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Top 50 Climate Startup Investors in Asia (August 2026)

The most active venture capital funds and angel investors investing in Asia Climate startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Asia Climate startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Addor Capital
VC Fund
89 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$47M
Shenzhen Capital Group
VC Fund
88 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.6M–$156M
Cowin Capital
VC Fund
83 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$51M
HSG
VC Fund
60 China, United States, Australia Series B, Series A, Seed Artificial Intelligence, Biotechnology, Software $2M–$282M
Qiming Venture Partners
VC Fund
58 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$134M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
58 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.5M–$150M
Shunwei Capital
VC Fund
56 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.4M–$130M
Mitsubishi UFJ Capital
VC Fund
47 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.2M–$198M
Innoangel Fund
VC Fund
47 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$29M
Matrix Partners China
VC Fund
45 China, United States, Singapore Series A, Series B, Seed Health Care, Software, Artificial Intelligence $2.8M–$137M
Oriental Fortune Capital
VC Fund
44 China, United States Series A, Series B, Seed Software, Manufacturing, Information Technology $1.4M–$100M
IDG Capital
VC Fund
41 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $3M–$310M
Fortune Venture Capital
VC Fund
40 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $425k–$73M
K2VC
VC Fund
39 China, United States, Japan Series A, Seed, Angel E-Commerce, Manufacturing, Biotechnology $425k–$50M
SMBC Venture Capital
VC Fund
35 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.5M–$184M
Global Brain Corporation
VC Fund
34 Japan, United States, United Kingdom Series A, Series B Software, Information Technology, Artificial Intelligence $2.4M–$109M
Xiaomi
VC Fund
33 China, India, Indonesia Series A, Series B, Series C Manufacturing, Software, Information Technology $1.4M–$220M
Puhua Capital
VC Fund
33 China, United Kingdom, United States Series A, Series B, Seed Health Care, Medical, Manufacturing $1.4M–$103M
Mizuho Capital
VC Fund
33 Japan, United States, Singapore Series A, Series B Information Technology, Software, Artificial Intelligence $2M–$269M
SZHTI Group
VC Fund
32 China, United States Series A, Angel Manufacturing, Electronics, Semiconductor $425k–$16M
CDH Investments
VC Fund
32 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $7.3M–$220M
Incubate Fund
VC Fund
30 Japan, United States, India Seed, Series A Software, Information Technology, E-Commerce $317k–$57M
Oriza Seed Capital (Oriza Yuandian)
VC Fund
28 China, United States, Singapore Series A, Seed, Angel Manufacturing, Health Care, Medical $213k–$60M
Yunqi Partners
VC Fund
27 China, United States, Singapore Series A, Seed, Series B Artificial Intelligence, Software, Manufacturing $2.1M–$60M
Plum Ventures
VC Fund
27 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $425k–$28M
Legend Capital
VC Fund
27 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $2.9M–$200M
Qianhai Fund of Funds
VC Fund
27 China, Japan, Canada Series A, Series B, Series C Manufacturing, Health Care, Software $1.4M–$126M
GSR United Capital
VC Fund
27 China, United States, Singapore Series A, Seed, Series B Manufacturing, Robotics, Artificial Intelligence $98k–$50M
UntroD Capital
VC Fund
27 Japan, Singapore, Austria Seed, Series A Manufacturing, Biotechnology, Health Care $772k–$90M
ZSVC
VC Fund
26 China, United States, India Series A, Seed, Series B Manufacturing, Medical, Health Care $1.4M–$85M
Frees Fund
VC Fund
26 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
SND Ventures Group
VC Fund
25 China Series A, Series B, Seed Manufacturing, Semiconductor, Health Care $1.4M–$28M
Tsinghua Capital
VC Fund
25 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Biotechnology $425k–$74M
Seeds Capital
VC Fund
25 Singapore, United States, Hong Kong Seed, Series A, Series B Biotechnology, Artificial Intelligence, Health Care $767k–$45M
Hefei Industry Investment Group
VC Fund
25 China, Israel Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $7.9M–$295M
SOSV
VC Fund
25 United States, India, United Kingdom Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software
China Fortune-Tech Capital
VC Fund
25 China Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $14M–$213M
Northern Light Venture Capital
VC Fund
24 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$100M
Zhuoyuan Capital
VC Fund
24 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Artificial Intelligence $1.4M–$43M
Hua Capital
VC Fund
24 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Electronics $4.7M–$145M
Oriza Holdings
VC Fund
24 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $1.7M–$200M
Vertex Ventures China
VC Fund
23 China, United States, Hong Kong Series A, Series B, Seed Manufacturing, Artificial Intelligence, E-Commerce $1.6M–$93M
Glory Ventures
VC Fund
23 China, Israel, United States Series A, Seed, Series B Artificial Intelligence, Software, Manufacturing $3M–$251M
China Capital Management
VC Fund
23 China Series A, Series B, Series C Manufacturing, Aerospace, Semiconductor $457k–$283M
ZhenFund
VC Fund
23 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Software, E-Commerce $425k–$23M
Hefei Innovation Investment
VC Fund
22 China Series A, Series B, Seed Manufacturing, Industrial, Advanced Materials $7.9M–$200M
China Merchants Venture Capital
VC Fund
22 China, United States, India Series A, Series B, Series C Manufacturing, Automotive, Internet $1.4M–$177M
ZGC Group
VC Fund
22 China, United States, United Kingdom Series A, Seed, Series B Manufacturing, Artificial Intelligence, Information Technology $283k–$85M
ANRI
VC Fund
21 Japan, United States, Indonesia Seed, Series A Software, Medical, Health Care $413k–$41M
Gaorong Capital
VC Fund
21 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$110M
Access all 50 investors in Asia Climate startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Addor Capital
VC Fund · Nanjing, Jiangsu, China · 89 investments in Asia Climate startups

Addor Capital offers investment services by financing early stage ventures and holding securities of other companies.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Series A, Series B, Seed
  • Geography: China, Hong Kong, Singapore

Investor stats

  • Total investments: 344
  • Round size: Seed $1.4k–$14M; Series A $1.6M–$43M; Series B $13M–$47M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Ibeki — Ibeki provides tiny photoelectric displacement sensors and servo control systems. eBridge uses the high precision and miniaturization of its precision motion drive technology to provide customers with a more complete technology portfolio, and has successfully transformed its core technology into a number of military and civilian products,particularly in aerospace, medical equipment, and intelligent control.
  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Ruimeng Semiconductor — Ruimeng Semiconductor is a provider of intelligent human-machine interface processor chips and solutions.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 88 investments in Asia Climate startups

Shenzhen Capital Group Co., Ltd (“SCGC”) is a limited venture capital company established by the Shenzhen Government in 1999. Since its establishment, SCGC has focused on cultivating national industries, shaping national brands, promoting economic transformation, and emerging industries developing. SCGC has registered capital of 5.42 billion RMB,and a total AUM of 338.99 billion RMB. SCGC primarily invests in SMEs, innovative high-tech enterprises, enterprises in emerging industries, and enterprises in start-up period, growth period and in transformation, covering industries supported by national policies, including IT, internet, new media, biopharma, new energy, environmental protection, chemical engineering, new material, high-end equipment manufacturing, consumption goods, modern service, etc. By the end of April 2019, SCGC ranked the first based on the number of portfolio companies and the number of listed portfolio companies: 994 portfolio companies, investments totaling 43.9 billion RMB, 145 of which have been listed in 16 capital markets worldwide.

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Investment focus

  • Industry: Manufacturing, Health Care, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 533
  • Round size: Series A $1.6M–$156M; Series B $14M–$142M; Series C $4.3M–$156M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Waker Biology — Weike Bio is a gene therapy drug development company.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 83 investments in Asia Climate startups

Cowin Capital is a private placement equity investment company focusing on investing in a pioneering enterprise on a long-term basis. It has 18 years of experience in capital management, whose capital management scale was among the front rank, which invested more than 300 companies, of which 60 more became public companies, and 150 moresuccessfully exit.The company was successfully listed on NEEQ, with code 832793, as the third listed famous domestic venture capital institution in NEEQ. It is committed to supporting the growth of small and medium enterprises, continue to launch high-quality listed companies in China Capital Market.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 327
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$51M; Series B $2.8M–$50M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • Bytetree — Bytetree is a technology company that focuses on providing the one-stop AI data services for data collection, cleaning, labeling, management, and storage for OEMs and autonomous driving solution providers, covering bicycle intelligence. , vehicle-road coordination, and smart cockpit three scenarios.
  • Digital China — Digital China is a robotics company focused on developing humanoid interactive robots that can break traditional boundaries and create emotionally resonated partners.
  • Huachen Core Light — Huachen Core Light is a semiconductor technology company that produces and manufactures optical communications and laser chips.
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HSG
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 60 investments in Asia Climate startups

HSG is a leading venture capital and private equity firm investing globally in the technology, healthcare, and consumer sectors.

