Recently, there is a financing news, “Intelligent chassis system solution business Lee Krypton Technology announced the completion of round C financing, the current round of financing scale of more than 1 billion yuan.
” However, among the investors in this financing, it is worth noting that the Ruicheng Fund of the Chery Group (hereinafter referred to as the “Ruicheng Fund”) participated.
This is in addition to Hangzhou Fuchunwan Metro Development Fund, Saize Capital, Hefei Construction Investment Fund, Hefei Baohe pilot Fund, Baohe Kechuang Fund, Guohai Innovation Capital, Huaying Investment, solid Investment and Sheng Rui Duxing joint investment.
Chery took a glimpse of the investment field.
What is the origin of the Ruicheng Foundation? While the author is curious, there is a lot of article behind it.
With a remarkable history, Ruicheng Fund, whose full name is “Hefei Ruicheng Private Equity Fund Management Co., Ltd.”, which belongs to Qirui, was established in January 2022 and officially opened in April of the same year.
Among them, Wuhu Chery Capital Management Co., Ltd. accounts for 80% of the shares, a proper major shareholder.
Wu Xiaodong, chairman of Ruicheng Fund, was the deputy general manager of Chery Holdings Group.
According to the industry, Ruicheng Fund has played an important role in many fields and projects, especially in the investment of new energy vehicles and intelligent network connection automobile industry.
Why? Let’s take a look at a piece of news.
In September 2022, Ruicheng Fund passed the selection examination and became the management organization of Anhui New Energy vehicle parent Fund.
The Anhui New Energy vehicle parent Fund is the parent fund set up and landed in Anhui Province, which adopts the parent-child fund structure model, with 4 billion yuan as the parent fund, mainly in the form of equity participation to support cities, counties and market entities to set up relevant territorial sub-funds.
the total size of the mother-child fund is not less than 18 billion yuan, focusing on the industrial cultivation and “double introduction” in the field of new energy vehicles and intelligent network vehicles.
With regard to the investment direction, Wu Xiaodong once said that through the mother and child fund to focus on breaking through the key topics such as “core car linkage” and high value-added parts, and actively participate in the planning and construction of the province’s charging infrastructure, pay close attention to the incubation of early scientific and technological innovation projects in universities and R & D institutions, and promote the agglomeration and ecological development of new energy vehicles and intelligent network-connected vehicles in Anhui Province.
In April last year, Ruicheng Fund announced the first batch of 10 sub-fund management institutions selected.
They are CICC Private Placement, Fosun Wealth creation, Guoyuan Equity, Shanshan Chuanghui, Xuan Yi Private Placement, founder Hesheng, Tuojin Private Placement, Nuotie assets, National Science Xineng, and BoCom Capital.
Of the five sub-funds that can be publicly inquired, four have registered capital of about 1 billion yuan.
In fact this is also a microcosm of the auto giants breaking into the VC circle collectively.
In addition to the Ruicheng Fund, there are also Porsche CICC Fund, GAC Capital, Guangzhou Industrial Investment Fund and the Bank of China to set up a 10 billion-scale industrial investment fund.
BAIC Industry Investment Co., Ltd. has set up an energy production investment fund with a total planned size of 3 billion yuan, such as Beijing State Capital Co., Ltd. This is also learned from the new forces of car building.
For example, the dual-currency fund Lurai Capital, established as early as 2016, has invested in nearly 70 projects around the upstream and downstream industrial chain of new energy vehicles, including Ningde era, Momenta, Tudatong, Black Sesame, Pony Horse Zhixing, and so on.
As well as he Xiaopeng of Xiaopeng Motor, he Xiaopeng contributed funds such as GGV Capital, Wuyuan Capital and Kunzhong Capital in the capacity of LP, and set up a VC fund, Star Capital, to take part in industrial chain projects such as Tongzhong Automobile and Zhanxin Electronics.
There is also Li Xiang, who was the first LP of the Source Fund, established Chongqing Automobile Yuan Venture Capital Co., Ltd., and also jointly invested in Xin Wanda car batteries.
