首发｜Monolith第四年，曹曦又募了35亿

Core Insights - Monolith has successfully raised two new funds, totaling approximately $488 million (around 3.5 billion RMB), marking a significant achievement in fundraising within a challenging market environment [2][3][5] - The firm has surpassed 10 billion RMB in assets under management within four years, establishing itself as a leading player among emerging VC firms in China [3][4] - The new funds reflect a strategic focus on artificial intelligence and a market-oriented investment approach, with a notable emphasis on maintaining a high proportion of market-driven LPs [3][11][12] Fundraising Highlights - The new funds were raised quickly, with the dollar fund achieving its target in just one month, indicating strong demand from existing LPs [7][8] - Monolith's first dollar fund has performed well, contributing to the positive sentiment and renewed interest in Chinese tech assets among global investors [9][18] - The firm has chosen to limit the total fundraising amount despite high demand, reflecting a disciplined approach to capital management [8][11] Market Trends - The narrative around the revaluation of tech assets, particularly in AI, continues to attract global investors, contributing to a recovery in dollar fund fundraising [4][6] - There is a growing interest from LPs in Chinese tech assets, with new LPs from Europe, the Middle East, and Southeast Asia actively seeking exposure [9][18] - The valuation gap between Chinese and U.S. AI companies presents significant investment opportunities, as many Chinese firms are currently undervalued compared to their U.S. counterparts [18][19] Investment Strategy - Monolith's investment strategy has evolved to focus more on AI applications and hardware, moving away from a broader investment scope [17] - The firm aims to leverage its market position to invest in early-stage opportunities within the AI sector, which is seen as a key growth area [17][18] - The successful fundraising and strategic focus on AI are expected to enhance Monolith's competitive edge in the VC landscape [3][4][12]