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Investment focus

  • Industry: Artificial Intelligence, Biotechnology, Software
  • Stage:Series B, Series A, Seed
  • Geography: China, United States, Australia

Investor stats

  • Total investments: 610
  • Round size: Seed $2M–$60M; Series A $10M–$100M; Series B $14M–$282M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/7a5aSCUfnr https://t.co/x14hb3jO7O
  • Full Truck Alliance — Full Truck Alliance is a platform that connects shippers with truckers to facilitate shipments across distance ranges and cargo weights. its revenues principally from shippers' and truckers' use of its platforms in connection with freight matching services.
  • Suisheng Technology — Suisheng Technology is an innovative company specializing in AI-driven memory services, dedicated to developing intelligent solutions that help individuals and businesses capture, organize, and retrieve important information with greater efficiency and precision.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 58 investments in Asia Climate startups

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China, and Singapore.Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companiesin the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 898
  • Round size: Series A $5M–$67M; Series B $9.4M–$100M; Series C $15M–$134M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Guangjing Energy — Guangjing Energy specializes in the R&D and mass production of durable, large-area perovskite solar cell modules. They develops perovskite film printing technology with independent intellectual property rights and realized the preparation of large-area perovskite components.
  • Talaris Therapeutics — Talaris seeks to help kidney transplant recipients and patients suffering from severe auto-immune diseases to live healthy lives free from chronic immunosuppression
  • Shennapsi Artificial Intelligence Technology — Synapsor is a medical-grade wearable device research and development company, oriented to the AI+ medical and health field, and is committed to the development and manufacturing of AI-powered medical-grade smart wearable devices, including AI-ECG artificial intelligence. Diagnostic analysis system, CUMS uric acid blood glucose and cholesterolmonitoring system, etc. The company has recently received tens of millions of yuan in Series B investment, and the investor is Xiaomi Technology.
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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 58 investments in Asia Climate startups

Lenovo Capital and Incubator Group is an accelerator and venture capital firm.

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Investment focus

  • Industry: Manufacturing, Artificial Intelligence, Software
  • Stage:Series A, Seed, Series B
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 302
  • Round size: Seed $1.5M–$29M; Series A $1.5M–$74M; Series B $8M–$150M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
  • Shenzhen Urban Transport planning Center — Shenzhen Urban Transport planning Center provides traffic information engineering and technical services in China.
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Shunwei Capital
VC Fund · Beijing, Beijing, China · 56 investments in Asia Climate startups

Shunwei Capital is a venture capital fund that focuses on early to mid-stage investments in local internet industry. It specializes in incubation, startups, early to mid-stage, and growth capital investments. It seeks to invest in the technology, media, telecommunications, high technology, new media, games, internet finance, and rural area internetsectors. Their investors include sovereign wealth funds, fund of funds, university endowment funds, and family offices.

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Investment focus

  • Industry: Manufacturing, Software, Internet
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 489
  • Round size: Series A $1.4M–$41M; Series B $8.2M–$58M; Series C $20M–$130M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/7a5aSCUfnr https://t.co/x14hb3jO7O
  • Darma — DARMA - Digital Healt
  • Heluo New Image — Heluo New Image is a cell treatment platform developer that focuses on iPSC directed differentiation, gene editing, large-scale cell product production, and cell therapy technology development.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 47 investments in Asia Climate startups

Mitsubishi UFJ Capital is a venture capital firm focusing on life science, ICT, and high technology investments.

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Investment focus

  • Industry: Information Technology, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 576
  • Round size: Series A $1.2M–$74M; Series B $4.3M–$198M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • ADiXi — Adixi is a tech-driven business that supports the idea that people and technology may work together. It strives to open doors by utilizing cutting-edge technology, such as artificial intelligence, to promote long-term, sustainable corporate and societal progress.
  • WARPSPACE — ARPSPACE is a space startup originating from the University of Tsukuba, has been launching and working on a satellite development project at the University of Tsukuba for five years until the company was established.
  • Luxna Biotech — Luxana Biotech is a biotechnology firm dedicated to promoting the practical use of safe and effective nucleic acid therapies. Utilizing nucleic acid chemistry technology, the company strives to provide nucleic acid medicines to patients suffering from diseases that currently lack effective treatments.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 47 investments in Asia Climate startups

Innoangel Fund is an investment firm that invests in early stage companies.

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Investment focus

  • Industry: Artificial Intelligence, Manufacturing, Robotics
  • Stage:Angel, Seed, Series A
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 253
  • Round size: Seed $425k–$27M; Angel $425k–$14M; Series A $1.4M–$29M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Awomo — Awomo, an AI technology service provider and focuses on the field of Physical AI, dedicated to building foundational models and intelligent systems for robots and the real world.
  • NoizAI — Noiz AI is a product that offers highly expressive, lifelike speech synthesis, leading the industry in cost, efficiency, and customization. Use cases include TTS, voice cloning, video dubbing, and video translation.
  • Zhidao Hechuang — Zhidao Hechuang is a comprehensive solution provider for new energy asset management.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 45 investments in Asia Climate startups

Matrix Partners China builds long-term relationships with entrepreneurs and helps them build significant, industry-leading companies.Since its inception in 1977, Matrix Partners China has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have goneon to profitable M&A events. The firm consistently ranks in the top venture firms in terms of returns to its investors.Matrix Partners China combines local knowledge with global experience and vision. Its team consists of both former entrepreneurs and experienced investors. Its past successes include Focus Media, Eachnet, and Baidu, among others. The company invests across multiple sectors and stages.

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Investment focus

  • Industry: Health Care, Software, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 499
  • Round size: Seed $2.8M–$98M; Series A $3M–$61M; Series B $10M–$137M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Lexin — LexinFintech Holdings is an online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng online investment platform, and theCompany's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions. By serving the credit needs of China's educated young adults, Lexin helps its more than 20 million registered users to enjoy a better quality of life through the use of better credit.
  • Huangbaoche — Huangbaoche is a travel service providing tour packages and booking services. Huangbaoche has over 100,000 Chinese-speaking drivers and tour guides providing airport pick-up services, chartered car services, and guided tours in over 1,500 overseas travel destination cities in 80 countries.
  • Nuance Biotech — Nuance Biotech is a pharmaceutical company Based In China.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Oriental Fortune Capital
VC Fund · Shenzhen, Guangdong, China · 44 investments in Asia Climate startups

Shenzhen Oriental Fortune Capital Co Ltd. is a venture capital firm specializing investment in early venture, mid venture, late venture, emerging growth, Pre-IPO, mature, growth capital stage, mezzanine and new third board investments. The firm typically invests in financial services, telecommunication, new energy, consumer goods, medical treatmentand healthcare, life sciences, internet plus healthy lifestyle industry, logistics, energy technology, information technology, mobile innovation, media, movies and television, culture, pharmaceutical, biological medicine, renewable energy, retail, environmental protection business, consumption, new materials, new agriculture, advanced manufacturing, equipment manufacturing, culture, entertainment, and services. It seeks to invest in China focusing on Shenzhen, Shanghai, Beijing, Xi’an, and Wuhu. The firm also invests in Pearl River Delta region, Yangtze River Delta region, and Circum-Bohai-Sea region. For Pearl River Delta, it covers Guangzhou, Shenzhen, Foshan, Dongguan, Zhongshan, Zhuhai, Huizhou, Jiangmen, and Zhaoqing cities in China. For Yangtze River Delta, the firm covers Shanghai, Nanjing, Wuxi, Changzhou, Suzhou, Nantong, Yancheng, Yangzhou, Zhenjiang, Taizhou, Hangzhou, Ningbo, Jiaxing, Huzhou, Shaoxing, Jinhua, Zhoushan, Taizhou, Hefei, Wuhu, Ma’anshan, Tongling, Anqing, Chuzhou, Chizhou, and Xuancheng cities in China. For the Circum-Bohai-Sea region, it covers Beijing, Tianjin, Shenyang, Dalian, Qingdao, Dandong, Yingkou, Panjin, Fuxin, Huludao, Chaoyang, Shijiazhuang, Baoding, Tangshan, Qinhuangdao, Cangzhou, Langfang, Chengde, Zhangjiakou, Handan, Xingtai, Dongying, Yantai, Weifang, Weihai, Rizhao, and Binzhou cities in China. The firm prefers to invest 20% of its portfolio to early stage, 40% to expansion stage, and 40% to Pre-IPO stage. Shenzhen Oriental Fortune Capital Co Ltd. was formed in November 2007 and is based in Shenzhen, China with offices in Shanghai, China; Beijing, China; and Wuhu, China.

