What SDIC Venture Capital does

SDIC Venture Capital (国投创业投资管理有限公司) is a Beijing-based, state-backed venture capital and private equity fund management company established in 2016 as a wholly-owned subsidiary of State Development & Investment Corporation (SDIC Group / 国投集团), which is itself supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. The firm operates as the manager of multiple government-anchored investment vehicles — most prominently the 100-billion-yuan National Science and Technology Major Project Achievement Transformation Fund established jointly with the Ministry of Science and Technology, the Beijing-Tianjin-Hebei Achievement Transformation Fund, the Guangdong-Hong Kong-Macao Greater Bay Area Fund, the Ningbo Achievement Transformation Fund, and the Shenzhen Gaoxin Venture Capital Fund — collectively managing approximately 300 billion yuan (~$42B USD) in assets under management.

Its underlying "platform" is an investment management and post-investment oversight system built around the full lifecycle of national science and technology project commercialization, organized into four vertical investment sectors: Advanced Manufacturing (semiconductor equipment, additive manufacturing, robotics, precision machining, aerospace, rail), Electronic Information / TMT (AI chips, network security, communications, cloud, big data, IoT), Materials & Energy (nuclear power, new energy, strategic emerging materials, environmental protection), and Biomedicine (innovative drugs, medical devices, healthcare services). Notable portfolio holdings include Cambricon (AI chip unicorn, Series A lead 2017), Chipone Technology (display ICs), Bangsun Technology (real-time big data), Biocytogen (AH dual-listed biotech), Hengyunchang (semiconductor equipment components, STAR Market 2026), Haichang Bio (nucleic acid drug delivery), and Mingxin Qirui (RRAM storage compute).

The firm earns revenue through two standard PE/VC fund management streams: recurring management fees on the committed/invested capital across its multiple fund vehicles, and carried interest on successful exits. It does not publicly disclose pricing for fund management services, as deal terms are negotiated on a fund-by-fund and investor-by-investor basis with primarily government LPs (SDIC Group, Ministry of Science and Technology, regional guidance funds). Distribution is exclusively institutional via co-investment partnerships with central ministries, local governments, and state-owned enterprises; deal sourcing is augmented by preferred access to national S&T major project pipelines and regional government referral networks across the Beijing-Tianjin-Hebei, Yangtze River Delta, Greater Bay Area, and Sichuan-Chongqing economic zones. The firm is led by President Pan Yong (also SDIC Group Assistant President and President of SDIC Gaoxin Industrial Investment), Chief Operating Officer and Party Secretary Zhou Yi, and General Manager Gao Aimin.

Name

SDIC Venture Capital

Legal name

国投创业投资管理有限公司

Website

https://sdicvc.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

SDIC Venture Capital is a state-backed venture capital and private equity fund manager, established in 2016 under SDIC Group, managing approximately 300 billion yuan across multiple government-anchored funds focused on technology achievement transformation in advanced manufacturing, electronic information, materials & energy, and biomedicine across China.

Ownership category

akta.pro rank

Product category

Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

Keywords

• Venture capital management
• Private equity funds
• Technology investment
• Government-backed investment
• Innovation financing

Headquarters

HQ city

Xicheng

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: Management fees collected from managing multiple government-backed private equity funds including National Science and Technology Major Project Achievement Transformation Fund, Beijing-Tianjin-Hebei Fund, and regional transformation funds.
2. Carried Interest (Performance Fees): Performance-based carried interest from successful investment exits and portfolio company appreciation, typical structure for government-guided private equity fund management.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

SDIC Venture Capital is a private equity and venture capital fund management company that manages multiple specialized government-backed investment funds (collectively approximately 300 billion yuan in AUM) targeting technology achievement transformation. It invests equity capital into portfolio companies across four sectors — Advanced Manufacturing, Electronic Information, Materials & Energy, and Biomedicine — and provides post-investment management and operational guidance. The firm is the mandated manager of the National Science and Technology Major Project Achievement Transformation Fund, established jointly with the Ministry of Science and Technology.

Product overview

SDIC Venture Capital (国投创业投资管理有限公司) is a venture capital fund management company established in 2016 under SDIC Group. The company operates as a platform of multiple specialized investment funds including the National Science and Technology Major Project Achievement Transformation Fund, Beijing-Tianjin-Hebei Achievement Transformation Fund, Guangdong-Hong Kong-Macao Greater Bay Area Fund, High-tech VC Fund, and Ningbo Achievement Transformation Fund. These funds collectively manage approximately 300 billion RMB in assets, focusing on four core investment sectors: Advanced Manufacturing (semiconductor equipment, robotics, precision machining), Electronic Information/TMT (AI, semiconductors, network security), Materials & Energy (nuclear power, new energy, advanced materials), and Biomedicine (innovative drugs, medical devices). The investment strategy centers on technology achievement transformation, supporting companies in semiconductors, biotechnology, and strategic emerging industries through full-cycle investment management and post-investment support services.

