
[London, November 21, 2024] – In the global field of technological innovation, deepening multinational collaboration has become a key driver of scientific progress and economic growth. On November 21, 2024, Fuel Ventures and Fuel Ventures Asia signed a Memorandum of Understanding (MOU) with the Shijingshan District Government Guidance Fund at the London Stock Exchange, formally establishing a partnership. Witnessed by the UK Department for Business and Trade, the British Chamber of Commerce, and the London Stock Exchange, this signing marked a significant step forward in technological innovation cooperation, aiming to foster technology development and inject fresh growth momentum into the innovation ecosystems and enterprises of both countries.

Mark Pearson, founder of Fuel Ventures, together with partner Jingjing Xu and other team representatives, met with the Shijingshan District government delegation in London to discuss future cooperation directions. Mark Pearson elaborated on Fuel Ventures' investment philosophy and ecosystem, commending the investment vision and professional capabilities of the Shijingshan Guidance Fund. Meanwhile, the Shijingshan District expressed recognition of the UK’s technology innovation market and appreciation for Fuel Ventures, laying a strong foundation for future collaboration.

During the meeting, the parties engaged in in-depth discussions on how to introduce UK innovative technology enterprises into the Chinese market, assist Chinese enterprises in global expansion, and promote collaboration in technology between Chinese and UK companies. Both sides agreed that resource sharing and complementary advantages could create more development opportunities for enterprises in both countries, driving innovation to lead industrial upgrades.
The Shijingshan delegation noted the district’s recent successes in urban renewal and industrial transformation, particularly in high-tech and advanced industries. They committed to fully supporting Fuel Ventures’ portfolio companies entering the Chinese market, leveraging technological empowerment and industrial upgrading to promote high-quality development in both China’s economy and Shijingshan District. Additionally, both sides agreed to assist Chinese enterprises in expanding their global presence and achieving international ambitions.

Mark Pearson, founder of Fuel Ventures, stated:“Our close cooperation with Chinese partners has been ongoing. Fuel Ventures specializes in investing in UK startups, particularly in fintech, artificial intelligence, and SaaS sectors. We are committed to creating opportunities by building a robust bridge that connects the tech ecosystems of the UK and China, enabling startups and entrepreneurs in both countries to thrive.”

Jingjing Xu, partner at Fuel Ventures and Executive Director of Fuel Ventures Asia, added:“The UK tech industry, renowned for its leading position in Europe and its ranking as the third-largest ecosystem globally, is highly attractive to Chinese investors. The UK's technology and innovation are globally recognized for their outstanding quality and significant growth potential. The collaboration with the Shijingshan Industrial Fund will create more opportunities for businesses in both countries.”
A representative of the Shijingshan Industrial Fund commented:“Fuel Ventures has demonstrated impressive expertise in early-stage technology investment, and we are highly optimistic about our future collaboration. Shijingshan and London have vast potential for cooperation in technology and innovation. We look forward to using this partnership to further enhance bilateral collaboration in the tech sector and expand opportunities in both markets.”

Looking ahead, the Shijingshan Industrial Fund, along with Fuel Ventures and Fuel Ventures Asia, will strengthen investment collaboration in technological innovation, industrial upgrading, and international market expansion. This partnership aims to achieve mutual benefits while contributing to global technological innovation and industrial development. This collaboration not only represents a significant milestone in China-UK technology innovation cooperation but also opens a new chapter for bilateral enterprise collaboration and growth in global markets.