MONOLITH Turns Four: Dual-Currency Fund Oversubscribed, Continued Focus on Early-Stage Startups

Recently, MONOLITH held the final close on its second USD VC fund and first RMB VC fund. The two new funds total $488 million, with both the USD and RMB funds receiving subscription interest of roughly 160% of their initial targets (approximately $630 million combined). Despite significant oversubscription, MONOLITH chose to actively reduce its fundraising target to maintain its disciplined, restrained approach to investing.

Earlier this year, MONOLITH's hedge fund also completed a new fundraising round and has continued to scale. The team adheres to its Good Businesses in Change at Reasonable Valuation philosophy, identifying structural opportunities through deep research and thematic frameworks, and capturing long-term growth amid transformational shifts. Fund performance has been steadily improving, with sustained profitability across varying market conditions.

Over the past two years, MONOLITH has remained focused on AI as its core investment theme, building systematic positions across AI models, AI applications, embodied intelligence, and intelligent hardware. Portfolio companies including Moonshot AI, Yuaiweiwu, Starry Innovation, and Lxson have all achieved rapid post-investment growth and subsequent funding rounds; RMB fund portfolio company MetaX Technology has successfully passed its IPO review. The overall portfolio covers critical nodes of the AI value chain, demonstrating solid growth resilience and clear long-term value.

Today marks MONOLITH's fourth anniversary. In recent years, we have deliberately controlled the pace of fundraising and team expansion, spending more time researching companies and supporting founders. The firm's total AUM has now exceeded 10 billion RMB. We aim to continue backing the next generation of important companies with deep research and ample capital. Going forward, the two new funds will continue to focus on early-stage AI-related projects, covering AI applications, model infrastructure, and hardware and embodied intelligence.

MONOLITH's VC team comprises investment professionals from AI, hardware engineering, and consumer product backgrounds — fluent in both technical principles and commercial execution, a group of young, thoughtful, energetic, and genuinely interesting investors. We aim to maintain an extremely agile, flat, and efficient organizational structure, identifying and supporting at the earliest stages those founders bold enough to rewrite the rules and define their era.