On March 24, 2018, Shenzhen Angel Capital Guiding Fund, also known as Angel Fund of Funds, was unveiled at Shenzhen’s Civic Center. Southern University of Science and Technology is one of the major signatories to the fund. Director of SUSTech Office of Strategic Planning Wang Susheng attended the signing ceremony and signed a fund agreement with Shenzhen Investment Holdings Co., Ltd. on behalf of SUSTech.

In 2017, SUSTech signed a strategic cooperation framework agreement with Shenzhen Investment Holdings Co., Ltd. Both parties will carry out all-round multi-level cooperation in the four major areas of science and technology, education, innovation incubation, and business.

The signing of the fund, as an important part of the strategic cooperation project, is a major measure to deeply implement the school-enterprise collaboration and promote the participation of social forces in the technology innovation, technology transfer, and technical cooperation of SUSTech.

The Angel Fund of Funds is the first such fund signed by Southern University of Science and Technology, with a total scale of 100 million yuan, of which no less than 30% is used to invest in SUSTech’s transformation of scientific and technological achievements and incubation projects.

The Angel Fund of Funds is a strategic and policy-based parent fund initiated by the Shenzhen Municipal Government. It is funded and set up by the Shenzhen Municipal Government’s guiding fund, and the initial scale is RMB 5 billion.

The establishment of the Angel Fund of Funds, through the marketization and professional operation, will speed up the development of Shenzhen’s angel investment and early investment, to meet the early financing needs of Shenzhen enterprises.

With increased investment, there will be a significant boost in funds for strategic emerging industries, which will result in the improvement of future industrial development and promote industrial transformation. The Angel Fund of Funds will assist Shenzhen in the construction of “China’s Silicon Valley” and build a “global innovation capital.”