Blue Economy Zone Industrial Fund

What Blue Economy Zone Industrial Fund does

Blue Economy Zone Industrial Fund (蓝色经济区产业投资基金（有限合伙）, 'Blue Zone Fund') is a national-level industrial investment fund approved by China's National Development and Reform Commission (NDRC) in 2012, headquartered in the Jinan section of the China (Shandong) Pilot Free Trade Zone. The fund was established to implement the State Council-approved Shandong Peninsula Blue Economic Zone Development Plan, with founding sponsors including Shandong Ocean Group (anchor LP), Shandong Jierui Logistics, Rizhao Port Group, and Shandong Provincial Finance & Investment Group. It is managed by Shandong Blue Economic Industry Fund Management Co., Ltd. (50 million RMB registered capital), and operates additional offices in Qingdao and Beijing.

The fund invests via a 'direct project + specialized sub-fund' model across four vertical sectors: information technology & frontier technology, life health, energy/chemical new materials, and marine industry. Total managed AUM is approximately 30 billion RMB across the main fund and sub-funds including the Shandong Blue Yunhai Venture Capital LP (with Inspur Group, cloud/big data) and the Qingdao Tsinghua-Keda-Kexin Blue Microorganism Venture Capital Center (with Tsinghua Holdings, China's first dedicated microorganism fund). Five portfolio IPO exits have been completed: Buchang Pharma (2016), Zhenghai Bio-Tech (2017, IRR >50%), Zhuochuang Information (2022, ChiNext opening surge ~70%), Jinkai (Liaoning) Life Sciences (2023, ChiNext), and HyperScience (Beijing Hy BCM Tech, 2025, STAR Market).

The fund generates returns through capital appreciation from equity investments in portfolio companies, monetized via IPOs, mergers and acquisitions, and industry integration, alongside management fees from the main fund and its sub-funds. Customer segments are institutional state-owned enterprise LPs seeking exposure to national strategic industries and emerging-industry portfolio companies requiring growth capital. Pricing terms are not publicly disclosed and are negotiated bilaterally with state-owned enterprises and institutional investors. The fund is a private limited partnership, not publicly traded, with 11-50 employees in the management company (estimated 20-50).

Name

Blue Economy Zone Industrial Fund

Legal name

蓝色经济区产业投资基金（有限合伙）

Website

https://bluefund.com.cn

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Blue Economy Zone Industrial Fund is a China NDRC-approved national-level industrial investment fund managing approximately 30 billion RMB across four verticals (IT/frontier tech, life health, energy/chemical new materials, and marine industry), serving state-owned enterprise LPs and emerging-industry portfolio companies via direct investments and specialized sub-funds.

Ownership category

akta.pro rank

Product category

Private Equity / Industrial Investment Fund Management

NAICS

All Other Financial Investment Activities (52399), Miscellaneous Financial Investment Activities (523999), Other Financial Vehicles (52599)

SIC

Investors, Nec (6799)

akta.pro primary industry

Industrials & Manufacturing Growth Equity (FSANACAF)

akta.pro secondary industries

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF), Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI)

Keywords

• Industrial investment funds
• Venture capital management
• Private equity investing
• Marine industry investment
• Strategic emerging industries

Headquarters

HQ city

Jinan

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Returns and Management Fees: The fund generates returns through capital appreciation from equity investments in portfolio companies, realizing returns via IPOs, strategic mergers and acquisitions, and industry integration. The fund also earns management fees from operating the fund and its sub-funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Blue Economy Zone Industrial Fund is a NDRC-approved state-level industrial investment limited partnership that invests equity capital in companies operating in four core sectors: information technology & frontier technology, life & health, energy/chemical new materials, and marine industry. It deploys capital through direct project investments and specialized sub-funds (including the Shandong Blue Yunhai Venture Capital LP and the Qingdao Tsinghua-University-affiliated Blue Microorganism VC Center), generating returns via IPOs, industry M&A integration, and limited-partner management fees.

Product overview

蓝色经济区产业投资基金是一个国家级产业投资基金，采用直投项目与专项基金相结合的商业模式。核心业务包括管理主基金蓝色经济区产业投资基金（有限合伙）及其子基金如山东蓝色云海创业投资合伙企业、青岛清控金信蓝色微生物创业投资中心等。投资范围覆盖四大业务板块：信息技术&前沿科技、生命健康、高端仪器装备、海洋产业，通过专业的投资管理服务实现产业布局和资本回报。

