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Top 50 Hardware VC Funds & Investors in Asia (June 2026)

The most active venture capital funds investing in Asia Hardware startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Asia Hardware startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Lenovo Capital and Incubator Group (LCIG)
VC Fund
69 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $2.8M–$145M
Shenzhen Capital Group
VC Fund
59 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.4M–$142M
Qiming Venture Partners
VC Fund
57 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$142M
Shunwei Capital
VC Fund
56 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.4M–$130M
Innoangel Fund
VC Fund
55 China, Canada, Hong Kong Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $300k–$27M
HSG
VC Fund
54 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $4.4M–$214M
Cowin Capital
VC Fund
49 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$50M
ZhenFund
VC Fund
48 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Software, E-Commerce $413k–$28M
IDG Capital
VC Fund
47 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $3M–$190M
Addor Capital
VC Fund
46 China, Hong Kong, Singapore Series A, Series B Manufacturing, Semiconductor, Electronics $1.4M–$43M
Matrix Partners China
VC Fund
45 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $2.8M–$200M
Oriental Fortune Capital
VC Fund
41 China, United States Series A, Series B, Seed Software, Manufacturing, Information Technology $1.4M–$100M
Oriza Seed Capital (Oriza Yuandian)
VC Fund
37 China, United States, Singapore Series A, Seed, Angel Manufacturing, Health Care, Biotechnology $213k–$90M
SZHTI Group
VC Fund
33 China, United States Series A, Angel Manufacturing, Electronics, Semiconductor $425k–$14M
SOSV
VC Fund
32 United States, India, United Kingdom Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software
GSR United Capital
VC Fund
32 China, United States, Singapore Series A, Seed, Series B Manufacturing, Robotics, Information Technology $98k–$50M
Green Pine Capital Partners
VC Fund
32 China, United States, Canada Series A, Series B, Angel Biotechnology, Software, Manufacturing $425k–$150M
Oriza Holdings
VC Fund
31 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $1.7M–$200M
Baidu Ventures
VC Fund
31 China, United States, Singapore Series A, Seed, Series B Artificial Intelligence, Health Care, Biotechnology $1.4M–$145M
Northern Light Venture Capital
VC Fund
30 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$100M
Future Capital Discovery Fund
VC Fund
29 China, United States, Philippines Angel, Series A, Seed Artificial Intelligence, Software, Robotics $411k–$28M
Incubate Fund
VC Fund
29 Japan, United States, India Seed, Series A Software, Information Technology, E-Commerce $362k–$113M
Yunqi Partners
VC Fund
29 China, United States, Singapore Series A, Seed, Series B Artificial Intelligence, Software, Manufacturing $3.2M–$60M
Mitsubishi UFJ Capital
VC Fund
29 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $2M–$397M
Yinxinggu Capital
VC Fund
29 China, Singapore Series A, Angel Manufacturing, Information Technology, Software $425k–$15M
Gaorong Capital
VC Fund
28 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$110M
East Ventures
VC Fund
28 Japan, Indonesia, Singapore Seed, Series A Software, Information Technology, Internet $649k–$38M
Drone Fund
VC Fund
27 Japan, United States, Canada Seed, Series A Drones, Robotics, Aerospace $2M–$213M
Fortune Venture Capital
VC Fund
27 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $425k–$73M
Xiaomi
VC Fund
27 China, India, United Kingdom Series A, Series B, Series C Manufacturing, Software, Hardware $1.4M–$400M
Plum Ventures
VC Fund
27 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $425k–$16M
China Fortune-Tech Capital
VC Fund
26 China Series A, Series B Manufacturing, Semiconductor, Electronics $12M–$213M
Wavemaker Ventures
VC Fund
26 United States, Singapore, Philippines Seed, Series A Software, E-Commerce, Information Technology $920k–$20M
GGV Capital
VC Fund
26 United States, China, Singapore Series B, Series A, Series C Software, Information Technology, Artificial Intelligence $5M–$150M
SMBC Venture Capital
VC Fund
26 Japan, United States, Singapore Series A, Series B Information Technology, Health Care, Software $5M–$425M
BlueRun Ventures
VC Fund
25 China, United States, South Korea Series A, Series B, Seed Software, Mobile, Robotics $1.4M–$28M
Mizuho Capital
VC Fund
25 Japan, United States, China Series A, Series B Information Technology, Software, Internet $2.7M–$850M
Source Code Capital
VC Fund
24 China, United States, Singapore Series A, Series B, Series C Software, Artificial Intelligence, E-Commerce $2M–$200M
Glory Ventures
VC Fund
24 China, Israel, United States Series A, Seed, Series B Software, Artificial Intelligence, Manufacturing $3M–$227M
Vertex Ventures China
VC Fund
24 China, United States, Singapore Series A, Series B, Seed Manufacturing, E-Commerce, Health Care $2M–$85M
Walden International
VC Fund
24 United States, China, Singapore Series B, Series A, Series C Manufacturing, Semiconductor, Software $1.4M–$142M
QF Capital
VC Fund
23 China, Hong Kong, United States Series A, Angel, Seed Artificial Intelligence, E-Commerce, Software $425k–$16M
Frees Fund
VC Fund
23 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
Summitview Capital
VC Fund
23 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Electronics $411k–$241M
Tsinghua Capital
VC Fund
23 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Biotechnology $425k–$73M
Iflytek
VC Fund
22 China, Hong Kong Series A, Angel, Seed Artificial Intelligence, Information Technology, Software $142k–$99M
Vision Plus Capital
VC Fund
22 China, United States, Canada Series A, Series B, Series C E-Commerce, Health Care, Artificial Intelligence $6.3M–$130M
5Y Capital
VC Fund
21 China, United States, India Series A, Series B, Series C Artificial Intelligence, Biotechnology, Software $5M–$400M
Seeds Capital
VC Fund
21 Singapore, United States, Hong Kong Seed, Series A, Series B Software, Biotechnology, Health Care $767k–$45M
UntroD Capital
VC Fund
21 Japan, Singapore, Austria Seed, Series A Manufacturing, Biotechnology, Medical $2M–$241M
Access all 50 VC funds in Asia Hardware startups.

