Looking back on the past year, despite the challenges in the macro environment, Lenovo Ventures has bucked the trend with clear strategic determination. In 2025, we will have more than 40 new investment companies throughout the year, and nearly a hundred invested companies will receive a new round of financing. The total number of investments will reach more than 60, 80% of which will be invested in fields closely related to the "silicon-based ecology", and we will continue to consolidate the system layout in core tracks such as AI computing power, large models, and embodied intelligence. The total number of our invested companies has exceeded 300, of which 25 have been successfully listed. We have earlier targeted three leading companies, CATL, Cambrian, and Haiguang Information, with a market value of over 500 billion yuan. At the same time, we insist on investing in new productivity driven by technology and have cultivated more than 60 national-level specialized “little giants”.
Currently, the industry is facing a "gap" between technological ideals and business reality. Especially in fields such as embodied intelligence, achieving scalable business closed loops is a key challenge. We believe that high-quality vertical data will become the core barrier of industrial AI, and China's complete industrial chain and rich scenarios are unique advantages for incubating breakthrough technologies.
Looking forward to 2026, investment will become more rational, and "silicon-based intelligence" will remain the long-term main line. We will focus on three major directions for in-depth layout: first, the evolution of AI to "system intelligence", focusing on investment in agents and AI-native hardware capable of closed-loop vertical industry tasks; second, the commercial integration of machine intelligence, seizing the spillover dividends of autonomous driving technology, and promoting the large-scale implementation of embodied intelligence in B-side scenarios such as industry and logistics; third, forward-looking layout of disruptive computing architectures, such as storage and computing integration, RISC-V, etc., to reserve core capabilities for the next round of paradigm revolution.
Source: Venture Capital Exchange
