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iFLYTEK Plans to Invest 58 million Yuan to Set Up an Investment Fund for Artificial Intelligence, Cloud computing and Other fields

iFLYTEK announced on the evening of June 20 that it plans to invest 58 million yuan with its own funds to participate in the establishment of Suzhou Kexunyuan Feng Angel Venture Capital Fund Partnership (Limited Partnership)。 The contribution amount accounts for 29% of the total subscribed contribution of the fund


According to the announcement, the fund was jointly founded by iFLYTEK and general partner Suzhou Kexun Venture Capital Management Partnership (Limited Partnership) (referred to as "Suzhou Kexun"), and limited partners Suzhou Angel Investment Guidance Fund (Limited Partnership) and Suzhou Heng Tai Holding Group Co., Ltd. The fund manager is Hefei Kexun Venture Capital Management Partnership (Limited Partnership) (referred to as "Hefei Kexun"). Hefei Kexun is also the general partner of the fund.


The announcement also disclosed that the fund’s investment direction is core technologies and products in IT-related fields such as artificial intelligence, cloud computing, big data, VR, and 5G, and their applications in vertical fields such as education, medical care, automotive, enterprise services, and consumption upgrades.


iFLYTEK said that the company's participation in the angel investment fund this time will enhance the company's investment layout and continuous tracking capabilities for early-stage high-quality technological innovation projects through in-depth cooperation with professional institutions and industrial investment partners. It also help increase its foresight capability in the artificial intelligence industry direction and investment layout in new technology fields; and by forming complementary advantages with the company's core technology and main track, it could promote the technology and business cooperation with investee companies, build a mutually beneficial and win-win industrial ecology, and lead AI technology innovation and future potential industry development. At the same time, it also diversifies and reduces the risk of investing in new areas.



The company also reminded that equity investment funds have the characteristics of long investment cycle and low liquidity, and related investments will face a long payback period. The proposed investment direction and stage of the fund are relatively early, the project scale is small, and the anti-risk ability is weak. It is relatively greatly affected by the macro economy, industry cycle, and the company's operation and management capabilities, and may face the risk of investment returns not meeting expectations or fund losses. There may also be certain uncertainties in the process of finding candidate investment targets for equity investment funds, which may lead to certain potential risks of extending the investment period of the fund.



According to iFLYTEK, the investment is in line with the company's strategy, which is conducive to the company's strengthening of exchanges with domestic and foreign cutting-edge technology development and industrial applications. It will help to make full use of the company's technology and industrial resources to explore and develop early high-quality projects as well as cultivating and building a rich artificial intelligence industry ecology.


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