National VC Guidance Fund

National VC Guidance Fund The National VC Guidance Fund, initiated by China's NDRC and Ministry of Finance in December 2025, commits CNY 100B ($14.3B) in government capital with a target of CNY 1T ($142.7B) including sub-funds. The 20-year lifespan and 70-plus percent allocation to seed and early-stage enterprises make this one of the world's most patient capital vehicles. Three regional funds covering Beijing-Tianjin-Hebei, the Yangtze Delta, and the Greater Bay Area each target CNY 50B. Priori