High-tech funds

2008-11-7  |     NEWSPAPER EDITION

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THE Pudong New Area has attracted venture capital worth 2.6 billion yuan (US$381 million) into high-tech industry via its Guidance Fund since 2006, a senior official of the district said yesterday.

The government has signed contracts with venture capital firms such as Gobi Partner, DFJ and BioVeda to bring 11 funds worth more than 14 billion yuan to Pudong. The district pumped 620 million yuan into the Guidance Fund, the country's first fund set up by a district government to attract social venture capital, and has attracted 10 billion yuan in total, Zhang Endi, vice governor of Pudong, said.

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