On November 14, 2024, the 7th Partners' Conference and Portfolio Company Exchange Meeting of West Fountain Global Fund was successfully held at the Four Seasons Hotel Suzhou.

Representatives from Shenzhen Capital Group, Shumyip Group, Shenzhen Dutyfree Group, and individual LPs including Zhou Guohui of Eternal Asia, Li Feng of Txd Technology, Lin Wentan of Tinno Technology Group, Ye Zonggao of Sane Group, as well as the managing partners, directors, and investment team of West Fountain Global Fund, attended the conference both online and offline.

Prior to the Conference, representatives of West Fountain Global Fund, together with representatives from portfolio companies, visited Liu Xiaotao, Secretary of the Suzhou Municipal Committee, to engage in an in-depth discussion on the settlement of high-quality overseas enterprises in China and the services provided to Chinese companies for cross-border expansion. Suzhou, as a leading ‘Smart Manufacturing City’ and an open major city, has successfully built three trillion-yuan industries: electronic information, high-end equipment, and advanced materials. Through its top-tier resource allocation and mature operational systems, West Fountain Global Fund has become a pioneer in China’s venture capital industry, both in terms of ‘going global and bringing in’. In the future, the fund plans to further deepen its efforts in Suzhou, assisting the government and enterprises in connecting with overseas resources, strengthening international cooperation, and promoting industrial upgrading.

During the conference, the management team of West Fountain Global Fund provided a detailed report on the fund's investment and operational performance for the year 2023, as well as a summary of the investment achievements since the fund's inception and the progress of the 2024 annual work plan. Over the past eight years, the fund has demonstrated outstanding performance in its global high-tech investment strategy. It has invested in dozens of well-known enterprises both domestically and internationally, including ASR, Bestechnic, Fudan Microelectronics, E-Town Semiconductor, Desktop, Formlabs, Ambiq, Grail, Innoviz, and Exceed, covering major developed countries such as the United States, Germany, Israel, and Japan. To date, over 40% of the invested companies have achieved exits through global capital markets via IPOs or mergers and acquisitions. In the past three years, while the global economic recovery faced headwinds, the fund's exit performance remained strong, continuously distributing investment exit returns to LPs for three consecutive years. In 2023, the fund achieved its highest-ever annual exit return distribution since its inception. At the same time, the fund successfully assisted 60% of its invested companies in completing refinancing, ensuring no disruption in their capital chains, and none of the invested companies triggered buybacks. With the strong support of all partners, the management team successfully completed its annual tasks for 2023. By utilizing differentiated post-investment value-adding strategies, the team promoted enterprise performance growth and continued to increase investments in leading companies within specific industry sectors.

At this Partners' conference, the Investment Enterprise Exchange Forum was also held, inviting distinguished entrepreneurs from both domestic and overseas markets to engage in face-to-face discussions with the fund's partners. The U.S. team of West Fountain Global Fund also shared key insights on the CFUIS Risk Guidelines and the opportunities and innovative approaches for Chinese companies expanding overseas. Distinguished entrepreneurs from both domestic and international markets presented detailed explanations on topics such as why to go global, how to go global, why overseas companies choose China, and how to implement co-creation strategies in China. They did so by highlighting the unique genes and core advantages of Chinese and overseas enterprises. U.S. CFUIS lawyers also provided an in-depth analysis of the process and key points for advancing compliance in overseas investments, while offering strategic insights on how to use innovative equity structures to facilitate corporate restructuring and cross-border mergers and acquisitions. With the strengthening of China's national power, domestic companies have shifted from passively absorbing and learning to actively exporting brands and technologies. "Going global" and "embracing the world" have become inevitable choices for excellent domestic enterprises. At the same time, many ambitious overseas companies are eager to work with Chinese enterprises to create unique ecosystems and incubate disruptive technologies. All partners are highly satisfied with the development achievements of the invested companies, both domestically and internationally, and are very willing to safeguard their business growth by providing multidimensional resource support.

All partners of West Fountain Global Fund highly praised the fund management team's outstanding investment performance amidst the challenging global economic conditions. They fully recognized the team's professionalism, dedication, and hard work. The representative from Shumyip Group stated, "We are grateful for the hard work of the fund management team, which has brought substantial returns to the partners. The fund carries many expectations, and the cooperation between the partners and the management team has been very pleasant over the years. We hope to strengthen this cooperation further in the future." The representative from Shenzhen Dutyfree Group commented, "We hope the fund management team will continue to maintain a prudent investment approach, while striving for even higher investment returns. The Dutyfree Group also looks forward to more business expansion and cooperation under the framework of West Fountain Global Fund, particularly from the perspectives of mergers and acquisitions and capital operations." Lastly, The representative from Shenzhen Capital Group expressed, "The establishment of West Fountain Global Fund aimed to focus on international business development and cultivate a market-oriented team to facilitate connections between China and the U.S. through private channels. It is gratifying to see the fund team grow and mature, continually expanding its capabilities and resources. They have been adept at capturing investment opportunities in the ever-changing market environment. Going global is both the direction and the trend. We hope West Fountain Global Fund will conduct more reviews and reflections, continuously improving, not only assisting domestic companies to go global but also bringing more high-quality U.S. and other overseas projects to China."

The 7th partners' conference of West Fountain Global Fund has successfully concluded. We are grateful to all the leaders and friends who have supported the fund. In the future, West Fountain Global Fund team will continue to focus on the value growth of great enterprises, fully support the global expansion and profit growth of invested companies, and strive to create even greater investment returns for our partners.