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Investment focus

  • Industry: Software, Manufacturing, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 278
  • Round size: Seed $2.9M–$100M; Series A $1.4M–$43M; Series B $8.5M–$100M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Awomo — Awomo, an AI technology service provider and focuses on the field of Physical AI, dedicated to building foundational models and intelligent systems for robots and the real world.
  • Youshu Quantum — Youshu Quantum is a deep-tech startup specializing in quantum computing software, middleware, and proprietary algorithms.
  • Lightwheel — Light Wheel Intelligence is offers automated, physically precise and controllable, real and generalizable synthetic data solutions to build AI data infrastructure,
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IDG Capital
VC Fund · Beijing, Beijing, China · 41 investments in Asia Climate startups

IDG Capital is a global investment firm partnering with founders to build enduring businesses through capital, expertise, and long-term support.

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Investment focus

  • Industry: Software, Internet, E-Commerce
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 826
  • Round size: Series A $3M–$122M; Series B $8.5M–$142M; Series C $15M–$310M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Bivision — Biovision Pharma is a biomedical enterprise focusing on the research and development of targeted radiopharmaceuticals (TRT) integrated with visual diagnosis and treatment.
  • Youxi Film Hotel — Youxi Film Hotel which is a hotel in China that combines the perfect combination of hotel and movie IP. It is also a movie hotel theme, combining film derivative industry, movie theme social space and film shooting. An integrated creative culture complex; dedicated to creating a Chinese-style movie and hotel cross-border experience hotel, breakingthrough the traditional overnight function of a traditional hotel, creating the ultimate movie experience for young people with a mindset.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 40 investments in Asia Climate startups

Fortune Capital, established in April, 2000, is one of the earliest market-oriented venture capital firms in China. For the past 14 years, Fortune Capital focus its investments on leading companies in four key sectors: TMT (Media oriented), Consumer Goods/Services, Modern Agriculture and Clean Tech.Fortune Capital is ranked among thehighest performing VC/PE firms in China and selected as "Vice President of Venture Capital Committee of IAC," "Vice President of Shenzhen VC Association," "Vice President of Shenzhen Chamber of International Investment & Funding," etc.In addition to providing capitals, Fortune Capital provides its investee companies with personalized value-added services.

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Investment focus

  • Industry: Manufacturing, Software, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: China, Japan, United States

Investor stats

  • Total investments: 283
  • Round size: Seed $425k–$73M; Series A $1.4M–$70M; Series B $2.8M–$57M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $780M in 2021

Portfolio highlights

  • Sandstone — SandStone is a product, solution and service provider focused on next-generation data storage (ServerSAN), which is dedicated to helping users cope with data storage, traffic and data management complexity, helping users build storage virtualization and Computation of virtualization as the core cloud computing infrastructure environment, andgradually provide data processing, mining, analysis and intelligence in the field of big data professional systems and services.
  • Xinjie Energy — Xinjie Energy focuses on the research, development, and production of lithium metal solid-state batteries. These batteries aim to offer energy density and improved safety compared to traditional lithium-ion batteries. The company works on advancing battery technology, with potential applications in electric vehicles and energy storage. It isinvolved in advancing solid-state battery technology and expanding its presence in the battery industry.
  • Strongest Laser — Strongest Laser is a high-power fiber laser equipment developer.
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K2VC
VC Fund · Beijing, Beijing, China · 39 investments in Asia Climate startups, 13 in the past 12 months

K2VC (Xianfeng Evergreen) was founded in 2010, focused on early stage investment in technology start-ups in China, focus on promoting change and technological progress, innovative business models and lifestyles.

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Investment focus

  • Industry: E-Commerce, Manufacturing, Biotechnology
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 215
  • Round size: Seed $1.5M–$14M; Angel $425k–$7M; Series A $1.4M–$50M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: May invest from a new fund soon — raised $141M in 2018

Portfolio highlights

  • Quantex — Quantex is committed to focusing on the next generation of information technology and integrated circuit fields, and is dedicated to the in-depth research and development of 3.2T/6.4T photonic integrated chips (PIC), optical modules and CPO (co-packaged optics) solutions, leading the localization of high-end optical transmission chips.
  • Mofeng Technology — Mofeng Technology is a high-tech enterprise specializing in the research and development of polymer materials.
  • ChipSense Technology — ChipSense Technology is a semiconductor focused on developing high-performance chips for AI computing infrastructure. The company provides chip solutions that enable perception and efficiency management in AI computing centers, helping optimize resource utilization, operational efficiency, and intelligent management of large-scale AI computingclusters.
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SMBC Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 35 investments in Asia Climate startups

Sumitomo Mitsui Banking Corporation (SMBC) and its group companies offer a broad range of financial services centered on banking. They are also engaged in the leasing, securities, credit card, investment, mortgage securitization, venture capital and other credit related businesses. The following lists the activities of SMBC, its subsidiaries andaffiliates in the various business segments.

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Investment focus

  • Industry: Information Technology, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 584
  • Round size: Series A $1.5M–$106M; Series B $3.1M–$184M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • LQUOM — QWAVE offers cryptography communication technology.
  • Atom — Atom is a humanoid robot built platform. Its bipedal, dual-armed robots are designed not just as industrial tools but as collaborators that expand human capability. By combining advanced Physical AI—environmental perception, judgment, and action planning—with robust robotic hardware, Atom is creating adaptive agents capable of working acrossdiverse settings to augment or, where appropriate, replace human labor. The company positions these robots as a next step in societal evolution: a new class of machines that learn and behave in human-like ways to advance productivity, safety, and quality of life.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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Global Brain Corporation
VC Fund · Tokyo, Tokyo, Japan · 34 investments in Asia Climate startups

Global Brain Corporation is a venture capital firm that invests in companies from seed or early to pre-IPO startups. Global Brain has invested in 300+ startups from seed/early to pre-IPO startups and achieved 25 IPOs and 61 M&As as a result of providing hands-on support services and resources to its portfolio startups. Global Brain hasmanaged a pure investment fund as well as multiple corporate venture capital funds partnered together with tier 1 public companies of telecom, real estate development, financial service, beverages, agriculture food, logistics, and electronic devices.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Series B
  • Geography: Japan, United States, United Kingdom

Investor stats

  • Total investments: 677
  • Round size: Series A $2.4M–$63M; Series B $4.3M–$109M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Eyeota — Engage your best customers with trusted audience data | enrich insights, enhance personalization and transform audience targeting.
  • Moi — Moi Corporation was founded to deliver on the promise of the Twitcasting social live streaming platform. We developed Twitcasting to enable people to stream and share live video anytime, anywhere - connecting the world in real-time. TwitCasting provides a live streaming social platform that enables real-time chat between broacasters andviewers, through apps or desktop. Users can follow their favorite broadcasters and receive notifications when new a new live stream is about to start. Broadcasters can save and publish their live streams for later viewing.In early 2014 we added "Collabo" to Twitcasting, enabling as many as 6 users to broadcast together, in a single display. Viewers can join a broadcast that is already streaming live and broadcast together. It is the first app to support multi-device broadcasting in a single stream on mobile and PC. Our user base has doubled every year, and hit 7.5 million in September, 2014. While the largest part of our base is in Asia, users in US, Brazil, Mexico and other Latin American countries are now growing rapidly. About 70% of our users are under 25 years old, & approximately 95% of broadcasters shoot on mobile. 
  • Deeping Source — Real-time Video Analytics based on Data Anonymization. High-accuracy computer vision for large-scale spaces: hypermarkets, shopping malls, convention centers, hospitals, logistics warehouses, construction sites, etc.
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Xiaomi
VC Fund · Beijing, Beijing, China · 33 investments in Asia Climate startups

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Investment focus

  • Industry: Manufacturing, Software, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: China, India, Indonesia

Investor stats

  • Total investments: 221
  • Round size: Series A $1.4M–$71M; Series B $2.8M–$63M; Series C $25M–$220M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/7a5aSCUfnr https://t.co/x14hb3jO7O
  • RoboParty — RoboParty is a bipedal robot technology company that specializes in research, development, and engineering of humanoid robots.
  • Hangzhou Xynova Technology Co. — Hangzhou Xynova Technology Co. develops robotic components, including dexterous hands, rotary actuators, and linear actuators.
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Puhua Capital
VC Fund · Hangzhou, Zhejiang, China · 33 investments in Asia Climate startups

Puhua Capital is an equity investment firm that focuses on early and middle project. Puhua Capital provides the required resources and management experience for the invested enterprise, investing funds and more resources and wisdom. Puhua Capital has invested nearly 300 excellent start-ups.

