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Top 50 Energy Startup Investors in China (October 2026)

The most active venture capital funds and angel investors investing in China Energy startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Energy startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Shunwei Capital
VC Fund
20 China, United States, India Series A, Series B, Seed Manufacturing, Software, Artificial Intelligence $1M–$74M
Qiming Venture Partners
VC Fund
19 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $4.3M–$120M
Cowin Capital
VC Fund
19 China, United States, Hong Kong Series A, Series B, Seed Manufacturing, Health Care, Semiconductor $1.4M–$51M
HSG
VC Fund
19 China, United States, Singapore Series A, Series B, Seed Artificial Intelligence, Software, Health Care $2M–$200M
Addor Capital
VC Fund
18 China, Hong Kong, United States Series A, Series B, Venture - Series Unknown Manufacturing, Semiconductor, Electronics $1.4M–$145M
K2VC
VC Fund
17 China, United States, Hong Kong Angel, Series A, Seed E-Commerce, Manufacturing, Software $417k–$25M
Matrix Partners China
VC Fund
15 China, United States, Singapore Series A, Series B, Seed Health Care, Software, Information Technology $1.4M–$137M
GSR United Capital
VC Fund
12 China, United States, Singapore Series A, Seed, Series B Manufacturing, Information Technology, Automotive $450k–$50M
CDH Investments
VC Fund
12 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $2.9M–$220M
Oriental Fortune Capital
VC Fund
11 China, United States, Hong Kong Series A, Series B, Seed Manufacturing, Software, Artificial Intelligence $1.5M–$100M
Shenzhen Capital Group
VC Fund
11 China, United States, Japan Series A, Series B, Seed Manufacturing, Health Care, Software $1.4M–$141M
Tsinghua Capital
VC Fund
11 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Robotics $436k–$74M
Fortune Venture Capital
VC Fund
11 China, Japan, United States Series A, Series B, Seed Manufacturing, Information Technology, Software $462k–$73M
SOSV
VC Fund
10 United States, China, Canada Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software $50k–$5M
Dongfang Jiafu
VC Fund
10 China Series A, Seed, Series B Manufacturing, Semiconductor, Information Technology $14M–$100M
Plum Ventures
VC Fund
10 China, United States, Hong Kong Series A, Angel, Seed Manufacturing, E-Commerce, Software $437k–$28M
Innoangel Fund
VC Fund
10 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$29M
ZSVC
VC Fund
9 China, United States, India Series A, Seed, Series B Manufacturing, Medical, Health Care $1.4M–$84M
Lenovo Capital
VC Fund
9 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.4M–$150M
China Merchants Venture Capital
VC Fund
8 China, United States, India Series A, Series B, Series C Manufacturing, Automotive, Internet $1.5M–$177M
Puhua Capital
VC Fund
8 China, United Kingdom, United States Series A, Series B, Seed Manufacturing, Health Care, Medical $1.5M–$103M
IDG Capital
VC Fund
8 China, United States, Singapore Series A, Series B, Seed Internet, Software, E-Commerce $600k–$110M
SZHTI Group
VC Fund
8 China, Canada, United States Series A, Angel, Series B Manufacturing, Electronics, Health Care $425k–$16M
TopoScend Capital
VC Fund
8 China, Hong Kong Series A, Seed, Series B Manufacturing, Software, Medical $441k–$149M
Delian Capital
VC Fund
8 China, United States, France Series A, Seed, Series B Biotechnology, Manufacturing, Health Care $1.5M–$50M
Fresh Capital
VC Fund
8 China, Germany Series A, Series B, Seed Energy, E-Commerce, Artificial Intelligence $1.6M–$211M
Gaorong Capital
VC Fund
8 China, United States, Singapore Series A, Series B, Seed Artificial Intelligence, Information Technology, Software $1.6M–$110M
Hefei Industry Investment Group
VC Fund
8 China, Israel Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $9.6M–$295M
Zhaoxi Capital
VC Fund
7 China, Australia Series A, Series B, Venture - Series Unknown Manufacturing, Solar, Energy $5.5M–$219M
Fenghe Capital
VC Fund
7 China, Germany, Singapore Series A, Seed, Series C Battery, Manufacturing, Energy Storage $3.3M–$638M
DT Capital Partners
VC Fund
7 China, United States, South Korea Series A, Series B, Series C Health Care, Medical, Biotechnology $1.5M–$102M
Legend Capital
VC Fund
7 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $2.9M–$200M
Future Capital Discovery Fund
VC Fund
7 China, United States, Singapore Seed, Angel, Series A Artificial Intelligence, Software, Information Technology $228k–$20M
NIO Capital
VC Fund
7 China, United States, Germany Series A, Series B, Series C Manufacturing, Automotive, Energy $1.6M–$270M
Winreal Investment
VC Fund
7 China, Finland Series A, Series B, Seed Manufacturing, Information Technology, Automotive $2.8M–$107M
ZhenFund
VC Fund
7 China, United States, Singapore Seed, Series A, Angel Artificial Intelligence, Software, E-Commerce $121k–$22M
Oriza Holdings
VC Fund
6 China, United States, Canada Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.5M–$100M
Haiyuan Capital
VC Fund
6 China Series A, Seed, Angel Manufacturing, Medical, Semiconductor $432k–$15M
Summitview Capital
VC Fund
6 China, United States Seed, Series A, Series B Manufacturing, Electronics, Semiconductor $412k–$165M
Nanotrend Capital
VC Fund
6 China Seed, Series A, Angel Energy, Robotics, Aerospace $1.4M–$43M
Taiyou Fund
VC Fund
6 China, United States Angel, Seed, Series A Manufacturing, Information Technology, Electronics $152k–$14M
Shenzhen Guozhong Venture Capital Management
VC Fund
6 China Series A, Series B, Seed Manufacturing, Health Care, Medical $441k–$100M
Source Code Capital
VC Fund
6 China, United States, Singapore Series A, Series B, Series C Artificial Intelligence, Software, E-Commerce $1.5M–$200M
Keyuan Industry Fund
VC Fund
6 China, United States Series A, Seed, Series B Manufacturing, Biotechnology, Biopharma $12M–$211M
Hefei Innovation Investment
VC Fund
6 China Series A, Series B, Seed Manufacturing, Industrial, Advanced Materials $1.4M–$200M
Shenzhen Small & Medium Enterprises Credit Financing Guarantee Group
VC Fund
6 China Series A, Seed, Series B Manufacturing, Advanced Materials, Battery $140k–$130M
Linear Capital
VC Fund
6 China, Singapore, United States Seed, Angel, Series A Artificial Intelligence, Software, Manufacturing $1.4M–$122M
Yunze Capital
VC Fund
6 China Seed, Series A, Venture - Series Unknown Manufacturing, Semiconductor, Electronics $1.4M–$185M
China Merchants Zhiyuan Capital
VC Fund
6 China Seed, Series A, Series B Manufacturing, Energy, Semiconductor $1.4M–$185M
ZGC Group
VC Fund
6 China, United States, United Kingdom Series A, Seed, Series B Manufacturing, Artificial Intelligence, Information Technology $283k–$85M
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Investor list

Shunwei Capital
VC Fund · Beijing, Beijing, China · 20 investments in China Energy 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 internet sectors. Their investors include sovereign wealth funds, fund of funds, university endowment funds, and family offices.

