EPISODE · Jun 16, 2026 · 6 MIN
China's $16.5B Q1: Why agents are winning where megarounds aren't
from Metagame
Asian VC hit $27.4B in Q1 — the highest quarterly total in over three years, with China accounting for $16.5B and claiming its third straight quarter of growth. The largest rounds went to AI-focused companies: StepFun's foundation model, Moonshot's agentic platform, and Galaxy Bot's robotics stack. The US owns the megarounds, China owns the agents — so where does your geographic thesis stand in a bipolar AI world?
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China's $16.5B Q1: Why agents are winning where megarounds aren't
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This episode was published on June 16, 2026.
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Asian VC hit $27.4B in Q1 — the highest quarterly total in over three years, with China accounting for $16.5B and claiming its third straight quarter of growth. The largest rounds went to AI-focused companies: StepFun's foundation model, Moonshot's...
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