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Top 50 Impact VC Funds & Investors in China (July 2026)

The most active venture capital funds investing in China Impact startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Impact startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Matrix Partners China
VC Fund
13 China, United States, Singapore Series A, Series B, Seed Health Care, Biotechnology, Software $1.6M–$113M
Addor Capital
VC Fund
12 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$43M
Cowin Capital
VC Fund
10 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$50M
K2VC
VC Fund
7 China, United States, Japan Series A, Seed, Angel E-Commerce, Manufacturing, Biotechnology $425k–$25M
Shunwei Capital
VC Fund
6 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.4M–$100M
Linear Capital
VC Fund
6 China, Singapore, Switzerland Seed, Angel, Series A Artificial Intelligence, Software, Manufacturing $1.4M–$122M
Zhaoxi Capital
VC Fund
6 China Series A, Series B Manufacturing, Solar, Energy $14M–$219M
Ant Group
VC Fund
6 China, Singapore, Thailand Series A, Series B Information Technology, Artificial Intelligence, Financial Services $1.4M–$217M
Qiming Venture Partners
VC Fund
6 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$134M
Fortune Venture Capital
VC Fund
6 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $425k–$73M
China Merchants Venture Capital
VC Fund
6 China, United States, India Series A, Series B, Series C Manufacturing, Automotive, Internet $1.4M–$170M
Fresh Capital
VC Fund
5 China, Germany Series A, Series B, Seed Energy, Artificial Intelligence, Automotive $1.4M–$211M
HSG
VC Fund
5 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $4.4M–$214M
Shenzhen Capital Group
VC Fund
5 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
NIO Capital
VC Fund
5 China, United States, Germany Series B, Series A, Series C Automotive, Manufacturing, Energy $1.4M–$296M
Gaorong Capital
VC Fund
5 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$120M
Tencent
VC Fund
4 China, United States, United Kingdom Series B, Series A, Series C Software, Financial Services, Artificial Intelligence $3.9M–$400M
Yellow River Delta Industrial Investment Fund
VC Fund
4 China Series A, Angel Carbon Capture, Fuel, Energy
Plum Ventures
VC Fund
4 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $425k–$16M
Hua Capital
VC Fund
4 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Electronics $7M–$145M
Sinovation Ventures
VC Fund
4 China, United States, Singapore Series A, Seed, Series B Software, Artificial Intelligence, Internet $1M–$110M
Hefei Industry Investment Group
VC Fund
4 China, Israel Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $7.1M–$295M
GSR United Capital
VC Fund
4 China, United States, Singapore Series A, Seed, Series B Manufacturing, Robotics, Artificial Intelligence $98k–$50M
Winreal Investment
VC Fund
4 China, Finland Series A, Series B, Seed Manufacturing, Automotive, Hardware $2.8M–$107M
Future Capital Discovery Fund
VC Fund
4 China, United States, Singapore Seed, Angel, Series A Artificial Intelligence, Software, Robotics $425k–$28M
Dongfang Jiafu
VC Fund
4 China Series A, Series B, Seed Manufacturing, Information Technology, Semiconductor $14M–$100M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
4 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.5M–$150M
Flyfot Ventures
VC Fund
4 China Series A, Series B, Seed Robotics, Electronics, Manufacturing $425k–$143M
Contemporary Amperex Technology
VC Fund
4 China, Finland, Australia Series A, Corporate Round, Series B Automotive, Manufacturing, Electric Vehicle $33M–$7.4B
Ding Xiang Capital
VC Fund
3 China Seed, Series A, Angel Manufacturing, Solar, Energy $2.9M–$23M
Innoangel Fund
VC Fund
3 China, United States, Canada Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$20M
Cyber Creation Ventures (CCV)
VC Fund
3 China, United States, Taiwan Series A, Series B Artificial Intelligence, Manufacturing, Software $2.9M–$50M
Daocin Capital
VC Fund
3 China, United States Angel, Series A, Seed Robotics, E-Commerce, Enterprise $425k–$15M
Gopher Asset Management
VC Fund
3 China, United States, Portugal Series C, Series A, Series B Internet, Service Industry, Financial Services $1.4M–$213M
CMBC International Asset Management
VC Fund
3 China, United Kingdom Seed, Angel, Series B Energy, Manufacturing, Nuclear
QF Capital
VC Fund
3 China, Hong Kong, United States Series A, Angel, Seed Artificial Intelligence, E-Commerce, Software $425k–$16M
Hongtai Fund
VC Fund
3 China Series A, Series B, Seed Manufacturing, Electronics, Semiconductor $2.2M–$709M
CrestValue
VC Fund
3 China, United States Series A, Seed Manufacturing, Software, Information Technology $695k–$14M
Everstate Capital
VC Fund
3 China Seed, Series B Energy, Manufacturing, Solar $2M–$28M
China Capital Management
VC Fund
3 China Series A, Series B, Series C Manufacturing, Aerospace, Semiconductor $427k–$283M
Keyuan Industry Fund
VC Fund
3 China, United States Series A, Seed Manufacturing, Biotechnology, Biopharma $12M–$21M
Midea Group
VC Fund
3 China, Germany, United States Series A, Series C, Series B Manufacturing, Software, Robotics $1.1M–$19M
CGN Industrial Investment Fund Management
VC Fund
3 China Seed, Series A, Series C Manufacturing, GreenTech, Automotive $22M–$72M
CICC Capital
VC Fund
3 China, Hong Kong, United States Series B, Series A Manufacturing, Medical, Health Care $3.8M–$205M
Citic Environment
VC Fund
3 China Series A, Angel Manufacturing, Energy, Sales $14M–$14M
Fenghe Capital
VC Fund
3 China, United States, Singapore Seed, Series A, Series C Battery, Manufacturing, Energy $28M–$638M
Caixin Capital
VC Fund
3 China Series A, Series B, Series C Manufacturing, Biotechnology, Drones $1.4M–$200M
Tsinghua Capital
VC Fund
3 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Biotechnology $425k–$74M
CDH Investments
VC Fund
3 China, United States, Canada Series A, Series B, Series C Manufacturing, Biotechnology, Health Care $7.1M–$300M
Guangdong Technology Financial Group
VC Fund
3 China, Japan, Hong Kong Series A, Angel, Series B Manufacturing, Software, Information Technology $425k–$295M
Access all 1058 VC funds in China Impact startups.

