Industry Investment Rating - No relevant information provided Core Viewpoints - On July 11, 2025, the domestic and foreign venture capital markets disclosed a total of 29 investment and financing events, including 15 domestic enterprises and 14 foreign enterprises, with a total financing amount of approximately 9.239 billion yuan [1] Summary by Category Fundraising Events - Tianjin Jingkai Science and Technology Innovation Mother Fund expanded to 380 million yuan, aiming to build a state - owned capital market - oriented industrial fund system and a "Angel + Venture Capital + Industry + Merger" fund group [1] - China Chengtong and the Jiangsu Provincial People's Government signed a framework cooperation agreement to establish the 10 - billion - yuan Chengtong Science and Technology Innovation (Jiangsu) Fund, and 2 sub - funds of Chengtong Science and Technology Innovation (Beijing) Fund also signed relevant framework agreements, aiming to support early - mid - stage technology projects and form a "mother fund + direct investment fund" synergy [2][3] Large - scale Financing - Inmo Technology completed over 150 million yuan in Series B+ financing, and the funds will be used for R & D, AI core capacity building, and business expansion [4] - Shijia Technology completed nearly 100 million yuan in Series A financing, and the funds will be used for the construction of a smart manufacturing center and key technology R & D [5] - BILT completed a $250 million Series C financing, and the funds will be used for business expansion in multiple fields [6] Policy Focus - Beijing released the first local policy for scientific intelligence, aiming to build a scientific foundation large - model, multiple databases, and form an international - competitive industrial cluster by 2027 [7] - The 2025 national basic medical insurance drug catalog adjustment started, and a commercial health insurance innovative drug catalog was added for the first time [8] - The Shanghai Stock Exchange launched a pre - review mechanism for IPOs on the Science and Technology Innovation Board, allowing eligible technology - based enterprises to apply for pre - review [10]