Hunan launches 10-billion-yuan future industries fund, first 3 billion for AI and three other fields
A provincial fund has moved from plan to launch; watch how quickly the first tranche is actually deployed.
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The Hunan Jinfurong Dachen Future Industries Fund, with a total size of 10 billion yuan, has been formally launched and settled in Hunan's Xiangjiang New Area, with a first tranche of 3 billion yuan.
According to Zhidx's on-site report from the Yuelu Conference held September 23-24, the fund focuses on four directions: artificial intelligence, life engineering, quantum technology and advanced materials, combining government guidance capital with a market-based venture firm.
A separate Hunan AI sub-fund completed filing this September, with a target of 1 billion yuan and a first close of 700 million yuan. The deployment pace and project selection criteria of the new fund have not been disclosed.