Chengdu High-tech Ceyuan Capital

What Chengdu High-tech Ceyuan Capital does

Chengdu High-tech Ceyuan Capital (成都高新策源投资集团有限公司) is a state-owned industrial investment and fund management platform established in August 2022 as a wholly-owned first-level subsidiary of Chengdu High-Tech Investment Group (高投集团). Headquartered in the South Tower of Tianfu International Financial Center in the Chengdu High-Tech Zone, the company was assigned a five-year mandate to build and professionally operate a ¥300 billion industrial fund group for the zone. It executes a "four-sector linkage" diversified investment model spanning industrial funds (产业基金), direct investment (产业投资), industrial research (产业研究), and industrial services (产业服务), forming a dual-circulation loop between state capital and high-quality industrial development aligned with the Chengdu High-Tech Zone's "3+6+6" modern industrial system.

The platform's core products are its industrial fund vehicles and direct equity investments, anchored by a fund cluster that has reached 154 funds with combined scale exceeding ¥323.6 billion — the largest among central and western Chinese industrial parks. Specialized mother funds target artificial intelligence (¥10 billion), low-altitude economy (¥5 billion), digital culture (¥5 billion), and pilot testing (¥2 billion), while dedicated sub-funds co-established with institutions such as CICC Capital, ICBC Investment, CCB Golden Investment, Hillhouse Capital, Tsinghua University, Peking University Chengdu Research Institute and Tianfu Gouxi Laboratory focus on hard-technology, future industries, and university spin-offs. Digital infrastructure includes the "Chengdu High-Tech Zone Smart Investment Platform" and "Ceyuan Capital Project Management Platform" for online project matching, intelligent matching, and progress tracking.

The company generates revenue through fund management fees on its 74+ co-established funds, capital gains from direct equity investments in portfolio companies such as Wofei Chang Kong (eVTOL), Zhipu Huazhang (LLM), Qitan Technology (nanopore sequencing), Chenxian Optoelectronics (Micro-LED), Yongxin Medical (nuclear imaging) and Xingdong Jiyuan (humanoid robotics), and performance carried interest on successful exits. Its customers are B2B institutional: government/SOE mandate holders, domestic and international LP co-investors (PE/VC institutions, state-owned platforms, corporate anchors), high-growth technology enterprises receiving equity capital, and industry chain leaders ("链主" enterprises) such as BOE, Huawei, Geely, and Hua Hong. Distribution is direct through senior management relationships, an online project pipeline portal (im.orinnocapital.com), and institutional events including the annual Chengdu High-Tech Zone Industrial Fund Collaborative Development Conference.

Name

Chengdu High-tech Ceyuan Capital

Legal name

成都高新策源投资集团有限公司

Website

https://orinnocapital.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Chengdu High-tech Ceyuan Capital is a state-owned industrial investment platform under Chengdu High-Tech Investment Group, managing a 154-fund cluster (>¥323.6 billion) to deploy equity capital into AI, low-altitude economy, biotech, and hard-tech enterprises within the Chengdu High-Tech Zone, serving government mandate holders, institutional LPs, and high-growth portfolio companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Chengdu

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: Generates management fee income from managing the 74+ industrial funds under its umbrella, including parent funds and sub-funds across multiple investment stages from seed/angel to growth and M&A.
2. Direct Investment Returns: Earns capital gains from direct equity investments in high-growth technology enterprises within the Chengdu High-Tech Zone, including follow-on investments in portfolio companies such as 沃飞长空, 考拉悠然, and 齐碳科技.
3. Performance Carried Interest: Collects performance-based carried interest (carry) from successful fund exits and portfolio realizations, aligning fund manager and LP interests.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Ceyuan Capital operates a state-owned industrial investment platform under Chengdu High-Tech Investment Group, combining fund-of-funds formation (母基金) with direct equity investments. It manages 74+ industrial sub-funds and mother funds totaling over ¥214.3 billion, targeting high-growth technology enterprises across AI, low-altitude economy, commercial aerospace, humanoid robotics, biotech, and new display sectors within the Chengdu High-Tech Zone. It also recruits industrial projects through 'capital-attracts-projects' matchmaking, provides investment research via the 策源洞察 series, and runs an online project submission portal.

Product overview

策源资本 (Ceyuan Capital) operates as a comprehensive industrial investment platform under Chengdu High-tech Investment Group, offering four core business segments: 产业基金 (Industrial Funds), 产业投资 (Industrial Investment), 产业研究 (Industrial Research), and 产业服务 (Industrial Services). The platform employs a dual-mode strategy combining fund investment with direct investment, focusing on early-stage, small-cap, and hard technology companies. Key platforms include the 成都高新区智慧招商平台 (Smart Investment Platform) and 策源资本项目管理平台 (Project Management Platform) for digital operations. The fund portfolio includes specialized mother funds for AI (100亿元), low-altitude economy (50亿元), digital culture (50亿元), and pilot testing (20亿元), collectively forming a full-lifecycle capital support service system covering '资助—种子—天使—创投—产投—并购' stages.