Access 48,091 investors

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

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Investor list

Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 69 investments in Asia Hardware 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: 216
  • Round size: Seed $7M–$29M; Series A $2.8M–$71M; Series B $5.5M–$145M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Zero One Auto — Zero One Auto is a new energy-efficient heavy-duty truck developer company.Zero One Auto creates new energy-efficient heavy-duty vehicles with advanced autonomous driving characteristics. The first batch of products is separated into two models, with an emphasis on the new energy heavy-duty truck short-distance freight market.
  • Infinigence — Wuwen Core Dome is dedicated to providing AGI computing power solutions based on its large model energy efficiency optimization tools, with the goal of resolving the challenge of efficient and unified deployment of large model algorithms to large computing power chips.
  • Industrial Next — Industrial Next develops the fundamental technologies for flexible and intelligent production automation, beginning with intelligent vision, for which we are jointly creating the hardware and software to work in unison.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 59 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 368
  • Round size: Series A $1.4M–$142M; Series B $13M–$142M; Series C $4.3M–$142M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • ATAPEX — ATAPEX aims to break the domestic mass production gap of ultra-precision metal sheet processing. Its product business covers Display panel, display terminal, VR/AR display, including Divide Open Mask for AMOLED, Divide Fine Metal Mask, Micro OLED Open Mask for silicon-based OLED, metal support sheet for display terminal and other high-endultra-fine processing products, connected in series A related industry chain to help customers solve various problems such as less choice of related products, unstable quality, long delivery time etc.
  • Tauren — Tauren is a domestic and hybrid design enterprise of analog and analog-digital chips. At present, the company has won the recognition of the top first-line customers and the strong support of the first-line investment institutions; in the future, it will continue to cultivate the analog and analog-digital hybrid design track, and provide highlycompetitive standardized products for the market landing demand. Provide customers with stable and first-class quality semiconductor products.
  • LinearX — Lingnian Technology is a software company that provides mass-production-level operating systems for intelligent driving vehicles. It has created high-security, high-real-time in-vehicle middle-layer platform software. Lingnian uses self-developed dual-communication middleware to achieve reliable data transmission of heterogeneous chips.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 57 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 716
  • Round size: Series A $5M–$64M; Series B $10M–$100M; Series C $15M–$142M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Fitlens — Fitlens
  • Duet — Duet is a dating application helps you find meaningful relationships based on shared interests and experiences.
  • Woof — Woof is a street fashion community and e-commerce platform for young generations.
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Shunwei Capital
VC Fund · Beijing, Beijing, China · 56 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 408
  • Round size: Series A $1.4M–$41M; Series B $8.2M–$50M; Series C $20M–$130M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • CertiK — CertiK, the largest Web3 security service provider, uses AI and formal verification to protect and monitor smart contracts and protocols, securing the Web3 ecosystem.
  • Darma — DARMA - Digital Healt
  • 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.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 55 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 195
  • Round size: Seed $425k–$27M; Angel $300k–$3.7M; Series A $1.4M–$14M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Noitom Robotics — Noitom Robotics is an intelligent robot development company specializing in the sales, installation, and maintenance of industrial robots, as well as the sale of consumer robots and the research and development of intelligent robots.
  • Anquan Digital Intelligence — Anquan Digital Intelligence is an internet security technology service provider specializing in network security breach detection and defense, data risk and protection, artificial intelligence.
  • Shenzhen Biang Core Technology
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HSG
VC Fund · Beijing, Beijing, China · 54 investments in Asia Hardware startups, 10 in the past 12 months

We help founders build enduring companies.

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Investment focus

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

Investor stats

  • Total investments: 751
  • Round size: Series A $4.4M–$100M; Series B $12M–$200M; Series C $26M–$214M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • MarqVision — Effortlessly discover and remove counterfeits to protect your sales and reputation.
  • Midas — Midas is the first neobroker of Turkey, providing zero commission Turkish and American stocks.
  • Yunzhou Zhiwei — Yunzhou Zhiwei is a high-tech startup focused on serving large-scale equipment maintenance industries such as aviation, aerospace, shipbuilding, and rail transit. It leverages smart maintenance concepts and advanced digital technologies to make complex equipment maintenance more efficient and lean. The company drives industrial transformationtoward intelligent maintenance, helping enterprises enhance growth, efficiency, and operational excellence.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 49 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 264
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$43M; Series B $2.8M–$50M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • HUAUN — HUAUN is a security vendor that focuses on vulnerability management and AI offense and defense.
  • Sinsegye — Sinsegye operates as a product-driven enterprise company. Sinsegye is an industrial control supercomputing infrastructure supplier.
  • Digital China — Digital China is a robotics company focused on developing humanoid interactive robots that can break traditional boundaries and create emotionally resonated partners.
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ZhenFund
VC Fund · Beijing, Beijing, China · 48 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 357
  • Round size: Seed $413k–$20M; Angel $425k–$5.7M; Series A $1.4M–$28M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — raised $130M in 2022

Portfolio highlights

  • ChatCut — ChatCut lets you edit videos using natural language. Remove repeated takes, restructure content, and cut down for social media with simple prompts. Perfect for interviews and documentaries.
  • Pingxin Technology — Pingxin Technology aims to transform and accelerate the advancement of AI computing by fully integrating data storage and computing into a combined chip architecture, cutting costs and improving efficiency.
  • Xiangke Intelligence — Tsinghua University, Beijing University of Aeronautics and Astronautics, computer and robotics professionals, and industrial serial entrepreneurs founded Xiangke Intelligence. It was established by the former founder of "Speed Technology" and the general manager of SharkNinja China Robot R&D Centre.
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IDG Capital
VC Fund · Beijing, Beijing, China · 47 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 705
  • Round size: Series A $3M–$112M; Series B $7.4M–$142M; Series C $14M–$190M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Polymaker — Polymaker is a high quality 3D printing filament manufacturers. PLA, PETG, ABS, ASA, TPU, Nylon, PC, Carbon Fiber and more. Find the best filament for your application.
  • Ripple — Discover why hundreds of financial institutions choose Ripple to provide a better international payments experience for their customers in real-time.
  • Singularity Energy Technology — Singularity Energy is committed to core technology research and product development in advanced energy storage systems, and contributes industry-leading solutions to promote large-scale clean energy integration and achieve global carbon neutrality goals.
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 46 investments in Asia Hardware 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
  • Geography: China, Hong Kong, Singapore

Investor stats

  • Total investments: 270
  • Round size: Series A $1.4M–$28M; Series B $11M–$43M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Heguang New Energy — Heguang New Energy is China's largest producer of square silicon cores for polysilicon and has long-term and stable purchase agreements with a number of major polysilicon producers.
  • Matrix Software — Matrix Software is a research organization that focuses on the analysis, management, and prevention of information technology risks.
  • Nanzhi Core Material — Nanzhi Core Material is a research and development manufacturer of optical grade lithium niobate crystal.
Show all investments...

