Approved by the State Council, Guochuang Fund of Funds was launched on Dec. 28, 2010. Jointly set up by China Development Bank and Suzhou Venture Group, the Suzhou-based Fund of Funds, with a total target capital of 60 billion Yuan and 15 billion Yuan in the preliminary stage, is the largest RMB fund of funds in China. The launching Ceremony of Guochuang was held at Diaoyutai State Guesthouse on December 28, 2010. The leaders from Ministry of Science and Technology, Ministry of Commerce, State Development and Reform Commission, Ministry of Finance, State Administration of Taxation, State Administration for Industry and Commerce, China Securities Regulatory Commission, State Administration of Foreign Exchange, the Social Security Fund, China Investment Corporation, etc., participated the Ceremony which was co-hosted by Mr. Chen Yuan, Chairman of China Development Bank and Mr. Li Xueyong, Governor of Jiangsu Province.
Dacheng’s PE team, lead by Mr. Wei Junxian and Ms Yuan Yuan, has advised on the fund formation of Guochuang Fund of Funds, and was also invited to present at the grand ceremony. This is a new milestone for Dacheng’s PE team.
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