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Who Are Chinese VCs' Own People: Embodied AI's Share of Top VCs' Early AI Investments Rises to 39%

Dongcha Beating collected 17,079 seed-to-Series-A records from 46 institutions and identified 1,195 Chinese AI companies backed by 29 top VCs, of which 410 founding teams have verifiable backgrounds; only 4 had a No. 1 executive with an investment-firm background. In the first half of 2026, there were 1,203 AI funding rounds totaling 307.7 billion yuan; AI accounted for 55% of top VCs' early-stage investments, embodied AI accounted for 39% of early-stage AI deals, and autonomous driving had almost exited. Among founders from AI unicorns, 50% raised over 100 million yuan in their first round, versus 25% for other companies.

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