The National Venture Capital Guided Fund will form a trillion-dollar scale fund with the patience capital accompanying businesses in the "long run".

Today, the National Development and Reform Commission held a special press conference to introduce the work of the National Entrepreneurship Investment Guidance Fund. The relevant person in charge stated that the National Entrepreneurship Investment Guidance Fund, officially launched today, will play a leading role in attracting central funds and driving wide participation from local governments, central enterprises, financial institutions, private capital, and others, forming a fund size of trillions of yuan. The guidance fund will focus on investing in seed, start-up, and early to mid-stage enterprises, supporting companies in cutting-edge fields to carry out original and disruptive technological breakthroughs. The fund has a lifespan of 20 years, with a 10-year investment period and a 10-year exit period, providing patient capital to accompany companies in the long run.