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Investment focus

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

Investor stats

  • Total investments: 618
  • Round size: Seed $1M–$74M; Series A $1.5M–$41M; Series B $8.2M–$55M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • DiffuSpace — DiffuSpace is an artificial intelligence initiative dedicated to building diffusion language models to establish a new foundation model paradigm beyond traditional autoregression. Instead of generating text sequentially token by token, their technology focuses on thinking globally and evolving through uncertainty.
  • Clarify intelligence — Clarify Intelligence is an artificial intelligence technology company focused on the research, development, and deployment of AI-driven software and intelligent solutions. The company specializes in developing foundational AI platforms, application software, and advanced AI algorithms to support a wide range of industry use cases.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 19 investments in China Energy 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 companies in 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: 1200
  • Round size: Series A $4.3M–$48M; Series B $8M–$90M; Series C $12M–$120M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: Likely actively investing — fresh fund, raised $8M in 2026

Portfolio highlights

  • Nice Tuan — Nice Tuan is an e-commerce platform that provides daily groceries and miscellaneous products.
  • Windward Bio — Windward Bio is a clinical-stage, drug development company committed to improving outcomes for people living with serious immunological diseases.
  • 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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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 19 investments in China Energy 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 more successfully 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, Semiconductor
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 367
  • Round size: Seed $1.4M–$20M; Series A $2.8M–$51M; Series B $7.2M–$50M
  • Lead/follow: 46% lead, 54% 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.
  • Lanxin Computing — Lanxin Computing is a high-performance chip design company that focuses on the research and development of CPUs with RISC-V ecosystems.
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HSG
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 19 investments in China Energy 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, Software, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 1092
  • Round size: Seed $2M–$50M; Series A $3.1M–$100M; Series B $11M–$200M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $2.5B in 2024

Portfolio highlights

  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • Xinghuo Chenguang — Xinghuo Chenguang is a hard-tech company focusing on semiconductor chips and optoelectronic interconnect technologies.
  • 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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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 18 investments in China Energy 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, Venture - Series Unknown
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 364
  • Round size: Series A $1.6M–$30M; Series B $12M–$145M; Venture - Series Unknown $1.4M–$101M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $241M in 2021

Portfolio highlights

  • CVSENS — CVSENS is a developer and supplier of CMOS image sensor chips for the CIS industry.
  • 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.
  • Ruimeng Semiconductor — Ruimeng Semiconductor is a provider of intelligent human-machine interface processor chips and solutions.
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K2VC
VC Fund · Beijing, Beijing, China · 17 investments in China Energy 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, Software
  • Stage:Angel, Series A, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 322
  • Round size: Seed $1M–$14M; Angel $417k–$3.1M; Series A $1.4M–$25M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely actively investing — fresh fund, raised $31M in 2025

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.
  • XinYang Micro — Xinyangwei is an early stage underwater sensing chip startup specializing in CMUT (Capacitive Micromachined Ultrasonic Transducer) technology. The company provides integrated acoustic sensing modules and 3D imaging components designed to give pool cleaning robots intelligent near field path planning and mapping capabilities.
  • Sequence Technology — Sequence Technology emphasizes in the production of polymer materials used in the semiconductor manufacturing process.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 15 investments in China Energy 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 gone on 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, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 714
  • Round size: Seed $1.4M–$74M; Series A $2.9M–$52M; Series B $10M–$137M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $92M in 2023

Portfolio highlights

  • Camera360 — Camera360 is a mobile phone camera application. Through a variety of solutions, including Camera360 Ultimate, HelloCamera, Movie360, Pink360, Camera360 Cloud, Camera360 SDK and Web Camera360, Camera360 hopes to build an ecosystem for the modern creatives to capture, compose and share the beautiful moments of their lives.
  • DiffuSpace — DiffuSpace is an artificial intelligence initiative dedicated to building diffusion language models to establish a new foundation model paradigm beyond traditional autoregression. Instead of generating text sequentially token by token, their technology focuses on thinking globally and evolving through uncertainty.
  • Liepin — Liepin is the largest and most professional high-end talent community-based recruitment site, with its innovative products and unique service model model for create an interactive high-end talent recruitment platform between business, headhunting and workplace. Tens of thousands of professional executive search consultant for businesses and jobseekers set up communication between the bridge and accelerate corporate recruitment process, recommended paying jobs in the workplace, career development planning. 16 job seekers to avoid the risk of privacy protection, millions of high-end elite member libraries, help enterprises development needs.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 12 investments in China Energy 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 industrial funds 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, Information Technology, Automotive
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 234
  • Round size: Seed $450k–$14M; Series A $794k–$16M; Series B $789k–$50M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fresh fund, raised $69M in 2025

Portfolio highlights

  • Tec-do — 1.Tec-Do 2.0 is a leading AI martech company delivering result-centric marketing solutions for global business growth.
  • 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.
  • Mailian Medical Technology — Mailian Medical Technology is a company specializing in brain-computer interface (BCI) technology and electroencephalogram
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 12 investments in China Energy startups, 41 in the past 12 months

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 many years 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: 334
  • Round size: Series A $2.9M–$100M; Series B $14M–$149M; Series C $30M–$220M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Synapath — Synapath focuses on using embodied intelligence and robotics technology to create clever systems for making decisions for multi-domain applications that are intelligent.
  • Blue Pivot Energy Technology — Blue Pivot Energy Technology is a nuclear energy technology company focused on the independent development and commercialization of integrated water-cooled small modular reactors (SMRs).
  • Deep Space Matrix Technology — Deep Space Matrix Technology's long-term objective is to benchmark against SpaceX and progressively construct a Chinese equivalent of an integrated air, space, and sea superintelligent system.
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Oriental Fortune Capital
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Energy 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 treatment and 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: Manufacturing, Software, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 335
  • Round size: Seed $1.5M–$100M; Series A $1.5M–$30M; Series B $3.1M–$100M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Memory tensor — Memory tensor designed with a focus on systematic innovation, grounded firmly in fundamental principles, serves as a powerful tool for scalable and adaptable intelligence. Its architecture emphasizes three core attributes: low cost, ensuring economic feasibility and accessibility; low illusion, reducing overfitting and minimizing hallucinations ormisleading outputs; and high generalization.
  • Langsilicon Technology — Langsilicon Technology is an electronic component R&D firm that specializes in the design, development, and sales of silicon-based passive components (capacitors, inductors, and resistors).
  • 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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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Energy 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, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 651
  • Round size: Seed $1.4M–$29M; Series A $1.6M–$100M; Series B $7.5M–$141M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely actively investing — fund raised in 2025

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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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 11 investments in China Energy startups, 41 in the past 12 months

