Guangzhou: Establishing an Artificial Intelligence Industry Investment Fund with a total scale of 20 billion yuan

Mars Finance reports that on April 14, the Guangzhou Municipal People’s Government Information Office held a special press conference on an artificial intelligence industry investment fund. At the meeting, it was officially announced that Guangzhou will establish an artificial intelligence industry investment fund with a total size of 200 billion yuan, using a “fund of funds + direct investment fund” structure, with plans to set up 3 direct investment funds in the first phase. The fund will operate through a “government guidance, market operation” model, and will use a “horse-racing” mechanism to ensure survival of the fittest and eliminate the less qualified, with the aim of precisely empowering key links in the artificial intelligence industry, and supporting “investing early, investing small, investing for the long term, and investing in hard technologies.”