His comments align with heated discussions among policymakers and investors about nurturing long-term capital capable of accompanying tech companies through extended growth cycles.
By emphasizing long-term, “patient” investments, the initiative aims to support high-tech startups through every stage of their development — from initial research to full-scale industrialization.
Hangzhou’s Runmiao Fund, with an initial size of 2 billion yuan ($290 million) and a 20-year lifespan, focuses on providing first-round financing for early-stage technology firms.
