Lake Capital’s Ray Hu and Haitao Wei Jointly Attended the “Autonomous Driving Investment Landscape” Session at Fudan University

On 23 May, as Fudan University approaches its 120th anniversary, Ray Hu, Founder & Managing Partner of Blue Lake Capital,returned to his alma mater as a distinguished alumnus speaker, joined by Haitao Wei, Partner of Blue Lake Capital. Together, they served as keynote speakers at the “Autonomous Driving Investment Landscape” seminar and the 28th session of the Fudan School of Economics Young Alumni Forum – an event jointly organised by the Fudan University Alumni Association PE/VC Club and the Alumni Association of the School of Economics, Fudan University. The event centred on key topics such as the current state, emerging trends and investment opportunities within the autonomous driving industry, attracting nearly one hundred alumni and industry professionals.

At the outset of the event, Zhan Lu, Vice Dean of the School of Economics at Fudan University, delivered the opening remarks. She emphasised that autonomous driving technology represents a vital frontier for technological innovation and a new engine for economic growth, with capital playing a crucial role in enabling its commercialisation. Vice Dean Zhan then presented commemorative plaques to Ray Hu and Haitao Wei on behalf of the Young Alumni Forum, expressing her welcome and appreciation.

Ray Hu provided a comprehensive overview of Blue Lake Capital’s investment strategy and industry insights. He noted that since its establishment in 2014, Blue Lake Capital has focused on intelligent manufacturing and digital innovation, managing over RMB 8 billion in assets. The firm’s core investment areas include physical world sensing, AI-driven decision-making and machine control.

In the autonomous driving sector, Blue Lake Capital has closely tracked the commercialisation of this technology since its initial investment in Momenta in 2016. Ray Hu further highlighted the growing attention from capital markets towards intelligent driving, noting the marked share price increases of leading automakers such as BYD and Tesla. He emphasised that BYD’s “Intelligent Driving for All” strategy is expected to drive down industry costs and accelerate the widespread adoption of intelligent driving technologies, marking a significant milestone in the commercialisation of autonomous driving. As the sector evolves, an increasing number of viable commercial applications for intelligent driving are becoming possible.

Taking an industry development perspective, Haitao Wei provided a systematic overview of the evolution of autonomous driving, tracing its trajectory from the 2004 DARPA Grand Challenge to the present day. He also offered in-depth analysis of the commercial logic underpinning various application scenarios. He highlighted that China is accelerating the commercialisation of autonomous driving technologies by leveraging three core advantages: algorithmic innovation, a robust hardware manufacturing ecosystem and supportive government policies. Among the most promising areas are urban delivery (a trillion-RMB market opportunity), long-haul logistics (with strong demand for cost optimisation), and unmanned cleaning (driven by an ageing population). However, each of these applications faces a complex set of challenges, including technological breakthroughs, regulatory adaptation and the need for scalable operations.

From an industry value chain perspective, Haitao Wei emphasised that the architecture of autonomous driving is undergoing a structural shift from distributed to centralised systems. This transition is creating incremental market opportunities in critical segments such as chips, LiDAR, and simulation testing. Regarding the commercialisation of L4 autonomous driving, he stressed that three key hurdles must be addressed in parallel: achieving cost optimisation through mass production of hardware, advancing algorithms driven by vast volumes of data, and fostering policy openness to establish a robust regulatory framework. It is worth noting that different application scenarios demand distinct technical capabilities. For instance, autonomous taxis (Robotaxi) must overcome the challenges of perception and decision-making in complex urban environments, while closed-site scenarios place greater emphasis on the stability and efficiency of automated systems. Within the context of global competition, China should build differentiated competitive edges through the coordinated development of algorithmic iteration, hardware innovation, and deep integration with real-world application scenarios.

At the conclusion of the event, the speakers and audience engaged in an interactive discussion covering topics such as autonomous driving technology and safety, investment decision-making and considerations, and business development models. Blue Lake Capital reaffirmed its commitment to deepening its focus on autonomous driving and related emerging sectors, driving breakthroughs in both technology and commercialisation, and supporting the global expansion of Chinese technology enterprises.

Source: Fudan PE|VC Club