Access 48,091 investors

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

Browse database — It's Free!
Matrix Partners China
VC Fund · Beijing, Beijing, China · 45 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 432
  • Round size: Series A $2.8M–$60M; Series B $9.5M–$113M; Series C $14M–$200M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Lexin — LexinFintech Holdings is an online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng online investment platform, and theCompany's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions. By serving the credit needs of China's educated young adults, Lexin helps its more than 20 million registered users to enjoy a better quality of life through the use of better credit.
  • Ouli Biomedical — Ouli Biomedical is a pharmaceutical company. They offer nucleic acid drug discovery, laboratory research and development, process and analysis development, CMC services, API production, and drug registration.
  • Ucello Therapeutics — Ucello Therapeutics is engaged in development of allogeneic cell therapies using its proprietary CAR-T cell technology platform CBT-X20.
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Oriental Fortune Capital
VC Fund · Shenzhen, Guangdong, China · 41 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 217
  • Round size: Seed $2.8M–$74M; Series A $1.4M–$30M; Series B $2.9M–$100M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Spectrum-Dynamics — attenuation correction, deep learning, stress test, CTLC, Nuclear Medicine, Digital SPECT, CZT
  • Technological Innovation — Technological Innovation is a provider of brain-computer interface (BCI) technology research and development, as well as application services.
  • Photoacoustic Pharmaceuticals — Photoacoustic Pharmaceuticals is an innovative developer of photosensitizers and related products. It is committed to advancing the development of dynamic photoacoustic therapy.
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Oriza Seed Capital (Oriza Yuandian)
VC Fund · Suzhou, Jiangsu, China · 37 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 128
  • Round size: Seed $213k–$14M; Angel $425k–$2.1M; Series A $1.4M–$90M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Chuguang 3D — Chuguang 3D is a optical micro-nano 3D sensor technology platform that focuses on research and development, and manufacturing of micro-nano-level optical three-dimensional sensing and measurement and testing instruments.
  • Null Hypothesis — Null Hypothesis is an AI medical SaaS company that focuses on the development of intelligent medical products using AIGC.
  • Stairway Medical — Stairway Medical is a developer of implantable brain-computer interface technology.
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SZHTI Group
VC Fund · Shenzhen, Guangdong, China · 33 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 117
  • Round size: Angel $425k–$1.4M; Series A $780k–$14M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Elegoo — ELEGOO specializes in the research, development, and production of the most quality & affordable 3D printers, Arduino-based STEM & robotic kits, making technology easy-to-access for all the makers around the world.
  • Junyi Technology — Shenzhen Junyi Technology Co., Ltd. is one of the world's leading OLED vapor deposition metal mask manufacturers. Its business includes OLED metal mask R&D, production and manufacturing, as well as supporting cleaning and maintenance services. Its customers cover CSOT, Truly Semiconductor, Royole Technology, Wuhan Tianma, BOE and otherdomestic OLED panel companies.
  • Zhiqin Instruments — Zhiqin Instruments is an instrument supplier that offers full solutions for analysis and testing to important industries based on its own rapid detection mass spectrometer.
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SOSV
VC Fund · Princeton, New Jersey, United States · 32 investments in Asia Hardware startups, 75 in the past 12 months

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • MixRift — MIXRIFT - game developers specialized in Mixed Reality
  • unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
  • Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 32 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 135
  • Round size: Seed $98k–$14M; Series A $298k–$20M; Series B $197k–$50M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • AutoMQ — AutoMQ is a S3 based serverless reinvented Kafka that is easily scalable,cost-effective: shared storage,100% compatible with Kafka,no partition data copy, 10x cheaper than Kafka.
  • GravityXR — GravityXR is an XR chip developer and a terminal equipment manufacturer serving the XR (AR/VR/MR) field, providing chip platforms for virtual reality, augmented reality and mixed reality as well as supporting hardware solutions, including platforms A complete set of technical services including software and technology suites includingapplication interfaces, key component selection, product prototype development support, etc.
  • Lingyu Intelligence — Lingyu Intelligence engages in the manufacturing and sales of industrial robots, intelligent robots and service consumer robots.
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Green Pine Capital Partners
VC Fund · Shenzhen, Guangdong, China · 32 investments in Asia Hardware startups

Shenzhen Green Pine Capital Partners Co. Ltd. (“GPCP”) was established in 2007, with the investment team assembled in 2000. GPCP is one of the most time-honored Chinese VC companies that boast experience in areas such as biotech, new materials, new resources and AI, etc. Currently, GPCP manages assets over 15 billion RMB through 21 special fundsand have invested 7 billion RMB into 388 enterprises among which 14 are listed on NEEQ and 48 of them are either listed or acquired by listed companies, including BGI(300676.SZ), Aurora(600666.SH), Nationz Tech(300077.SZ), Foresee(002530.SZ), Qudian(NASDAQ:QD), etc. GPCP invested in the angel round of BGI (Beijing Genomics Institute), Royole, Kuang-Chi, Appotronics, BMF, C-one, Arrayed Materials and other star enterprises.GPCP is based in Shenzhen, with branches in Beijing, Shanghai and Guangzhou. GPCP also runs two GPI incubators and an incubator for overseas Chinese scientists who start businesses in China.

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Investment focus

  • Industry: Biotechnology, Software, Manufacturing
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 166
  • Round size: Angel $425k–$2.9M; Series A $1.4M–$100M; Series B $4M–$150M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2019

Portfolio highlights

  • MindRank AI — MindRank AI is a developer of proprietary end-to-end AI-driven drug discovery platform (Molecule Pro™).
  • Ruitai Biotechnology — Ruitai is a developer for ophthalmic regenerative medicine, specialising in the R&D and sale of repair materials and medical device products
  • Signet Therapeutics — Signet Therapeutics is a cutting-edge firm that conducts research and development on cancer-targeted drugs using AI and organoid disease models.
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Oriza Holdings
VC Fund · Suzhou, Jiangsu, China · 31 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 183
  • Round size: Series A $1.7M–$43M; Series B $10M–$100M; Series C $14M–$200M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • TuringQ — Established in February 2021, TuringQ is committed to the research of quantum information. Through the R&D of lithium niobate on insulator (LNOI) photonic chips and femtosecond laser direct writing technology, the photon chips that enable large-scale photonic circuits integration can be prepared and an optical quantum system with a whole newlevel of scale and complexity can be built. At present, TuringQ has achieved leading advantages in photonic quantum chips, scientific research-grade photonic quantum computers, photonic quantum measurement and control systems, photonic quantum EDA software, and photonic quantum cloud platforms.
  • Gazer — Gazer is a semiconductor equipment and sensor developer, focusing on the research and development, and innovation of sensing and control technology.
  • Supermag — Suzhou Supermag Intelligent Technology Co., Ltd. (hereinafter referred to as Suci Technology) is committed to the research and development, production and sales of maglev high-speed motors. With the design authorization of magnetic levitation compressors, magnetic levitation blowers, magnetic levitation pumps, etc., it provides core components suchas magnetic levitation motors, magnetic levitation bearings, magnetic levitation controllers, and displacement sensors.
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Baidu Ventures
VC Fund · Beijing, Beijing, China · 31 investments in Asia Hardware startups