Differentiator

Problem solved

Functional benefit

Brands

• 产业基金: Industrial fund business segment focusing on building multi-level fund clusters across the full lifecycle of enterprise development (资助—种子—天使—创投—产投—并购).
• 产业投资
• 产业研究
• 产业服务
• 策源资本/新经济创投项目信息填报

Quantifiable outcome

• Built a ¥3,236 billion industrial fund cluster with 154 funds — the largest among central and western Chinese industrial parks
• +3 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• 北京大学成都研究院 (Peking University Chengdu Research Institute)coreStrategic or Co-development Partner · 24 July 2025Co-signed the '到成都·投未来'倡议书. This partnership leverages Peking University's research capabilities to support technology transfer and commercialization in Chengdu High-Tech Zone.
• 天府绛溪实验室 (Tianfu Gouxi Laboratory)coreStrategic or Co-development Partner · 24 July 2025Co-signed the '到成都·投未来'倡议书. 天府绛溪实验室 is a major research platform in Chengdu focusing on future technology. Ceyuan Capital co-invests with the lab and established the 策源未来科技城基金 to support its commercialization ecosystem.
• 清华大学 (Tsinghua University)coreStrategic or Co-development Partner · 24 July 2025Strategic partner for technology transfer and commercialization. Ceyuan Capital participated in establishing the 四川省高校科技成果转化基金 with Tsinghua University and the Sichuan SASAC, targeting early-stage university spin-offs.
• 四川航空集团有限责任公司 (Sichuan Airlines Group)coreStrategic or Co-development Partner · 25 March 2025沃飞长空 (a Ceyuan Capital portfolio company) signed a strategic cooperation with 四川航空 to develop '民航+低空出行' intermodal transportation. The partnership covers flight testing, facility operations, scenario expansion, talent cultivation, maintenance support, and entity operations — creating the first eVTOL + commercial aviation ecosystem in China.
• 华虹集团 (Hua Hong Group)coreStrategic or Co-development Partner · 1 July 2024Strategic cooperation partner leveraging the industrial resources of this major state-owned integrated circuit group to support Chengdu's semiconductor ecosystem development.
• 吉利 (Geely)coreStrategic or Co-development Partner · 1 July 2024Corporate anchor and industry chain leader. Geely's subsidiary 沃飞长空 has been invested in and attracted by Ceyuan Capital, establishing the AE200 eVTOL headquarters and manufacturing base in the Chengdu Future Tech City.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Shenzhen Capital Group (深创投): China's largest and most influential government-backed VC, with over 180 portfolio companies. Operates a similar multi-manager fund platform model under municipal government mandate, serving as the Shenzhen counterpart to Ceyuan's Chengdu function.
• Oriza Holdings (元禾控股): Suzhou-based state-backed PE/VC platform managing pooled industrial funds, explicitly listed as a Ceyuan partner institution. Highly comparable as a regional government-linked multi-manager platform serving a major industrial park.
• Shanghai Science and Technology Innovation Center Capital (上海科创基金): Shanghai municipal government-backed VC platform explicitly listed as a Ceyuan co-investment partner. Comparable in structure as a regional state-backed fund manager focused on science and technology investments.
• Beijing State-Owned Capital Operation and Management Center (北京国有资本运营管理): Beijing's primary state-owned capital platform managing pooled industrial investment funds. Functions as the regional counterpart to Ceyuan's mandate in Chengdu, deploying government capital through sub-fund structures into strategic sectors.

Broad incumbents

• CDH Investments (鼎晖投资): One of China's leading alternative asset managers covering growth buyouts, venture capital, and real estate. Listed as a Ceyuan ecosystem partner, operating at national scale with private capital structure.
• CICC Capital (中金资本): Investment arm of China International Capital Corporation, managing hundreds of billions in assets. Ceyuan's core LP partner via 2025 industrial fund cooperation agreement; operates nationally at far larger scale than regional government platforms.
• Legend Capital (君联资本): Leading growth-stage investment firm in China with strong technology and healthcare coverage. Listed as a Ceyuan partner institution, providing deal flow and co-investment opportunities in similar sectors.
• Hillhouse Capital (高瓴资本): Global investment firm managing ¥600B+ in assets, listed as Ceyuan partner. Operates at much larger scale and with private capital, but co-invests in the same Chengdu Future Industry Fund.
• China Reform Holdings (中国国新控股): National-level state-owned capital operation platform managing the China Reform Fund. Operates as a broader state capital vehicle than Ceyuan but serves a comparable function in channeling government capital into strategic sectors.

Regional players

• Guangzhou Industrial Investment Fund (广州产业投资基金管理): Guangzhou's municipal state-backed industrial investment platform, operating a comparable model of pooled industrial funds and direct investments targeting strategic emerging industries within its home region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments42 records

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

Frequently asked questions about Chengdu High-tech Ceyuan Capital