DeHeng Appointed as Perennial Legal Advisor for Qinghai Province's First Government Investment Fund of Funds

2024-03-28

In November 2023, Qinghai Province’s first government investment fund of funds—the Qinghai Government Investment Fund for High-Quality Development (Limited Partnership) (“Qinghai Fund of Funds”)—was officially registered with the Asset Management Association of China. With its registration completed, the fund is now fully operational and ready for external investments.

Established with contributions from the provincial government, the Qinghai Fund of Funds is managed by Qinghai Jincai Private Equity Fund Management Co., Ltd. With a committed capital of 5 billion yuan, the fund focuses on leveraging Qinghai’s unique resources and advancing investments in the province’s initiatives to grow into a world-class salt lake industry base, a national clean energy industry hub, a global ecotourism destination, and a major exporter of green organic agricultural and livestock products, ensuring that they receive no less than 70% of sub-fund investments. It also supports the growth of small- and medium-sized enterprises, startups, and innovations, including the development of special-purpose emerging materials, advanced equipment manufacturing, highland biological and healthcare industries, and the digital industry. 

The DeHeng team was led by partner Guo Weifeng of the Beijing Office, with support from lawyers Tang Ruchuan, Cao Qi, Wang Yunfeng, Du Jiaji, and Fu Chen. They provide comprehensive legal counsel to support the daily operations of the Qinghai Fund of Funds.