Doma Protocol is a purpose-built blockchain to modernize and unlock the liquidity of over 362M existing and future domains

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Investment focus

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

Investor stats

  • Total investments: 200
  • Round size: Seed $1.9M–$14M; Series A $1.4M–$42M; Series B $8M–$145M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Zeabur — A platform that help you deploy your service with one click, No matter what programming language you use, what framework you use.
  • Fastlane — We take innovative brands global. Fastlane is a full-service D2C solutions provider that assists enterprises with brand development, business infrastructure, and sales creation/growth in European, North American and Asian markets. We offer a superior one-stop solution, with expertise in go-to-market strategy, traditional and digital marketing,PR, logistics, e-commerce, sales, and platform development. We work with companies big and small, and our custom-tailored solutions range in scope from basic consulting services to 360° turnkey operations.
  • Automation Hero — Reduce your company's document processing time with an intelligent automation platform that's simple, secure, and accurate.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 30 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 236
  • Round size: Seed $1.3M–$100M; Series A $4.3M–$40M; Series B $11M–$62M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — raised $375M in 2021

Portfolio highlights

  • VOC AI — VOC AI offers AI tools for ecommerce insights and customer service solutions.
  • RootData — RootData operates as a Web3 asset data platform that pioneers in encapsulating both on-chain and off-chain data of Web3 assets.
  • Spiro Medical — Spiro Medical is revolutionizing the treatment paradigm for patients with severe, chronic airway diseases.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 29 investments in Asia Hardware startups

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, Robotics
  • Stage:Angel, Series A, Seed
  • Geography: China, United States, Philippines

Investor stats

  • Total investments: 124
  • Round size: Seed $411k–$14M; Angel $425k–$28M; Series A $1M–$28M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $187M in 2020

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.
  • Lanxin Computing — Lanxin Computing is a high-performance chip design company that focuses on the research and development of CPUs with RISC-V ecosystems.
  • Visinex Technology — Visinex Technology is a technology company that manufactures and develops application processor chips.
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Incubate Fund
VC Fund · Tokyo, Tokyo, Japan · 29 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 269
  • Round size: Seed $362k–$46M; Series A $5.2M–$113M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — raised $2.4B in 2021

Portfolio highlights

  • Letara — Letara operates a space technology platform with the intention to serve a logistics network covering the solar system. The company produces hybrid propulsion engines for small spacecraft, promoting groundbreaking advances in space propulsion with high thrust, safe, and inexpensive propulsion system technology.
  • Akari Hosho — Akari Hosho provides a group of trusted professionals, including lawyers and judicial scriveners. Akari Hosho provides a guarantee service.
  • Black Cat Carnival — Black Cat Carnival Inc. is a communication service development company.
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Yunqi Partners
VC Fund · Shanghai, Shanghai, China · 29 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 175
  • Round size: Seed $3.2M–$29M; Series A $4.3M–$30M; Series B $10M–$60M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $300M in 2021

Portfolio highlights

  • X-Times — X-Times focus on independent research and development of a new generation of digital chips to realize EDA technology.
  • AI² Robotics — AI² Robotics is an embodied intelligent robot company that offers research and development of general intelligent embodied terminals.
  • Neolix — Neolix is a technologically innovative company that specializes in the production of physical and sports scenes. Neolithic Century Technology is an innovative design team. Committed to design research, industrial design, structural engineering, product customization, providing customers with creative value enhancement services. Service customersinclude Lenovo, Siemens, Midea, GE, State Grid, CSIC, Honeywell, Bank of China, Agricultural Bank, etc.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 29 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 462
  • Round size: Series A $2M–$113M; Series B $6.4M–$397M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Sotas — Sotas provides services to chemical trading companies and bridges the gap between raw material producers and consumers.
  • PartnerProp — PartnerProp is a PRM tool with outstanding potential and a wide variety of capabilities that resolves all partner business difficulties.
  • Infobox — Infobox is a sales data platform that includes every detail from market research to creating a list of companies and contacting decision-makers.
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Yinxinggu Capital
VC Fund · Hangzhou, Zhejiang, China · 29 investments in Asia Hardware startups

Yinxinggu Capital is an investment platform that focuses on early investment opportunities in emerging industries, such as in retail and manufacturing, promoting the digital upgrade of the industry. The firm was jointly initiated by Slan Holdings, Huali Group, Huari Industrial, Jinggong Group, and Wanfeng Auto.The company was founded in 1997 andis based in Hangzhou, China.

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Investment focus

  • Industry: Manufacturing, Information Technology, Software
  • Stage:Series A, Angel
  • Geography: China, Singapore

Investor stats

  • Total investments: 157
  • Round size: Angel $425k–$14M; Series A $1.4M–$15M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Lanxin Computing — Lanxin Computing is a high-performance chip design company that focuses on the research and development of CPUs with RISC-V ecosystems.
  • Linghou Robotics — Linghou Robotics is a core component supplier focusing on intelligent manufacturing and industrial automation, integrating R&D , production, sales and service.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 28 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 257
  • Round size: Seed $2.8M–$57M; Series A $2.8M–$73M; Series B $14M–$110M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • PDD Holdings — Pinduoduo is an e-commerce platform allowing users to participate in group buying deals, mostly through Tencent’s Wechat app. The company was founded in 2015 and is based in Shanghai, China.
  • Linton Automobile — Linton Automobile is a manufacturer of automotive accessories and parts.c
  • Cornerstone Robotics — Cornerstone Robotics operates to improve the accessibility of high-end medical services in China.
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East Ventures
VC Fund · Tokyo, Tokyo, Japan · 28 investments in Asia Hardware startups

East Ventures is an early stage venture capital (VC) focused on Southeast Asia, Indonesia & Japan. Success cases include Tokopedia, Traveloka, and Mercari.

