Hangzhou Runmiao Fund officially launched with an initial size of 20 billion yuan.

Hangzhou Runmiao Fund was officially launched today in Hangzhou East Software Park. The fund's initial scale is 2 billion yuan, with a term of 20 years. It is managed by Hangzhou State-owned Capital Investment and Operation Co., Ltd., and executed by Hangzhou Science and Technology Innovation Group Co., Ltd. The fund focuses on "investing early and investing small," specializing in investing in technology-based startups established within 5 years. The investment in a single enterprise does not exceed 5 million yuan and the investment ratio does not exceed 20%. The fund does not become the largest shareholder. It plans to invest in over 100 projects annually, with the goal of building a "pyramid" team covering 50,000 technology-based small and medium-sized enterprises by 2027.