Differentiator

Problem solved

Functional benefit

Products and services

• Blue Economy Zone Industrial Investment Fund (Limited Partnership) (蓝色经济区产业投资基金（有限合伙）) The flagship NDRC-approved state-level industrial fund (limited partnership) operated by Shandong Blue Economic Industry Fund Management Co., Ltd. Targets equity investments across new-generation IT & frontier technology, life & health, energy/chemical new materials, and marine industry sectors. Designed for institutional LPs and providing capital, IPO-pathway support, and industry-integration capability to portfolio companies in strategic emerging industries.
• Shandong Blue Yunhai Venture Capital LP (山东蓝色云海创业投资合伙企业（有限合伙）) Sub-fund jointly established with Inspur Group that specializes in cloud computing and big data industry-chain investments. Has invested in Zhuochuang Information and Inspur Cloud Computing, and co-invests with the main fund in select portfolio companies.
• Qingdao Tsinghua Jinxin Blue Microorganism VC Center (青岛清控金信蓝色微生物产业投资中心) China's first dedicated microorganism industry fund, co-established with Tsinghua Holdings' Jinxin Capital. Targets investments in the microorganism industrial sector, integrating industry-academia-research collaboration.
• Investment Management Services (投资管理服务) Ongoing professional investment management services delivered by Shandong Blue Economic Industry Fund Management Co., Ltd., including direct project investment, sub-fund operations, IPO pathway facilitation, industry M&A integration, and asset management for LPs.

Quantifiable outcome

• 4 successful IPO exits from portfolio companies as of August 2023
• +5 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered major, minor and core.

• 清华控股有限公司 / 清控金信 (Tsinghua Holdings / Tsinghua Keda Kexin)majorStrategic or Co-development Partner蓝区基金 partnered with Tsinghua Holdings' financial asset management team (金信资本) to co-host the 2017 Microbial Industry Development Seminar. They jointly established 青岛清控金信蓝色微生物创业投资中心 (Qingdao Tsinghua-University Kexin Blue Microorganism VC Center), China's first dedicated microorganism industry fund. Strategic collaboration focuses on产学研协同 development in the microorganism sector.
• 浪潮集团 (Inspur Group)majorStrategic or Co-development PartnerStrategic partner with whom the fund co-established the 山东蓝色云海创业投资合伙企业 (Yunhai Fund), a sub-fund investing in cloud computing and big data. Inspur provides industry resources and technology advantages while the fund provides asset management and capital运作 capabilities. The fund invested in 浪潮云计算 through this partnership.
• 软控股份有限公司 (Mesnac Co., Ltd.)minorStrategic or Co-development PartnerListed as a partner company on the fund's partner page. Mesnac is a leading rubber and tire equipment manufacturer in China, aligned with the fund's investment in new materials and high-end equipment sectors.
• 清控资产管理有限公司 (Tsinghua Holdings Asset Management)minorStrategic or Co-development PartnerListed as a partner company on the fund's partner page, representing the Tsinghua University asset management ecosystem with which the fund collaborates on technology transfer and investment opportunities.
• 山东蓝色云海创业投资合伙企业(有限合伙) (Shandong Blue Yunhai Venture Capital LP)coreChannel Partner/ Reseller/ DistributorA sub-fund co-launched with Inspur (浪潮), managed by Yunhai Fund management company. Specializes in cloud computing and big data industry chain investments. Has invested in 卓创资讯 and 浪潮云. The main fund (蓝区基金) co-invested with Yunhai Fund in several portfolio companies.

Scale indicators6 records

Recent moves14 records

Expansion highlights5 records

Broad incumbents

• Shenzhen Capital Group (SCGC): One of China's largest venture capital platforms with national reach, multiple sub-funds and proven IPO exits. Comparable as a state-affiliated multi-fund manager with deep strategic emerging industry portfolio.
• Legend Capital (Beijing): Major Chinese growth-equity and venture platform with proven IPO exit track record and policy-aligned fund mandates. Comparable multi-fund, multi-sector model with deep strategic emerging industry exposure.
• China Investment Corporation (CIC): China's sovereign wealth fund with broad industrial and growth equity exposure. Comparable as a state-backed LP and indirect co-investor through national strategic industry funds, though far larger scale and global mandate.
• China Integrated Circuit Industry Investment Fund (Big Fund): The largest national industrial investment fund (Big Fund I/II), with NDRC backing, multi-stage industrial mandate and provincial sub-fund structure analogous to Blue Zone Fund's approach.
• China Development Bank Capital: Sovereign-backed development finance institution deploying capital into strategic sectors through funds. Comparable state-policy mandate and LP-style capital structure, though much larger AUM.

Emerging players

• Inspur Group Strategic Investment: Co-GP in the Yunhai Fund sub-fund with Blue Zone Fund. Comparable as an industrial corporate investment vehicle leveraging strategic IT/cloud sector resources, though narrower sector mandate.
• Tsinghua Holdings Jinxin Capital: Strategic partner of Blue Zone Fund (co-manages the Microorganism VC Center). Highly comparable in technology-transfer-driven fund model, though narrower focus on Tsinghua-originated deals.

Direct peers

• China Structural Reform Fund: Another NDRC-approved national-level industrial investment fund with similar policy mandate and SOE LP base. Closely comparable in structure, regulatory standing and strategic emerging industry focus.
• China Ocean Development Fund: Marine-economy-focused national fund with overlapping mandate in marine industry and marine biomedicine, providing direct portfolio overlap and competition for marine-sector deals.
• SDIC Fund Management (China National Investment & Development Corp): State-owned investment platform managing multiple industrial and venture funds with comparable SOE-anchored LP base, policy-aligned mandate and diversified emerging-industry exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Blue Economy Zone Industrial Fund