China Launches Venture Capital Funds to Invest in ‘Hard Technology,’ State Media Report

China has launched three large venture capital funds to support “hard technology” startups, each with more than 50 billion yuan in capital. The funds will mainly invest in early stage companies valued under 500 million yuan, with each investment capped at 50 million yuan. They will focus on areas such as chips, quantum technology, biomedicine, brain computer interfaces, aerospace, and other advanced technologies, rather than internet based “soft” tech.