi, East China's Jiangsu province, on Dec 17.

Managed by Wuxi Capital Group Co Ltd, a subsidiary of Guolian Group, the fund boasts 1.5 billion yuan ($230.76 million) in capital and is capable of scaling up to 4 billion yuan based on the mother-feeder fund structure.

The fund will be used to finance integrated circuits, internet of things, biological medicine, aeroengines, gas turbines and other emerging industries of strategic importance, as well as major technologies involving genetic manipulation, protein engineering, virtual reality, and carbon capture and storage.