Shanghai AI Industry Investment Fund

The Shanghai AI Industry Investment Fund is a government-backed fund that invests in artificial intelligence startups, typically as a co-investor or lead investor in growth-stage rounds. In August 2021 it led a strategic funding round for Galixir (星药科技), an AI drug discovery company, with participation from Gaorong Capital, Source Code Capital, Redpoint China, DCM, 5Y Capital and BAI Capital . It also followed on in Deepexi's $40 million Series A4 round in late 2020, alongside Hillhouse Capital, IDG Capital and 5Y Capital . The fund operates within Shanghai's broader state-led investment ecosystem, which includes the Shanghai Science and Technology Innovation Fund and the Shanghai Angel Investment Guidance Fund founded in 2014 . elsewhere's corpus does not contain more recent activity from the fund; the above is based on 2020–2021 reporting.