CCTV Morning News: Patient Capital Activates New-Quality Productive Forces, BlueRun Ventures Helps Embodied Intelligence Become Reality

"Patient capital" refers to funding that does not prioritize short-term returns, instead focusing on long-term projects or investment activities with a high tolerance for risk. In other words, it champions a value-investment philosophy — committed, sustained capital deployment that values long-term payoff. Patient capital provides steady financial fuel for nurturing emerging industries and building future industries, serving as a critical catalyst for developing new quality productive forces.

Recently, Beijing Galaxy Universal Robot Co., Ltd. (Galbot) has gradually entered the public eye.

Just one year after its founding, it secured an angel round exceeding 700 million RMB, reaching a valuation in the billions of RMB.

What role does patient capital play in driving the commercialization of scientific research? The core technologies of embodied intelligence — this cutting-edge field — were once "trapped" in university laboratories. It was patient capital's sharp eye and decisive commitment that gave these technologies a path to market.

In this Beijing company's lab, a robot is following commands in real time: upon receiving instructions, it quickly locates a bottle of mineral water on a shelf and executes a precise grab — the entire sequence flowing smoothly. The person giving commands to the robot is the lead investor from the startup's first funding round, and what he cares about most is the project's latest progress.

Robot receives instructions from Jui Chan, Managing Partner of BlueRun Ventures

Embodied intelligence is a domain of AI development. Simply put, it involves robots of various forms acquiring information, understanding problems, and making decisions in real physical environments to execute diverse tasks.

Currently, the embodied robot developed by this company has achieved a success rate exceeding 95% for grasping objects of arbitrary materials. Yet before the company was founded last year, the core technology behind this project remained in a university laboratory.

Wang He, Director of the PKU–Galaxy Universal Joint Laboratory on Embodied Intelligence: Before this, our embodied intelligence technology lacked a productization outlet. Now, combined with Galaxy Universal's robots, our embodied intelligence technology empowers them — and through the integration of industry, academia, and research, it generates new quality productive forces.

The matchmakers who brought embodied intelligence technology together with robotics and helped research breakthroughs leave the lab were several venture capital funds focused on early-stage startups.

Jui Chan, Managing Partner of BlueRun Ventures: The two founders bring complementary experience — one in robotics hardware, the other in integrated algorithms. By mapping talent across leading global universities and research institutions, we discovered the Galaxy team.

Jui Chan in discussion with Galaxy Universal leadership

With the support of patient capital, Galaxy Universal was formally established last year. Though barely a year old, the company has already completed four funding rounds, raising over 700 million RMB. The startup is now methodically moving toward productization, with mass production expected by the year after next.

During this reporting period, we observed that the earlier the investment stage, the greater the risk — especially for hard-tech startups, which typically require high R&D investment and long payback periods. Investors therefore need not only the patience to accompany founders, but also discerning judgment and long-term vision. How to screen for high-potential quality projects among numerous companies has become a critical question in the investment field. One change that caught our attention during interviews was the evolving professional composition of investment teams.

Jui Chan introducing BlueRun's social innovation projects to CCTV reporters

Jui Chan, Managing Partner of BlueRun Ventures, told us that beyond providing capital, his team offers startups industry matchmaking, financing services, policy consulting, and talent acquisition support — growing alongside the companies.

Jui Chan, Managing Partner of BlueRun Ventures: Our team composition includes people with scientific or PhD backgrounds, as well as executives from industry. Including myself — before becoming a partner at BlueRun Ventures, I worked in industry, as a product manager and as an engineer.

Patient-capital investment teams composed primarily of scientists, engineers, and seasoned industry practitioners play a critical role in technical due diligence and validation. To date, the team has invested in over 200 companies, leading 80% of these deals in the first round — with many growing into category leaders in their respective segments.

As China's economy enters a stage of high-quality development, substantial capital is needed to nurture and develop new quality productive forces. "Actively developing venture capital and strengthening patient capital" represents a crucial move for the financial sector to orient itself toward the new. Wu Qing, Chairman of the China Securities Regulatory Commission, stated at the 2024 Lujiazui Forum that the CSRC will work with relevant parties to actively create conditions attracting more medium- and long-term capital into the market.

Technological innovation requires patience and resolve — it cannot be rushed. Strengthening patient capital will not happen overnight; it demands multi-pronged measures and concerted effort. The recent issuance of ultra-long special treasury bonds serves both as a means to expand patient capital and as an important investment channel for it. When patient capital extends patience to the market, the market gives confidence to technological innovation, and technological innovation in turn rewards the market — a virtuous cycle of "technology-industry-finance" takes shape. Patience is confidence measured in time; the fruit of time is patience's reward.

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