Tsinghua Capital is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 102
  • Round size: Seed $1.4M–$74M; Angel $436k–$15M; Series A $8.3M–$18M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Dongthink — Dongthink transform real-world actions and interactions into reusable, scalable training data.
  • Clarify intelligence — Clarify Intelligence is an artificial intelligence technology company focused on the research, development, and deployment of AI-driven software and intelligent solutions. The company specializes in developing foundational AI platforms, application software, and advanced AI algorithms to support a wide range of industry use cases.
  • SiliconFlow — Silicon Mobile Technology is an AI ​​infrastructure company that specilaizes in large models inference and deployment system to reduce the cost in the AIGC and LLM industries.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Energy 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 the highest 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, Information Technology, Software
  • Stage:Series A, Series B, Seed
  • Geography: China, Japan, United States

Investor stats

  • Total investments: 328
  • Round size: Seed $462k–$73M; Series A $1.5M–$42M; Series B $3M–$60M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $860M 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.
  • Sungen Biomedical — Sungen Biomedical is an innovative antibody drug R&D enterprise. It has established international standard technology platforms and original biological macromolecular R&D pipelines. Their focus includes therapeutic drugs for cardiovascular and cerebrovascular diseases, tumors, and more.
  • NeueHCT — Horizon Continental Technology is a joint venture between Continental Group and Horizon Robotics
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SOSV
VC Fund · Princeton, New Jersey, United States · 10 investments in China Energy startups

SOSV offers pre-seed capital and follow-on financial support to startups focusing on deep technology and scientific innovation. Founders utilize purpose-built laboratory facilities and engineering spaces to accelerate product development and testing. The firm facilitates connections between entrepreneurs and a network of investors through structured matchmaking events and technology summits.

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Investment focus

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

Investor stats

  • Total investments: 3729
  • Round size: Seed $150k–$5M; Pre-Seed $50k–$1.6M; Convertible Note $50k–$3.6M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — raised $306M in 2023

Portfolio highlights

  • Halla — Halla Intelligence is a digital solution that leverages over 100 billion shopper and product data points to recommend and promote what grocery items.
  • Simply Good Jars — Simply Good Jars is a B-Corp company that delivers healthy meals in reusable + returnable packaging through use of smart refrigerated kiosks placed in offices, transit centers, universities and health-systems. Driven by purpose to change that way people think about consumption, SGJ introduces sustainable business practices into their everydayoperations with a zero-waste goal. For every jar returned back to the company for reuse, they will help feed someone in need and ensure that no packaging materials end up in landfills.
  • Verdex Technologies — Verdex Technologies is an advanced materials platform technology that uses nanofibers to disrupt industries. Verdex doesn't just compete, it innovates and disrupts.
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Dongfang Jiafu
VC Fund · Hangzhou, Zhejiang, China · 10 investments in China Energy startups, 25 in the past 12 months

Dongfang Jiafu is an equity fund management firm.

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Investment focus

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

Investor stats

  • Total investments: 71
  • Round size: Seed $14M–$89M; Series A $14M–$42M; Series B $28M–$100M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Zhongke lon — Zhongke lon engages in the R&D and manufacturing of high-end medical devices such as proton therapy equipment. It is committed to providing full-cycle solutions for the construction and operation of proton therapy centers and creating nuclear technology applications and medical equipment. The company was established in 2016 and is headquartered in Hefei, Anhui, China.
  • Gaowei Medicine — Gaowei Medicine is a drug discovery platform for developing new drugs for key intractable diseases such as cancer and neurological diseases.
  • Blue Pivot Energy Technology — Blue Pivot Energy Technology is a nuclear energy technology company focused on the independent development and commercialization of integrated water-cooled small modular reactors (SMRs).
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 10 investments in China Energy startups, 27 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: Manufacturing, E-Commerce, Software
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 298
  • Round size: Seed $1.4M–$10M; Angel $437k–$3M; Series A $1.4M–$28M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $78M in 2019

Portfolio highlights

  • Ora-Orb — Ora-Orb isan AI-powered emotion technology and reflection platform that combines physical hardware, app integration, and a virtual character to serve as an interactive companion.
  • Ubinexus — Ubinexus focuses on the overall design capabilities of satellite communication payloads and satellite-based comprehensive digital processing technology to meet the multi-dimensional needs of low-orbit mega-constellation construction and provide users with the world's leading communication payload system.
  • Alphalong Technologies — Afalong Technology focuses on R&D of core AI and AR technologies and products, having developed advanced items like AI smart glasses, HemeltX all-in-one smart glasses, and specialized three-proof handheld terminals for smart glasses.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 10 investments in China Energy startups, 69 in the past 12 months

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: 305
  • Round size: Seed $452k–$29M; Angel $425k–$14M; Series A $1.5M–$28M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Dongthink — Dongthink transform real-world actions and interactions into reusable, scalable training data.
  • Weilan Deep-Sea — Weilan Deep-Sea focuses on the global underwater ocean observation field, with its core product being distributed underwater observation systems that integrate advanced sensing, data transmission, and intelligent monitoring technologies to enable long-term, wide-area, and high-precision observation of oceanographic, environmental, and geologicalprocesses.
  • Qianjue Technology — Qianjue Technology is a company that created the first full-stack application-level robot model and offers cloud-based artificial intelligence solutions to robot manufacturers.
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ZSVC
VC Fund · Beijing, Beijing, China · 9 investments in China Energy startups, 14 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: 148
  • Round size: Seed $1.4M–$4M; Series A $1.5M–$21M; Series B $3.1M–$84M
  • 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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Lenovo Capital
VC Fund · Beijing, Beijing, China · 9 investments in China Energy 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: 347
  • Round size: Seed $1.4M–$65M; 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

  • SemiGraph — SemiGraph focuses on the research, development, and implementation of "3D intelligent interaction + ultimate aesthetics."
  • 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.
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China Merchants Venture Capital
VC Fund · Shenzhen, Guangdong, China · 8 investments in China Energy startups, 7 in the past 12 months

Headquatered in both Shenzhen and Hong Kong, China Merchants Capital Management Co., Ltd ("CMC") was founded in 2012 with registered capital of $160 Million (USD, hereinafter). As the subsidiary of China Merchants Group ("CM Group"), CMC is the investment management platform of it, specializing in alternative investments and management. CMC actively explores opportunities in capital markets to cultivate new industries. At the same time, CMC also integrates internal recourses within in CM Group, seeking synergies between financial sector and other sectors. As of the end of 2014, total AUM of CMC is about $3 Billion. CMC predominantly invests in opportunities within Chinese SOEs restructuring, industrial upgrading, and new urbanization, seeking cooperation opportunities in the following sectors: infrastructure, medical & pharmaceutical, financial services, real estate, high-tech, agriculture & foods, media, equipment machinery, mining, energy, etc.