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Investment focus

  • Industry: Software, Information Technology, Internet
  • Stage:Seed, Series A
  • Geography: Japan, Indonesia, Singapore

Investor stats

  • Total investments: 444
  • Round size: Seed $649k–$18M; Series A $2.1M–$38M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Base — Personalized skincare formulated
  • Anyplace — Find furnished accommodations to rent for a month or longer. Choose apartments catered for remote work with an equipped home office and high-speed internet.
  • Moi — Moi Corporation was founded to deliver on the promise of the Twitcasting social live streaming platform. We developed Twitcasting to enable people to stream and share live video anytime, anywhere - connecting the world in real-time. TwitCasting provides a live streaming social platform that enables real-time chat between broacasters andviewers, through apps or desktop. Users can follow their favorite broadcasters and receive notifications when new a new live stream is about to start. Broadcasters can save and publish their live streams for later viewing.In early 2014 we added "Collabo" to Twitcasting, enabling as many as 6 users to broadcast together, in a single display. Viewers can join a broadcast that is already streaming live and broadcast together. It is the first app to support multi-device broadcasting in a single stream on mobile and PC. Our user base has doubled every year, and hit 7.5 million in September, 2014. While the largest part of our base is in Asia, users in US, Brazil, Mexico and other Latin American countries are now growing rapidly. About 70% of our users are under 25 years old, & approximately 95% of broadcasters shoot on mobile. 
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Drone Fund
VC Fund · Tokyo, Tokyo, Japan · 27 investments in Asia Hardware startups

Drone Fund is a venture capital firm that provides supports in IP strategy, innovative planning, and drone policy. It offers capital investment and financing and aims to create a Drone Ecosystem where LPs and startups can benefit from membership within the Drone Fund.

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Investment focus

  • Industry: Drones, Robotics, Aerospace
  • Stage:Seed, Series A
  • Geography: Japan, United States, Canada

Investor stats

  • Total investments: 70
  • Round size: Seed $2.2M–$18M; Series A $2M–$213M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $1.5B in 2020

Portfolio highlights

  • Metro Weather — Metroweather is a venture from Kyoto University that develops a high-performance Doppler lidar that measures the direction and speed of wind several tens of kilometers away from minute movements of fine particles in the atmosphere. We aim to contribute to the safety of the sky by completing a three-dimensional wind map, which has never beenrealized,based on years of research at the Kyoto University Research Institute for Sustainable Areas.
  • SORA Technology — SORA Technology builds and operates health care and public health infrastructure utilizing drones and their operational management systems.
  • Japan Wind Tunnel Manufacturing — JAPAN FUDO is a company that develops and manufactures new products related to wind, such as the world's most compact wind tunnel "Aero Optim" series and double propeller wind turbines.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 27 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 235
  • Round size: Seed $425k–$73M; Series A $1.4M–$40M; Series B $2.8M–$56M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $780M in 2021

Portfolio highlights

  • Deep Robotics — Deep Robotics specializes in the application of the global quadruped robot industry. The founding team is rooted in Zhejiang University and has more than ten years of robotics research and development background. It is a high-tech company that attaches great importance to research and development and takes core technology as its maincompetitiveness. Sunshine has mastered the key core technology of quadruped robot motion control and has a number of independent and controllable intellectual property rights. The self-developed "Jueying" series of robots have reached the advanced level among similar products in the world and has been the first to be put into use in electric power, tunnel, fire protection, security, and other fields. Since its establishment in 2017, Yunshen has completed the R&D and sales layout of four series of products conducted multiple rounds of financing and built a complete organizational system. With the increasingly mature application of the quadruped robot industry, the company has entered a channel of rapid development.
  • Tongjia Hongrui Technology — Tongjia Hongrui Technology specializes in providing dry vacuum pump equipment and system technology services to the semiconductor sector.
  • Tongli Haiyuan Biotechnology — Tongli Haiyuan Biotechnology focuses on the R&D and production of GMP-grade core raw material reagents for upstream cell and gene therapy.
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Xiaomi
VC Fund · Beijing, Beijing, China · 27 investments in Asia Hardware startups

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Investment focus

  • Industry: Manufacturing, Software, Hardware
  • Stage:Series A, Series B, Series C
  • Geography: China, India, United Kingdom

Investor stats

  • Total investments: 194
  • Round size: Series A $1.4M–$71M; Series B $2.8M–$60M; Series C $14M–$400M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • ShareChat — ShareChat is India's own social network in 14 Indian languages Install ShareChat from Google Play Store for FREE!
  • AIpark — AIpark is provides a smart parking management solution. AIPark upgrades traditional parking spaces into “smarter ones” for local governments or businesses by leveraging on its in-house visual recognition technologies.
  • WELINK — Well-Link is a domestic provider of video cloud solutions. Its core technical team is a pioneer in the field of cloud games in China, with over ten years of research experience in the field. Console games, online games, Android games, and so on can all easily enter the cloud. Weiling Times has begun extensive collaboration with a number of leadingdomestic cloud server providers. Weiling cloud game solutions can be deployed quickly and efficiently regardless of the cloud server used.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 27 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 201
  • Round size: Seed $1.4M–$10M; Angel $425k–$6M; Series A $1.4M–$16M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Huimaiche — Huimaiche is a company that provides full-chain solutions for new retail in the automotive industry. It is an Internet-based high-tech company that combines online system development, brand management, full-brand automobile sales, aftermarket integration, and new retail in life.
  • Shala Shike — Shala Shike is a supply chain technology company that focuses on catering, dining, salad carving service, cold chain distribution, and smart machine unmanned sales services.
  • Guangyin Technology — Guangyin Technology focuses on the research and development and production of perovskite photovoltaics. Guangyin Technology provides low-cost renewable and clean energy solutions.
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China Fortune-Tech Capital
VC Fund · Shanghai, Shanghai, China · 26 investments in Asia Hardware startups, 13 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 78
  • Round size: Series A $14M–$156M; Series B $12M–$213M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Linghou Robotics — Linghou Robotics is a core component supplier focusing on intelligent manufacturing and industrial automation, integrating R&D , production, sales and service.
  • Sioux Technologies — Sioux Technologies is a manufacturing company offering core precision modules and subsystem solutions for semiconductor equipment.
  • Pengxi Semiconductor — Pengxi Semiconductor is a developer of CIM systems for semiconductor integrated circuit manufacturing. The company focuses on CIM systems for semiconductor integrated circuit manufacturing and is committed to realizing the localization and intelligentization of core software for semiconductor manufacturing. Its core technologies cover multiple keyaspects such as manufacturing execution, equipment automation, yield management, and data platform.
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Wavemaker Ventures
VC Fund · Singapore, Central Region, Singapore · 26 investments in Asia Hardware startups

Wavemaker Group is a cross-border venture capital firm founded in 2003 and one of the most active early-stage investors across multiple funds.

