Beijing Economic-Technological Development Area (Beijing E-Town) has recently established a Sci-Tech Innovation Equity Investment Fund with an initial scale of 1.001 billion yuan ($137.86 million), adding another piece to the area's government investment fund system.

Last year, Beijing E-Town set up government investment guidance funding. 

Among its items, the Seed Fund uses market-oriented means to expand equity investment in early-stage enterprises; the Industrial Upgrade Fund, through the model of "fund investment + industry platform empowerment," has become a powerful "lever" for the guidance fund to invest in major projects. 

The establishment of the Sci-Tech Innovation Fund will further leverage fiscal funds to promote the transformation of scientific and technological achievements, and the cultivation and introduction of innovative enterprises, linking the Seed Fund and the Industrial Upgrade Fund to form a government investment fund system.

"We have received support from the Industrial Upgrade Fund of Beijing E-Town. As a core hard technology enterprise, SemiDrive Technology requires a longer investment cycle to promote research and development and innovation. These funds not only provide us with stable financial support but also ensure that SemiDrive can focus on research and innovation," said Chen Shujie, vice-president of SemiDrive.

After a year of operation, the Industrial Upgrade Fund has completed investments in projects such as Landspace, TMLake (Beijing) Technology, Semidrive Semiconductor, and Hugo Biotech, attracting follow-up investments from social investment institutions. 

In the future, it can generate more than 10 billion yuan of output value to Beijing E-Town, injecting continuous momentum into the innovative development of cutting-edge enterprises within the area, according to an official from the Financial Audit Bureau of Beijing E-Town.