EnergyTrend has learned that on August 24, Huabao New Energy issued an announcement stating that its wholly-owned subsidiary, Shenzhen Huabao New Energy Investment Co., Ltd., plans to jointly establish an industrial fund with Shenzhen Qianhai Hongzhao Fund Management Co., Ltd., with a total target subscribed capital of RMB 250 million.
Among this, Huabao Investment intends to subscribe RMB 100 million with self-owned funds, accounting for 40% of the total target subscribed capital; Qianhai Hongzhao Fund, acting as the general partner, intends to subscribe RMB 10,000, accounting for 0.004%; the remaining RMB 149.9 million will be raised from other qualified investors.
The industrial fund is tentatively named "Huabao-Hongzhao Industrial Fund Partnership (Limited Partnership)," with Qianhai Hongzhao Fund serving as the executive partner and manager. Currently, the fund is still in the preparation and fundraising stage, has not yet completed business registration, and remains subject to filing with the Asset Management Association of China (AMAC).
In terms of investment focus, the fund will primarily target the portable PV and energy storage supply chain, as well as smart hardware. It will also cover strategic emerging industries and technological innovation fields, such as aerospace, robotics, computing power, and artificial intelligence (AI). Investment approaches will focus on investing in venture capital funds, private equity funds, and special sub-funds, alongside appropriate direct equity investments, co-investments, and follow-on investments.
According to the agreement, no less than 80% of the fund's investable capital will be allocated to sub-fund investments, while non-sub-fund investments—such as direct equity investments, co-investments, and follow-on investments—will collectively not exceed 20%. The fund has a tenure of 7 years, comprising a 4-year investment period followed by a 3-year exit period.
Huabao New Energy stated that the establishment of this industrial fund aims primarily to leverage the research capabilities and resource advantages of professional investment institutions to further expand the industrial layout related to the company's core business, broaden investment pathways, and uncover high-quality projects. It is also intended to drive industrial synergy and capital empowerment, injecting new momentum into the company's long-term development.
Source：EnergyTrend