
Shanghai private equity assets hit $360 billion in 2025, study finds
Investment activity recovered strongly in 2025, with both deal value and transaction volumes reaching record highs after a slump in 2024.

Investment activity recovered strongly in 2025, with both deal value and transaction volumes reaching record highs after a slump in 2024.

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.