Changshi Capital has recently concluded a successful fundraising round, securing RMB 728 million for its third-phase hard technology fund. Its inaugural hard technology fund has deployed capital into 24 projects, with remarkable outcomes: 11 projects, including AMEC and Suzhou Tianmai, have successfully gone public, while another 2 are currently progressing through the IPO pipeline. This fund boasts a distribution-to-paid-in (DPI) ratio close to 2 times. Additionally, the second-phase hard technology fund has 4 projects entering the IPO application stage, and anticipates filing for 6 more companies within the next two years. Impressively, the IPO success rate for both phases of funds exceeds 50%, underscoring the efficacy of Changshi Capital's Founders' Fund model.