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

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Investor list

Matrix Partners China
VC Fund · Beijing, Beijing, China · 13 investments in China Impact 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, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 459
  • Round size: Seed $1.6M–$32M; Series A $2.9M–$57M; Series B $10M–$113M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • TT Yuyin — Quwan provides services including instant voice messaging, social gaming, esports, and game distribution. It operates TT Voice, which started as a voice chat application designed for mobile gamers and was later developed into a social gaming platform. It focuses on developing personalized services for the Gen Z audience.
  • Huangbaoche — Huangbaoche is a travel service providing tour packages and booking services. Huangbaoche has over 100,000 Chinese-speaking drivers and tour guides providing airport pick-up services, chartered car services, and guided tours in over 1,500 overseas travel destination cities in 80 countries.
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 12 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 323
  • Round size: Seed $1.4k–$14M; Series A $1.4M–$28M; Series B $11M–$43M
  • Lead/follow: 51% lead, 49% follow

Portfolio highlights

  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Letuo Technology — Letuo Technology is a ASIC chip design & manufacturing firm focused on architecture and back end design, RTL coding, DFT, and synthesis.
  • Sichuan Ingia Biosynthetic — Looking for the best stevia manufacturers and wholesale suppliers? Look no further! Ingia Bio is the top natural sweetener manufacturer with a focus on precision fermentation. Find out why we're the best in the business!
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 10 investments in China Impact 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: 306
  • Round size: Seed $1.4M–$20M; Series A $4.3M–$41M; Series B $2.8M–$50M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • QYSEA — QYSEA FIFISH 4K underwater video camera is combined with the world's advanced techniques, supports 20-megapixel photos shooting in various conditions. QYSEA underwater ROV drone with great durability & design. QYSEA - professional underwater drone manufacturer!
  • Bytetree — Bytetree is a technology company that focuses on providing the one-stop AI data services for data collection, cleaning, labeling, management, and storage for OEMs and autonomous driving solution providers, covering bicycle intelligence. , vehicle-road coordination, and smart cockpit three scenarios.
  • Yinli Electric — Ningxia Yinli Electric Co., Ltd. is mainly engaged in the production and research and development of reactors and transformers. At present, the company's main products include: three-phase filter reactors, four-phase five-column reactors, water-cooled reactors, three-phase AC reactors, hollow core Reactors, isolation transformers andhigh-frequency transformers, etc.
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K2VC
VC Fund · Beijing, Beijing, China · 7 investments in China Impact startups, 15 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 191
  • Round size: Seed $1M–$14M; Angel $425k–$10M; Series A $1.4M–$25M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $141M in 2018