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Investment focus

  • Industry: Health Care, Medical, Manufacturing
  • Stage:Series A, Series B, Seed
  • Geography: China, United Kingdom, United States

Investor stats

  • Total investments: 257
  • Round size: Seed $2.3M–$29M; Series A $1.4M–$42M; Series B $2.8M–$103M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • XY TECH — Energy
  • Ganzhicao Technology — Gancao Doctor is an internet-based Traditional Chinese Medicine (TCM) company that helps clinics modernize their digital management and optimize operations. By using AI-assisted features, it enhances doctors' diagnostic and treatment abilities, delivering valuable benefits to doctors, patients, and clinics.
  • Interstellar Lightyear — Interstellar Lightyear Technology is a developer specializing in dexterous robotic hands, focusing on creating intelligent dexterous hands with advanced capabilities for precise manipulation.
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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 33 investments in Asia Climate startups

Mizuho is the venture capital firm affiliated to Mizuho Bank, the second-largest Japanese bank in terms of assets. The firm has headquarters in Tokyo.The firm has ¥49.6 billion JPY under management, focusing on information technology and biotechnology investments. Over 600 Mizuho companies have gone public. According to Nikkei, Mizuho is thefifth-largest venture capital firm in Japan.Mizuho Capital was formed in 2002 by the merger of Fujigin Capital, Tokyo Venture Capital and IBJ Investment. Three firms were subsidiaries of Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan respectively.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 477
  • Round size: Series A $2M–$79M; Series B $2.1M–$269M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • CaTe — CaTe is based in Tokyo. CaTe develops and manufactures a Digital Therapeutic (DTx) for remote cardiac rehabilitation. Their invention allows heart disease patients to safely and successfully complete cardiac rehabilitation utilizing standing exercise in a confined space, such as at home, without the use of ergometers or similar instruments.
  • bestat — bestat is a developer of platforms for 3D data creation, management, and utilization using AI and offers digital twins services.
  • FunPep — FunPep is an Industry-university collaboration bioventure company.
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SZHTI Group
VC Fund · Shenzhen, Guangdong, China · 32 investments in Asia Climate startups, 12 in the past 12 months

SZHTI Group is a company that provides asset management and financing services.

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Investment focus

  • Industry: Manufacturing, Electronics, Semiconductor
  • Stage:Series A, Angel
  • Geography: China, United States

Investor stats

  • Total investments: 132
  • Round size: Angel $425k–$1.4M; Series A $780k–$16M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Elegoo — ELEGOO specializes in the research, development, and production of the most quality & affordable 3D printers, Arduino-based STEM & robotic kits, making technology easy-to-access for all the makers around the world.
  • Menovex — Mir Medical Technology is a laser minimally invasive medical treatment enterprise, offering devices, core components, and modules in oral, urological, skin, and vascular fields. With independent research and development capabilities and international marketing, it provides full-cycle laser medical ODM services to domestic and foreign industrypartners.
  • Yingshen Intelligence — Yingshen Intelligence is a robot developer that focuses in the research, growth, and application of embodied intelligence technology.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 32 investments in Asia Climate startups

CDH Investments is an international alternative asset fund manager with over $27 billion of assets under management. CDH Investments was established in 2002 by the former private equity group of China International Capital Corporation and is managed by an experienced team of senior private equity professionals who have worked together for manyyears focusing all their professional time on investing in China. CDH has consistently delivered superior returns relative to industry peers and is well positioned to continue to generate superior returns due to the team's proven investment experience and expertise investing in China.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 298
  • Round size: Series A $7.3M–$100M; Series B $14M–$142M; Series C $30M–$220M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • HitGen — HitGen is provides biological reagents and services to support drug discovery research.
  • PaXini Tech — All Scenario Application—Haptic Digitization and Tactile Technology
  • Eyegood Ophthalmic Hospital — Eyegood Ophthalmic Hospital is a ophthalmology hospital.
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Incubate Fund
VC Fund · Tokyo, Tokyo, Japan · 30 investments in Asia Climate startups

Incubate Fund is an independent early-stage venture capital that specializes in providing capital to technology startups at the seed stage. The firm built a portfolio of over 300 companies in Asia, taking 12 companies to public and 20 companies to M&A exit since 2010.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 313
  • Round size: Seed $317k–$17M; Series A $2.4M–$57M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $2.4B in 2021

Portfolio highlights

  • Akari Hosho — Akari Hosho provides a group of trusted professionals, including lawyers and judicial scriveners. Akari Hosho provides a guarantee service.
  • Black Cat Carnival — Black Cat Carnival Inc. is a communication service development company.
  • Carbon CryoCapture — Carbon CryoCapture specializes in the carbon dioxide separation systems aimed at creating economically viable, energy-efficient, and genuinely sustainable CO2 separation and recovery technologies. The company is dedicated to deploying cost-effective, efficient systems for CO2 capture that integrate smoothly with current infrastructures, all whileenhancing energy consumption and production. This enables clients to attain zero emissions throughout the development and application of resources.
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Oriza Seed Capital (Oriza Yuandian)
VC Fund · Suzhou, Jiangsu, China · 28 investments in Asia Climate startups

Oriza Seed Venture Capital, located in Suzhou Industrial Park, is held by Suzhou Oriza Holdings Ltd. Oriza Seed is a market-oriented investment platform. It looks for investment opportunities among early-stage and growth-stage enterprises in the fields of Healthcare and TMT. Oriza Seed has ample resources and experiences investing in the healthcarefield. By late March 2016, Oriza Seed has invested in more than 50 healthcare companies, including Ascentage Pharma, Innovent Biologics, and SceneRay Corporation.

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Investment focus

  • Industry: Manufacturing, Health Care, Medical
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 149
  • Round size: Seed $213k–$25M; Angel $425k–$14M; Series A $1.4M–$60M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Youshu Quantum — Youshu Quantum is a deep-tech startup specializing in quantum computing software, middleware, and proprietary algorithms.
  • Jitian Xingzhou — Jitian Xingzhou is a commercial aerospace company that provides optical main payloads in batches as one of its primary operations.
  • Huihe Healthcare — Huihe Healthcare specializes in the development of medical devices for structural heart disease. The company was founded in 2019 and is headquartered in Shanghai, China.
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Yunqi Partners
VC Fund · Shanghai, Shanghai, China · 27 investments in Asia Climate startups, 32 in the past 12 months

Yunqi Partners sharpen its focus on technology empowered industries. Yunqi is systematically investing in digital transformation of industries and industrialisation of technologies covering areas such as cutting-edge technology, advanced manufacturing, IoT, SaaS and B2B supply chain.

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Investment focus

  • Industry: Artificial Intelligence, Software, Manufacturing
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 214
  • Round size: Seed $2.1M–$29M; Series A $4.3M–$30M; Series B $10M–$60M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $300M in 2021

Portfolio highlights

  • Demark — Demark Seiko is a domestic high-end parts supplier that primarily provides high-precision parts, medium and large parts, and functional structural components to firms in the photovoltaic, wind power, semiconductor, heavy industry, and other industries.
  • Feijiecos — Feijieke is a smart technology supplier that specializes in smart technology and offers intelligent solutions, such as smart hardware, software development, and system integration.
  • PoShell Robotics — PoShell Robotics is a general-purpose home robot, aiming to create a home-friendly and structurally stable robot.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 27 investments in Asia Climate startups, 29 in the past 12 months

Plum Ventures is a venture capital company that aims to encourage young people to become entrepreneurs. It specializes ins providing seed and early-stage investments in the technology, new media, and telecommunications industry. The firm was founded in May 2014 and is based in Changzhou, China.

