Recently, Hangzhou Local Financial Supervision Administration issued the "Approval Reply on the Opinions of the City's Pilot Joint Review of Qualified Foreign Limited Partners" to support Safe and Rich Venture Capital Co. Ltd. to initiate the establishment of a pilot Qualified Foreign Limited Partner (QFLP) fund management enterprise.
Qualified Foreign Limited Partnership (QFLP) is a channel for foreign investors to use foreign capital conveniently by converting foreign capital into RMB funds and investing in domestic PE (Private Equity) and VC (Venture Capital) markets after passing the qualification approval and foreign exchange fund supervision procedures. Compared with traditional foreign investment, QFLP has obvious advantages: administrative approval procedures are greatly simplified (no need to specify the specific entity enterprise investment projects, eliminating the formalities of approval and filing in the Development and Reform Commission and other departments, and realising the direct entry of funds into the QFLP fund to become a partner of the QFLP fund, and then the QFLP fund to carry out the equity investment in the listed companies to be listed within the territory of China); capital investment QFLP provides a convenient way for foreign high net worth clients to participate in equity investment in China and share the fruits of the development of China's emerging industries, and will gradually become the most convenient way for foreign investors to carry out domestic equity investment in China. QFLP will gradually become the main way for foreign investors to carry out domestic equity investment.
Note: The enterprises invested by the QFLP Fund are mainly outstanding enterprises in new energy, new materials, digital information, high-end manufacturing, biomedicine and other emerging industries to be listed on the domestic Shanghai and Shenzhen exchanges.
In order to implement the "Opinions of the State Council on Further Improving the Utilization of Foreign Investment", "Notice of the State Council on the Issuance of the Overall Programme of Beijing, Hunan and Anhui Pilot Free Trade Zones and the Extended Regional Programme of Zhejiang Pilot Free Trade Zone", "Overall Programme for the Construction of Science and Technology Innovation and Financial Reform Pilot Zones in Shanghai, Nanjing, Hangzhou, Hefei, and Jiaxing Municipalities", and requirements of documents such as the construction programme of Hangzhou Area of the Pilot Free Trade Zone of Zhejiang and Hangzhou Provincial Governments on the China ( Zhejiang) Pilot Free Trade Zone Hangzhou Area Construction Programme and other documents, to further promote a new round of high-level opening up of Hangzhou's financial industry and expanding the use of foreign capital, to promote the healthy development of Hangzhou's equity investment market, and to promote Hangzhou's scientific and technological innovation and internationalisation of the industrial chain, the Interim Measures for the Pilot Project of Qualified Overseas Limited Partners of Hangzhou City were issued.
According to the Interim Measures for the Pilot of Qualified Foreign Limited Partners in Hangzhou and the requirements of the Approval of the Opinions on the Joint Review of the Pilot of Qualified Foreign Limited Partners in the City, the QFLP pilot fund management enterprise, which was set up by Safe and Rich Venture Capital in conjunction with some of its core employees to establish Hangzhou Safe and Rich Private Equity Fund Management Co.
It is an honour for Anfeng Venture Capital to be approved to set up the first QFLP pilot fund management enterprise in Hangzhou, which represents that Anfeng Venture Capital is in the leading position of Hangzhou's venture capital industry in terms of compliance, performance and management scale. Since its establishment in 2008, Safe and Rich Venture Capital has initiated and set up 22 venture capital/equity investment funds/M&A funds filed with China Securities Investment Funds Association and has invested in more than 90 hi-tech enterprises, of which more than 20 are listed in Shanghai and Shenzhen stock exchanges, with a cumulative management scale of more than 5 billion RMB. Meanwhile, the company is also the vice president unit of Zhejiang Venture Venture Capital Association, the executive vice president unit of Hangzhou Venture Capital Association, an early member and qualified manager of China Securities Investment Funds Association (fund manager code: P1007683), and filed with Development and Reform Commission of Zhejiang Province, and it has been rated as the top ten of Zhejiang Venture Capital Industry for many years.
Taking this approval for the establishment of the first QFLP pilot fund management enterprise in Hangzhou as an opportunity, Safe and Rich Venture Capital will actively prepare for the launching and establishment of the first QFLP fund in Hangzhou, which will provide professional wealth management services for overseas investment institutions and HNWIs, and provide a channel for them to enter into the equity investment market of the Chinese mainland and share the economic development of the Chinese mainland, which is also a contribution to the promotion of China's economic development.