Portfolio highlights

  • YolTech Therapeutics — Yaotang (Shanghai) Biotechnology is a high-tech biotechnology company focusing on developing a new generation of mRNA drugs and gene editing drugs by combining mRNA in vivo delivery technology and gene editing technology. Through the continuous development and optimization of CRISPR, base editing and other new-generation gene editing tools, andinnovative improvements to the next-generation mRNA production platform and lipid nanocarrier assembly process, Yaotang Bio is committed to developing treatments for genetic diseases and cardiovascular disease.
  • Mofeng Technology — Mofeng Technology is a high-tech enterprise specializing in the research and development of polymer materials.
  • ChipSense Technology — ChipSense Technology is a semiconductor focused on developing high-performance chips for AI computing infrastructure. The company provides chip solutions that enable perception and efficiency management in AI computing centers, helping optimize resource utilization, operational efficiency, and intelligent management of large-scale AI computingclusters.
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Shunwei Capital
VC Fund · Beijing, Beijing, China · 6 investments in China Impact 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: 449
  • Round size: Series A $1.4M–$43M; Series B $8.2M–$57M; Series C $20M–$100M
  • Lead/follow: 32% lead, 68% 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.
  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • Darma — DARMA - Digital Healt
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Linear Capital
VC Fund · Shanghai, Shanghai, China · 6 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Seed $1.4M–$122M; Angel $1.4M–$122M; Series A $5.7M–$50M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $500M in 2021

Portfolio highlights

  • 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!
  • Rino — L4 autonomous delivery vehicles by Rino.ai serve logistics, retail, and cold chain needs across 100+ cities. Revolutionize your logistics with Autonomous Delivery Vehicles, offering a safe, efficient, and eco-friendly solution for last-mile delivery in urban and rural settings.
  • ACXEL Tech — ACXEL Tech develops large area electronics have given us flat panel displays and flexible, wearable devices. ACXEL takes these ‘active’ pixels and puts them to work transporting liquid droplets – precisely and at amazing speed.Millions of pixels are transformed into tiny engines moving samples around via a high throughput, low cost andprogrammable platform, offering a wide range of possibilities in chemistry, biology and medtech.
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Zhaoxi Capital
VC Fund · Shanghai, Shanghai, China · 6 investments in China Impact startups

Zhaoxi Capital is an investment firm.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Robot Era — Robot era is an emerging technology business creates embodied intelligence and generic humanoid robot technologies and products. Xingdong Era is committed to the development of universal humanoid robots that can adapt to a wide range of fields, multiple scenarios, and high intelligence, striving to realize the beautiful vision of intelligent robotsentering thousands of households and integrating into the lights of thousands of homes.
  • Yanhe Technology — Yanhe Technology provides solar power generation technology-related services.
  • Lingdong Jiaxin Technology — Lingdong Jiaxin Technology focuses on creating materials for piezoelectric sensors, complemented by chip design and algorithm development, which allows companies to improve their sensor capabilities and performance.
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Ant Group
VC Fund · Hangzhou, Zhejiang, China · 6 investments in China Impact startups

Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. They strive to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green and sustainable.

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Investment focus

  • Industry: Information Technology, Artificial Intelligence, Financial Services
  • Stage:Series A, Series B
  • Geography: China, Singapore, Thailand

Investor stats

  • Total investments: 172
  • Round size: Series A $1.4M–$42M; Series B $10M–$217M
  • Lead/follow: 62% lead, 38% follow
  • Last fund: May invest from a new fund soon — raised $1B in 2019

