Local firms back RMB10 billion AI and robotics fund

The Guangdong Artificial Intelligence and Robotics Industry Alliance will officially launch today in Guangzhou, accompanied by the signing of the Guangdong Intelligent Industry Fund, which targets a scale of RMB10 billion and an initial capital raising of RMB2 billion.

The RMB10 billion intelligent industry fund aims to accelerate artificial intelligence (AI), robotics, and semiconductor technology innovation. Meanwhile, the alliance was created in to consolidate industrial resources and has identified over 150 potential projects, according to mainland reports.

Backing for the fund has come from both state-guided and private investors, including Gortune Investment, SenseTime, CAS Capital, and PCITECH. Notably, firms from Hong Kong and Macau are also involved, such as Macau-based Leader Holding Company Ltd and San Fong Seng Group.

The fund’s investment strategy prioritizes fundamental research and the rapid deployment of technologies, focusing on AI large models, intelligent robotics, and semiconductor development – with applications in smart manufacturing and urban systems.

The fund’s goal is to provide capital and strategic resources to Guangdong enterprises pursuing technological innovation and industrial upgrading, as cited in reports. As well as providing support to high-quality development in Guangdong and the wider Greater Bay Area (GBA).

Macau participation in the fund is represented by Leader Holding, led by João Ma—a member of the Guangdong Provincial Committee of the Chinese People’s Political Consultative Conference and grandson of Ma Man Kei. Another Macau participant is San Fong Seng Group. Chaired by Lao Chio Seng, San Fong Seng Group has diverse business interests across real estate, technology, insurance, and pharmaceuticals in both Macau and mainland China. 

Earlier in the year, on April 1, Guangdong province announced 12 measures to accelerate AI and robotics innovation, including financial support up to RMB50 million for national-level AI and robotics manufacturing innovation centers and up to RMB10 million for provincial-level centers.

According to the Department of Industry and Information Technology of Guangdong Province, the province’s core AI industry is expected to exceed RMB220 billion in 2024, boating over 1,500 core AI enterprises.