The government guides the fund to "long battery life", the venture capital "fundraising management withdrawal" is more composed

Up until now, the existence period of RMB venture capital funds typically does not exceed 10 years, with most lasting only 7-8 years, leading to many funds having to exit the market before the companies experience explosive growth. Most RMB funds find it difficult to provide long-term and comprehensive support for a technology project. This issue will see a turning point in 2025. Reporters have observed that newly established guidance funds in provinces and cities such as Beijing, Shanghai, Jiangsu, and Guangdong have an existence period of more than 10 years, with some even lasting up to 20 years. Some regions have also modified the rules of existing guidance funds to extend their existence periods, and the second-phase funds of the guidance funds have extended their duration compared to the first phase funds. The extension of the existence period provides more space for the exit of the main fund and the sub-fund, making the process of venture capital fundraising, investment, and exit more manageable.