Sungent and SCGC launch strategic cooperation
Sungent Holding Group, an SIP-based multi-business conglomerate, and Shenzhen Capital Group Co Ltd (SCGC), a venture capital firm headquartered in Shenzhen, a city in South China’s Guangdong province, signed an agreement in SIP on July 16 to launch strategic cooperation in projects concerning development, construction and operation of industrial parks and other business carriers in SIP, Yangtze River Delta region and the Guangdong-Hong Kong-Macao Greater Bay Area.
Concurrently, the two parties jointly established the Sungent-SCGC Fund to provide financial support for the cooperation. Sungent-SCGC Industrial Investment Fund Management Co Ltd, a joint venture founded by the two parties, is in charge of the management of the fund.
The two parties will also cooperate in a number of REIT (real estate investment trust) products for the purpose of improving the economic efficiency of asset management.
Moreover, the companies said they will enhance efforts in the future to promote the development of a brand-new financial operation platform that boasts innovative fund management for development and operation of business carriers and industrial projects.