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Investment focus

  • Industry: E-Commerce, Manufacturing, Software
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 231
  • Round size: Seed $1.4M–$10M; Angel $425k–$6M; Series A $1.4M–$28M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Zeta Fusion — Zeta Fusion operates within the technology promotion and application services industry.
  • DeepGate Transformation — DeepGate Transformation provides aerospace thermal products by using pyrolytic graphite technology.
  • Delta Intelligence Technology — Delta Intelligence Technology is a next-generation embodied intelligence company focused on integrating advanced artificial intelligence with physical systems to create machines that can perceive, learn, and act in the real world.
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Legend Capital
VC Fund · Beijing, Beijing, China · 27 investments in Asia Climate startups

Legend Capital, a subsidiary of Legend Holdings Ltd., started its vintage year in April, 2001 with a mission to become a top-notch and the most respected venture capital investment manager in China.Managing up to US$700 million across four funds, Legend Capital focuses on driving high-growth ventures with operations substantially based in Chinaor on markets related to China.Legend Capital mainly invests in early stage IT companies, specifically, in sectors of network applications and services, outsourcing and professional services, Infrastructure (IC design/key components), and mid-market growth stage companies in the fields of consumer goods, clean technology, health care, equipment manufacturing and modern services.Among over 60 portfolio companies are Joyo.com (acquired by Amazon.com), SinoCom (0299.HK), Solarfun Power (Nasdaq: SOLF), Spreadtrum Communications (Nasdaq: SPRD), China Sunshine Paper (2002.HK), and VanceInfo (NYSE:VIT), Eyang (0117.HK), etc.As an active investor, Legend Capital provides its portfolio companies extensive business resources and tailored services to assist with business development, company image building, and other critical company building activities on Chinese market so as to add value and maximize returns. Legend Capital is proud and thankful that it has the opportunity to blaze a trail with its innovative practice for China's venture capital industry.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 427
  • Round size: Series A $2.9M–$100M; Series B $12M–$115M; Series C $15M–$200M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $177M in 2021

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/7a5aSCUfnr https://t.co/x14hb3jO7O
  • Pony.ai — Pony.ai is a startup that builds full-stack autonomous driving solutions. It is a pioneer in autonomous mobility technologies and services across the US and China, spearheading public-facing Robotaxi pilots in both markets. Pony.ai is committed to creating a safe and sustainable mobility future by delivering autonomous mobility everywhere.Thecompany was founded by James Peng and Tiancheng Lou in 2016 and is headquartered in Fremont, California, United States.
  • Jinqirui Biology — Jinqirui Biology is a biotechnology company that focuses on the research and development, manufacturing, production & sales of vitro diagnostics equipment and reagents.
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Qianhai Fund of Funds
VC Fund · Shanzhen, Fujian, China · 27 investments in Asia Climate startups

Qianhai Fund of Funds is a fund management company that markets qualified investors in the private equity investment industry. Qianhai Fund of Funds comes from four types of LP's such as local governments, well-known companies, insurance financial institutions, and a number of listed companies and well-known corporate controllers. The fundmanagement party introduced at the press conference that the Qianhai Fund of Funds' overall investment strategy pursues low-risk, medium-to-high-yield, mainly based on high-quality venture capital, and private equity investment funds, supplemented by direct investment and short-term investment.Qianhai Fund of Funds was founded on 2015 and is headquartered in Shenzhen, China.

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Investment focus

  • Industry: Manufacturing, Health Care, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, Japan, Canada

Investor stats

  • Total investments: 159
  • Round size: Series A $1.4M–$63M; Series B $2.8M–$43M; Series C $14M–$126M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • LINKER — LINKER specializes in the algorithm research of digital audio and video technology.
  • Wuxi Fio Technology — Wuxi Fio Technology is a national high-tech enterprise specializing in the research and development and production of automotive-grade pressure sensors.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 27 investments in Asia Climate startups

"Founded in 2009, GSR United Capital focuses on equity investment in high-tech industries, focusing on investment and M&A opportunities in advanced manufacturing, next-generation information technology, industrial Internet/digital enterprise services and other fields. GSR United Capital manages both RMB master funds and industrialfunds established with local governments. Since its establishment, GSR United Capital has received strong support from China's top market-oriented mother fund, government-guided fund, wealth management institutions, global 500 enterprises, listed companies and other institutions. Among them, investors with state capital background include Guochuang Yuanhe, Guochuang Kaiyuan, SDIC Unity Capital, China Merchants Venture, Suzhou Fund, Nanchang Industrial Control, Weifang Financial Holding Group, Dongguan Dongcheng, Zhangjiagang Jincheng Investment & Development Co., ltd, etc. Suzhou GSL Venture Capital Management Company, founded in 2011, is a private equity fund manager of the comprehensive fund of GSR United Capital (referred to as "" GSR United Capital ""), and completed the registration of private equity fund manager on May 20, 2014, with the serial number P1002246.""A+ stage is the main stage, the middle and late stage is the auxiliary"" The company focuses on equity investment in high-tech industry, focusing on the strategy of ""A+"" stage, with a capital allocation ratio of 60%. The project in this stage is between ""engineering"" and ""scale commercialization"", which is the ideal range of ""bargaining power"" and can win a high proportion of relative returns. At the same time, 40% of the project will be allocated in the middle and late stages. The middle and late stages refer to enterprises with IPO expectations within 2-3 years, and the investment will be completed within 60 months in the early stage of the fund investment period (exit will start in the third and fourth years), which will be used as the basic plate for anchoring returns.GSR United Capital has invested in more than 100 high-tech start-ups, including Great Wisdom Software (financial information terminal, 601519), eCARBON (high thermal conductivity graphite heat dissipation material, 603133), TZTEK (Precision, 688003), METRON (Diamond wire material, 603133) 300861), GTEP (sludge treatment and recycling, has started the board meeting), Niu (electric two-wheeler, NASDAQ: NIU), LATTICELIGHTING (LED silicon substrate technology and application), Freetech (unmanned driving), Marknum Technology (big data), xMate (light collaborative robot), TAGEIDRIVER (autonomous driving), HUIRUI (high-precision metal 3D printing), DYSO (CNC machine tool parts), NEWLINK GROUP (energy Internet), and many cross-border enterprises Industries such as LianLian (online payment), Xingyun Group (cross-border supply chain), Tec-Do (outbound brand digital marketing, Guangzhou), LAVA (smart guitar, Guangzhou), Shoplazza (outbound SaaS independent site construction tools, Guangzhou), E-ports (Internet for shipping industry), Chenhaiyun (sea-going compliance), Whalehouse.tech (intelligent warehousing), Huoyan (ABM intelligent marketing), Giiso (intelligent writing) and other excellent projects, which have won excess investment returns and social reputation. At present, the withdrawn projects include Great Wisdom Software (Financial information terminal, 601519), which has been fully withdrawn through listing, with return multiple reaching 8.96x, invested by GSR United Capital Phase I; TZTEK (Precision Measurement, 688003.STAR), fully exited through listing with return multiple reaching 2.74x, invested by GSR United Phase II and Botong Jinshi; eCARBON (high thermal conductivity graphite heat dissipation material, 603133), through the listing of all exit, return multiple reached 5x, invested by GSR United Capital Phase I Institute; METRON (Diamond Wire Materials, 300861), which was partially exited through listing with a return multiple of 4.5X and was invested by GSR United Phase III and Botong Jinshi Institute; Lebo Technology (cross-platform screen investment tool), partially exited through equity transfer, with a return multiple of 4.35x, invested by Botong Jinshi. Giiso (Intelligent Collaboration), which was partially withdrawn through equity transfer with a return multiple of 4.35x, was invested by Botong Jinshi.Zerowaste Asia Pte Ltd (ZA) was invested by Hongcheng RMB Fund, a subsidiary of GSR United Capital, in January 2017. It is committed to developing, producing and selling leading additives for heavy metal treatment. Its products have the characteristics of simple process, high efficiency, safety and environmental protection, and low cost. The company's valuation has grown from $58 million at the time of the investment to $142 million.Since February 2020, GSR United Capital has made more than 30 investments in the main fund. For example, it invested in Yuejing Technology (audio and video collaborative production tool) in February 2021, and the current multiple has reached 3.14 times. In September 2020, it invested in ZHICHUBAO.COM (procurement management SaaS platform), and the current multiple has reached 2.82 times. In April 2020, it invested in Starsee Intelligence (AI enabled military defense), and the current multiple has reached 2.81 times. Nahuo Technology Co., Ltd. received a subsequent round of investment from IDG, ZHICHUBAO.COM received a subsequent round of investment from Shunwei Capital, and Boqing Technology received a subsequent round of investment from KeyTone Ventures and Leaguer Capital."

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Investment focus

  • Industry: Manufacturing, Robotics, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 148
  • Round size: Seed $98k–$14M; Series A $353k–$30M; Series B $789k–$50M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • PhotoG — PhotoG is an international GenAI content marketing tool supplier. It operates in the fields of overseas content marketing and generative AI, with a focus on visual content development and e-commerce brand marketing.
  • Dewu Additive — Dewu Additive is a high-tech company at the forefront of 3D printing innovation, specializing in developing cutting-edge additive manufacturing solutions. The company focuses on creating advanced 3D printing technologies and materials for a wide range of industries, including aerospace, automotive, healthcare, and manufacturing.
  • Squirrel Power — Squirrel Power is an emerging Chinese electric vehicle brand that is rapidly gaining attention for its innovative designs, sustainable technologies, and commitment to making electric mobility more accessible to a wider range of consumers.
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UntroD Capital
VC Fund · Sumida, Tokyo, Japan · 27 investments in Asia Climate startups, 14 in the past 12 months

UntroD Capital is an R&D-based innovative technology that specializes in social implementation.

