Lix Capital, a key investor in Moonshot AI, has successfully raised around $289 million in funding. This capital injection is earmarked for further investments in Chinese artificial intelligence (AI) startups. The fund has not only met but exceeded its initial fundraising goal of $265 million. The raised capital will be channeled into bolstering technology startups within the sector.

Helmed by Cao Xi, a former partner at Sequoia Capital China, and Tim Wang, previously a partner at Boyu Capital, Lix Capital stands out as one of the select institutions to have successfully lured dollar capital this year. On November 11, Lix Capital proudly announced the final closure of its second US dollar venture capital (VC) fund and its inaugural RMB VC fund, bringing the total raised to a staggering $488 million.

Both funds—the second US dollar VC fund and the first RMB VC fund—garnered subscription intentions amounting to roughly 160% of their targets. However, in a strategic move, the firm opted to proactively scale down the fund sizes. Lix Capital's investment portfolio already boasts stellar AI companies, including Moonshot AI. Additionally, its invested firm, MetaX Technologies, has successfully cleared its IPO review.