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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: 180
  • Round size: Series A $1.5M–$74M; Series B $2.9M–$177M; Series C $14M–$132M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Zhongke Guosheng — Zhongke Guosheng focuses on the research and development and manufacturing of light gas turbines.
  • 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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Puhua Capital
VC Fund · Hangzhou, Zhejiang, China · 8 investments in China Energy 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: Manufacturing, Health Care, Medical
  • Stage:Series A, Series B, Seed
  • Geography: China, United Kingdom, United States

Investor stats

  • Total investments: 281
  • Round size: Seed $2.5M–$30M; Series A $1.5M–$42M; Series B $3M–$103M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • MindMotion — MindMotion is an electronics company that supplies general-purpose 32-bit MCU products and solutions. The company's MM32 MCU products developed by the company based on the Arm Cortex-M series cores have four series of F/L/SPIN/W, more than 200 models, and a cumulative delivery of more than 300 million units, ranking in theforefront of local general-purpose 32-bit MCU companies.MindMotion was founded in 2011 and is headquartered in Shanghai, China.
  • Yitang Technology — Yitang Technology is a developer specializing in high-speed and high-precision placement machines. The company is dedicated to the research and development (R&D) of these advanced machines, as well as the industrialization of intelligent production line solutions.
  • 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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IDG Capital
VC Fund · Beijing, Beijing, China · 8 investments in China Energy startups, 72 in the past 12 months

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: Internet, Software, E-Commerce
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 1238
  • Round size: Seed $600k–$44M; Series A $2M–$100M; Series B $6.2M–$110M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Manus AI — Manus is the action engine that goes beyond answers to execute tasks, automate workflows, and extend your human reach.
  • SemiGraph — SemiGraph focuses on the research, development, and implementation of "3D intelligent interaction + ultimate aesthetics."
  • Tian Keyu’s Research Lab — Tian Keyu’s Research Lab is a research lab of Tian Keyu.
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SZHTI Group
VC Fund · Shenzhen, Guangdong, China · 8 investments in China Energy startups, 16 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, Health Care
  • Stage:Series A, Angel, Series B
  • Geography: China, Canada, United States

Investor stats

  • Total investments: 138
  • Round size: Angel $425k–$1.4M; Series A $888k–$16M; Series B $3.2M–$15M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • GeneMind Biosciences — GeneMind Biosciences is a domestic third-generation single-molecule gene sequencing system. GeneMind Biosciences has been fighting to provide better gene sequencing solutions for clinicians and researchers. A Gene sequencer is the crown jewel in the field of gene sequencing. Entrepreneurs will lead their innovations and breakthroughs throughunremitting research and exploration. GeneMind believes that the strong pass of the difficulty is like a wall of iron, yet with firm strides, we are conquering its summit.
  • Xinhe Robot Technology — Xinhe Robot Technology manufactures specialized explosion-proof robotic systems designed for automated operations in bulk grain storage facilities and maritime cargo holds. The company's core business model integrates sensor-fusion navigation, LiDAR mapping, and helical-wheel drivetrains to execute autonomous grain leveling, turning, and real-time environmental inspection. By deploying these intelligent robotic hardware clusters alongside digital twin software systems, the company provides granular monitoring metrics that minimize manual hazard exposures and prevent crop degradation.
  • Vision Robotics Technology — Vision Robotics Technology is a technology company focuses on tactile perception and robot manipulation.
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TopoScend Capital
VC Fund · Nanshan, Hunan, China · 8 investments in China Energy startups

Shenzhen Investment Control Donghai Investment Co., Ltd. was established on January 8, 2015. It is a joint venture funded by Shenzhen Investment Holdings Co., Ltd., Shenzhen Chuangdong Investment Co., Ltd. and Qingdao Haier Technology Investment Co., Ltd. Investment and asset management platform. Investing in the East China Sea, relying on abundant resources, aiming at the industrial development trend under the new situation with an open vision, facing the country, facing the innovation economy, operating on the principle of marketization, and investing in specialized business. Mainly engaged in venture capital, private equity investment (VC/PE), corporate mergers and acquisitions, private placement, new three board funds and corporate financial advisory and other equity investment and asset management business, is committed to creating a whole industry chain of venture capital to the integrated chain of listed companies platform.

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Investment focus

  • Industry: Manufacturing, Software, Medical
  • Stage:Series A, Seed, Series B
  • Geography: China, Hong Kong

Investor stats

  • Total investments: 55
  • Round size: Seed $441k–$14M; Series A $1.4M–$28M; Series B $5.8M–$149M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • i2Cool — i2Cool is a technology start-up that provides new and long-term solutions for a green, low-carbon society.
  • Astribot — Astribot is a developer of consumer humanoid robots and integrated bionic robots.
  • Beijing Guxin — Beijing Guxin is a battery company that integrates battery cell design, process development, battery cell trial and mass production.
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Delian Capital
VC Fund · Beijing, Beijing, China · 8 investments in China Energy startups, 18 in the past 12 months

Founded in 2011, Delian Capital specializes in the field of tech-driven industry such as high-end manufacturing, cutting-edge technologies, and healthcare. Their investments range from robotics, Smart manufacturing Semiconductor, AI, big data, enterpriseservices, healthcare, etc. Examples of their investment portfolio: YueBoo、Hunan zhongli、 Esafenet、Venus MedTech、MicuRx、Rokae、 IMI、12 Sigma Technologies.

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Investment focus

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

Investor stats

  • Total investments: 105
  • Round size: Seed $1.5M–$50M; Series A $1.6M–$20M; Series B $9.9M–$30M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • BCI-Sonics — BCI-Sonics is an innovative medtech company developing non-invasive brain-computer interface solutions using advanced transcranial focused ultrasound (tFUS) technology. The company builds a next-generation therapeutic platform enabling precise neuromodulation to treat central nervous system disorders. BCI-Sonics develops low-intensity focusedultrasound technology that non-invasively stimulates deep brain regions with high precision. They combine ultrasound engineering and neuroscience to interface safely and effectively with the human brain without surgery. The company is creating an AI ultrasound brain-computer interface platform for therapeutic neuromodulation applications.
  • Xinyun Life — Xinyun Life Sciences is a high tech medical enterprise focusing on the R&D and industrialization of artificial intelligence vascular intervention devices. The company integrates AI deeply into its hardware development using a unique dual closed- oop system.
  • Zhongke Hecheng — Zhongke Hecheng is the industrialization company of the Energy Research Institute of the Hefei Comprehensive National Science Center. The company focuses on the overall design, production, and sales of green ammonia synthesis equipment , and is committed to providing modular, flexible ammonia synthesis equipment and sustainable ammonia production solutions.
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Fresh Capital
VC Fund · Huangpu, Shanghai, China · 8 investments in China Energy startups, 6 in the past 12 months

Fresh capital is a growth fund focusing on consumer product and service companies. They focus on brand and invest in fast growth stage. fresh capital achieved outstanding historical return with successful investment experience and deep network in the consumer sector. Their industry focus include home&family, food &beverage, children & maternity, education, body&wellness and consumer finance. fresh capital strives to become founders' fund, providing comprehensive and thorough value-adding services for portfolio companies. almost all previous invested entrepreneurs turned out to be anchor LP

