Shanghai artificial intelligence industry investment fund was officially established at the closing ceremony of the 2019 world artificial intelligence conference on the afternoon of August 31. The target size of the first phase is 10 billion yuan, and the fund group of 100 billion yuan will eventually be formed.

Shanghai artificial intelligence industry investment fund was jointly initiated and established by Shanghai guosheng group and lingang group as Shanghai state-owned assets operation platform company and development and construction unit of main bearing area of Shanghai science and innovation center. Shanghai venture capital guidance fund, Shanghai industrial transformation and upgrading investment fund, Shanghai free trade zone management committee representing the two levels of the city government to support; Shanghai electric, shenneng group, shanggang group and other state-owned industrial groups, Pacific insurance group, yunfeng fund and other financial investment institutions jointly participate. A number of leading AI enterprises, central enterprises and national industrial funds will be added in succession.

The fund is an important measure to implement the outcomes of the world conference on artificial intelligence and accelerate the overall strategy of Shanghai's high-quality development of artificial intelligence. According to the plan of "overall design and phased implementation", the fund has a target scale of 10 billion yuan in the first phase, adheres to the market-oriented, professional and international operation system, promotes the investment of social capital, and finally forms a fund group of 100 billion yuan.

The fund adopts the investment strategy of combining direct investment and allocation of sub-funds, and focuses on the core technologies and key applications of artificial intelligence by relying on the opportunities provided by the AI industry. Based in Shanghai and facing the world, Shanghai is committed to building a "one-stop" platform for connecting, connecting and integrating various elements in the development of artificial intelligence industry. To build an industrial chain and ecological circle closely integrated with international top technology and local extensive application; Focusing on innovation sources, application demonstration, system supply and talent gathering, we will accelerate the building of the "Shanghai plateau" for the development of artificial intelligence.

The closing ceremony also saw the signing ceremony of the first batch of projects of Shanghai artificial intelligence industry investment fund. Wu yuefeng capital, Shanghai electric c-pod, DMAI dark matter energy, Wave Computing, kun you optoelectronics, zhongke yungu, hua-yuan data, wheel technology and other outstanding AI projects participated in the project signing ceremony.

Shanghai guosheng (group) co., LTD., the main initiator of Shanghai artificial intelligence industry investment fund, is one of the two state-owned capital operation platforms approved by Shanghai municipal government, which is a large-scale wholly state-owned investment holding and capital operation company.

Since 2018, the group has set up the Shanghai state-owned enterprises reform and development of equity investment funds, the haitong equity funds (bail-out fund), Shanghai civil-military integration industry equity funds, relying on the Shanghai ShengShi capital form the Yangtze river delta (Shanghai) industrial innovation fund and fund of rural revitalization of Yangtze river delta and other large funds. Among them, the total scale of Shanghai state-owned enterprise reform and development equity investment fund is 50 billion yuan, which has invested in artificial intelligence projects, including cloud technology and pure technology.

Source: netease finance