In 2023, Shandong's Fund for the Replacement of Old Growth Drivers with New Ones newly invested in 290 projects throughout the year, with a total investment of 25.9 billion yuan. By the end of 2023, it had cumulatively invested in 1,527 projects, with an investment amount of 195.5 billion yuan.

It is reported that focusing on continuously stepping up the investment in 11 landmark industrial chains, Shandong's Fund for the Replacement of Old Growth Drivers with New Ones has cumulatively invested in over 1,200 projects in the top ten industries, with an investment amount of over 110 billion yuan. It has driven social capital investment and financing of over 480 billion yuan.

Focusing on the cultivation of new growth drivers, Shandong New Growth Drivers Fund Management Co., Ltd. strives to provide "strategic support" for entrepreneurial projects with high technology and original innovation capability. By cooperating with top-notch venture capital institutions in China, it has initiated the establishment of 48 angel funds for venture capital with a total amount of 46.4 billion yuan to facilitate the development of a modern industrial system with innovation as the core. Up to now, 14 Shandong enterprises invested by the Fund have grown into unicorn enterprises. In addition, there are 182 gazelle enterprises and 247 specialized, fined, peculiar, and new enterprises. More than 300 enterprises have successfully been identified as high-tech enterprises.