Chinese AI firm 4Paradigm pockets $700m led by Boyu, Primavera, Hopu

Chinese AI firm 4Paradigm pockets $700m led by Boyu, Primavera, Hopu

Source: Andy Kelly/Unsplash

Chinese artificial intelligence (AI) giant 4Paradigm has raked in $700 million in a Series D round of financing jointly led by the country’s private equity (PE) companies Boyu Capital, Primavera Capital, and Hopu Investments, the firm announced in a statement on Friday.

With the new financing, 4Paradigm roped in a group of strategic investors with close links to the government, including China’s National Manufacturing Transformation and Upgrading Fund, a 147.2-billion-yuan ($22.8 billion) state-owned fund led by the Ministry of Finance.

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