Beijing Artificial Intelligence Industry Investment Fund

Beijing Artificial Intelligence Industry Investment Fund is the AI vehicle among Beijing's "eight industry guidance funds" — a set of eight sector-specific funds with a combined initial scale of 100 billion RMB, run under Beijing State-owned Capital Operation and Management and, per 暗涌Waves, delegated to Qiming Venture Partners as the AI fund's manager . Its portfolio tracks the core of China's current AI wave: it holds stakes in Zhipu AI — adding another 200 million RMB in 2025, as 十字路口Crossing reported — and Baichuan , led VAST's 2025 round and doubled down in its $50 million Series A , added to Galaxy Universal's 500 million RMB strategic round , sits on Booster Robotics' cap table , and co-invested alongside Envision Group in Anyverse Dynamics . In short, it's one of the clearest examples of state capital acting as a repeat, follow-on backer across foundation models, 3D/world models, and embodied AI.