Beijing Municipal Commission of Development & Reform announced that the Beijing Government Guide Fund has selected second group partners and Fortune VC ranked first among the selected investment institutions with its outstanding performance.

It is reported that the Beijing Government Guide Fund under management by Fortune VC will be RMB 300 million in total, of which RMB 120 million will be contributed as fund I. As Beijing SME Service Center has rich resources of high quality SMEs, Fortune VC will have the investment priority.

18th February, 2009, Fortune VC, Beijing Municipal Commission of Development & Reform - SME Service Center and two other shareholders jointly signed the co-operation agreement, and announced the establishment of “Fortune Yinlei High-tech (Beijing) Venture Capital Co., Ltd”. The first general meeting of shareholders was held afterwards. Mr Liu Zhou, the chairman of Fortune VC, was elected as the fund’s Chairman of 1st Board of Directors, Mr Yan Xiaoping was elected as the fund General Manager, and Mr Xiong Weiyun , the CFO of the fund.