What's past is prologue. China's equity investment industry formally bid farewell to 2021 and opened the new journey of 2022.

For the VC/PE industry, the just-passed 2021 was a year bathed in spring breeze.

In 2021, China's fund of funds industry finally ushered in an explosive period. When fund of funds are strong, venture capital gathers; when venture capital is active, industries prosper. The leading role of fund of funds in driving industrial development is deeply rooted in people's hearts. Local governments increasingly value fund of funds, capital investment promotion has become prevalent, and local fund of funds have exploded. The fund of funds industry trends toward refined development, with frequent establishment of diversified, specialized, and industrialized fund of funds. Multiple subdivided sectors welcomed RMB 10 billion fund of funds, such as semiconductors and big health. The new hotspot of carbon neutrality also brings tremendous opportunities.

Beyond fund of funds, insurance capital has fully opened fire as LPs, participating in the establishment of multiple fund of funds and funds. Requirements for insurance capital investing in VC have also been significantly relaxed. The gates of bank wealth management have also opened to the equity investment industry. According to our incomplete statistics, bank wealth management subsidiaries have invested over RMB 11 billion as LPs. Listed companies and entrepreneurial nouveau riche are flocking to become LPs... The VC/PE industry is facing critical development opportunities.

Against this backdrop, based on existing data support and research analysis, the Fund of Funds Research Center officially released its 2021 annual rankings on January 6, 2022, to encourage excellent institutions and talents in the private equity fund of funds and fund industry, promoting the healthy development of the equity investment industry.

Harvest Capital was honored on the "2021 Best PE Fund TOP 30" rankings.

Mr. Alan Song, Chairman and Founding Partner of Harvest Capital, was honored as "2021 Most Fund-of-Funds-Welcomed PE Fund Founding Partner TOP 20"