Recently, Lix Capital successfully wrapped up the fundraising for a new fund, amassing a substantial $289 million and surpassing its initial fundraising goal of $265 million. The majority of the funds stem from global sovereign wealth funds and industrial capital sources. This newly raised fund is dedicated to investing in Chinese artificial intelligence (AI) startups. A significant 80% of the capital is allocated specifically for AI companies at the Series A round and in earlier investment stages. The investment will span across three key sectors: foundational AI models, industry-specific applications, and computing infrastructure.

Notably, Lix Capital stands out as one of the select few institutions that have managed to attract U.S. dollar-denominated capital this year. The fund is expertly managed by Cao Xi, a former partner at Sequoia Capital China, and Tim Wang, a former partner at Boyu Capital.