JunHe Assists CICC Capital's CICC Qiyuan Fund in their RMB 4 Billion Investment from the National Social Security Fund

After providing legal services in 2015-2016 for the establishment of CICC Qiyuan National Emerging Industry Venture Capital Guidance Fund ("CICC Qiyuan Fund"), JunHe recently assisted the company in raising RMB 4 billion from the National Council for Social Security Fund ("SSF").

Recently, the SSF invested RMB 4 billion in CICC Qiyuan Fund. This investment was an important step in the SSF’s support for the national "dual innovation" strategy and for its industrial upgrading, as well as to assume its social responsibility for economic development. In this project JunHe represented CICC Qiyuan Fund to raise capital from SSF. JunHe’s team participated in the justification and design of the transaction structure, as well as the negotiation and modification of the transaction documents. 

CICC Qiyuan National Emerging Industry Venture Capital Guidance Fund is one of the major funds under CICC Capital. Approved by the State Council and jointly invested by the National Development and Reform Commission, the Ministry of Finance and other social funders, it is the first national fund in China to focus on investments in venture capital funds and enterprises in emerging industries. CICC Qiyuan Fund has invested in hundreds of venture capital funds in China, with over 2,500 investments in startups and more than RMB 500 billion in corporate financing. The venture capital funds and enterprises in which CICC Qiyuan Fund has participated cover some of the key areas of national strategic emerging industries, effectively promoting industrial upgrading and development, and many "special, precise, special and new" SMEs that have made positive contributions to solving the problem of the bottleneck key technologies in China. 

As the legal advisor of this project, JunHe’s team communicated, coordinated and negotiated with the SSF, drafted and revised the various legal documents for this transaction, and won the client's recognition with their professional, rigorous and efficient expertise.

The leading partners of this project were ZHAO, Xiyong (Sammuel).