Most government industrial guidance funds are in the form of equity, and a few guidance funds can also invest in the form of creditor's rights.
From the perspective of the structure and purpose of the industrial guidance fund, it can be divided into:
1, parent fund+child fund mode. At the parent fund level, many local governments guide funds to prohibit financial funds from being inferior, so they adopt a parallel investment structure to attract large financial institutions to participate and amplify leverage advantages.
2. Special fund model.
In this model, financial funds are jointly established with industry leaders, financial institutions or other social capital, with a single-layer fund structure, focusing on supporting specific industries or specific types of enterprises. This single-layer limited partnership model is more common.
3. State-owned enterprises take the lead.
The most common thing is to set the priority over the inferior structural design, and the leverage ratio ranges from 2: 1 to 4: 1, or even higher. Financial institutions subscribe for priority, and state-owned enterprises or designated entities subscribe for inferior levels, providing a part of safety mat for priority funds. There are few parallel investment funds.