Sungang VC/PE Cluster launched

In a major move to reshape its financial landscape, Luohu District inaugurated the Gaotou Tower and launched the Sungang VC/PE Cluster on June 30.

The event signaled a massive capital influx into the district, with the cluster already attracting more than 60 billion yuan (US$8.84 billion) in newly managed assets.

The launch was supported by the Shenzhen Municipal Financial Office and the Luohu District Government, marking the debut of a comprehensive “three platforms, one fund, and one competition” development package designed to turn Luohu into a premier destination for venture capital (VC) and private equity (PE).

The Sungang VC/PE Cluster is centered in the Gaotou Tower, the new headquarters of Shenzhen High-Tech Investment (SZHTI). The cluster aims to create a specialized ecosystem for private equity firms, early-stage incubators, and quantitative trading institutions.

To meet the high-tech demands of quantitative firms, the cluster offers:

● Class-A data centers: Providing essential high-speed computing power.

● One-stop services: Administrative support for registration, tax, and policy applications, allowing firms to handle all business "within one building."

● Financial connectivity: Direct links to private banks, wealth management firms, and insurance asset managers.

Since its planning phase, the cluster has attracted more than 50 fund managers and tech subsidiaries, resulting in an 85% increase in local assets under management.

Hu Xiaoyan, secretary-general of the Shenzhen Wealth Management Association, introduced a “four ones” service system to support the cluster. This includes a “fund full-chain alliance” — the first of its kind in Shenzhen — which connects fund providers, investment managers, and ecosystem partners. More than 56 leading institutions, including prominent quantitative firms like Ubiquant Investment, have already joined the alliance.

The event also saw the launch of two critical incubation platforms. One is Angel Hui · Luohu Incubator, a partnership between the Luohu district government, SZHTI, and Shenzhen Angel FOF. It focuses on seed-stage startups in AI, semiconductors, and smart hardware.

The other is Shenzhen SME Industry-Finance Promotion Center (Luohu Sub-center), which is dedicated to helping small and medium enterprises with financing and IPO preparations.

As the historic birthplace of Shenzhen’s financial industry, Luohu is currently diversifying its financial structure. By incorporating private equity into its five-year plan for the first time, the district is transitioning from a bank-dominated economy to a more dynamic venture capital-led model.

With the launch of the Sungang VC/PE Cluster, the Gaotou Tower is set to become a vital landmark for industry-finance integration in the Guangdong-Hong Kong-Macao Greater Bay Area, offering a scalable “Luohu Model” for technology and financial reform.