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Investment focus

  • Industry: Manufacturing, Biotechnology, Health Care
  • Stage:Seed, Series A
  • Geography: Japan, Singapore, Austria

Investor stats

  • Total investments: 138
  • Round size: Seed $772k–$28M; Series A $2.3M–$90M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • CastBio — Castbio specializes in antibody-drug conjugate-based drug discovery research and development. Along with medications, it also creates research reagents, medical equipment, in vitro diagnostic items, and offers drug discovery consulting.
  • Eco-Pork — Eco-Pork is a co-creation solution farm that supports farmers' food productivity improvement. It is connecting the pig and technology, pork ( Pork ) new business ecosystems ( Ecosystem By building a), in the pork growing demand around the world, to get the most out of the food supply capacity is finite.
  • IGrid Solutions — IGrid Solutions will promote “eDCM” to optimize power energy demand.
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ZSVC
VC Fund · Beijing, Beijing, China · 26 investments in Asia Climate startups, 18 in the past 12 months

ZSVC is a Chinese venture capital firm specialized in seed and early stage investments.

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Investment focus

  • Industry: Manufacturing, Medical, Health Care
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, India

Investor stats

  • Total investments: 143
  • Round size: Seed $1.4M–$4M; Series A $1.4M–$21M; Series B $2.8M–$85M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Tpson — Tpson is a Smart Hardware company.
  • Ounuo Semiconductor — Ounuo Semiconductor is a manufacturing company that provides research and development of semiconductor equipment.
  • HUAXI Technology — HUAXI Technology is a global leader specializing in the development and delivery of comprehensive, high-end smart elderly care solutions. By integrating advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and big data analytics, the company is dedicated to enhancing the quality of life for seniors worldwide.
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Frees Fund
VC Fund · Beijing, Beijing, China · 26 investments in Asia Climate startups

By adopting revolutionary mechanisms, FREES FUND is devoted to change the long-established rules in the venture capital. By leveraging the cutting-edge technologies and resources, FREES FUND aims at investing in great startups and helping them grow into great enterprises that are valuable to our society. We mainly invest in early-stagestartups, and hope to become their first-round institutional investor. Our primary interested areas are broad-sense TMT (Technology, Media, Telecom), B2B and deep technology.

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Investment focus

  • Industry: Artificial Intelligence, Health Care, Biotechnology
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 216
  • Round size: Seed $1.4M–$14M; Angel $425k–$14M; Series A $1.4M–$35M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • SoundAI — Sound Technology is a science and technology innovation company that specializes in acoustics frontier technology and artificial intelligence interaction. It is committed to lead the more interactive experience of artificial intelligence in the real environment and realize the human-computer interaction vision that "listen to you and know whatyou think".
  • Chuguang 3D — Chuguang 3D is a optical micro-nano 3D sensor technology platform that focuses on research and development, and manufacturing of micro-nano-level optical three-dimensional sensing and measurement and testing instruments.
  • Mask Network — Your Portal To The New, Open Internet.
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SND Ventures Group
VC Fund · Suzhou, Jiangsu, China · 25 investments in Asia Climate startups, 11 in the past 12 months

SND Ventures Group is a venture capital and private equity firm specializing in seed investments.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China

Investor stats

  • Total investments: 84
  • Round size: Series A $1.4M–$21M; Series B $1.4M–$28M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Ruiqi Deep Space — Ruichi Deep Space is an intelligent remote sensing constellation company built on space-based capabilities and driven by AI , aiming to construct a " commercial aerospace" platform.
  • Jipai Electromagnetic — Jipai Electromagnetic specializes in the manufacture of automobile components and accessories.
  • Sicui Thermal Control — Sicui Thermal Control focuses on the design of next-generation semiconductor and microelectronics thermal management solutions.
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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 25 investments in Asia Climate startups, 40 in the past 12 months

Tsinghua Capital is an investment firm.

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Investment focus

  • Industry: Manufacturing, Artificial Intelligence, Biotechnology
  • Stage:Seed, Angel, Series A
  • Geography: China, Australia

Investor stats

  • Total investments: 96
  • Round size: Seed $1.4M–$74M; Angel $425k–$15M; Series A $2.3M–$18M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Shenxin Technology — Shenxin Technology focus on the development of implantable brain-computer interface chips and related technologies.
  • Easy Hydrogen Power — YiHydrogen Energy focuses on innovative aviation energy power systems.
  • Guoke Superconducting Technologies — Guoke Superconducting Technologies is a pioneering deep tech startup specializing in advanced high temperature superconductivity that focuses on mass producing next generation iron based and MgB₂ superconducting wires and tapes. Its cutting edge materials deliver critical solutions tailored for strategic, high value sectors including controllablenuclear fusion, advanced medical equipment, and quantum communication.
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Seeds Capital
VC Fund · Singapore, Central Region, Singapore · 25 investments in Asia Climate startups

Catalysing smart monies into Singapore-based, early-stage technology startups.

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Investment focus

  • Industry: Biotechnology, Artificial Intelligence, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Singapore, United States, Hong Kong

Investor stats

  • Total investments: 146
  • Round size: Seed $767k–$6M; Series A $2.4M–$21M; Series B $5M–$45M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Pints AI — Unlock global and private financial data with AI like never before.
  • ChemT Biotechnology — The goal of ChemT Biotechnology is to increase patient access to the most cutting-edge biologics, beginning with the urgent issues in manufacturing and research and development.
  • Protuoso Biosciences — Protuoso Bio is a pioneering biotechnology company developing Next-Gen MUXBODIES for Complex Diseases. We leverage AI-driven protein engineering and synthetic biology to advance innovative oncology drug research.
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Hefei Industry Investment Group
VC Fund · Hefei, Anhui, China · 25 investments in Asia Climate startups

Hefei Industry Investment Group is an industrial investment and financing company.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Series A, Series B, Seed
  • Geography: China, Israel

Investor stats

  • Total investments: 90
  • Round size: Series A $7.9M–$101M; Series B $14M–$295M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Xinming — Xinming is a high-tech enterprise focusing on spatial computing and artificial intelligence chip and product design.
  • Listenai — Listenai is an enterprise that provides AI chips and industry solutions for the field of artificial intelligence and the Internet of Things.
  • Surgerii Technology — Beijing Surrey is a technology company founded by an industry elite active in China's medical equipment. Relying on the core technology of the new generation of flexible continuum robotic arm, running through the implementation paradigm of many types of clinical minimally invasive surgery, and harnessing the powerful system design andintegration capabilities, Beijing Shurui is committed to becoming the first independent independent research and development, production and sales in China.
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SOSV
VC Fund · Princeton, New Jersey, United States · 25 investments in Asia Climate startups, 75 in the past 12 months

SOSV is a global, deep tech venture capital firm that operates the HAX and IndieBio startup development programs focused on human and planetary health. SOSV invests $500,000 in startups at their inception as they onboard either HAX or IndieBio for a 4-6 month period designed to accelerate the raise of their next institutional round. SOSV joins thelater rounds of HAX and IndieBio graduates. HAX, based in a 35,000 sq ft facility in Newark, NJ, is equipped with machine tools, 3D printers, chemical, electrical and mechanical engineering labs, as well as on-staff engineering and design experts. SOSV's IndieBio has locations in NYC and San Francisco, both of which offer extensive services and facilities to founders including on-site BSL-2 labs, well equipped lab benches and hoods, and advanced lab equipment, such as chromatography equipment.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1482
  • Lead/follow: no public data

Portfolio highlights

  • MixRift — MIXRIFT - game developers specialized in Mixed Reality
  • unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
  • Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.
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China Fortune-Tech Capital
VC Fund · Shanghai, Shanghai, China · 25 investments in Asia Climate startups, 31 in the past 12 months

China Fortune-Tech Capital Co., Ltd. (“CFTC”) was found in February 2014 in Shanghai, China. The company was incorporated by SMIC, mainland China’s most advanced pure play semiconductor foundry, and a senior investment team along with other shareholders. CFTC’s investments focuse on IC industry including semiconductor materials and electronicmaterials, IC design, equipment, IP, services and tools. Its investment philosophy emphases on professional, international and industrial Chain-focusing.Their ur core team consist IC and Telecommunication industry entrepreneurs with more than 20-year experiences in enterprise management and investment. Besides the strong supports from the shareholders, CFTC invites the most active and prestigious experts, who come from IC leading company, IC industry association and financial institutions to form an advisor board.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Series A, Series B, Seed
  • Geography: China

