Shanghai's private equity fund ranks first in multiple data categories nationwide and is a leading player in the industry. Shanghai Securities Regulatory Bureau | Fund | Data
According to the latest data from the Shanghai Securities Regulatory Bureau, as of the end of June 2023, there were a total of 4046 private fund managers in Shanghai, managing 43258 funds with a management scale of 5.3 trillion yuan. The number of managed households, product quantity, and management scale all ranked first in the country. As the industry leader, Shanghai private equity fund institutions are currently entering an important turning point from "quantitative growth" to "quality improvement".
Based on the positioning of Shanghai as an international financial center, coupled with mature industrial support and opening-up policies, the private equity fund market in Shanghai has shown a rapid development trend in recent years, with the market continuing to grow and strengthen. Among them, securities institutions account for a high proportion, with over half of the management households and scale of securities private equity funds in Shanghai, and accounting for nearly half of the management scale of securities private equity institutions in the country. There are many top institutions, with 104 registered "billion dollar institutions" in Shanghai, accounting for more than half of the management scale in the Shanghai area, and the head goose effect is significant. Foreign institutions gather, with 28 out of 34 foreign-owned private equity fund managers registered in Shanghai, accounting for over 95% of the country's product quantity and management scale. Shanghai has become the preferred location and gathering place for foreign private equity giants nationwide. Private equity funds have become an important way of wealth management, with 618000 investors in products managed by Shanghai private equity institutions, of which institutional investors account for 17%.
On the basis of expanding market size, as important institutional investors in the multi-level capital market, the quality of Shanghai private equity fund institutions serving the real economy is constantly improving. In recent years, the Shanghai Securities Regulatory Bureau has promoted the implementation of tax preferential policies for venture capital funds and supported private equity funds to invest in small and early technology; Expand exit channels and promote the pilot transfer of private equity and venture capital shares, with a transaction amount of 5.3 billion yuan since the pilot; Cooperate with the pilot project of physical distribution of stocks by private equity venture capital funds, and promote the first nationwide order to land in Shanghai.
As of the end of June 2023, Shanghai Private Equity Venture Capital Fund has invested more than 32000 equity projects in unlisted domestic enterprises and enterprises listed on the New Third Board, forming an equity capital of 1.3 trillion yuan. Taking the Science and Technology Innovation Board as an example, out of 83 listed companies in Shanghai, 72 received investments from 661 private equity venture capital funds before going public. In terms of investment industry, Shanghai private equity venture capital funds invested more than 1 trillion yuan in information technology services, semiconductors, machinery manufacturing, Internet services, electronic equipment, biomedicine and other industries, accounting for 57% of the total. In 2022, the number and scale of new investment projects in the above-mentioned fields rank among the top in various industries, reflecting precise support for innovation and development in key areas.
It is worth mentioning that in recent years, various types of "pseudo private equity" and "disorderly private equity" in the Shanghai private equity fund industry have been effectively cleaned up, and the industry ecology has gradually been purified and continues to improve. Since the implementation of the Interim Measures for the Supervision and Administration of Private Equity Investment Funds in 2014, the Shanghai Securities Regulatory Bureau has conducted investigations on 44 private equity institutions and imposed administrative penalties on 12 cases of illegal and irregular private equity funds. Among them, 218 administrative regulatory measures were issued and 35 administrative penalty decisions were made, focusing on 8 risk areas related to real estate, related industries, stakeholders, and stability. In the past three years, although the number of private equity fund institutions in Shanghai has decreased by 14%, the number of products and management scale have increased by 86% and 72% during the same period, accelerating the formation of a good ecosystem of survival of the fittest.
