Exclusive | MiniMax's new shareholders exposed: The addition of "Shanghai State-owned Assets", nearly $300 million in new financing is basically completed.

According to informed sources from Sina Technology, the large-scale modeling company MiniMax has recently completed a new round of financing of nearly 300 million US dollars. After this round of financing, the company's valuation exceeds 4 billion US dollars. The investors in this round of financing include listed companies, cross-over funds, and large state-owned platforms such as Shanghai State-owned Assets. According to insiders, this round of financing began half a year ago and has now been basically finalized. Previously, MiniMax completed a 600 million US dollars Series B financing from Alibaba, and a Series A financing of over 250 million US dollars from Tencent Capital. Early investors also included CloudStart Capital, Hillhouse Ventures, IDG, Joy Capital, MiHoYo, etc., but there were no state-owned background investors. According to public data, after this round of financing, the only large-scale modeling companies in China with a valuation of 30 billion yuan are MiniMax and Zhipu. Sina Technology has sought confirmation from MiniMax, but as of the time of publication, the company has not responded.