Core Insights - The article discusses the transformation of the Chinese venture capital ecosystem, highlighting a new collaborative paradigm that is reshaping the market amid geopolitical tensions and technological advancements [2] - In 2025, the global venture capital market is expected to see a deep adjustment, with capital increasingly concentrating in high-potential areas, particularly artificial intelligence, where single financing rounds have exceeded $40 billion [2] - Corporate Venture Capital (CVC) is identified as a key player in reshaping the global business ecosystem, leveraging parent companies' resources and technological foundations to drive innovation from lab to mass production [2] Group 1: CVC Investment Dynamics - The survey identified 100 active CVC institutions based on core indicators such as investment activity and exit performance, reflecting the dynamic investment landscape in China's capital market [3] - Only 20% of CVCs fully utilize their parent companies' own funds, while 80% adopt a fund model, with over 70% of CVCs raising 40%-80% of their funds externally [5] - Nearly 50% of CVCs combine strategic and financial investments, with over 90% completing the investment process within six months [5] Group 2: CVC Landscape and Trends - Among the 100 listed CVCs, 29 are new entrants compared to 2024, including notable names like Moutai Fund and Xiaomi Capital [5] - Over 87% of the listed CVCs are driven by publicly listed companies, with a significant concentration in the smart manufacturing, automotive, and energy sectors [21] - The geographic distribution of CVCs shows a concentration in Guangdong, Beijing, Shanghai, and Zhejiang, which together account for 69% of the total [24] Group 3: Investment Focus and Regional Concentration - The primary investment focus for CVCs in 2024 is on smart manufacturing (51%) and artificial intelligence (35%), with significant activity also in enterprise services and new materials [27] - Investment activities are highly concentrated in economically developed regions, particularly Beijing and Guangdong, which together represent 44% of the investment focus [27]