Taking the Initiative Amid Change | Vital Monthly

Vital Monthly is Oasis Capital's monthly update column.

It tracks the progress of Oasis and its portfolio companies, revealing the rhythm, structure, and trends behind the headlines.

Enjoy.

Oasis Ecosystem | Infinigence AI and MiniMax Named to MIT Technology Review's "50 Smartest Companies," Showcasing China's AI Innovation At the recent EmTech China Global Emerging Technology Summit, Oasis portfolio companies Infinigence AI and MiniMax were both named to MIT Technology Review's "50 Smartest Companies" list. The list, guided by the theme "Pushing Boundaries" and focused on "China's Future," selects 50 innovative forces "born in China, led by China, and serving China" based on multidimensional criteria including technological innovation, global capability, and commercialization. This recognition highlights both companies' technical strength in AI infrastructure and large model innovation, while demonstrating the forward-looking positioning of Oasis portfolio companies in advancing intelligent technology and industrial application.

Oasis Ecosystem | Polly Polymer and VAST at TCT Shenzhen At TCT Shenzhen held this September, Polly Polymer showcased its "AI + 3D Printed Footwear Solution," leading the new trend in personalized manufacturing — from materials R&D to flexible batch production, presenting the digital transformation of the footwear industry in full; VAST demonstrated its AI 3D large model Tripo 3.0 with real-time text-to-3D generation, reconstructing manufacturing workflows with second-level modeling that drew global industry attention. The joint appearance of both companies reflects the progress of Oasis portfolio companies at the intersection of intelligent manufacturing and AI technology, and signals that a new wave of creativity- and algorithm-driven manufacturing transformation is accelerating.

Spirit AI | Yang Gao Team Proposes State-free Policy, Enhancing Robot Spatial Generalization

New research from Spirit AI co-founder Professor Yang Gao's team proposes a State-free Policy: by completely removing state inputs and relying solely on visual observations, robots can achieve strong spatial generalization even with limited training data. Experiments show significant improvements in policy height and horizontal generalization across tasks including pen manipulation, folding clothes, and whole-body robot object retrieval, while also delivering higher data efficiency and faster cross-platform adaptation. The study further found that using only dual wide-angle wrist cameras and removing overhead cameras can boost performance even more, offering new directions for visuomotor policy and robot design.

LimX Dynamics | LimX DreamActor: A New Embodied Intelligence Paradigm Driven by Multi-Source Data

LimX Dynamics proposes the LimX DreamActor policy, which integrates real-world, simulation, and video data through "Real2Sim2Real + Real-World Reinforcement Learning" to achieve deep fusion of simulation and reality. This approach connects the full pipeline of "real-world data collection — simulation pre-training — real-world post-training," supporting rapid generation of high-fidelity 3D scenes on consumer-grade devices. By combining physical consistency with coordinate alignment, it improves training efficiency, spatial generalization, and deployment stability. The policy also significantly reduces real-world trial-and-error costs and enhances cross-platform transferability, providing a reliable path for AGI deployment in the physical world.

MiniMax | Music 1.5 Ushers in a New Era of AI Music

MiniMax has released its next-generation music generation model Music 1.5, officially launching the "One Person, One Band" era. The model supports high-completion compositions up to 4 minutes long and achieves four major breakthroughs: stronger control over musical style and emotion, more natural and full-bodied vocals, richer arrangement layers, and clearer song structure. Built on MiniMax's long-term accumulation in multimodal models, Music 1.5 significantly enhances text-to-music understanding and generation, enabling professional musicians, content creators, and everyday users alike to produce high-quality works from a single description.

VAST x NetEase | Partnering with Eggy Party to Co-Create a New World of AI 3D Playgrounds VAST has partnered with NetEase mobile game Eggy Party, reaching a strategic agreement in early September to formally integrate TripoAI's large model technology into the UGC creation system. Players can now generate cartoon-style 3D models from a single description or image, becoming true "instant dream makers." This collaboration propels Eggy Party's UGC ecosystem fully into the AI era, dramatically lowering the barrier to modeling while igniting young players' creative enthusiasm. Previously, VAST had helped Where Winds Meet develop its "Universal Tai Chi" gameplay feature; this new partnership further expands the application of AI 3D in mainstream gaming, marking a new starting point for AI co-created entertainment.

Founding Partner Jinjian Zhang Invited to Speak at SuperReturn Asia Forum Jinjian Zhang, Founding Partner of Oasis Capital, was recently invited to speak at the SuperReturn Asia Forum, delivering a keynote titled "Betting on the Inevitable: China's Role in the Global Innovation Cycle." Zhang examined China's strategic positioning within the global innovation landscape, explaining the global value and distinctive contributions of Chinese entrepreneurs amid the societal transformation brought by artificial intelligence, and sharing Oasis Capital's investment practice in frontier technologies including AI and embodied intelligence — offering attendees a unique perspective and forward-looking insights.

"Signal and Noise" | Episodes 4 and 5 with Zhiyong Peng and Wei Zhang Now Live For September's podcast episodes, we invited Zhiyong Peng of Yuanqi Breath and Wei Zhang, founder of portfolio company LimX Dynamics, to join us.

Mr. Peng was among China's first generation of physics undergraduates. After resigning from his teaching post, he spent three decades traveling the world with Zhuangzi as his companion, cultivating his original mind through meditation. He is not in a hurry to teach others; rather, he advocates remaining empty to receive things, staying curious, and letting go of discriminating thought.

From his studies at USTC to graduate work at top American universities, then to professorship at Ohio State University, and ultimately returning to China to start a business pushing embodied intelligence forward — Wei Zhang's life trajectory demonstrates a commitment to core truth-seeking, finding self-sufficiency in stability, and continuously iterating through identity transformation.

Oasis Honors | Named "Asia Tech Fund Manager of the Year" (PitchBook & SuperReturn), 36Kr "China's Top 10 Future Industry Investment Firms," and More

In the 2024–2025 annual awards jointly presented by PitchBook and SuperReturn across seven categories, Oasis Capital was named "Best Asia Tech Fund Manager of the Year" — the sole winner among all nominees for this award.

Recently, 36Kr released its 2025 China "Top 10 Future Industries" and "Most Influential" industry investment firm rankings, with Oasis Capital receiving multiple honors including "China's Top Embodied Intelligence Investment Firm" and "China's Top AI Investor."

Based on its data foundation and research analysis, the China FOF Research Center officially released the 2025 Yangtze River Delta Best Investment Firms list at the "2025 China FOF Conference — New Cycle, New Strategy, New Opportunities" held in Wujiang, Suzhou. Oasis Capital was named to the "2025 Yangtze River Delta Best Early-Stage Fund TOP 10." Cyzone's "2025 Most Admired Venture Capital Firms" list was also released. Oasis Capital received honors including "2025 Most Admired Venture Capital Firm TOP 100" and "2025 Most Admired VC Firm — AI Sector TOP 50." The world changes endlessly, noise overloads. Oasis Capital will continue to adhere to its "top-down" research methodology, combining ecosystem entrepreneur experience to consistently deliver signal to companies over the long term. We focus on social transformation driven by artificial intelligence and frontier technology, in areas including robotics, artificial intelligence, and technology services, making long-term investments in the most vital entrepreneurs.

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