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Investment focus

  • Industry: Energy, E-Commerce, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, Germany

Investor stats

  • Total investments: 40
  • Round size: Seed $13M–$15M; Series A $1.6M–$146M; Series B $3.1M–$211M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $93M in 2021

Portfolio highlights

  • AGILINK — AGILINK is a high-tech enterprise specializing in the research and development of intelligent robots, committed to combining advanced technologies such as artificial intelligence, automation, and intelligent control systems to deliver innovative robotic solutions for industrial, commercial, and service applications.
  • Boden Intelligence — BodenAI focuses on providing customers with high-quality data services, mainly providing a full range of process services
  • Yusuan Xinghe Technology — Yusuan Xinghe is a space computing company focuses on the "space data and space computing" track.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 8 investments in China Energy startups

Investors of Gaorong Capital include world-class sovereign wealth funds, university endowment funds, family foundations, pension funds and fund of funds, as well as successful entrepreneurs, including founders and managements of Tencent, Alibaba, Baidu, JD, Xiaomi, Focus Media and VIPShop. They will provide with valuable industry resources, entrepreneurial experience, and global perspectives.

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Investment focus

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

Investor stats

  • Total investments: 371
  • Round size: Seed $2.8M–$100M; Series A $1.6M–$75M; Series B $14M–$110M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely still investing — raised $185M in 2022

Portfolio highlights

  • Anew Labs — Anew Labs develops generative AI platforms and foundation models to accelerate drug discovery, including protein structure prediction, antibody design, and cellular dynamics forecasting. The company integrates its computational engines with experimental feedback to advance pipelines targeting diseases like inflammatory conditions. Its business model centers on side-by-side collaboration between machine learning researchers and biotechnology experts to create synthesizable molecular pathways and clinical candidates.
  • Cascade — Cascade produces novel medications that target nuclear receptors for treating metabolic disorders and inflammation.
  • Sequence Technology — Sequence Technology emphasizes in the production of polymer materials used in the semiconductor manufacturing process.
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Hefei Industry Investment Group
VC Fund · Hefei, Anhui, China · 8 investments in China Energy 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: 91
  • Round size: Series A $9.6M–$101M; Series B $14M–$295M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely actively investing — fund raised in 2026

Portfolio highlights

  • Xinming — Xinming is a high-tech enterprise focusing on spatial computing and artificial intelligence chip and product design.
  • 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.
  • Hangke Platinum Technology — Hefei Hangke Borui focuses on the R&D and production of advanced thermal barrier and high-temperature corrosion-resistant coatings.
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Zhaoxi Capital
VC Fund · Shanghai, Shanghai, China · 7 investments in China Energy startups

Zhaoxi Capital is an investment firm.

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Investment focus

  • Industry: Manufacturing, Solar, Energy
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: China, Australia

Investor stats

  • Total investments: 30
  • Round size: Series A $14M–$14M; Series B $42M–$219M; Venture - Series Unknown $5.5M–$200M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • Robot Era — Robot era is an emerging technology business creates embodied intelligence and generic humanoid robot technologies and products. Xingdong Era is committed to the development of universal humanoid robots that can adapt to a wide range of fields, multiple scenarios, and high intelligence, striving to realize the beautiful vision of intelligent robotsentering thousands of households and integrating into the lights of thousands of homes.
  • Yanhe Technology — Yanhe Technology provides solar power generation technology-related services.
  • Zhide New Energy — Zhide New Energy is a developer of high-capacity silicon anode materials for lithium batteries
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Fenghe Capital
VC Fund · Hainan, Hainan, China · 7 investments in China Energy startups

Fenghe Capital specializes on energy storage investments.

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Investment focus

  • Industry: Battery, Manufacturing, Energy Storage
  • Stage:Series A, Seed, Series C
  • Geography: China, Germany, Singapore

Investor stats

  • Total investments: 20
  • Round size: Series A $3.3M–$122M; Series C $28M–$638M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Robot Era — Robot era is an emerging technology business creates embodied intelligence and generic humanoid robot technologies and products. Xingdong Era is committed to the development of universal humanoid robots that can adapt to a wide range of fields, multiple scenarios, and high intelligence, striving to realize the beautiful vision of intelligent robotsentering thousands of households and integrating into the lights of thousands of homes.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
  • Lithium Silicon New Materials — LiSi New Materials is a technology business that specializes in battery research, development, and production. It focuses on the R&D and production of ultra-thin lithium metal anode materials, with its key product being ultra-thin lithium foil composite materials, primarily targeting the solid-state battery industry.
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DT Capital Partners
VC Fund · Shanghai, Shanghai, China · 7 investments in China Energy startups

DT Capital Partners is a private equity investment firm that provides growth capital to early and expansion stage companies. They invest in dynamic businesses that have high growth potential, strong management teams, and demonstrated revenue models in both technology-based and traditional industries. DT Capital Partners currently manages over USD$500 Million in capital across multiple US dollar and RMB funds, and also has a close affiliation with Madrone Capital in the US, the investment entity for members of the Walton family. In addition to funds, the invested company also benefits from their extensive experience in operating capital markets across the country, close relationships with local governments and companies, and synergies with other investment companies. DT Capital Partners was awarded the “Top 10 China's Best Return Venture Capital Institution” in 2016, and the founding partners of Detong Capital, Shao Jun and Tian Lixin. DT Capital Partner was founded in 2006 and is based in Shanghai, China.

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Investment focus

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

Investor stats

  • Total investments: 149
  • Round size: Series A $1.5M–$31M; Series B $2.9M–$90M; Series C $15M–$102M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $286M in 2019

Portfolio highlights

  • CiMicro.Ai — CiMicro.ai is an AI‑chip startup building compute‑in‑memory (CiM)‑based heterogeneous accelerators for high‑efficiency, low‑cost large‑language‑model inference.
  • Honghu Future Energy — Honghu Fusion focuses on researching, engineering, and commercializing controlled nuclear fusion reactors by utilizing high-temperature superconducting stellarator designs. The company integrates artificial intelligence, digital twin modeling, and additive manufacturing to design and optimize complex magnetic coil structures. Through its proprietary engineering frameworks and academic joint ventures, it develops compact experimental devices aimed at achieving sustainable, clean commercial energy.
  • Yincheng Intelligent — Yincheng Intelligent is an enterprise focused on developing new types of productivity. It is committed to revolutionizing traditional labor models through advanced embodied intelligence technology, thereby increasing productivity and freeing up human resources. The company provides services in multiple fields, including logistics, pharmaceuticals,chemicals, industry, and home services, building a new development pattern of smart work and smart living. Its main product is currently sorting robots used in the logistics industry.
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Legend Capital
VC Fund · Beijing, Beijing, China · 7 investments in China Energy 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 China or 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: 523
  • Round size: Series A $2.9M–$93M; Series B $12M–$100M; Series C $15M–$200M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $177M in 2021

