Established with over-raised funds, the new S continuation fund under the umbrella of JingShuiHu Venture Capital has successfully completed all paid-in capital contributions and investment deliveries.

Recently, the new - phase S continuation fund under Jingshuihu Venture Capital - Suzhou Industrial Park Jingshuihu Saier Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Jingshuihu Saier") achieved oversubscription, was successfully established, and completed all paid - in capital contributions and investment delivery.

This is the second S continuation fund established by Jingshuihu Venture Capital recently. At the early stage of fundraising, this fund received over - subscription intentions from many investment institutions within a short period. Eventually, the closed - end scale tripled compared to the previous S continuation fund ("Jingshuihu Dingchen"). The Jingshuihu team also completed the fund establishment and investment delivery work in a fast - paced and efficient manner.

The LPs participating in Jingshuihu Saier this time are all professional, well - known, and experienced investment institutions and mother funds, including Yuanhe Chenkun, CSSC Insurance, Wuxi Venture Capital, Boyuan Capital, Huikai Investment, Huicui Hengyi, Kaitai Vision, and HeGuang FOF. The professional capabilities of each participating party in aspects such as S transactions, relevant industry knowledge, and project evaluation are also important foundations for the efficient fundraising and investment delivery of this S continuation fund. Among them, Yuanhe Chenkun, as the core investor of Jingshuihu Dingchen, based on in - depth understanding and cooperation foundation with Jingshuihu and long - term optimism about the development of relevant projects, joined hands with Jingshuihu Venture Capital again and took a large - scale leading investment in this S continuation fund.

With the completion of this S transaction, combined with the multiple exit dividends completed previously and the heavy - position projects still in the IPO review process, the distribution funds returned to investors in "real money" by Jingshuihu Venture Capital's first - phase blind - pool fund have far exceeded the total principal of the entire fund and the total hurdle return. At the same time, it still retains project assets with the potential to continuously generate higher excess returns. This blind - pool fund has achieved return performance with core indicators significantly higher than those of funds of the same vintage year in the market.

It is worth mentioning that the investor types, trading styles, and decision - making mechanisms of Jingshuihu Saier are more diversified. Not only are there market - oriented mother funds and insurance funds participating, but also central and local state - owned assets and US - dollar institutions are providing support. More importantly, the transaction amount of this S continuation exceeded the total scale of the fund where the target assets are located. This is a relatively important exit transaction for the fund in the exit period. Investors make more cautious decisions, which also puts forward more complex and detailed requirements for transaction design, communication, and compliance procedures.

In response to the new challenges of this transaction, the Jingshuihu team completed a series of work in a short time, including transaction scheme design, coordination of due diligence on underlying assets, balance of quotas among participating parties, and promotion of decision - making. At the same time, the Jingshuihu team maintained intensive communication with the investors of the fund in the exit period, obtained the unanimous resolution of all LPs, and coordinated the schedules of all parties to ensure the efficient implementation of this transaction and achieve a satisfactory trading situation for all parties. In terms of the density and intensity of specific implementation work, Jingshuihu Saier far exceeded the previous S continuation fund. In this process, the Jingshuihu team also once again accumulated practical experience in handling complex transactions, achieved an upgrade in capabilities at the S continuation transaction level, and provided more reference systems for Jingshuihu's subsequent continuous exploration and implementation of diversified exits.

Zhang Yi, the founding managing partner of Jingshuihu Venture Capital, said: "This continuation fund has a large capital scale, many participating institutions, and a fast trading pace. It is a new and important S transaction efficiently completed by the Jingshuihu team based on previous experience, and also an important milestone event for Jingshuihu Venture Capital as a fund manager - this transaction has made the return amount distributed to investors by Jingshuihu's first - phase blind - pool fund far exceed the total scale of its principal. Our first - phase blind - pool fund has survived two capital winter cycles from 2018 - 2019 and 2023 - 2025. It is not easy to achieve such phased performance data. We would like to especially thank the efforts and achievements of the entrepreneurs we invested in, as well as the execution ability of our team, which enables us to effectively seize the fleeting investment and exit opportunity windows. In addition, the over - subscription of this S continuation fund once again verifies the high recognition of investors for Jingshuihu Venture Capital and the quality of the projects we invested in in the past. With the vigorous development of the artificial intelligence industry and the gradual implementation of relevant applications, which release greater market demand, we also look forward to the relevant projects continuing to maintain high - speed development and bringing generous returns to investors."