Portfolio highlights

  • Hypershell — Hypershell develops wearable exoskeleton systems designed to support walking, hiking, cycling, and other physically demanding activities. The company produces the Hypershell X series, which uses sensors, motion control algorithms, and powered assistance technology to reduce strain during movement and support lower-body mobility. Its products aredesigned for outdoor recreation, urban mobility, sports training, photography expeditions, and professional field operations such as rescue and inspection work. Hypershell also provides companion software features, battery systems, and adaptive movement modes that adjust assistance levels based on terrain and user activity. The company focuses on integrating robotics, artificial intelligence, and ergonomic design into consumer wearable mobility equipment.
  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • MEGVII — Incorporated in 2011, Megvii is committed to make greatest value for customers and the whole society with extraordinary technology. Megvii is an Artificial Intelligence company specialized in providing enterprises and developers with intelligent solutions and data services, and is dedicated to the mission of “Create machines that can see andthink”.Based on its original deep learning system Brain++, Megvii seeks to build AI Engine, a core fundamental technology powering various AI application. It is leveraging on recognition, control, optimization and other algorithms to connect individuals, objects and scenarios, building a product platform of IoT OS. It is connecting standardized hardware like sensors, robots and personal devices with AI+IoT (AIoT), thus commercializing three application-oriented IoT brains on a large scale, namely, city brain, supply chain brain, and personal life brain. Megvii is building an operation system for the era of AIoT. Megvii is an AIoT solutions expert.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 6 investments in China Impact 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: 803
  • Round size: Series A $5M–$68M; Series B $9.4M–$100M; Series C $14M–$134M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Nice Tuan — Nice Tuan is an e-commerce platform that provides daily groceries and miscellaneous products.
  • Twine Health — Fitbit Health Solutions' wellness and health solutions can help keep your population healthy and drive meaningful employee engagement. Learn more.
  • WindMIL Therapeutics — WindMIL Therapeutics translates novel insights in bone marrow immunology into life-saving cell therapies for cancer patients. The company leveraging its proprietary platform to develop a novel class of cell therapies called MILs (Marrow Infiltrating Lymphocytes) derived from memory T cells found in the bone marrow. WindMIL Therapeutics wasestablished in 2015 and is based in Baltimore, MD.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Impact 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: 271
  • Round size: Seed $425k–$73M; Series A $1.4M–$70M; Series B $2.8M–$57M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $780M in 2021

Portfolio highlights

  • Transcenta — Transcenta is a global biotherapeutic company that fully integrates antibody-based biotherapeutics discovery, R&D and manufacture, focusing on developing innovative antibodies to help more patients. HJB and MabSpace Biosciences merged and created Transcenta.
  • Sandstone — SandStone is a product, solution and service provider focused on next-generation data storage (ServerSAN), which is dedicated to helping users cope with data storage, traffic and data management complexity, helping users build storage virtualization and Computation of virtualization as the core cloud computing infrastructure environment, andgradually provide data processing, mining, analysis and intelligence in the field of big data professional systems and services.
  • Xinjie Energy — Xinjie Energy focuses on the research, development, and production of lithium metal solid-state batteries. These batteries aim to offer energy density and improved safety compared to traditional lithium-ion batteries. The company works on advancing battery technology, with potential applications in electric vehicles and energy storage. It isinvolved in advancing solid-state battery technology and expanding its presence in the battery industry.
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Access 48,091 investors

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

Browse database — It's Free!
China Merchants Venture Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 161
  • Round size: Series A $1.4M–$69M; Series B $2.8M–$170M; Series C $14M–$132M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Honest — Honest is a manufacturer of advanced equipment for mineral processing that specializes in developing X-ray-related electrical devices and system solutions.
  • Euler Universal — Euler Universal is a technology startup focused on the study and development of embedded smart home technologies.
  • Senad Technology — Senad Technology is a software and hardware technology company with machine vision as the core technology.
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Fresh Capital
VC Fund · Huangpu, Shanghai, China · 5 investments in China Impact startups

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

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Investment focus

  • Industry: Energy, Artificial Intelligence, Automotive
  • Stage:Series A, Series B, Seed
  • Geography: China, Germany

Investor stats

  • Total investments: 33
  • Round size: Series A $1.4M–$146M; Series B $2.8M–$211M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • AGILINK — AGILINK is a high-tech enterprise specializing in the research and development of intelligent robots, committed to combining advanced technologies such as artificial intelligence, automation, and intelligent control systems to deliver innovative robotic solutions for industrial, commercial, and service applications.
  • Cemt — Edelman Hydrogen is a hydrogen fuel vehicle power system solution provider. The company’s business includes R&D and production of metal bipolar plates, membrane electrodes, and proton membrane fuel cells (PEMFC), which are hydrogen fuels with a fuel cell system as the core component. One of the automotive power system solution providers.
  • Whales English Elite Education — Whales English Elite Education is a Education based company.
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HSG
VC Fund · Beijing, Beijing, China · 5 investments in China Impact 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 still 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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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 5 investments in China Impact 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: 487
  • Round size: Series A $1.5M–$156M; Series B $14M–$142M; Series C $4.3M–$142M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Waker Biology — Weike Bio is a gene therapy drug development company.
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NIO Capital
VC Fund · Shanghai, Shanghai, China · 5 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 96
  • Round size: Series A $1.4M–$73M; Series B $14M–$296M; Series C $14M–$147M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $400M in 2022

