Beijing Information Industry Development Fund

The Beijing Information Industry Development Fund is one of Beijing's "eight industry guidance funds," a set of sector-specific state funds with a combined initial scale of 100 billion yuan, run under the Beijing municipal government investment guidance fund — with the information-industry vehicle specifically delegated to Legend Capital as manager, per 暗涌Waves . By end-2024, the eight funds together had passed investment decisions on 167 projects totaling roughly 17 billion yuan, with about 12.7 billion actually disbursed across 135 of them . Within that system, this fund has shown up mainly as a co-investor alongside marquee market GPs: in July 2025 it co-led trapped-ion quantum computing company HYQubit's Series A alongside the社保中关村fund and Legend Capital , and in January 2026 it joined ByteDance, Sequoia China and Shenzhen Capital in Independent Variable Robotics' 1-billion-yuan A++ round , continuing to add to both positions in follow-on financings into mid-2026 . The pattern is consistent with how 暗涌 framed Beijing's state-capital design — hard sector boundaries, market-oriented GPs chosen per vertical, and the fund riding along in frontier-tech deals rather than leading alone.