Investor stats

  • Total investments: 98
  • Round size: Series A $14M–$155M; Series B $14M–$213M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Zhixin Sensing — Zhixin Sensing is a MEMS chips manufacturing company that develops MEMS pressure sensors and MEMS micromirrors.
  • Boschip Technology — Boschip Technology is a silicon lifecycle management company that provides hardware and software integrated solutions.
  • Aixin Semiconductor Technology — Aixin Semiconductor Technology specializes in the research and development, manufacturing, and sales of semiconductor front-end measurement and testing equipment. It has a production plant of more than 1,000 square meters in Shenzhen, including a thousand-level assembly and commissioning clean room, and a hundred-level, and ten-level laboratoryclean room.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 24 investments in Asia Climate startups

Supporting the next generation of entpreneurs in enterprise, healthcare, and consumer with disruptive potential.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 274
  • Round size: Seed $1.3M–$100M; Series A $4.3M–$67M; Series B $11M–$62M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: Likely still investing — raised $375M in 2021

Portfolio highlights

  • Flytech — Flytech specializes in crystal materials and related components for magneto-optical-electrical integrated signal processing.
  • Moge Microflow — Moge Microflow is a manufacturer of equipment for microreactors. It provides continuous flow production technologies and equipment for nanomaterials, pharmaceutical intermediates, and fine chemicals, as well as standardized high-end microreactor equipment.
  • Bianzhong New Materials — Bianzhong New Materials is a high-tech company that specializes in the research and development of equipment for weaving and shaping three-dimensional preforms of high-strength fiber composite materials.
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Zhuoyuan Capital
VC Fund · Shenzhen, Guangdong, China · 24 investments in Asia Climate startups

Zhuoyuan Capital providing financial advisory and investment services based on corporate development and capital operations.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Artificial Intelligence
  • Stage:Seed, Series A, Series B
  • Geography: China, United States

Investor stats

  • Total investments: 89
  • Round size: Seed $1.4M–$40M; Series A $1.6M–$41M; Series B $14M–$43M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Yuanhao Power — The primary focus of Yuanhao Power, an AI native technology developer, is the creation of fifth-generation multimodal 4D world model base models. It creates a cohesive model system that encompasses dynamic environment reconstruction, generation, simulation, and intelligent agent training, and it encourages its use in applications like autonomousdriving, medical procedures, games and movies, and embodied intelligence. For the era of physical AI, it is dedicated to developing a universal world model base.
  • Lynxi Technology — Lynxi Technology develops brain-like chips, modules, computing boards and servers, supporting software toolchains, and system software.
  • Lightweight Manufacturing — The objective of Lightweight Manufacturing is to provide small and medium-sized enterprises with "lightweight," decentralized, and scaled-down manufacturing tools.
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Hua Capital
VC Fund · Beijing, Beijing, China · 24 investments in Asia Climate startups, 31 in the past 12 months

Hua Capital Management Co., Ltd is organized and founded by an experienced semiconductor industry investment team with Tsinghua Holdings Co., Ltd. and China Fortune-Tech Capital Co., Ltd. Its investments focuses on the semiconductor industry and related areas. Hua Capital emphases on professional, international and industrial Chain-focusinginvestment philosophy. Their team consists of semiconductor industry entrepreneurs from both home and abroad and the core members of most active semiconductor funds, all of whom have more than 20 years’ experience in semiconductor industry entrepreneurship, management and investing. Hua Capital, by availing itself of its all-in specialized experience and industry leadership, will help increase the targeted portfolio companies’ value and synergy to enable them to be the leaders in the semiconductor industry.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Seed, Series A, Series B
  • Geography: China, United States

Investor stats

  • Total investments: 84
  • Round size: Seed $14M–$74M; Series A $8.2M–$143M; Series B $4.7M–$145M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Zhiyou Wujie — Zhiyou Wujie will develop specialized robots for ship painting, cleaning, and container interior space planning, based on a general-purpose large model.
  • Squirrel Power — Squirrel Power is an emerging Chinese electric vehicle brand that is rapidly gaining attention for its innovative designs, sustainable technologies, and commitment to making electric mobility more accessible to a wider range of consumers.
  • Tingxiang Technology — Tingxiang Technology is a provider of machine auditory artificial intelligence technology solutions, specializing in cutting-edge intelligent speech augmentation and voice interaction solutions that provide a more natural human-computer interface.
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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 24 investments in Asia Climate startups

Oriza Holdings is a Chinese management fund that covers equity, debt financing, and investment since 2007.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 205
  • Round size: Series A $1.7M–$55M; Series B $10M–$100M; Series C $14M–$200M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • ChipSine — ChipSine is an Integrated Circuit (IC) design company that focuses on the research and development of automotive-grade electronic control chips.
  • Empower — Empower is an enterprise platform focused on intelligent laser manufacturing that makes lasers smart.
  • Neowise — XinjingZhiyuan is an immune cell therapy company focusing on solid tumors.
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Vertex Ventures China
VC Fund · Beijing, Beijing, China · 23 investments in Asia Climate startups

Vertex Ventures China invests in high-growth internet and technology start-ups across mainland China, and provides funding support and value-add services to portfolio companies in their growth stage. Based in Beijing and Shanghai, Vertex Ventures China collaborates with the Vertex network of ventures funds across US, Israel, Southeast Asia, andIndia, and under auspices of Vertex Holdings providing local knowledge with global perspective.

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Investment focus

  • Industry: Manufacturing, Artificial Intelligence, E-Commerce
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 185
  • Round size: Seed $3M–$30M; Series A $1.6M–$47M; Series B $10M–$93M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • ArrayComm — ArrayComm LLC provides multi-antenna signal processing software for wireless systems. The company offers software for wireless client devices and infrastructure equipment to improve subscriber experiences and radio network economics through gains in coverage, client data rates, and capacity in base stations, client devices, and MIMO architectures.Its software is implemented on W-CDMA, HSDPA, WiMAX, PHS, GSM, and HC-SDMA networks in Australia, South Africa, China, Taiwan, Japan, the Philippines, Thailand, and the Middle East.
  • Haici Technology — Haiui Health Technology is a mobile platform for hospitals to connect patients, optimise hospital visits and streamline admin workflow.
  • AnHeart Therapeutics — AnHeart Therapeutics is a developer of innovative pharmaceutical products. The company is focused on acquiring, developing and commercializing innovative pharmaceutical products that improve human health and quality of life. It's main research product, AB-106, is an oral, highly selective ROS1/NTRK small molecule inhibitor.
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Glory Ventures
VC Fund · Shanghai, Shanghai, China · 23 investments in Asia Climate startups

Glory Ventures is a cross-border venture capital fund established by a new generation of investors with a global perspective. Already achieving excellent performance, the investment team has plentiful experience in both China and Israel's high-tech and venture capital industries. The unique advantages by which Glory Ventures distinguishesitself from other domestic venture capitalists lie in the fact that it is a research-driven VC that realizes the value of an entire industrial value chain. They integrate industrial resources from the private equity markets and public-listed companies to build strategic synergy. They deliberate exits by both M&A and IPO, taking into consideration both opportunities. Thus, they strive to build an ecosystem across various industries through investment in specific value-chains and providing value-added services that lead to synergetic exits. With a clear multi-industrial positioning backed by their professional and outstanding investment team, Glory Ventures has been highly recognized by Chinese first-class investors and has won the strategic investments of famous organization such as Banyan Capital, major shareholders from various A-share listed companies, founding team of Dianping.com, and many others, making it a top-tier investment ecosystem combining early-stage venture capital investment and the integration of high-end entrepreneurs and industrial resources. Currently, Glory Ventures invests actively in Israel and China, but their global vision encompasses much more. In Israel, Glory Ventures invests in customer-proved, disruptive innovative companies which are synergistic with China’s enormous consumer market, including companies in the field of intelligent hardware, IoT, AI, computer vision. In China, Glory Ventures invests in subsectors such as B2B enterprise service, consumption upgrade, and IoT. Their portfolio includes 20+ stellar companies in the fields of AI, IoT, Fintech and consumption upgrade, over half of which have won the follow-up investment from the industrial capital and famous funds like HTC, Quanta Computer, Alibaba, Shanda Networks, Wind, Crystal Optoelectronics, Join-In Group, and Fortune Capital.