Portfolio highlights

  • Yuan Planet — Youdi is a second-hand auto parts trading platform.
  • Ykccn.com — Ykccn.com is a professional company that operates and replaces the operation and maintenance of new energy vehicles.
  • Aulton New Energy — Aulton New Energy is an electric vehicle replacement services providing company.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 5 investments in China Impact 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: 280
  • Round size: Seed $2.8M–$57M; Series A $2.8M–$71M; Series B $14M–$120M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • 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.
  • 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.
  • XYZ Robotics — XYZ Robotics develops AI-enabled robotic perception and manipulation technology for logistics and manufacturing automation. The company develops autonomous robotic solutions for put wall sorting and goods-to-person picking. Its robot sorts unorganized, random warehouse goods into groups of customer orders. The solution embodies its strength in deeplearning and robotics.
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Tencent
VC Fund · Shenzhen, Guangdong, China · 4 investments in China Impact startups

Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. Its communications and social platforms Weixin and QQ connect users with each other, with digital content and daily life services in just a few clicks. Tencent has maintained steady growth under its user-oriented operatingstrategies. It provides value-added internet, mobile, and telecom services, as well as online advertising under the strategic goal of providing users with "one-stop online lifestyle services." Tencent’s Internet platforms in China – QQ (QQ Instant Messenger), WeChat, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai, and Tenpay – aim to address the various needs of internet users, including communication, information, entertainment, e-commerce, and others.In September 2013, Tencent's market valuation rose to $101 billion, and as of November 21, 2013, QQ had 2 billion active users and WeChat had 650 million monthly active users. The numbers of active users for QQ mail, Qzone, Tencent Weibo, and QQ news were 274 million, 626 million, 220 million, and 150 million, respectively.Tencent was founded in November of 1998. In April 2000, the IDG and PCCW invested a total of $2.2 million dollars in the company. Tencent was listed on the Hong Kong Stock Exchange (SEHK) on June 16, 2004. Baidu, Alibaba, and Netease are Tencent's major competitors.

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Investment focus

  • Industry: Software, Financial Services, Artificial Intelligence
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 559
  • Round size: Series A $3.9M–$230M; Series B $15M–$283M; Series C $35M–$400M
  • Lead/follow: 45% lead, 55% follow

Portfolio highlights

  • Reddit — Homepage - Reddit
  • XtalPi — XtalPi is a pharmaceutical technology company that is reinventing the industry’s approach to drug research and development with its Intelligent Digital Drug Discovery and Development (ID4) platform. Through its tightly interwoven quantum mechanics, artificial intelligence, and high-performance cloud computing algorithms, the ID4 platform enablespharmaceutical companies to increase their efficiency, accuracy, and success rate at critical stages of drug R&D. By accelerating the pace of drug discovery and development, XtalPi aims to contribute to a healthier society worldwide.Founded in 2014 by a group of quantum physicists at MIT, XtalPi has since grown into an elite team of researchers with multi-disciplinary expertise in physics, chemistry, pharmaceutical R&D, and algorithm design. XtalPi has received much recognition for its cutting-edge technologies, its innovative solutions, and the breadth of potential applications of its offerings across the pharmaceutical value chain, which has allowed it to gain industry approval and establish strategic partnerships with several top international pharmaceutical companies.
  • PolicyBazaar — Compare insurance policies offered by various insurers in India & buy insurance policy online. Get instant quotes & save huge on premiums.
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Yellow River Delta Industrial Investment Fund
VC Fund · Jinan, Shandong, China · 4 investments in China Impact startups

Yellow River Delta Industrial Investment Fund is a equity investment institution dedicated to strategic industrial investment, providing professional asset management services to investors with a diversified wealth management model.

