Nantong Kaiyuan Investment and Development Group

The firm is wholly owned and governed by the Nantong municipal government's State-owned Assets Supervision and Administration Commission. Its investment mandate and major allocation decisions are approved by the Nantong municipal finance bureau, embedding the group's strategy directly within the city's five-year planning cycles.

Kaiyuan operates with a dual mission: generating financial returns on venture investments while fulfilling municipal economic goals like job creation and industrial park occupancy. Traditional VC firms are judged almost entirely on IRR; Kaiyuan's success is measured by both fund performance and non-financial policy outcomes such as attracting strategic industries to Nantong.

The group deploys capital across venture equity, real estate development, and infrastructure. Its venture arm invests in early through late-stage technology companies, while separate subsidiaries manage commercial real estate projects, industrial parks, and transportation assets concentrated in the Yangtze River Delta region.

The group's core mandate focuses on Nantong and the broader Yangtze River Delta, but its venture capital subsidiaries may participate in deals outside Jiangsu if the portfolio company commits to establishing operations, R&D centers, or manufacturing facilities within Nantong — tying external investment to local economic development.

No. Like most Chinese prefecture-level investment platforms, Kaiyuan does not publish a consolidated AUM figure. Its balance sheet aggregates multiple subsidiary vehicles with different reporting standards, and capital is drawn from municipal land-sale revenues, bond issuances, and retained earnings rather than third-party limited partners.