Portfolio highlights

  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • DiffuSpace — DiffuSpace is an artificial intelligence initiative dedicated to building diffusion language models to establish a new foundation model paradigm beyond traditional autoregression. Instead of generating text sequentially token by token, their technology focuses on thinking globally and evolving through uncertainty.
  • Huixin Bio — Huixin Bio is a developer of exosome purification products and early cancer detection technology.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 7 investments in China Energy startups, 15 in the past 12 months

Future Capital is an early-stage venture firm investing at the frontier of deep technology

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Angel, Series A
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 207
  • Round size: Seed $228k–$8M; Angel $409k–$6.5M; Series A $929k–$20M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: Likely still investing — raised $57M in 2022

Portfolio highlights

  • LibLib AI — LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd.
  • Guangyu Yuanxin — Guangyu Yuanxin is a semiconductor technology service provider that specializes in offering ultra-high precision display screen services for metaverse HMI devices like AR and VR.
  • Xingyue Semiconductor — Xingyue Semiconductor designs, develops, and distributes integrated circuits and devices.
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NIO Capital
VC Fund · Shanghai, Shanghai, China · 7 investments in China Energy startups

NIO Capital is a fund manager investing in themes reshaping the automotive, new energy and technology sectors.Established in 2016 and sponsored by NIO, NIO Capital leverages its unique access to global & Chinese innovation, comprehensive market understanding and flourishing ecosystem to create category-leading companies in fields such aselectric vehicles, autonomous driving, shared mobility, new energy network, new materials and more.

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Investment focus

  • Industry: Manufacturing, Automotive, Energy
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Germany

Investor stats

  • Total investments: 108
  • Round size: Series A $1.6M–$74M; Series B $15M–$270M; Series C $14M–$120M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Yuan Planet — Youdi is a second-hand auto parts trading platform.
  • Wuxi Gongwang — Wuxi Gongwang inductive sensor developer offering high-precision, oil and dust-resistant products for various industries, including aerospace, automotive, medical care, and more.
  • Shifang Technology — Shifang Technology is a high-tech enterprise that provides integrated intelligent equipment for manufacturing industries.
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Winreal Investment
VC Fund · Shanghai, Shanghai, China · 7 investments in China Energy startups, 13 in the past 12 months

Winreal Investment is an investment Firm.

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Investment focus

  • Industry: Manufacturing, Information Technology, Automotive
  • Stage:Series A, Series B, Seed
  • Geography: China, Finland

Investor stats

  • Total investments: 72
  • Round size: Seed $3.2M–$14M; Series A $2.8M–$15M; Series B $14M–$107M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $146M in 2020

Portfolio highlights

  • Xihu Xinchen — Xihu Xinchen is a technology company focusing on the research and development of artificial intelligence services.
  • EVAS Intelligence — EVAS Intelligence is an autonomous driving chip startup. The company was founded by Liu Hui.
  • Chengdu Zhongweida Xinko Technology — Chengdu Zhongweida Xinko Technology is an IT firm that specializes in quantum computing and control technology products.
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ZhenFund
VC Fund · Beijing, Beijing, China · 7 investments in China Energy 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. We believe 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:Seed, Series A, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 763
  • Round size: Seed $121k–$14M; Angel $425k–$3M; Series A $873k–$22M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Manus AI — Manus is the action engine that goes beyond answers to execute tasks, automate workflows, and extend your human reach.
  • Snowplus — SNOWPLUS is an e-cigarette brand that provides users with e-cigarette products through a combination of online and offline sales models. The products are available in 12 different types of flavors. The products use TrueFeel honeycomb ceramic atomization technology and Aeroflow intake. Technology; In addition to reference to the existing food-gradestandards in China, Xuejia has also passed a number of third-party certifications in terms of safety. The core components such as atomizing core and cigarette holder comply with the highest medical safety standards of the FDA and the European Union.
  • Futuring Robot — Futuring Robot is a developer of dual-arm home service robots focusing on C-end home scenarios.
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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 6 investments in China Energy startups, 36 in the past 12 months

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, Seed
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 227
  • Round size: Seed $4.5M–$44M; Series A $1.5M–$46M; Series B $10M–$100M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • BCI-Sonics — BCI-Sonics is an innovative medtech company developing non-invasive brain-computer interface solutions using advanced transcranial focused ultrasound (tFUS) technology. The company builds a next-generation therapeutic platform enabling precise neuromodulation to treat central nervous system disorders. BCI-Sonics develops low-intensity focusedultrasound technology that non-invasively stimulates deep brain regions with high precision. They combine ultrasound engineering and neuroscience to interface safely and effectively with the human brain without surgery. The company is creating an AI ultrasound brain-computer interface platform for therapeutic neuromodulation applications.
  • MOSS Intelligence — MOSS Intelligence is a high-tech enterprise in China focusing on the research and commercialization of next-generation strong interactive basic models, aiming to advance the development of highly adaptive, multimodal AI systems that enable natural, context-aware human–machine interaction while supporting scalable applications across industries suchas education, enterprise services, robotics, and digital ecosystems.
  • Leadsynbio — Pilot Bio is a bio-manufacturing technology research and development company, focusing on bio-manufacturing of major chemical products, bio-process substitution in heavy-polluting industries, etc., providing users with bio-catalytic synthesis processes, enzyme product research and development, production, sales, and downstream companies with enzymeengineering , Technical service outsourcing and production service outsourcing of strain transformation and metabolic engineering.
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Haiyuan Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Energy startups

Haiyuan Capital is a Shenzhen-based asset management company.

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Investment focus

  • Industry: Manufacturing, Medical, Semiconductor
  • Stage:Series A, Seed, Angel
  • Geography: China

Investor stats

  • Total investments: 79
  • Round size: Seed $1.4M–$15M; Angel $432k–$14M; Series A $1.4M–$15M
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Anxin Medical — Anxin Medical is a company dedicated to the research, development, production, and sales of innovative medical devices. The company focuses on advancing healthcare technology through continuous innovation, integrating cutting-edge science and engineering to create high-quality, reliable, and efficient medical products.
  • Deep Carbon Source — Senge Carbon Source (Quzhou) Technology Co., Ltd. develops high-end porous carbon materials, using specialized production machinery and artificial intelligence, to supply the manufacturing of energy storage components like supercapacitors and silicon-carbon anodes.
  • Feat-Aero Intelligent Technologies — Feat-Aero Intelligent Technologies is a specialized high tech enterprise designing advanced digital assembly equipment and robotics for the aerospace industry. Operating under a strategic Three One framework to drive automated manufacturing upgrades, the company offers a robust product suite including high precision drilling, riveting, and digital twin systems.
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Summitview Capital
VC Fund · Beijing, Beijing, China · 6 investments in China Energy startups, 15 in the past 12 months

Wu Yuefeng capital to the twenty-first century has been a very growing vitality of the outstanding enterprises to provide funds, and to grow into leading the industry trend leader as any. Their investment strategy is clear and clear: do their best to creativity, innovation and technology to provide the necessary resources for a huge commercial success for the great opportunity it represents. Wu Yuefeng Capital currently manages funds located in Shanghai, Beijing, Jiangsu, California and other places. Since its inception in early 2011, they actively cooperate with the government government guidance funds, emerging industries to high-tech venture capital, covering the core areas of integrated circuits, mobile Internet, energy saving technology, clean energy, bio-medicine, culture and creative. Wu Yuefeng well versed in this rapidly changing world, more and more complex problems require creative solutions. Especially the new generation of information technology, information services, clean energy, environmental protection and technology, cultural and creative industries, is facing unprecedented opportunities and change. The current set of advantages is their capital, technology, human resources and policies to promote the perfect time to these industry changes. These industries in the emerging business development, to put forward a new strategic investor demand. Mode of operation of venture capital funds originally consistent with the need to constantly change. Industry and professional capability is the core, the selection can become a critical industry leader entrepreneurs.