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Investment focus

  • Industry: Carbon Capture, Fuel, Energy
  • Stage:Series A, Angel
  • Geography: China

Investor stats

  • Total investments: 4
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Carbonology — Carbonology is a carbon capture company that produces fuels, chemicals, and polyesters.
  • Carbon Life — Carbon Life is a carbon sequestration technology developer. It is mainly engaged in carbon emission reduction, carbon conversion, carbon capture, carbon sequestration technology research and development.
  • ZhiChun Precision — ZhiChun Precision is a supplier of high-purity industrial gases. It specializes in R&D, manufacturing, and sales of gases for semiconductor, medical, and scientific research applications.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 4 investments in China Impact startups, 29 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 217
  • Round size: Seed $1.4M–$10M; Angel $425k–$6M; Series A $1.4M–$16M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Zhicheng AI — Zhicheng AI is a developer of general-purpose artificial intelligence robots, dedicated to designing and building intelligent robotic systems that integrate advanced AI algorithms, perception technologies, and adaptive learning capabilities
  • Nansu Technology — Nansu Technology is a digital medical technology company that focuses on the treatment of pan-brain dysfunction.
  • Delta Intelligence Technology — Delta Intelligence Technology is a next-generation embodied intelligence company focused on integrating advanced artificial intelligence with physical systems to create machines that can perceive, learn, and act in the real world.
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Hua Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 26 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 70
  • Round size: Seed $14M–$74M; Series A $7M–$143M; Series B $14M–$145M
  • Lead/follow: 30% lead, 70% follow

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.
  • Senad Technology — Senad Technology is a software and hardware technology company with machine vision as the core technology.
  • Force Inspiration — Force Inspiration is a start-up focusing on embodied intelligence technology. The company mainly engages in technology development, technical consulting, software development, basic artificial intelligence software development, information system integration services, intelligent robot research and development and sales, and industrial robotmanufacturing and sales.
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Sinovation Ventures
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups

Sinovation Ventures is a full-service venture capital firm that actively invests in the Chinese technology market.

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Investment focus

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

Investor stats

  • Total investments: 261
  • Round size: Seed $1M–$10M; Series A $1.4M–$28M; Series B $10M–$110M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $203M in 2022

Portfolio highlights

  • ImageDT — ImageDT is a Enterprise services company.
  • Sand.ai — Sand AI is an AI company that focuses on producing videos.
  • Ruoban Technology — Ruoban Technology, an embodied intelligence firm, is focused on the study and development of intelligent robots for unstructured household scenarios.
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Hefei Industry Investment Group
VC Fund · Hefei, Anhui, China · 4 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 87
  • Round size: Series A $7.1M–$101M; Series B $14M–$295M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Xinming — Xinming is a high-tech enterprise focusing on spatial computing and artificial intelligence chip and product design.
  • Zhongke Youcai — Zhongke Youcai is a PET optical film R&D and manufacturing company, mainly engaged in the manufacturing of functional polymer film materials and other businesses.
  • Surgerii Technology — Beijing Surrey is a technology company founded by an industry elite active in China's medical equipment. Relying on the core technology of the new generation of flexible continuum robotic arm, running through the implementation paradigm of many types of clinical minimally invasive surgery, and harnessing the powerful system design andintegration capabilities, Beijing Shurui is committed to becoming the first independent independent research and development, production and sales in China.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 145
  • Round size: Seed $98k–$14M; Series A $298k–$30M; Series B $197k–$50M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Evotrex — Evotrex focused on changing outdoor travel and adventure by introducing clever, power-generating RV trailers geared for self-sufficiency and off-grid exploration.
  • Junhe Atom — Junhe Atom is a company that focuses on Small modular nuclear reactors.
  • PhotoG — PhotoG is an international GenAI content marketing tool supplier. It operates in the fields of overseas content marketing and generative AI, with a focus on visual content development and e-commerce brand marketing.
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Winreal Investment
VC Fund · Shanghai, Shanghai, China · 4 investments in China Impact startups, 11 in the past 12 months

Winreal Investment is an investment Firm.

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Investment focus

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

Investor stats

  • Total investments: 67
  • Round size: Seed $2.8M–$14M; Series A $2.8M–$15M; Series B $14M–$107M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $147M in 2020

Portfolio highlights

  • Donglin Zhixing — Donglin Zhixing is a developer and manufacturer of automobile parts and accessories.
  • Brain Intelligence Computing Chip — Brain Intelligence Computing Chip is a manufacturing company offering intelligent computing chips using neuromorphic computing technology.
  • Getai Aviation Technologies Co., Ltd. — Getai Aviation Technologies Co., Ltd. designs and manufactures avionics equipment for aerospace industry.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 21 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 145
  • Round size: Seed $1M–$15M; Angel $425k–$27M; Series A $1M–$28M
  • Lead/follow: 24% lead, 76% 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.
  • Guangyu Yuanxin — Guangyu Yuanxin is a semiconductor technology service provider that specializes in offering ultra-high precision display screen services for metaverse HMI devices like AR and VR.
  • Liangkun Technology — Liangkun Technology integrates quantum computing, artificial intelligence, and high-performance computing to build a heterogeneous intelligent computing platform for scientific research. The company transforms previously unsolvable major scientific research problems into solvable, fast, and industrializable tasks through physically constrainedprecise computation based on quantum mechanics first principles. It encapsulates cutting-edge research findings into standardized products targeting real-world industry scenarios in semiconductors, new energy, and innovative drugs. The platform delivers order-of-magnitude efficiency improvements in solving major R&D problems while scaling large-scale problems with limited quantum resources.
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Dongfang Jiafu
VC Fund · Hangzhou, Zhejiang, China · 4 investments in China Impact startups, 24 in the past 12 months

