Frost & Sullivan releases the '2025 CFO White Paper on China's PE/VC Fund Industry'

This white paper research adopted a combination of questionnaire surveys and in-depth interviews, targeting 71 CFOs from mainstream PE/VC institutions in China to comprehensively understand the current layout and market response strategies of Chinese PE/VC institutions in areas such as patient capital practice, hard technology investment, fundraising difficulties, digital transformation, and fund exit paths. At present, the term 'patient capital' is widely mentioned in the primary market, requiring LPs and fund managers to possess patience to accompany enterprises in their growth over the long term, promote the investment industry from financial investment to industrial investment, and emphasize value discovery and realization. At the same time, Chinese PE/VC institutions are continuously focusing on investments in the hard technology sector but also face challenges from two dimensions: the capital return cycle and market validation cycle. In the face of the dilemma of 'funding difficulties,' innovative fundraising channels such as science and technology innovation bonds and follow-on funds are gradually being applied.