真格基金

ZhenFund angel project "Livinova" completes tens of millions of yuan in Pre-A funding; self-developed all-atom model Pallatom makes NVIDIA's recommended list

The new funding will accelerate iterative upgrades to Pallatom, its full-atom model protein design platform, expand its commercial pipeline, and support global talent recruitment.

Dancing with Love: Zhang Huaiting on Serial Entrepreneurship — Why Education Deserves Another AI Makeover | Tsinghua Campus Tour

At a technological inflection point, you have to throw yourself in to seize the era's opportunities.

Zhang Tao Responds to Controversy for the First Time: Why Manus Hasn't Been Replaced | Tsinghua University Campus Tour

The magic only happens when you give intelligence back to the model.

Moonshot AI's Yutong Zhang: The "1%" Exception Under the Capital-and-Compute Determinism | Tsinghua University Campus Talk

Seeking the optimal solution for converting energy into intelligence.

A Conversation with Pollo AI's Chenbiao Zhu: A "Grassroots" Founder Without Big Tech or Overseas Pedigree

"The game has entered the second half," said Abiao. He wants Pollo AI to become the CapCut of the AI era.

ZhenFund angel project "Pollo AI" announces $14 million seed round to continue building all-in-one AI video creation platform

The proceeds from this round will be used to accelerate the scaled rollout of its one-stop creation platform.

A Whole New World | Z News

We invite you to look back on the past month's "highlight reel" — a look at how our portfolio companies have grown and what's new at ZhenFund.

How a Gen Z College Student in Chengdu Sold 100,000 Copies of a ¥9 Solo Travel Guide

For a premium game to succeed, keeping costs under control is the single most important factor.

Tsinghua Ph.D. Crosses the Desert, Searching for Green Hydrogen's iPhone Moment

Over the next five years, powering the AI era with affordable hydrogen.

Looking at China's Three Competitive Advantages in Gaming Through *Genshin Impact*, *Black Myth: Wukong*, and *Archero*

Build a global company from Day 1.

A Three-Way Dialogue on AIGC Creativity, Product, and Investment: Will the Future Pixar Be Born Inside an AI Company?

CreativeFitting Founder Zhu Jiang: Building a Super Content Platform for the AI Era — Fundraising and Self-Sustaining Revenue Must Go Hand in Hand

A Conversation with Zhaogang Group's Wang Dong: One Team, One Email, Thirteen Years of Building Zhaogang --- When Wang Dong, founder of Zhaogang Group, sent that email thirteen years ago, he didn't know he was assembling what would become one of China's most resilient B2B platform teams. The email went out to a small group of former colleagues and industry contacts. The subject line was simple, almost too simple for what it would set in motion. They were going to digitize steel trading — an industry notorious for opacity, fragmentation, and old-school relationship-based dealmaking. "We were basically a group of people who understood steel but didn't understand the internet," Wang Dong recalls. "And somehow that turned out to be an advantage." The early years were brutal. Steel is a commodity business with thin margins and entrenched middlemen. The platform model required convincing buyers and sellers — many of whom had operated through personal networks for decades — to transact online. Trust had to be built transaction by transaction. What separated Zhaogang from the wave of B2B platforms that emerged in the mid-2010s was operational discipline. While competitors burned capital on rapid geographic expansion, Wang Dong's

A Long Conversation with Yusen Dai on Agents: Every Industry Will Face Its "Sedol Moment" — Is Attention Not All You Need?

A New Year Conversation with Koji: 2025 — The Critical Year for AI, the Dawn of the Agent Era

The Evolution of Coding Agents: In-Depth Conversations with Chinese and American Agent Founders, Alibaba Researchers, and Investors

A Conversation with Google DeepMind and LLM Researchers: Deconstructing OpenAI o1 and the LLM+RL New Paradigm

Acquired by a multinational after just five years in your first startup? Ren Dongni, founder of Fanqu, breaks down the game of entrepreneurship and exits --- When Ren Dongni co-founded Fanqu in 2016, the cross-border e-commerce space was already crowded with well-funded players. Five years later, the company had been acquired by a multinational corporation — a relatively swift exit by startup standards. In this conversation, Ren reflects on what it took to build and sell a company, the calculus behind taking strategic investment from a potential acquirer, and why he believes first-time founders often overcomplicate the "game" of entrepreneurship. **On the acquisition decision** "The offer came at a point where we saw the competitive landscape shifting dramatically. Cross-border e-commerce was consolidating, and the platforms with the deepest pockets were starting to squeeze out mid-tier players. We had built something valuable — a supply chain infrastructure and brand relationships that took years to cultivate — but scaling to the next level would have required capital and operational bandwidth we didn't have." The acquiring company, Ren explains, had been a strategic investor in Fanqu's Series B round. "That relationship gave them visibility into how we operated. When they approached us about a full acquisition, it wasn't

Talking AI Tech Applications, Founder Mindset, and the Scale of Entrepreneurship | A Conversation with Xiaoyu Wang of Castbox

A Chat with Xiaoyezi Founder Ye Bin: How to Learn an Instrument Painlessly? Try Going Smart!