Dongfang Jiafu is an equity fund management firm.

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Investment focus

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

Investor stats

  • Total investments: 63
  • Round size: Seed $14M–$15M; Series A $14M–$42M; Series B $28M–$100M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • MQTEK — MQTEK is a platform level core component supplier specializing in upstream hardware for neutral-atom and ion-trap quantum computing architectures.
  • Micronano Core — Micro-nano core is committed to the development and production of the world's leading intelligent IoT AIoT SoC serialized chips, through the world's leading four core technologies: ultra-low-power chip architecture technology (to solve the problem of system standby power consumption), ultra-low power consumption Power consumptionclosed-loop adaptive near-threshold circuit technology (to solve the problem of chip running power consumption), ultra-low power consumption and high-precision sensor acquisition technology (to solve the problem of high precision and low power consumption of sensor signal acquisition) and high-efficiency embedded AI engine technology (solving the computing power and energy efficiency of embedded AI), creating a general/platform technology system for IoT chips and AIoT serialized chips, enabling IoT products, and significantly improving the low power consumption, low power consumption, and low power consumption of future IoT products High-precision detection and edge AI inference performance.
  • Xinhan Intelligence — Xinhan Intelligence is a high-tech enterprise focusing on the production and sales of intelligent power transmission and distribution equipment. The company is mainly engaged in the sales of intelligent power transmission and distribution and control equipment, the manufacturing of intelligent basic manufacturing equipment, and the sales ofmechanical equipment.
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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 4 investments in China Impact 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: 265
  • Round size: Seed $1.5M–$42M; Series A $2.8M–$73M; Series B $5.5M–$150M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
  • Shenzhen Urban Transport planning Center — Shenzhen Urban Transport planning Center provides traffic information engineering and technical services in China.
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Flyfot Ventures
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 11 in the past 12 months

Flyfot Ventures is an early investment fund focusing on the TMT field.

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Investment focus

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

Investor stats

  • Total investments: 28
  • Round size: Seed $1.4M–$72M; Series A $425k–$143M; Series B $7.9M–$15M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Orbital Time — Orbital Space Technology develops computing satellites launched into dawn-dusk orbits to create space-based data centers. These provide continuous computing power services to customers, leveraging constant sunlight for reliable solar energy and minimal eclipses.
  • Huayi Quantum — Huayi Quantum is a quantum computer and quantum cloud platform developer specializing in advanced algorithm research and application acceleration.The business creates modular, standardized, and scalable quantum computers based on ion-trap technology.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
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Contemporary Amperex Technology
VC Fund · Xining, Qinghai, China · 4 investments in China Impact startups, 11 in the past 12 months

CATL develops R&D and manufacturing capabilities of full industry chains in vehicle and energy storage batteries filed. This includes materials, battery cell, battery management systems, battery recycling and reuse. Providing power battery solutions for green vehicles. Providing high-efficiency storage solutions for clean energy applications.Contemporary Amperex Technology Co. Limited (CATL) is founded in 2011, headquartered at Ningde, Fujian.

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Investment focus

  • Industry: Automotive, Manufacturing, Electric Vehicle
  • Stage:Series A, Corporate Round, Series B
  • Geography: China, Finland, Australia

Investor stats

  • Total investments: 47
  • Round size: Series A $43M–$7.4B; Series B $142M–$1.1B; Corporate Round $33M–$418M
  • Lead/follow: 43% lead, 57% follow