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Investment focus

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

Investor stats

  • Total investments: 83
  • Round size: Seed $412k–$165M; Series A $14M–$147M; Series B $7.3M–$143M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $1.7B in 2014

Portfolio highlights

  • Qiuzhi Technology — Qiuzhi Technology focused on merging artificial intelligence and robotics, with an objective of bringing robots into households.
  • Wushi Microelectronics — Wushi Microelectronics is an innovative enterprise in the semiconductor field, focusing on the R&D and sales of wafer-level temporary bonding and debonding equipment and permanent bonding equipment.
  • Jingsheng Superconductor — Jingsheng Superconductor focuses on the R&D and commercial scale-up of second-generation double-sided REBCO high-temperature superconducting tapes. The company builds proprietary equipment and refines manufacturing processes to achieve synchronized, uniform deposition on both sides of the tapes. Its primary objective is to supply thesehigh-performance conductors to downstream industries requiring intense magnetic fields. The core commercial application of its output is targeted at the development of controlled nuclear fusion systems.
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Nanotrend Capital
VC Fund · Central City, Nebraska, United States · 6 investments in China Energy startups

Nanotrend Capital is a market-oriented professional equity investment institution with state-owned shares in Suzhou Industrial Park. Nanotrend focuses on equity investment in the nanotechnology application sector, creates a financial environment for the nanotechnology application industry, and enables hard technology companies to scale quickly.

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Investment focus

  • Industry: Energy, Robotics, Aerospace
  • Stage:Seed, Series A, Angel
  • Geography: China

Investor stats

  • Total investments: 12
  • Round size: Series A $1.4M–$43M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Huafeng Core — Huafeng Core is a specialized provider of advanced chip packaging and testing solutions, delivering comprehensive semiconductor services that cover precision packaging technologies, rigorous quality testing, performance validation, and reliability assurance to meet the evolving demands of the global electronics and integrated circuit industries.
  • Bingling Intelligence — Bingling Intelligence is a firm that makes vehicle sensors. Its major products are energy efficiency management sensors, which are utilized in three electrical systems: battery system management, motor drive control, and new energy vehicle power modules.
  • Kaiyang New Materials — Kaiyang New Materials is a high-tech enterprise at the forefront of the advanced materials sector. The company specializes in the research, development, and large-scale industrialization of metal-organic framework (MOF) materials.
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Taiyou Fund
VC Fund · Beijing, Beijing, China · 6 investments in China Energy startups, 7 in the past 12 months

The fund owns a series of funds in Thailand and establishes parallel funds overseas. Based on domestic and foreign famous universities, research institutes, entrepreneurial parks, incubators and other entrepreneurial projects, it seeks high-tech entrepreneurial projects with investment potential and entrepreneurship. They will grow together andstrive to become a first-class angel investment fund that is specialized, standardized, and international.

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Investment focus

  • Industry: Manufacturing, Information Technology, Electronics
  • Stage:Angel, Seed, Series A
  • Geography: China, United States

Investor stats

  • Total investments: 59
  • Round size: Seed $152k–$14M; Angel $153k–$1.6M; Series A $1.4M–$4.6M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Misihuizhi — Misihuizhi is an AI software developer specializing in the research, development, and application of AI-driven enterprise-level software products.
  • 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.
  • Black Crown Optoelectronics — Black Crown Optoelectronics focuses on the research and development of high-efficiency perovskite photovoltaic modules.
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Shenzhen Guozhong Venture Capital Management
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Energy startups, 18 in the past 12 months

Shenzhen Guozhong Venture Capital Management CO. LTD.(GZVCM) was founded on 21st of December 2015, currently being entrusted to manage the first entity fund of Small Medium Enterprises Development Fund(SHENZHEN)LLP with a size of 6 Billion Yuan. Guozhong Venture Capital with a registered size of 100million Yuan, partners consisting Shenzhen venture capital group (49%) and the management team of Small Medium Enterprise Development Fund (SHENZHEN) (51%).

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Investment focus

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

Investor stats

  • Total investments: 138
  • Round size: Seed $441k–$14M; Series A $1.5M–$41M; Series B $9.2M–$100M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Nova Fusion — Nova Fusion is an innovative company that provides commercialization of small modular nuclear fusion reactors.
  • Xijia Medical — Xijia Medical is a brain science AI technology developer dedicated to individualized brain data analysis and brain disease research.
  • Ractigen Therapeutics — ractigen-hero-slider ractigen-row first odd first-in-class row-copy We Deliver First-in-Class Therapies We are an clinical-stage pharmaceutical company creating first-in-class therapies designed to boost expression of therapeutic genes in diseased cells. LEARN MORE > row-image ractigen-row even rnaa-technology row-image row-copy RNAa Technology: RNAa (RNA activation) is a platform technology to selectively turn genes on by using short
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Source Code Capital
VC Fund · Chaoyang, Liaoning, China · 6 investments in China Energy startups, 23 in the past 12 months

Founded in 2014, Source Code Capital is a leading China VC focused on the broad TMT sectors and investing in both early stage start-ups and growth stage companies. With $1.5 billion and RMB 3.5 billion under management, Source Code Capital has been successfully partnering with close to 150 leading Chinese technology founders since inception including Bytedance, Meituan, Homelink, among many others. Source Code is focused on the “Big 3” fundamental drivers, which are Internet+, AI+, and Global+ , and invests along sectors such as media and entertainment, consumer services, enterprise, finance, retail, transportation, housing, education, and healthcare.

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Investment focus

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

Investor stats

  • Total investments: 366
  • Round size: Series A $1.5M–$50M; Series B $14M–$120M; Series C $30M–$200M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $580M in 2021

Portfolio highlights

  • Deep Intelligent Control — Deepin Intelligent Control is a smart energy innovation company.
  • Yongquan Innovation — Yongquan Innovation is a technological firm that specializes in sophisticated desktop CNC machinery.
  • Chuangcai Advanced Education — Chuangcai Advanced Education is a high-tech company that specializes in artificial intelligence and innovative materials.
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Keyuan Industry Fund
VC Fund · Beijing, Beijing, China · 6 investments in China Energy startups

Keyuan Industry Fund is a fund manager that focuses on integrating technological innovation, financial support, and industrial resources. It was established in 2018 and is headquartered in Beijing, China.