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Investment focus

  • Industry: Artificial Intelligence, Software, Manufacturing
  • Stage:Series A, Seed, Series B
  • Geography: China, Israel, United States

Investor stats

  • Total investments: 102
  • Round size: Seed $3M–$14M; Series A $7.1M–$126M; Series B $14M–$251M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Kongshanci — Kongshanci specializes in non-invasive brain-computer interfaces and neuromodulation.
  • Botai Automation — Botai Automation is specialized in CNC system research and development. Its CNC system can be used in machine tools, including drilling and tapping machines, turning and milling compound machining centers and their control accuracy, stability, and performance outperform earlier products of the same type.
  • SPARO Technology — SPARO Technology is a state-of-the-art company that specializes in general airborne intelligence.
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China Capital Management
VC Fund · Beijing, Beijing, China · 23 investments in Asia Climate startups, 28 in the past 12 months

China Capital Management is a direct investment business institutions for securities companies.

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Investment focus

  • Industry: Manufacturing, Aerospace, Semiconductor
  • Stage:Series A, Series B, Series C
  • Geography: China

Investor stats

  • Total investments: 83
  • Round size: Series A $7.4M–$55M; Series B $457k–$28M; Series C $678k–$283M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • BoPixel — BoPixel is a supplier of high-performance machine vision core components, stable, reliable and machine vision products for global customers.
  • Xingchen New Energy — Xingchen New Energy develops new generation of ultra-high-performance all-vanadium flow energy storage system, fully covering electrolyte, stack and core R&D, manufacturing and production of components, energy storage systems and other products, and provide safer comprehensive energy storage solutions.
  • Bodun Optoelectronics — Bodun Optoelectronics is an innovative high-tech enterprise specializing in the research and development of key technologies of new ion sources and the design and manufacturing of complete equipment. The company's core team has the top domestic professional technology R&D and design capabilities in the fields of optoelectronic technologyand micro-nano processing high-end equipment manufacturing. At present, it has reached strategic partnerships with well-known universities and scientific research institutions such as the Chinese Academy of Sciences, Beijing Institute of Technology, Peking University, Jinan University, and China-Israel Science and Technology Innovation Center, forming a powerful industry-university-research organization.
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ZhenFund
VC Fund · Beijing, Beijing, China · 23 investments in Asia Climate startups

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 800 portfolio companies, including over 30 unicorns based in China. Webelieve that great businesses start with exceptional founding teams. We are dedicated to helping our entrepreneurs build successful companies by providing them with mentorship and the best resources available. Some of our services include biannual demo days to top Chinese VCs, ZhenHR services, marketing and PR consulting, as well as fundraising. Our strong and large CEO network also facilitates entrepreneurs helping each other, especially via our WeChat platform. ZhenFund has been ranked as the “#1 Early-Stage Investment Firm” for six years. Bob Xiaoping Xu, Founder of ZhenFund, has been named on the Midas List since 2016 and ranked #11 in 2019. Anna Fang, Founding Partner and CEO of ZhenFund, has been named on the Midas List since 2019 and made her 4th appearance as #12, and #1 on Midas Seed List in 2022.

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Investment focus

  • Industry: Artificial Intelligence, Software, E-Commerce
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 394
  • Round size: Seed $650k–$20M; Angel $425k–$21M; Series A $1.4M–$23M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: Likely still investing — raised $130M in 2022

Portfolio highlights

  • Ehang — Ehang is a technology enterprise focused on R&D and production in airplane and aircraft field. With the combination of software and hardware techniques, it self-developed the communication and real-time viewing hardware and a smartphone operation system. Its product, Ghost, is accepted as the first truly smartphone app operated intelligentrobot, which is widely used in geographical information surveying, professional television aerial filming, roadshow displaying, disaster rescuing and delivery, surveillance and monitoring, and even expected to play important role in the future logistics areas.Ehang was founded in 2014 by makers from China, America, and Singapore who are enthusiastic about drone flying. The enterprise’s core members graduated from Tsinghua University, Peking University, and Duke University in America.
  • ImageDT — ImageDT is a Enterprise services company.
  • Futuring Robot — Futuring Robot is a developer of dual-arm home service robots focusing on C-end home scenarios.
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Hefei Innovation Investment
VC Fund · Hefei, Anhui, China · 22 investments in Asia Climate startups, 18 in the past 12 months

Hefei Venture Capital is committed to promoting the development of scientific and technological innovation-oriented enterprises.

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Investment focus

  • Industry: Manufacturing, Industrial, Advanced Materials
  • Stage:Series A, Series B, Seed
  • Geography: China

Investor stats

  • Total investments: 51
  • Round size: Series A $7.9M–$122M; Series B $14M–$200M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Juhe Fusion — Juhe Fusion operates at the cutting edge of clean energy by developing next-generation Field-Reversed Configuration (FRC) magnetic confinement technology. It rapidly captured global industry attention after securing a massive seed and angel funding round backed by tier-one venture firms, including Hillhouse Capital, HongShan, and regionalgovernment investment funds. Unlike traditional, massive tokamak reactors, Juhe Fusion aims to leverage its compact FRC architecture to accelerate the commercial timeline and economic viability of fusion energy.
  • Han Hydropower — Han Hydropower is a hydroelectric technology company that specializes in the research and development of aerospace and hydrogen energy power systems.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
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China Merchants Venture Capital
VC Fund · Shenzhen, Guangdong, China · 22 investments in Asia Climate startups, 6 in the past 12 months

China Merchants Capital is engaged in alternative investment and asset management.

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Investment focus

  • Industry: Manufacturing, Automotive, Internet
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 169
  • Round size: Series A $1.4M–$74M; Series B $2.8M–$177M; Series C $14M–$132M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Euler Universal — Euler Universal is a technology startup focused on the study and development of embedded smart home technologies.
  • Shengqiang Technology — Shengqiang Technology is an autonomous, innovative high-tech firm that combines R&D, manufacturing, and commercialization. It has adhered to its development strategy of being a leader in pathology digitalization, a creator of pathology information, an integrator of pathology intelligence, and an advocate for functional pathology from itsinception.
  • Hangzhou Xynova Technology Co. — Hangzhou Xynova Technology Co. develops robotic components, including dexterous hands, rotary actuators, and linear actuators.
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ZGC Group
VC Fund · Beijing, Beijing, China · 22 investments in Asia Climate startups, 12 in the past 12 months

ZGC Group was established in 2010. With a consistent mission of serving innovation-driven development, it has been committed to building an open and shared ecosystem pooling innovation factors. To promote the transformation and industrialization of sci-tech achievements, it deploys innovative resources across the world by means of buildinghigh-tech parks, making investments, providing funding and professional services and etc. It now has become an integral part of Zhongguancun innovation and entrepreneurship ecosystem.

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Investment focus

  • Industry: Manufacturing, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 87
  • Round size: Seed $283k–$46M; Series A $1.4M–$16M; Series B $2.8M–$85M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • AutoAgents — AutoAgents is committed to offering software services for intelligent assistants (Copilot) and autonomous agents (AI Agents) through AI.
  • Yuequan Bionics — Yuequan Bionics specializing in bionic sports intelligence, bionic health systems and equipment, and humanoid robots.
  • Juhai Hengchuang — Juhai Hengchuang is a medical device manufacturer that exclusively sells and manufactures drug testing equipment.
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ANRI
VC Fund · Tokyo, Tokyo, Japan · 21 investments in Asia Climate startups

ANRI is a Japanese venture capital firm that mainly invests in seed and early-stage startups.

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Investment focus

  • Industry: Software, Medical, Health Care
  • Stage:Seed, Series A
  • Geography: Japan, United States, Indonesia

Investor stats

  • Total investments: 269
  • Round size: Seed $413k–$19M; Series A $2.3M–$41M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • Any Style — Any Style develops a messaging app from voice actors that regularly sends messages via subscription. It also engages in the planning and production of audio content and the VTuber production business.
  • Chaintope — Chaintope is specializes in blockchain technology with a focus for FinTech and non-FinTech sectors.
  • Smile Robotics — Smile Robotics provides Service Robots in Japan.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 21 investments in Asia Climate startups

Gaorong Capital is a venture capital firm that focuses on early and growth stage investments in TMT, including AI and frontier technologies.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 291
  • Round size: Seed $4.1M–$62M; Series A $2.8M–$75M; Series B $14M–$110M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • Genta Kyushu Bio — Genta Kyushu Bio is a cutting edge biotechnology company specializing in the development of precision neuro circuit therapies for central nervous system and ophthalmic diseases. The firm leverages its high throughput screening and drug development platforms to advance innovative treatments utilizing chemogenetics, optogenetics, and gene therapies.
  • Cascade — Cascade produces novel medications that target nuclear receptors for treating metabolic disorders and inflammation.
  • Mochi Intelligence — Mochi Intelligence is a high-tech enterprise specializing in the research and development of embodied intelligent robots. The company is committed to creating intelligent robots including humanoid robots that can truly understand and adapt to the real world through cutting-edge artificial intelligence technology and robotics.
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