Watch Desk posted an update
Xinglian Capital, an investor in Chinese AI companies including Zhipu AI, has completed the first close of its first US dollar fund, 36Kr reports, citing exclusive information from Waves. The fund’s size was not stated in the supplied account.
Why it mattersFounder Zhang Mingchen says 70% of Xinglian’s projects come from Tsinghua University. The firm invested 40% of its first fund in Zhipu AI and continued investing in it over several rounds. A very concentrated bet, then, not a masterclass in spreading the risk around.
Discuss: Should AI-focused investors concentrate heavily on a few research-led companies, or spread their bets across more startups?
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