| After getting approval from the Ministry of Commerce, Chang'an Lanxiang Venture Capital Co., Ltd. (Chang'an Lanxiang VC) will be established in Xi'an. This VC boasts the largest foreign capital injection amongst the VC firms in Northwestern China.
Reportedly, Chang'an Lanxiang VC's total investment amount will be US$300 million and its registered capital US$100 million. Xi'an Meiyin International Investment Co., Ltd has contributed 50% of registered capital in the cash form and in the currency of RMB (the amount is equilvant to US$50M) and HK-registered Haochang Holdings Co., Ltd. has invested US$50 million, accounting for 50% of registered capital. The principal businesses of the VC are to conduct equity investment and provide services in the sphere of venture capital consulting.
According to Mr. Zefan Zhuo, one of initiators of Chang'an Lanxiang VC, after the inception of the VC, it will, by following UK-based Blue Oak Capital's venture capital fund operation model, provide the innovative small and medium-sized enterprises located in Western China, and especially in Xi'an, with equity investment, thus further enhancing their independent innovation capability. |
