对话纪源资本符绩勋&吴陈尧&李浩军：走过20多年初心未改，对未来充满期待

Core Viewpoint - The article emphasizes the strategic long-term investment approach of Jiyuan Capital in AI and embodied intelligence, highlighting significant growth in investment amounts and the anticipation of multiple IPOs in the coming year [4][5][8]. Investment Trends - In 2025, Jiyuan Capital's investment amount reached nearly 3 billion RMB, a 2.5 times increase compared to 2024 [8][10]. - The firm has invested in over 50 AI-related companies and 8 companies in the embodied intelligence sector over the past decade [8][10]. - Jiyuan Capital has successfully recouped over 2 billion RMB in cash through IPOs in 2025, with more than 20 companies in its portfolio preparing for or undergoing IPO processes [8][10]. Team Development - The team size at Jiyuan Capital has grown from 73 to 82 members to better address the expanding AI and embodied intelligence market [5][9]. - The promotion of two partners, Wu Chenyiao and Li Haojun, reflects the stability and experience of the core management team, which has over 20 years of industry experience [9][10]. Market Observations - The current AI and embodied intelligence landscape is characterized by rapid changes, requiring entrepreneurs to possess strategic thinking capabilities to navigate the evolving market [17][20]. - Jiyuan Capital is focused on projects that address specific, defined needs within vertical applications, emphasizing the importance of strong founding teams [16][24]. Global Perspective - Jiyuan Capital aims to leverage its global resources to assist portfolio companies in expanding into international markets, particularly in Southeast Asia [31][32]. - The firm recognizes China's advantages in application scenarios, talent, and supply chain, which are crucial for the development of embodied intelligence [25][26]. Long-term Vision - The firm views the current investment landscape as a long-term journey, akin to a marathon, where patience and a focus on value investment are essential [9][10]. - Jiyuan Capital believes that the AI era presents unprecedented opportunities for creating large-scale companies, potentially reaching trillion-dollar valuations [21][22].