Monolith Management, which backed DeepSeek-rival MoonShot AI, has raised about $289 million as it seeks to invest in more companies in the country’s artificial intelligence space.
The Chinese venture capital fund surpassed its initial fundraising target of $265 million and will use the money to back more tech startups, people familiar with the matter said, asking to remain anonymous to discuss the private deal. Monolith representatives didn’t respond to an emailed request for comment.