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Investment focus

  • Industry: Manufacturing, Biotechnology, Biopharma
  • Stage:Series A, Seed, Series B
  • Geography: China, United States

Investor stats

  • Total investments: 20
  • Round size: Series A $12M–$21M; Series B $16M–$211M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Lepu Nadian — Lepu Nadian is a supplier of new-generation power battery materials and energy storage battery systems. It is market-oriented, integrating research and development, manufacturing, and sales, with an emphasis on sodium-ion battery technology innovation and engineering applications.
  • Qiyuan Core Power Technology — Qiyuan Green Power provides services and solutions for green energy.
  • Shanghai Carbon International — Shanghai Carbon International is a developer of carbon paper core materials for hydrogen fuel cells.
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Hefei Innovation Investment
VC Fund · Hefei, Anhui, China · 6 investments in China Energy startups, 14 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: 53
  • Round size: Series A $1.4M–$122M; Series B $14M–$200M
  • Lead/follow: 21% lead, 79% 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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Shenzhen Small & Medium Enterprises Credit Financing Guarantee Group
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Energy startups, 19 in the past 12 months

Shenzhen Small & Medium Enterprises Credit Financing Guarantee Group Co., Ltd. (SZCGC), formerly named Shenzhen Small & Medium Enterprises Credit Guarantee Center, was established on December 28th, 1999 by the Shenzhen Municipal Government. SZCGC is the earliest one who has been ranked the highest class AAA of Credit Quality Rating amongChina’s guarantee organizations. With 5.495 billion RMB registered capital (approximately 868 million US Dollars), SZCGC gets the highest class AAA rating of Capital market in 2017.Since the establishment 18 years ago, SZCGC has guaranteed loans of more than 240 billion RMB Yuan to over 20000 small and medium-sized enterprises (SMEs), which keeps SZCGC holding the leading position among all financing guarantee organizations in China. SZCGC is also one of the first organizations that were awarded as the Model Organization of SME Financing Service in Guangdong province.

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Investment focus

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

Investor stats

  • Total investments: 48
  • Round size: Seed $140k–$14M; Series A $1.6M–$130M; Series B $14M–$14M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • InfinAstro — InfinAstro is a firm that develops and manufactures rocket engines, rocket launch equipment, rocket control systems, and microsatellites.
  • Hengxuan Robotics — Hengxuan Robotics is a high-tech enterprise specializing in the research and development of advanced robot joints, focusing on innovative design, precision engineering, and reliable performance to support next-generation robotic systems.
  • Omni-Intel Technolog — Omni-Intel Technology is a cutting-edge brain-computer interface (BCI) hard technology.
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Linear Capital
VC Fund · Shanghai, Shanghai, China · 6 investments in China Energy startups, 27 in the past 12 months

Linear Capital is a Frontier Tech Fund founded in 2014 by Harry Wang, Facebook's first Chinese R&D manager. We currently manage 10 funds with AUM of more than $2 billion.

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Investment focus

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

Investor stats

  • Total investments: 96
  • Round size: Seed $1.4M–$122M; Angel $1.4M–$122M; Series A $5.7M–$29M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $300M in 2022

Portfolio highlights

  • D-Robotics — D-Robotics is a leading provider of robotic computing solutions.
  • Xieyue Intelligent — Xieyue Intelligent focuses on the research and development of embodied intelligence technology.
  • DeepPu Intelligence — DeepPu Intelligence is a high-tech enterprise specializing in the research, development, and innovation of intelligent robotic technologies. The company focuses on creating advanced robotic systems that integrate artificial intelligence, machine vision, and automation to serve a wide range of industries, including manufacturing, logistics,healthcare, and service sectors.
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Yunze Capital
VC Fund · Shanghai, Shanghai, China · 6 investments in China Energy startups, 8 in the past 12 months

Yunze Capital is an asset management organization established and operated in accordance with international standards.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Electronics
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: China

Investor stats

  • Total investments: 32
  • Round size: Seed $1.4M–$15M; Series A $15M–$185M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Sealien — Sealien is a company specializing in the research and development, production, engineering services, and leasing of deep-sea industrial robots and maritime intelligent equipment. The company possesses significant technological strength and innovation skills.
  • Shuyan Juchuang — Shuyan Juchuang specializes in the research and development of neutral beam heating and core auxiliary systems for controlled nuclear fusion, successfully overcoming critical technological obstacles in neutral beam heating and high-precision plasma diagnostics.
  • Mildred Semiconductor — Mier Optoelectronics is a supplier specializing in the independent research and development and production of core optical chips and devices.
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China Merchants Zhiyuan Capital
VC Fund · Beijing, Beijing, China · 6 investments in China Energy startups

China Merchants Zhiyuan Capital is a private equity investment fund. it is a subsidiary of China Merchants Securities.

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Investment focus

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

Investor stats

  • Total investments: 12
  • Round size: Series A $1.4M–$185M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • ENN Energy Research Institute — ENN develops technologies and conducts research focused on sustainable energy solutions. The company works on proton-boron fusion, compact fusion systems, and other advanced energy generation approaches. Its services include designing experimental fusion reactors, modeling plasma behavior, and developing computational tools for energy simulations.ENN also engages in partnerships with universities, research institutes, and industry organizations to advance innovation in energy science. The company supports efforts to create scalable, low-carbon energy technologies and to explore applications in electricity generation and related scientific research.
  • Coherent Technology — Coherent Technologies, a company that provides superconducting quantum computing technology solutions and quantum computing services, was founded at the Beijing Academy of Quantum Information Science. Leveraging the academy's foundation in superconducting quantum computing science and engineering research, Coherent Technologies has graduallyconstructed a complete superconducting quantum computing measurement and control solution, as well as the ability to develop complete quantum computers.
  • Zhenye New Materials — Zhenye New Materials seeks to establish a top-notch production and research and development platform for intelligent marine protection materials by concentrating on the strategic requirements of maritime power.
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ZGC Group
VC Fund · Beijing, Beijing, China · 6 investments in China Energy startups, 13 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 building high-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: 89
  • Round size: Seed $283k–$46M; Series A $1.5M–$16M; Series B $2.8M–$85M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • SECCO Power — SECCO Power is a battery manufacturer that mainly engages in battery manufacturing, battery sales, battery parts sales, energy storage technology services, and new energy vehicle production and testing equipment sales.
  • Yuequan Bionics — Yuequan Bionics specializing in bionic sports intelligence, bionic health systems and equipment, and humanoid robots.
  • Yisheng New Materials — Yisheng New Materials has developed a W-coating thickness management technology that creates a highly thermally conductive interface between diamond and the metal substrate while avoiding damaging interfacial interactions.
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Energy Investor funding in China at a glance

Stats across 2.2k deals from 2.9k investors.

2.9k
investors
in China Energy startups
2.2k
deals
in China Energy startups
$14M
median round
in China Energy startups
37%
lead investors
lead at least one round
26%
Series A
most common funding stage
99/1
VC / Angel
share of investor count

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