Shanghai Sci-Tech Capital, Growth FOF under SIG Initiate Shanghai AI Investment Fund

2018-09-21 Clicks: Size: big medium small


The World Artificial Intelligence Conference 2018 (WAIC 2018) drawing worldwide attention was convened in Shanghai from September 17 to 19. At the investment & financing forum themed "Empower a New Era through AI Investment", Shanghai Sci-Tech Capital and Growth FOF under Shanghai International Group (SIG) entered into a strategic cooperation agreement with China Capital Investment Group (CCIG). Under the agreement, the two sides will jointly initiate the first AI investment fund in Shanghai, with a targeted scale of 10 billion yuan.

Initiating Shanghai AI Investment Fund is an important characteristic move of Shanghai Sci-Tech Capital and Growth FOF in the AI field. As cornerstone investors, they will focus on the "Thirteenth Five-Year" Plan, the New-generation AI Development Plan and the development layout of Shanghai's AI industry, give full play to the agglomeration and amplification effects of FOF funds, integrate industries with finance, channel more social capital and innovation elements into Shanghai, serve the prospective distribution and industrialization of Shanghai's AI industry, help enhance Shanghai's competitiveness and influence in the global AI industry chain and innovation chain, and make more contributions to speeding up the building of Shanghai into a "five center", an outstanding international city and a globally influential socialist modern metropolis.

WAIC is hosted by the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Cyberspace Administration of China, the Chinese Academy of Sciences, the Chinese Academy of Engineering and the Shanghai Municipal People's Government. With the theme "A New Era Empowered by Artificial Intelligence", WAIC 2018 featured "internationalization, high end, specialization, marketization", and brought together the most influential AI scientists and entrepreneurs, as well as government leaders to deliver speeches and attend high-level dialogues on advanced technologies, trends and hot issues in the AI field, thus building a world top AI cooperation and exchange platform.




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