Shanghai Zhangjiang Technology Venture Capital Co will invest 1 billion yuan ($147.5 million) in an angel investment in the next three years to stimulate scientific and technological innovation.

The Shanghai-based company made the announcement on Jan 6 at a summit that brought together representatives from science and technology innovation enterprises, young scientists, venture capital professionals and industrial leaders to share their insights into technological innovation.

A summit  opens on Jan 6, to discuss future technology innovation. [Photo/WeChat account: gh_01c6f7b4cf3d]

The company plans to focus on the life and health industry and promote the deep integration of incubation with investment so as to form an effective capital-led mechanism to help startups improve their capacity for further growth.

According to Yu Hongliang, president of the company, 15 companies owned by Shanghai Zhangjiang Technology Venture Capital Co were placed on the securities market in 2022, with 12 of those companies being listed on the Science and Technology Innovation Board. It has invested in more than 100 businesses, which are listed on domestic and international capital markets.

The corporation has invested over 4 billion yuan in more than 125 projects to date. A contract investment of more than 3 billion yuan has been made in more than 50 funds.

The company struck tentative agreements with a number of investment companies at the event on Jan 6 in relation to digitalization, AI diagnostics, imaging equipment, and other cutting-edge fields.