Shanghai AI Industry Investment Fund

The Shanghai AI Industry Investment Fund (上海人工智能产业投资基金) is a state-backed industry investment fund focused on China's artificial intelligence sector. It has participated as an investor in several notable AI and hard-tech companies, including co-investing in Baichuan's Series A1 round alongside tech giants like Alibaba, Tencent, and Xiaomi, as well as major state funds such as the Beijing AI Industry Investment Fund and Shenzhen Capital Group . The fund also led a strategic financing round for Galixir (星药科技) in August 2021, with continued participation from existing shareholders including 5Y Capital, Source Code Capital, and DCM , and co-invested in Deepexi's $40 million Series A4 round in 2020 . More recently, it participated in Galaxy Universal's (银河通用) 500 million yuan strategic round in late 2024, alongside Beijing Robotics Industry Fund, Shenzhen Capital Group, and other state-backed vehicles . The fund operates as part of Shanghai's broader government-guided investment ecosystem, which also includes vehicles like the Shanghai Angel Investment Guidance Fund established in 2014 .