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Investment focus

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

Investor stats

  • Total investments: 319
  • Round size: Seed $920k–$5M; Series A $3M–$20M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $136M in 2022

Portfolio highlights

  • RateIt — An omni-channel CX platform that captures, interprets & analyses customer feedback in ways that makes it easy to see the right moves to make.
  • Groundup.ai — Groundup.ai provides sound sensor, condition-based maintenance, internet of things, industry 4.0, condition-based maintenance, predictive maintenance, artificial intelligence, machine learning, computer vision, and safety monitoring services.
  • Mushroom Material — We can match the mechanical properties of polystyrene styrofoam and replace any existing packaging with a sustainable mushroom alternative
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GGV Capital
VC Fund · Menlo Park, California, United States · 26 investments in Asia Hardware startups

We believe the talent to build great companies comes from anywhere. A global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed- to growth-stage investments across Social/Internet, Enterprise Tech, and Smart Tech sectors.

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Investment focus

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

Investor stats

  • Total investments: 658
  • Round size: Series A $5M–$50M; Series B $14M–$60M; Series C $15M–$150M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $366M in 2021

Portfolio highlights

  • Hutouju — Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.
  • Pacdora — Pacdora is an incredibly user-friendly online mockup design platform that boasts an extensive collection of 3D mockups and box templates. Whether you're a seasoned designer or just starting out, you can effortlessly create eye-catching mockups in no time. Plus, with our powerful 3D modeling software and a suite of AI design assistant tools atyour fingertips, your creative possibilities are limitless. Unleash your imagination with Pacdora today!
  • Handshake — The largest expert network for learning, earning, and growing careers in the AI economy, giving everyone an accessible first step into an AI-powered career.
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SMBC Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 26 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 485
  • Round size: Series A $5M–$170M; Series B $7.4M–$425M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Metro Weather — Metroweather is a venture from Kyoto University that develops a high-performance Doppler lidar that measures the direction and speed of wind several tens of kilometers away from minute movements of fine particles in the atmosphere. We aim to contribute to the safety of the sky by completing a three-dimensional wind map, which has never beenrealized,based on years of research at the Kyoto University Research Institute for Sustainable Areas.
  • Good News — Good News is a staffing agency that provides recruitment, public relations, and human resource management services.
  • Okuma Diamond Device — Ookuma Diamond Device Co., Ltd. | Creating a next-generation semiconductor industry from Japan, driven by the mission to support the decommissioning of Fukushima Daiichi Nuclear Power Plant.
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BlueRun Ventures
VC Fund · Menlo Park, California, United States · 25 investments in Asia Hardware startups

BlueRun Ventures is a venture capital firm with offices in the United States, Shanghai, Beijing, and Korea. BlueRun invests in information technology, mobile, and consumer technologies, with an emphasis on mobile opportunities. BRV has invested in over 160 companies, with select exits from PayPal (acquired by eBay), Waze (acquired by Google),Topsy (acquired by Apple), Coupa (NASDAQ: COUP), and more. In 2005, BlueRun changed its name from Nokia Venture Partners. While branded as Nokia Venture Partners, the firm helped to build emerging market leaders such as Airgo, Bitfone, Cornice, PayPal, Wavemarket, and WiderThan.

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Investment focus

  • Industry: Software, Mobile, Robotics
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 240
  • Round size: Seed $1.4M–$11M; Series A $2.9M–$23M; Series B $5.1M–$28M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $493M in 2019

Portfolio highlights

  • Ganji — Ganji.com is a Chinese domestic classified website.As a web portal in China where users publish and exchange information, Ganji.com has been providing a variety of local information, such as estates for rent or sale, jobs, second hand products, used cars, pets, tickets, education, training, group purchase, and more. Targeting the untapped localbusiness market, Ganji.com is building a massive user- and content-focused online community platform where both the users' and local merchants' needs are met.The website aggregates a large amount of real-time information because by the end of June 2011, there were around 890,000 users posting per day.Launched in 2005, the website has reached users in over 343 cities in China with offices in Beijing, Shanghai, Guangzhou, and Shenzhen.The company completed a $70 million Series C round from Capital Today and Sequoia on May 6, 2011. China Renaissance acted as the exclusive financial advisor for Ganji.com.
  • SaveUp — SaveUp is the first free rewards program for saving money and reducing debt. Users earn SaveUp credits for every dollar saved or debt reduced and can use these credits to play for prizes ranging from travel, cars to even a $2M jackpot. While using SaveUp users are provided financial education, suggestions to improve their financial circumstancesand better financial services. SaveUp can be used with 18,000 financial institutions in the US including rewards for savings accounts, 401k, IRA, or reducing debts like credit cards, car loans, student loans and mortgages.
  • BetterCompany — At BetterCompany, it is our mission to help companies connect with best candidates at the best time, when they're looking! We use a blend of art and science to match candidates to roles and companies and we understand that timing is everything.
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Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 25 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 418
  • Round size: Series A $2.7M–$156M; Series B $3.8M–$850M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Logiless — Logiless is a cloud type all-in-one software dedicated to net shop. Since both orders and stocks can be managed together in a logical manner, efficiency of operations can be realized at low cost.
  • ARCS — ARCS specializes in developing assisted reproductive medical devices using robotics and artificial intelligence technology.
  • OpenHeart — OpenHeart is a provider of the tactile 3D platform.
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Source Code Capital
VC Fund · Chaoyang, Liaoning, China · 24 investments in Asia Hardware startups

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

Investor stats

  • Total investments: 247
  • Round size: Series A $2M–$50M; Series B $15M–$99M; Series C $32M–$200M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $580M in 2021