Differentiator

Problem solved

Functional benefit

Products and services

• National Science and Technology Major Project Achievement Transformation Fund (国家科技重大专项成果转化基金)
• SDIC Beijing-Tianjin-Hebei Achievement Transformation Fund (国投京津冀科技成果转化基金)
• SDIC Guangdong-Hong Kong-Macao Greater Bay Area Achievement Transformation Fund (国投粤港澳大湾区科技成果转化基金)
• SDIC High-tech Venture Capital Fund (国投高新创投基金)
• SDIC Ningbo Achievement Transformation Fund (国投（宁波）科技成果转化基金)
• Advanced Manufacturing Investment Portfolio (先进制造)
• Electronic Information / TMT Investment Portfolio (电子信息)
• Materials & Energy Investment Portfolio (材料能源)
• Biomedicine Investment Portfolio (生物医药)

Quantifiable outcome

• 200+ portfolio companies invested across four key technology sectors
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered flagship.

• Ministry of Science and Technology of ChinaflagshipStrategic or Co-development Partner · 1 January 2016Strategic partnership for managing the National Science and Technology Major Project Achievement Transformation Fund. The Ministry and SDIC jointly established the fund to accelerate transformation of national scientific and technological achievements. This represents a core strategic collaboration for technology commercialization.
• State Development & Investment Group (国投集团)flagshipStrategic or Co-development PartnerParent company and sole sponsor of SDIC Venture Capital. Established the company in 2016 as a specialized private equity fund management company under SDIC Group to implement national innovation-driven development strategy.

Scale indicators3 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Shenzhen Capital Group: Shenzhen Capital Group (深创投) is China's largest government-backed venture capital firm, established in 1999 under Shenzhen municipal government auspices. It is the closest direct peer to SDIC VC given shared SOE sponsorship, broad sector coverage in technology and emerging industries, and similar fund-of-funds plus direct investment model.
• Oriza Holdings: Oriza Holdings (元禾控股) is a Suzhou Industrial Park-backed PE/VC platform with comparable state sponsorship, multi-fund structure, and focus on early- to growth-stage technology investments. Its government-backed origins and broad sector mandate make it a structurally similar peer to SDIC VC.
• China Structural Reform Fund Corporation: China Structural Reform Fund (国调基金) is a SASAC-coordinated state-level fund managing hundreds of billions of RMB across strategic sectors including advanced manufacturing and technology. It is a direct peer in operating scale, state sponsorship structure, and mandate to deploy capital into national priority technology areas.
• China Merchants Venture Capital: China Merchants Venture (招商局创投) is the venture investment arm of China Merchants Group, a central SOE. It shares SDIC VC's SOE-backed CVC structure, multi-fund platform approach, and focus on technology commercialization across strategic emerging industries.
• National Integrated Circuit Industry Investment Fund: The National IC Industry Fund (大基金) is China's flagship state-backed investment vehicle specifically for the semiconductor industry. It is highly comparable to SDIC VC in mandate, SOE sponsorship, and focus on semiconductor self-sufficiency, and is both a potential co-investor and competitor in chip-related deals.

Broad incumbents

• Legend Capital: Legend Capital (君联资本) is a major Chinese PE/VC firm with a broad portfolio spanning technology, healthcare, and consumer sectors. While not state-backed, it competes head-to-head with SDIC VC for growth-stage technology deals and is a recurring co-investor (e.g., joint lead in Mingxin Qirui's Pre-A round).
• HongShan (Sequoia China): HongShan (红杉中国), the rebranded Sequoia Capital China, is one of China's largest venture capital platforms with extensive technology and biotech exposure. It is a broad incumbent peer competing for the same top-decile deals and offering overlapping capabilities to founders.
• Hillhouse Capital: Hillhouse Capital (高瓴资本) is a major Chinese investment firm with significant venture, growth, and public market exposure across technology and healthcare. Its scale and sector breadth make it a broad comparable in AUM, sector coverage, and LP base sophistication.
• IDG Capital: IDG Capital is one of the earliest foreign-affiliated venture capital firms operating in China with deep technology investment heritage. It is comparable in early-stage technology deal flow and serves overlapping founder networks across China's innovation hubs.
• CDH Investments: CDH Investments is one of China's largest alternative asset managers with extensive PE and growth-stage investments across industrial and technology sectors. Comparable in AUM scale and breadth of fund offerings, though with greater PE rather than VC focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments172 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SDIC Venture Capital