Aiming to find "patient capital" and "long-term capital", the first phase of 1 billion yuan, Fudan Science and Technology Innovation Fund of Funds was launched

Release time:Apr 24, 2024 04:38 AM

In the investment world, the Yale University Fund of Funds is legendary, with an annual return of 10.9% in the past ten years, 3.0% higher than the average return. Focusing on the long term and being patient are among its core principles.

On December 3, the "Fudan Science and Technology Innovation Fund of Funds" jointly initiated by Fudan University, local governments, state-owned enterprises and market-oriented institutions was launched. The first phase totaled 1 billion yuan. Its goal is to guide the sub-fund to become " “Patient Capital” and “Long-Term Capital.”

What are the highlights of Fudan’s fund of funds focusing on “technological innovation”? A reporter from Liberation Daily and Shangguan News conducted an exclusive interview with Sun Pengjun, the head of Fudan Science and Technology Innovation Fund of Funds.

[Not just the money, but more importantly the empowerment behind it]

The so-called "fund of funds" is a "fund of funds" that does not invest in specific projects. It is a fund that specifically invests in "sub-funds".

"The identity of Fudan Science and Technology Innovation Fund of Funds mainly comes from three dimensions." Sun Pengjun introduced. First, the disciplinary characteristics. Fudan University is good at basic research and has burst out original innovations in the fields of life sciences, new generation integrated circuits, artificial intelligence, etc. More; the second is the achievement transformation ecology, which places more emphasis on openness, cooperation and collaboration; the third is the operating mechanism, which places more emphasis on "market-oriented mechanisms and professional operations" and leaves professional matters to professional people.

Why is openness, cooperation and collaboration so important? Sun Pengjun believes that basic research is the foundation for the transformation of results, but to burst out new productive forces, it is not feasible to rely solely on the university itself to build a relatively closed ecosystem.

The road from an original innovation to a product is long, and it takes many "fellow travelers" to navigate this road. Sun Pengjun said that only "patient capital" and "long-term capital" can help major original achievements to finally achieve complete industrialization. On the other hand, they hope to find capital that is willing to be a long-term "partner" of scientists, "not just money, but more importantly, the empowerment behind it."

[From the innovation end to the industry end, I want to make a difference]

Innovation is one of Shanghai's greatest strengths. The preparatory team for the "Fudan Science and Technology Innovation Fund" found in preliminary research that although the number of patents generated by universities every year is very high, there are structural 'blocking points' on the conversion side. A great scientific research result often does not turn into new productivity after several years. "We established the fund not to follow the trend, but to feel this 'blocking point' and the social needs behind it. The entire chain from the innovation end to the industry end has not yet been opened up. We want to make a difference." Sun Pengjun said.

"The fund takes the name of Fudan and gives priority to supporting Fudan's scientific and technological achievement transformation projects and alumni innovation and entrepreneurship projects. However, we do not just invest in Fudan, let alone a 'small circle', but seek out the best investment management teams from around the world."

"Currently, most direct investment funds in the market prefer to invest in projects that can be listed on the Science and Technology Innovation Board as soon as possible. They often don't pay enough attention to cutting-edge and early results. They have to wait until the product comes out, the market becomes clear, and the team is stable before they are willing to invest." Fudan Science and Technology Innovation Fund of Funds' aim is to invest in small businesses, invest early, and invest in hard technologies to meet the country's technological innovation needs."

To do something, we also want to build a "tropical rainforest" ecology.

"Why are there so many startups near Stanford University? Because there is a positive ecosystem, a strong atmosphere of innovation among scientists, and there are early-stage capital, professional management talents, intellectual property lawyers, etc. who truly understand scientists."

Sun Pengjun is a senior achievement transformation person with ten years of experience, and has embarked on a "from 1 to 10" transformation path with Fudan characteristics. "Compared to ten years ago, everyone's ideas are changing. The school has completely opened up the protection of intellectual property rights, and Shanghai has also laid out a modern science and technology innovation and industrial system. I am confident about moving forward."

Liu Duo, deputy mayor of Shanghai, Qiu Xin, secretary of the Party Committee of Fudan University, and Jin Li, president of Fudan University and academician of the Chinese Academy of Sciences, attended the launching ceremony.


Aiming to find "patient capital" and "long-term capital", the first phase of 1 billion yuan, Fudan Science and Technology Innovation Fund of Funds was launched
Just last month, it was renamed and appeared on the stage of the National Center for the Performing Arts. This Shanghai original master play went to Tsinghua University and Beijing Dalian for three performances.
Just last month, it was renamed and appeared on the stage of the National Center for the Performing Arts. This Shanghai original master play went to Tsinghua University and Beijing Dalian for three performances.

