Anhui Jiulong Investment Development

The firm operates under a committee structure chaired by senior officials drawn from Anhui's provincial State-owned Assets Supervision and Administration Commission (SASAC) ecosystem. Day-to-day investment recommendations are prepared by an internal team of engineers and ex-operators, but final approval on transactions generally requires provincial development board sign-off. This dual-layer governance reflects the firm's mandate to serve industrial-policy objectives alongside financial goals.

Sourcing relies heavily on provincial-government referral networks — including Anhui's science and technology bureaus and the Hefei National High-Tech Industry Development Zone. Companies seeking to establish R&D centers or advanced manufacturing lines in Hefei are introduced through official investment-promotion channels before the firm evaluates them for equity investment. Academic spinouts from the University of Science and Technology of China in Hefei form a secondary pipeline.

The firm invests across seed, start-up, expansion, and late-stage venture rounds. Early-stage investment is commonly directed at university spinouts or returning overseas Chinese entrepreneurs locating their first manufacturing facility in Anhui. Late-stage allocations frequently serve as anchor local-government co-investment alongside national funds such as the China Integrated Circuit Industry Investment Fund (the 'Big Fund') when capital is being raised for fabrication-plant construction.

The firm concentrates on advanced manufacturing sectors that align with Hefei's planned industrial clusters: semiconductor fabrication and packaging equipment, optoelectronic materials, new-energy-vehicle components, and industrial automation and robotics. It explicitly prioritizes hard-science ventures that require physical plant, rather than pure software or consumer-internet business models.