Portfolio highlights

  • YQN — YQNLink specializes in digital logistics, providing a comprehensive suite of international logistics services. This includes sea freight, air freight, rail freight, and multimodal transportation solutions. With a focus on leveraging digital technology, YQNLink aims to enhance supply chain transparency and efficiency, making shipping processessimpler for businesses. The company offers consultative services to tailor logistics solutions to specific business needs, ensuring a streamlined and effective logistics strategy. YQNLink's acquisition of COPE, a cross-border e-commerce logistics firm, further expands its capabilities in serving the e-commerce sector.
  • SeeYA Technology — SeeYA Technology is a high-tech company specializing in R&D, design, production and sales of new-generation semiconductor OLEDoS display, and providing customers with micro-display components, modules and related solutions. There is a comprehensive product line to full fill different demands from AR/VR, drones, thermal devices, nightvision equipment etc.
  • Starna Therapeutics — Starna Therapeutics offers development of innovative drugs with RNA as the core, and has an industry-leading RNA and organ-selective delivery technology platform with independent intellectual property rights; the company has established a rich R&D pipeline , covering infectious disease vaccines, tumor immunity and other fields.
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Glory Ventures
VC Fund · Shanghai, Shanghai, China · 24 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 97
  • Round size: Seed $3M–$14M; Series A $7.1M–$113M; Series B $14M–$227M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Leapting — Leapting uses independent innovation to create smart solar PV solutions. With the aim of "Empowering the World with More Efficient Use of Solar Energy," the company is steadily expanding its business in clean energy systematic integration and pushing the boundaries of clean energy conversion technological breakthroughs.
  • Hengfeng New Materials — Hengfeng New Materials is a producer of electronic-grade phenolic resin and distinctive epoxy resin.
  • 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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Vertex Ventures China
VC Fund · Beijing, Beijing, China · 24 investments in Asia Hardware startups

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

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Investment focus

  • Industry: Manufacturing, E-Commerce, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 157
  • Round size: Seed $3M–$30M; Series A $2M–$26M; Series B $6.7M–$85M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • NEIWAI — NEIWAI is a mid-to-high-end underwear brand that focuses on the comfort of close-fitting clothing.The company created underwear with the design concept of “respecting the feelings of women” and strive to find a balance of comfort, function, and beauty. In the past 5 years, its products have covered the daily, home, sports and other scenes ofwomen and men, and have served more than 200,000 female customers.NEIWAI was founded in Shanghai in 2012.
  • Harbour Biomed — Harbour BioMed is a developer of bio-therapeutics aimed at immuno-oncology and inflammatory diseases. The company engages in discovery and development programs that are centered around two patented transgenic mouse platforms for generating both fully human monoclonal antibodies (H2L2) and heavy chain only antibodies (HCAb) based immune cell engager(HBICETM) bispecific antibodies, thereby enabling medical professionals to generate potential therapeutic antibodies and accelerate drug discovery and development.
  • Sapient Intelligence — Sapient Intelligence is an AI generative company that enables users to solve complex task reasoning in non-autoregressive models with multi-step calculation, memory, and tree search capabilities.
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Walden International
VC Fund · San Francisco, California, United States · 24 investments in Asia Hardware startups

Walden International is unique among US venture firms through its focus on cross-border investments that leverage global markets and talent to grow industry-leading companies. For more than 30 years, their integrated team has brought extensive added value to help companies through capital, relationships and expertise.They look to partner with thebest of the best – entrepreneurs with a strong appreciation for the benefits of leveraging talent and markets independent of geography to gain unfair advantage.Their team brings both extensive venture expertise together with in-depth operating experience to help you grow your company.They invest in early and expansion stage companies across sectors such as Semiconductors, Clean Tech, Internet & Digital Media and Software.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Software
  • Stage:Series B, Series A, Series C
  • Geography: United States, China, Singapore

Investor stats

  • Total investments: 197
  • Round size: Series A $1.4M–$100M; Series B $4M–$50M; Series C $10M–$142M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $123M in 2019

Portfolio highlights

  • Synacor — Best cloud software, business email, collaboration, productivity, IDM, CIAM, TV Everywhere, OTT, portals, digital advertising. Cloud ID | Zimbra | Zimbra Cloud
  • Lucidworks — Capture insights from every action and apply them to the next, delighting customers and empowering employees.
  • Gigabit Optics — Gigabit Optics Corporation is developing the technologies needed to power next generation optical communications products. Combining technical innovations with the growing demands of the optical networking industry, Gigabit Optics has developed a strategic set of products designed to shape the future of optical communications. Gigabit Opticswas founded in June 2000 in the heart of Silicon Valley. Backed by patented optical technologies and venture capital partners, They are poised to become a major provider of high-bandwidth access solutions. Gigabit Optics is growing rapidly and currently accepting resumes. If you are interested in becoming a key member of an innovative optical communications startup, please visit Their careers page.
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QF Capital
VC Fund · Shenzhen, Guangdong, China · 23 investments in Asia Hardware startups

QF Capital is a fund management company that focuses on private equity investments.

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Investment focus

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

Investor stats

  • Total investments: 140
  • Round size: Seed $1.4M–$14M; Angel $425k–$2.1M; Series A $1.4M–$16M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Tianlin — Tianlin Holdings provides robotic intelligent construction services, with a focus on creating an ecosystem that includes intelligent construction robots, green building materials, and intelligent construction digital platforms.
  • Qifasuan — Qifasuan is a technology company specializing in AI-driven pet health solutions.
  • Puyu Technology — Puyu Technology is committed to providing high-performance micro-nano manufacturing solutions.
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Frees Fund
VC Fund · Beijing, Beijing, China · 23 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 194
  • Round size: Seed $1.4M–$14M; Angel $425k–$17M; Series A $1.4M–$35M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • SoundAI — Sound Technology is a science and technology innovation company that specializes in acoustics frontier technology and artificial intelligence interaction. It is committed to lead the more interactive experience of artificial intelligence in the real environment and realize the human-computer interaction vision that "listen to you and know whatyou think".
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
  • Optical Standard Technology — Optical Standard Technology focuses on the design and manufacture of optical computing chips and optical computing boards for use in scenarios requiring large amounts of AI computing power, such as large model reasoning and training, autonomous driving, smart cities, quantitative finance, AI security.
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Summitview Capital
VC Fund · Beijing, Beijing, China · 23 investments in Asia Hardware startups, 9 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 commercialsuccess 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, Semiconductor, Electronics
  • Stage:Seed, Series A, Series B
  • Geography: China, United States

Investor stats

  • Total investments: 76
  • Round size: Seed $411k–$241M; Series A $14M–$143M; Series B $7.3M–$142M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $1.7B in 2014

