"Blue Book on China's AI Industry Investment in 2024" Released: Investment Scale in 2024 Nearly Reached 85 Billion Yuan, with Series A and Earlier Rounds Accounting for 70%
It is reported that on July 31, the "Blue Book on China's AI Industry Investment in 2024" (hereinafter referred to as the "AI Blue Book") was released at the 3rd Hangzhou Industrial Investment and Financing Ecosystem Conference.
The AI Blue Book was released by Zero2IPO Group. From the perspectives of AI industry development and application, market investment and financing, hot sub - sectors, and the development of Hangzhou's AI industry, it put forward several major trends in the development of China's AI industry. These include the intensive establishment of AI industry funds and the increased investment in the field of artificial intelligence; AI moving towards the era of general intelligence, with cost - reduction and open - source of large models emerging; at the AI inflection point, the rapid growth of AI computing power scale promotes the closed - loop ecosystem of "domestic computing power + large models"; the rise of multi - modal large models helps improve the capabilities of AI Agents and innovate scenarios; and the transformation of AI content generation, where the importance of ethical governance and privacy protection becomes more prominent.
The AI Blue Book shows that according to the data statistics of Zero2IPO's Private Equity Database, there were 1,156 investment cases in China's AI industry in 2024, with the disclosed total investment amount approaching 85 billion yuan. Among them, 84.3% of the investment cases were concentrated in Beijing, Shanghai, Shenzhen, Jiangsu, and Zhejiang, and the total investment amount accounted for as high as 87.8%.
In terms of investment rounds, the investment rounds in the AI field in 2024 were mostly in the early stage and the investment amounts were relatively large. Nearly 70% of the investment cases were in or before the Series A round. The average investment amount in both Series A and Series B rounds exceeded 100 million yuan.
In terms of the number of investment cases, sub - sectors such as AI + healthcare, intelligent driving, AI infrastructure, humanoid robots, large AI models, AI chips, and AI + industry were relatively active in investment, with the total number of cases accounting for nearly 80%. Large - scale investment events were mainly concentrated in fields such as large AI models, AI chips, and intelligent driving.
It is worth mentioning that since DeepSeek was released at the beginning of the year and the "Six Rising Stars in Hangzhou" became well - known, the development of Hangzhou's AI industry has attracted much attention. According to the data in the AI Blue Book, there were 82 investment cases in Hangzhou's AI industry in 2024, with an investment amount of 6.52 billion yuan. 54 enterprises received investment, among which 14 disclosed an investment scale of over 100 million yuan, mainly concentrated in fields such as AI + healthcare, AI + business, AI infrastructure, and humanoid robots.
It is reported that Hangzhou is making every effort to build a globally influential financial powerhouse, accelerating the construction of the Qiantang River Financial Harbor, and actively undertaking the major national strategic layout of artificial intelligence. In June 2025, Hangzhou proposed to guide the "3 + N" Hangzhou industrial fund group to leverage social capital and financial capital, and the scale of industrial funds invested in artificial - intelligence - related directions exceeded 100 billion yuan.
The 3rd Hangzhou Industrial Investment and Financing Ecosystem Conference was hosted by Hangzhou Financial Investment Group, Hangzhou Capital, and Bank of Hangzhou, supported by the Financial Affairs Office of the Hangzhou Municipal Party Committee, the Hangzhou Development and Reform Commission, the Hangzhou Finance Bureau, the Hangzhou Economic and Information Technology Bureau, the Hangzhou Science and Technology Bureau, the Hangzhou State - owned Assets Supervision and Administration Commission, the Hangzhou Data Resources Bureau, and the Hangzhou Investment Promotion Bureau, and co - organized by Zero2IPO. Relevant leaders of the Hangzhou Municipal Government and representatives of relevant municipal departments were present to support the event. Chen Jin, a member of the Standing Committee of the Hangzhou Municipal Party Committee and the Executive Deputy Mayor, attended and delivered a speech.
During the conference, the "AI Investment and Financing Brain" big - data platform and the Best Hangzhou Investment Partners in 2025 were also released, witnessing the coordinated development process of Hangzhou's equity investment and urban industries from multiple dimensions.
As a representative of investors deeply involved in AI industry investment, Zheng Weihe, the founding partner and chairman of Tongchuang Weiye, said in his speech at the conference, "At this stage, in artificial - intelligence investment, small investments can lead to large returns. In the future, there will definitely be projects with excess returns, and such excess returns will create many super winners. As a private equity fund, we particularly emphasize diversified investment, constructing anti - fragile investment portfolios, allowing failures, and encouraging successes. High fault tolerance and long - term orientation can bring better value enhancement to future investments."