Zhipu and partners launch RMB 1 billion Physical AI fund

Zhipu, Jiangmen Ventures, and QuantGroup have established a cognitive intelligence venture capital fund with a total subscribed capital of RMB 1 billion. The fund, officially named Zhejiang Zhipu Jiangmen Cognitive Intelligence Venture Capital Partnership (Limited Partnership), was incorporated in the Shangcheng District of Hangzhou.

The fund is dedicated to supporting the development of a Physical AI ecosystem through investments in unlisted companies. It features a partnership structure involving local state-owned capital and industrial investors. Hangzhou Shangcheng Linghang Venture Capital Co., Ltd. and Hangzhou Urban Investment Industry Development Investment Partnership (Limited Partnership), both backed by local government, hold a 60% interest in the fund.

Other participants include Zhejiang Zhipu Xinpian Technology Co., Ltd., Hainan QuantGroup Technology Co., Ltd., Hainan Hezun Investment Co., Ltd., and Hangzhou Jizhi Enterprise Management Consulting Co., Ltd. QuantGroup, a Hong Kong-listed company, is positioning itself as a provider of world foundation models for Physical AI, utilizing a strategy that combines AI-enabled e-commerce with embodied AI research.