"Guarantee + Certificate" shared multi-party risk, patient capital drip irrigation for early-stage sci-tech innovation projects

Reporters have learned from Zhongguancun Science and Technology Guarantee that it recently provided professional financial services for Leishi Investment, helping it successfully issue a 5-year “Technology Innovation Bond” with a registered scale of 100 million yuan.
This bond is the first in the country jointly supported by banks and guarantee institutions through the creation of a Credit Risk Mitigation Certificate (CRMW), issued by a private venture capital organization, marking a new breakthrough in the bond financing model for private enterprises.

It is understood that the Credit Risk Mitigation Certificate (CRMW) is a tradable instrument created by a third-party organization to provide credit risk protection for debt, serving as an important tool for market-based diversification of credit risk.
It is like an “insurance” that offers protection against specific credit risk events for buyers of tech innovation bonds, playing a significant role in promoting reasonable bond market pricing, serving the real economy’s financing needs, and improving risk management efficiency.

A relevant person in charge of Zhongguancun Science and Technology Guarantee explained that the company leverages its credit enhancement services, jointly innovates with Hangzhou Bank to introduce the CRMW tool, and constructs a “Guarantee + Certificate” dual insurance mechanism, effectively mitigating bond credit risk.
This approach significantly boosts market investor confidence, attracts more patient capital, and helps tech innovation enterprises accelerate R&D processes, speed up the industrialization of technological achievements, and seize opportunities in fierce market competition to achieve breakthroughs.

It is reported that Leishi Investment adheres to the principles of “early investment, small investment, long-term investment, and hard technology.”
By the end of 2025, its managed funds will exceed 11 billion yuan.
With deep roots in information technology, artificial intelligence, high-end equipment manufacturing, and new materials, it has been providing precise “patient capital” to early-stage tech innovation projects, helping key tech enterprises overcome bottlenecks in technological industrialization and achieve a rapid transition from technological advantage to market scale.

The funds raised from this bond will be fully directed into the tech innovation field through fund contributions, equity investments, and other methods, focusing on key industries such as data security, biomedicine, next-generation information technology, integration of science and culture, and high-end equipment manufacturing in Beijing.
This will fully leverage the “capital amplifier” role of private venture capital, ensuring that billions of yuan directly support tech innovation enterprises, forming a strong joint force to promote the development of the tech innovation industry.

Source: Beijing Daily Client

【Source: Jingbao.com】