Shandong Weifang has established a metaverse industry fund cluster with a total scale of no less than 10 billion yuan to support the development of the metaverse industry

ChainCatcher news, according to Jinshi reports, recently the Weifang Municipal Bureau of Industry and Information Technology issued "Several Policies for Accelerating the Development of the Metaverse Industry," proposing to establish a metaverse industry fund group with a total scale of no less than 10 billion yuan, focusing on the metaverse industry chain and targeting enterprises at different lifecycle stages, with the first phase scale no less than 2 billion yuan. The funds will be primarily used to invest in and attract "strong chain, supplementary chain, and extended chain" enterprises and projects.

State-owned enterprises are encouraged to jointly establish a special fund for the metaverse industry, exploring a direct investment model that combines "equity + debt." They can exit within 5 years at a rate not higher than the bank loan interest rate for the same period, and exit after 5 years in a market-oriented manner. The municipal guiding fund can transfer the value-added income to the contributing state-owned enterprises.