Portfolio highlights

  • ModelBest — Mianbi Smart enables large-scale model acceleration and application execution using artificial intelligence.
  • Pengxi Semiconductor — Pengxi Semiconductor is a developer of CIM systems for semiconductor integrated circuit manufacturing. The company focuses on CIM systems for semiconductor integrated circuit manufacturing and is committed to realizing the localization and intelligentization of core software for semiconductor manufacturing. Its core technologies cover multiple keyaspects such as manufacturing execution, equipment automation, yield management, and data platform.
  • Yuanli Semiconductor — Yuanli Semiconductor develops and supplies an innovative AI computing power infrastructure.
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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 23 investments in Asia Hardware startups

Tsinghua Capital is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 70
  • Round size: Seed $1.4M–$73M; Angel $425k–$14M; Series A $2.3M–$17M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Qinghao Puzhong — Qinghao Puzhong is a technological development and manufacturing company that produces resin-infiltrated ceramic-based dental restoration materials.
  • Zhiyuan Shenlan — Zhiyuan Shenlan focuses on data-driven biomolecule design and manufacturing.
  • Sober Heterogeneity — Sober Heterogeneity provides a complete set of system software and performance optimisation solutions for AIOT and HPC+AI.
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Iflytek
VC Fund · Hefei, Anhui, China · 22 investments in Asia Hardware startups

Anhui USTC iFLYTEK Science and Technology Co., Ltd. (科大讯飞) is a software enterprise focused on the research of intelligent speech and language technologies, development of software and chip products, provision of speech information services, and integration of e-government systems.As a key supplier of intelligent speech technologies, USTCiFLYTEK holds long-term research experience in the field of intelligent speech technologies, and reputed achievements in a variety of technologies such as speech synthesis, speech recognition and spoken language evaluating.

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $142k–$99M; Angel $425k–$21M; Series A $1.4M–$15M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Liangyi Wanxiang — Liangyi Wanxiang is focuses on complete machines, product R&D, and technological innovation in atomic quantum computing.
  • Chengdu RainZhiLingdong Technology — Chengdu RainZhiLingdong Technology is a robotics company that offers an AI powered bionic plush pet toy.
  • Anhui Xinglian Artificial Intelligence Technology — Anhui Xinglian Artificial Intelligence Technology develops artifical intelligence application software.
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Vision Plus Capital
VC Fund · Hangzhou, Zhejiang, China · 22 investments in Asia Hardware startups

Vision Plus Capital (also known as Yuan Jing Capital) focuses on the Internet innovation, consumer upgrades, digital medical, intelligent technology four areas, the RMB and the dollar double currency investment. Yuan Jing Capital for the start-up enterprises to provide multi-faceted help, including the introduction of talent, strategy carding,operational upgrading, financing strategies.Founded in 2015, it was composed of team members for first-line Internet company's core positions of experts and domestic first-tier VC senior investors, for the start-up companies to provide practical experience and team support.

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Investment focus

  • Industry: E-Commerce, Health Care, Artificial Intelligence
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 168
  • Round size: Series A $6.3M–$60M; Series B $6.5M–$57M; Series C $15M–$130M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Fantuan — Order food with Fantuan Delivery. Get the best Asian food delivered to your door from your favorite local restaurants. Everyday promotion.
  • Better Medtech — Better Medtech is a provider of innovative solutions for urinary and pelvic floor health. Its primary business is the research and development, production, sales, and related services of specialized medical devices, with a focus on creating comprehensive and precise revolutionary products in markets such as benign prostatic hyperplasia, urinaryincontinence, stones, and novel tumour therapies.
  • Postek Electronics Co. — Postek Electronics Co. is a printing machine manufacturing company that offers the OX series, TX series, GX series, and MX series.
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5Y Capital
VC Fund · Xuhui, Shanghai, China · 21 investments in Asia Hardware startups

5Y Capital is a firm engaged in providing early-stage venture investments. It was formerly known as Morningside Venture Capital. The investment firm manages USD 5bn in dual-currency funds in USD and RMB, backed by world-renowned sovereign wealth funds, family offices, fund of funds, university endowments, pensions, and foundations. It is aninvestment firm of Morningside Group.It was headquartered in Xuhui, Shanghai, China in 2008 by Ken Shi and Richard Liu.

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Investment focus

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

Investor stats

  • Total investments: 225
  • Round size: Series A $5M–$102M; Series B $10M–$227M; Series C $30M–$400M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • ONES.com — Unleash unrivaled collaboration, efficiency, and outcomes by merging human proficiency with Artificial Intelligence.
  • Aureka Biotechnologies — Aureka Biotechnologies is a pioneering biotech firm dedicated to democratizing the pharmaceutical sector in order to conquer sickness.
  • Signet Therapeutics — Signet Therapeutics is a cutting-edge firm that conducts research and development on cancer-targeted drugs using AI and organoid disease models.
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Seeds Capital
VC Fund · Singapore, Central Region, Singapore · 21 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 122
  • Round size: Seed $767k–$5.2M; Series A $3.5M–$24M; Series B $5M–$45M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Datakrew — Datakrew delivers real-time EV battery analytics and AI-powered fleet intelligence. Smarter, safer fleets start here. Explore our solutions.
  • Atomionics — Atomionics is building atomic sensors for navigation and resource exploration. Sensing technology is severely inadequate for a lot of applications navigation and positioning, pinpointing oil and gas reserves, tunnel detection etc. Atomionics builds atomic sensors harnessing quantum mechanical properties of the atoms. This enables measurement ofparameters like gravity, acceleration and rotation with 1000x higher precision and accuracy than the current state of the art, leading to a completely new way of global positioning, and resource exploration.
  • Brano Therapeutics — Brano Therapeutics is a biotech developing therapies for cardio-metabolic and heart failure diseases.
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UntroD Capital
VC Fund · Sumida, Tokyo, Japan · 21 investments in Asia Hardware startups

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

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Investment focus

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

Investor stats

  • Total investments: 119
  • Round size: Seed $2M–$43M; Series A $2.1M–$241M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • CastBio — Castbio specializes in antibody-drug conjugate-based drug discovery research and development. Along with medications, it also creates research reagents, medical equipment, in vitro diagnostic items, and offers drug discovery consulting.
  • Illumi Medical — Illumi Medical is a manufacturing company that produces medical equipment and devices for the healthcare sector.
  • Reborna Biosciences — Reborna Biosciences provides research and development in the field of genetic diseases. The company develops therapeutic options for area of unmet medical needs in genetic rare disease. The company's technology enables low-molecular compounds to target ribonucleic acid. The company provides new disease-modifying drugs for patients sufferingfrom rare genetic diseases including spinal muscular atrophy.
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