Legal Trends in the Private Equity Fund Industry (December 2024/Issue 82)
Legal Service Trends of State owned Assets
and Funds Research Center
1、Lawyer Yang Chunbao's team assists two state-owned parent funds in Pudong New Area and Putuo District to participate in the establishment of a embodied intelligence industry fund (with a target total size of 10 billion yuan)
2、Lawyer Yang Chunbao and Lawyer Dai Xiaolong's team issued a legal opinion for Shanghai Caohejing Emerging Technology Development Zone Development Corporation to participate in the establishment of a cutting-edge fund
3、Lawyer Yang Chunbao's team assists Shenzhen Ouke Jian Biomedical Technology Co., Ltd. in successfully completing a Series A financing of over 100 million RMB
4、Lawyer Yang Chunbao's team assists Beijing Qingpai Technology Co., Ltd. in successfully completing the Pre-A round of financing
5、Lawyer Xu Jinke and Lawyer Chen Qian's team represented Bailian's commercial investment and venture capital to participate in the establishment of Bailian Guotai Junan Chuangling Fund (with a scale of 2 billion yuan)
6、The team of lawyers Xu Jinke and Chen Qian, representing China Mobile Beijing Fund and China Mobile Shanghai Fund, jointly invested in a WIFI AP chip (Fabless) R&D and design company
7、Chen Qian's legal team represents Jiushi Sports Fund in investing in a high-performance fiber and composite material manufacturing enterprise
8、Zhang Qiyuan's legal team provides year-round legal advisory services for Shanghai Industrial Transformation and Upgrading Equity Investment Fund Management Co., Ltd. from 2024 to 2025
Various announcements and notices of the association
The China Securities Investment Fund Industry Association (hereinafter referred to as the "Association") announced on December 6, 2024 that two private fund managers, including Guangdong Wenwen Venture Capital Co., Ltd., had abnormal operating conditions and failed to submit a special legal opinion in accordance with regulations within three months after the written notice was issued. The Association will cancel the registration of the private fund managers of these two institutions.
The association announced on December 20, 2024 that three institutions, including Shanghai Guanglan Asset Management Co., Ltd., cannot continue to meet the registration requirements for managers, and the association will cancel the registration of private fund managers for these three institutions.
On December 27, 2024, the association announced that nine private fund managers, including Hunan Chengfu Jiashi Fund Management Co., Ltd., had abnormal operating conditions and failed to submit a qualified special legal opinion within three months after the written notice was issued. The association will cancel the registration of these nine private fund managers.
Legal and Regulatory Developments
Premier Li Qiang chaired an executive meeting of the State Council to study policy measures
to promote high-quality development of government investment funds
The Supreme People's Court issues the Opinion on
Ensuring Technological Innovation with High Quality Trial Services
On December 31, 2024, the Supreme People's Court issued the
"Opinions on Ensuring Technological Innovation with High Quality Trial Services"
(hereinafter referred to as the "Opinions").
The Opinion proposes to improve the trial rules for venture capital funds and private equity investment funds,
strengthen the fiduciary obligations and legal responsibilities of fund managers, custodians,
and service institutions,
smooth the various links of fund fundraising, investment management, and withdrawal, and promote
the role of equity financing in supporting technological innovation.
Special Seminar on "Insurance Funds+Mother Fund" and
Annual Work Meeting of the Mother Fund Committee were held
Industry News
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