STOCKS | Zhihu-W To Invest RMB 150 Million In AI Fund

Zhihu-W (02390) said it has signed a subscription agreement with the general partner and fund manager to invest RMB 150 million for a limited partnership interest in a fund, subject to shareholder approval. The company said the capital will come from internal funds. The general partner expects to raise money from about 20 to 30 institutional and/or industry investors, and Zhihu-W expects its interest in the fund to be no more than 30% after completion, according to ETNet. The fund manager is a RMB private equity and venture capital platform under Lisi Capital Investment Management Group. Zhihu-W said the fund will make equity investments mainly in early- and mid-stage unlisted AI-related companies established or operating in mainland China, or with other significant mainland ties. The fund has a four-year investment period and a seven-year term, extendable twice for up to two additional periods.