Chengdu New Economy Angel Fund

The fund operates exclusively as a fund-of-funds, committing capital to external seed and start-up venture managers rather than making direct company investments. Its public mandate does not include a direct investment program, positioning it purely as an LP in the Chengdu venture ecosystem.

The fund is a government-guided vehicle established to implement Chengdu's 'new economy' industrial policy. It uses public capital to anchor venture fund closes, attracting private GPs to deploy in Sichuan. This structure is common across Chinese cities competing for tech talent, though the specific governance and approval processes are not publicly detailed.

Mandate covers seed, start-up, and occasional expansion-stage exposure, with the heaviest concentration at the earliest phases of company formation. The fund does not appear to participate in late-stage or pre-IPO fund commitments, keeping its risk profile aligned with Chengdu's goal of generating new technology company formation rather than scaling mature enterprises.