The primary market is abuzz with the trend of accomplished entrepreneurs pivoting to become investors. Recently, Maxion Digital, a fully-owned subsidiary of GPU giant Maxion Technologies, injected RMB 36 million into the establishment of the Huai'an Muteng Chenxi Venture Capital Fund, which boasts a total committed capital of RMB 200 million. Shanghai Wan'ang Investment Management Co., Ltd. has been appointed as the general partner for this fund. Since the dawn of this year, a slew of renowned tech enterprises, including Changxin Technology, GigaDevice, and JCET, have embarked on primary market investments, assuming the mantle of new limited partners. Not long ago, these very companies were the darlings of venture capital firms, relying on external funding to fuel technological advancements and scale their operations. Now, having matured and fortified their positions, they are paying it forward by reinvesting in the primary market. The ascent of this fresh cohort of industrial limited partners subtly heralds the dawn of an entirely novel capital cycle.