The most typical is Xiaomi Lei Jun who almost invested in the new energy vehicle industry chain before building the car.
Now, when it comes to building a car, it is naturally easy to start and quickly put in place.
The fundamental reason is that through the layout of the upstream and downstream industrial chain of new energy vehicles, we can more directly participate in the related new technologies, enhance the coordination of the industrial chain and broaden the moat.
At the same time, look for opportunities for industrial transformation and the second growth curve.
Unsurprisingly, Ruicheng Fund has participated in a number of important fund establishment and investment activities.
In other words, it is also luxuriant.
For example, the partnership (limited partnership) of Ruicheng New Energy Automobile Service Industry Fund in Anhui Province, established on December 13, 2023.
There is also the Anhui Ruicheng core car Zhaopin industrial fund partnership (limited partnership), which was established in February 2024.
The Ruicheng Fund also plays a role in a number of cross-cutting funds.
For example, in April 2024, companies such as Zhaoyi Innovation and Ruicheng Fund jointly established a partnership (limited partnership) of Zhaoyi Venture Capital Fund in Shixi, Hefei, mainly engaged in venture capital.
It can be seen that the amount of investment in the establishment of these fund enterprises is 1 billion yuan.
There are also Wuhu City Ruicheng War New Industry No.
1 Fund Partnership (limited partnership) and Wuhu City Ruicheng Zhan New Industry No.
2 Fund Partnership (limited partnership).
The contribution amount of Ruicheng Fund is 2 billion yuan.
There are more than 30 companies in Ruicheng that participate in shares or participate in investment.
So, from this point, you can also see how ambitious Chery’s layout is.
In terms of investment field, Ruicheng Fund has layout and investment in many fields, such as new energy vehicles, intelligent Networked vehicles and venture capital, showing its diversified development strategy in the field of private equity fund management.
In terms of investment projects, what can be found at present is that in addition to the aforementioned round C financing of Krypton Technology, Ruicheng Fund has participated in the B1 round financing of Ruisi Technology, which specializes in VCSEL chips and optical solutions.
In addition, the Ruicheng Fund and the pilot Industry Investment Fund have jointly made a strategic investment in Fushi Technology.
For example, Fushi Technology Co., Ltd., whose full name is Shenzhen Fushi Technology Co., Ltd., specializes in the research and development of vehicle-grade lidar receiver chips.
prior to this, the company has received investment from industrial investors such as BAIC, Huiyou Capital and Shenzhen heavy Investment.
At that time, the project manager of Ruicheng Foundation said that the SPAD lidar chip of Fushi Technology could greatly reduce the production cost and difficulty of lidar, and in the future, with the continuous improvement of the maturity of the company’s products, it is expected to bring subversive changes to the lidar industry and even the self-driving industry.
What Ruicheng Fund values is that its products have covered most of the head lidar manufacturers.
In addition, in June last year, Ruicheng Fund invested more than 3 billion yuan in D-round financing from Beijing Yiswei Computing Technology Co., Ltd. (referred to as “Yi Siwei Computing”).
This project is the Financial Street Capital Leader, Guoxin Venture Capital Co., Ltd. a number of institutions follow.
The person in charge of Yi Si Wei Computing isWang Dongsheng, known as the “father of China’s semiconductor display industry”, takes the RISC-V computing independent architecture as the core of development.
RISC-V is an instruction set architecture based on the reduced instruction set architecture.
The key is that it can bypass the existing architecture.
In the context of cloud computing and AI explosion, it is also regarded by domestic manufacturers as a domestic chip overtaking opportunity in corners.
, Therefore, we can also get a glimpse of these projects.
Chery Group is no longer a simple car company.
It is already developing towards the ecological chain and technology-based enterprise that the industry mentioned a few years ago.
As a dark line for Chery’s development, Ruicheng Fund, in fact, its layout and expansion may greatly drive Chery’s future direction, which is worth noting.
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