On the occasion of the 10th National Constitution Day, on the evening of December 4th and today, Shanghai teachers and students brought the youth version of the original drama "The Stand" to Tsinghua University for two consecutive performances, which resonated with audiences of all sizes. Tomorrow, there will be a performance at Peking University. A reporter from Liberation Daily and Shangguan News learned that a month ago, the professional version of the original large-scale drama "Lei Jingtian" was renamed "Stand" and was performed at the National Center for the Performing Arts for three consecutive performances. It received good reviews and also set the stage for this youth version of the drama tour. Kick off. Students from Tsinghua University and affiliated schools watched the performance. "On National Constitution Day, it is very meaningful for us to perform again. We will always remember the oath." said Du Yongqiang, a student from Huazheng Communication College who plays Lei Jingtian. It is reported that this law-themed drama performed at Tsinghua University and Peking University was produced by East China University of Political Science and Law and was composed entirely by Huazheng students.

Looks like a bug outside? Famous teachers such as Chen Mo put more blame on parents. The family is like a dragon, and the "epidemic baby"
Looks like a bug outside? Famous teachers such as Chen Mo put more blame on parents. The family is like a dragon, and the "epidemic baby"

Have you also noticed that many children have two different looks at home and outside: at home, they are like a dragon, lively; outside, they are like a worm, timid? Some people say that this is a kind of social anxiety among the "epidemic babies" born in the past three years. Is that true? Recently, Chen Mo, an expert in child and adolescent psychological education, a special supervisor of the Psychological Counseling Center of East China Normal University, and the former secretary-general of the Basic Education Professional Committee of the Shanghai Psychological Association, attended the class at the Qibao Huangdu Neighborhood Center in Minhang. Parents share how to help their children grow up healthily, with sharp humor and to the point. Chen Mo started the class. "Children are very outgoing at home and are afraid of socializing outside?" Teacher Chen Mo reminded parents not to pay too much attention to and protect their children at home. We should make good use of "housework"

How to protect "Children's 100 Languages" from 99 being stolen? , peanut allergy and mud resistance
How to protect "Children's 100 Languages" from 99 being stolen? , peanut allergy and mud resistance

November 25, Shanghai, China. There are two Chinese-translated books that have aroused heated discussions among educators. One is "The Pampered Mind: How is "Steel" Unforged? ", and the other is "Children's One Hundred Languages ​​- Reggio Emilia Experience in the Transition Period". Kindergarten "Calligraphy". [Peanut Allergy Forms a "Paradox"] Regarding "The Pampered Mind", Professor Tong Shijun, President of NYU Shanghai, cited a data case of "Peanut Allergy" in the book: In the United States, starting in the 1990s, due to concerns about sudden peanut allergies In the early 2000s, kindergartens and other educational institutions kept away from peanuts and excluded peanuts and other peanut products; however, in the 21st century, the proportion of children allergic to peanuts in the United States increased from only 4 per 1,000 people to 1,000 people. Up to 14 people. contrary to expectations

The scale and number of participants at this Shanghai Education Expo have reached new heights, showcasing good schools at home.
The scale and number of participants at this Shanghai Education Expo have reached new heights, showcasing good schools at home.

The 20th Shanghai Education Expo 2023 has concluded recently. The latest data from the summary meeting of the 20th Shanghai Education Expo 2023 showed that during the offline exhibition from September 15 to September 17, the Education Expo attracted a total of 115,000 people to the site to participate in various displays and interactive activities. 2.26 million people "visited" this year's Shanghai Education Expo online through the Shanghai Education Expo mini program. The Shanghai Education Influence Electronic Map has been viewed more than 350,000 times, and the Shanghai Education Live Broadcast has been viewed more than 8.36 million times in total. The online exhibition, which lasted for more than a month, reached a record high in scale and attendance. The 20th Shanghai Education Expo in 2023, guided by the Shanghai Municipal Education and Health Work Party Committee and the Shanghai Municipal Education Commission, and hosted by the Shanghai Education Press and Periodicals Corporation, has the theme of "Creating a first-class urban education and building a dream of a powerful country in education".

The whole family participated in the night concert in the library, from the Shanghai Aerospace System. The second millionth audience of Qian Xuesen Library is her night concert | My Motherland | System
The whole family participated in the night concert in the library, from the Shanghai Aerospace System. The second millionth audience of Qian Xuesen Library is her night concert | My Motherland | System

Since the summer of this year, the number of visitors to the Qian Xuesen Library of Shanghai Jiao Tong University has been steadily increasing, with a daily average reception of over 2000 people in July, exceeding the historical level of the same period. On the evening of the 21st, Huang Jing, a young science and technology worker from the Shanghai Aerospace Control Technology Research Institute, and her family entered the library and luckily became the second millionth visitor to the Qian Xuesen Library. That night, Huang Jing and her family signed up for the "More Night, More Beautiful - Me and My Motherland" night concert event held at Qianguan. In order to allow her family to have a better understanding of the outstanding achievements of Qian Xuesen, the founder of China's aerospace industry, before the performance, she specially arrived at the museum half an hour in advance to carefully visit the basic exhibition of "People's Scientist Qian Xuesen" inside. To her surprise, Qian Xuesen Library prepared a certificate of honor for Huang Jing's second millionth audience, as well as the Qian Library