SMIC Capital

Headlines · 3

1. Oct 13
   Chinese medical firms queue up to invest in AI and semiconductor funds

   A report by VCBeat (carried by 36Kr and TMTPost) says that after Andon Health's "medical main business plus tech investment" model gained traction, a group of listed Chinese medical companies — including Yuwell Medical, EasyDiagnosis, Intco Medical, Yifan Pharmaceutical and Amoytop Biotech — have recently subscribed to funds focused on AI and semiconductors, with names such as Gaorong Changying Fund and the new Monolith fund backed by medical firms. The report says Andon Health's portfolio includes Moonshot AI, MetaX, StepFun and Zhengxing Innovation, and that its net profit rose 233.66% year on year in the first half of 2026. Specific moves include Yuwell Hong Kong putting HK$94.9 million into CFTC fund shares and a plan to commit up to 500 million yuan to a fund managed by SMIC Capital, while Intco, Amoytop and Yifan invested as limited partners. The report also cites an industry figure warning that AI and semiconductor asset valuations are already high and that increasing tech exposure now may not be the best window.

   36氪 人工智能 · 🔥 0
2. Oct 11
   DeepSeek round reportedly doubles to ¥100B at ~¥500B pre-money valuation

   Multiple Chinese outlets, citing unnamed people involved in the deal, report that DeepSeek's second funding round has grown from a planned ¥50 billion to about ¥100 billion, split roughly evenly between new and existing shareholders, with the pre-money valuation unchanged at around ¥500 billion. The reported new investors are mostly industrial players — Stone Capital, SMIC Capital, CPE, Legend Capital and Geely — while first-round backers CATL, Tencent, IDG Capital and others are said to be participating again, with CATL adding about ¥10 billion. CNBC's sources put the possible size as high as $15 billion, and reports also say DeepSeek has hired CITIC Securities to prepare a STAR Market listing, potentially filing as early as late 2026.

   Recode China AI · 🔥 0
3. Oct 11
   Baize Tongjing releases abductive world model AWM and edge engine BAIZ-RUN

   Baize Tongjing, a Hefei-based company founded less than six months ago by a team from USTC, has published a paper titled "Abductive World Modeling via Causal Representation Learning" and open-sourced its code, saying its AWM model not only predicts future states but also asks what caused them, decomposing a scene into entities, dynamics and relations. The company says AWM reached a 75% success rate on the Push-T robotic manipulation task with only 2,000 training trajectories, versus 14,728 for the comparison method Causal-JEPA, and about 92% when given the same 14,728 trajectories. Its companion edge inference engine BAIZ-RUN quantizes weights to 2 bit and activations to 4 bit; the team reports a 2.56x reduction in memory use, a 94.6% increase in inference frequency and under 1% accuracy loss on an AMD Radeon edge integrated GPU with the SSV2 dataset. The company also says it has signed and validated three industrial scenarios — loading/unloading, quality inspection and plant patrol — and closed a first funding round of tens of millions of RMB within three months of founding, with backers including SMIC Capital and a market-oriented fund whose LP is Ke Da Silicon Valley.

   机器之心 · 🔥 0

Experience and discussion from the community

Share my SMIC Capital experienceAsk about SMIC Capital