Pinghu Economic and Technological Development Zone Industrial Investment

Investment authority ultimately resides with Pinghu State-owned Assets Holding Group (PSAG), the municipal state-owned capital administrator. While a named CIO is not publicly identified, the investment committee operates under the strategic guidance of the Pinghu Economic and Technological Development Zone administrative committee, aligning capital deployment with municipal industrial planning targets.

Sourcing is structurally tied to the zone's industrial park ecosystem. Companies seeking to locate manufacturing operations within the Sino-German or Sino-Japan industrial parks, or to access standardized workshops in the zone, enter the firm's pipeline. This tenant-attraction model generates deal flow that combines real estate incentives with equity co-investment terms.

It operates as a policy-aligned vehicle where investment returns are measured alongside industrial relocation outcomes. Capital is deployed to attract advanced manufacturing tenants into the Pinghu Economic and Technological Development Zone, making it a hybrid of a government guidance fund and a direct corporate venture-style investor, rather than a purely commercial fund manager.

The firm participates across early-stage seed, start-up, venture, and late-stage expansion rounds, primarily through direct equity co-investments. Asset classes are concentrated in hard-tech and industrial sectors — semiconductor equipment, drone components, and advanced manufacturing. It does not publicly report commitments to blind-pool funds, functioning instead as a direct co-investor alongside venture capital firms.

Confirmed co-investors include Legend Capital and GTJA, both of which participated alongside the firm in the C-round of high-tech company Zhenqu Technology. The firm also maintains an institutional partnership with AHK Greater China for German industrial cooperation within the Sino-German (Pinghu) Cooperation Park.