Portfolio highlights

  • DeepSeek — DeepSeek is an artificial intelligence software company that focuses on developing open-source large language models (LLMs). The company researches and develops AI models, machine learning, natural language processing (NLP), and other advanced AI applications. DeepSeek offers an AI assistant app powered by its latest DeepSeek-V3 model. The companyhas released DeepSeek-R1, an open-source model that rivals OpenAI's offerings, which can be freely distilled and commercialized under the MIT license.
  • Carbonology — Carbonology is a carbon capture company that produces fuels, chemicals, and polyesters.
  • Carbon Life — Carbon Life is a carbon sequestration technology developer. It is mainly engaged in carbon emission reduction, carbon conversion, carbon capture, carbon sequestration technology research and development.
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Ding Xiang Capital
VC Fund · Chengdu, Sichuan, China · 3 investments in China Impact startups

Ding Xiang capital focused on financial development and investment services, aims to create a full-featured financial holding platform. Ding Xiang capital equity investment, asset management, mergers and acquisitions for the main business, with capital and investment philosophy, boost business development. Ding Xiang capital committed to promotingthe development of mobile Internet, health care, culture, tourism, intelligent hardware, consumer information and other industries, and actively participate in mixed ownership and the country's reconstruction in Sichuan. Ding Xiang capital will be through innovation and excellence, and strive to become an excellent platform for integrated investment holding.

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Investment focus

  • Industry: Manufacturing, Solar, Energy
  • Stage:Seed, Series A, Angel
  • Geography: China

Investor stats

  • Total investments: 8
  • Round size: Seed $2.9M–$2.9M; Series A $13M–$23M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Higretech — Haigruite is a research and development and manufacturer of composite current collector equipment.
  • Qina New Energy — Qina New Energy specialized in the research, development, and production of composite sodium iron phosphate materials and their precursors.
  • Guangjing Energy — Guangjing Energy is a perovskite solar cell module developer, dedicated to the R&D of long-life large-area perovskite solar cell modules.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 235
  • Round size: Seed $425k–$20M; Angel $425k–$14M; Series A $1.4M–$14M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • MQTEK — MQTEK is a platform level core component supplier specializing in upstream hardware for neutral-atom and ion-trap quantum computing architectures.
  • Zhidao Hechuang — Zhidao Hechuang is a comprehensive solution provider for new energy asset management.
  • Shenzhen Biang Core Technology
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Cyber Creation Ventures (CCV)
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

Cyber Creation Ventures(CCV) is a global venture capital firm deeply rooted in the Silicon Valley ethos, specializing in early-stage investments while upholding the esteemed legacy of KPCB. Founded by Wei Zhou, the former Managing Partner of KPCB China, alongside the original technology investment team, we seamlessly merge Silicon Valley’sinnovative spirit with a broad global presence. We operate from offices in Singapore, Silicon Valley, and Beijing, investing in pioneering global technologies.With assets under management approaching $2 billion, our founding team leverages extensive entrepreneurial expertise to identify and cultivate high-potential startups. Within our first decade, we achieved a 35% unicorn formation rate and led Series A rounds for 80% of our ventures, elevating many to become trailblazers in their sectors and achieve successful public offerings.Our prestigious portfolio includes notable companies such as JD.com (NASDAQ:JD), VenusTech (002439), CreditEase (NYSE:YRD), Rong360 (NYSE:JT), Arrail Dental (HKSE:06639), Perfect Corp(NYSE:PERF), SYS Water Doctor (301372), and TanTan (acquired by NASDAQ:MOMO). We also back innovators like Ximalaya FM, Shukun Technology, Transsnet Financial, MetaApp, U POWER, Cowa Robot, and IceKredit.CCV’s leadership has consistently been recognized for its influence on the global venture capital landscape. Its partners have been named among Forbes' Top 100 Most Influential Global Chinese and Top 30 Venture Capitalists, as well as featured in Caijing Magazine’s TOP 50 Global Chinese Venture Capitalists. Additionally, partners were listed in Fortune's Top 30 Most Influential Investors of the Year and have received prestigious accolades such as Best Venture Capitalist by China Venture and Best Technology Fund Manager by The Asset.

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Investment focus

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

Investor stats

  • Total investments: 102
  • Round size: Series A $2.9M–$50M; Series B $14M–$39M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $316M in 2018

Portfolio highlights

  • G-HCARE — G-HCARE is a provider of B2B health insurance data and management platforms for insurance companies. Its healthcare insurance management system utilizes big data and artificial intelligence technology helping insurance companies to improve customer management efficiency and enabling individuals to have high-end healthcare insurance servicesincluding record management, overseas treatments, and mobile diagnosis.
  • Yunboai — Yunboai is a virtual entertainment metaverse community for young people. It develops a technology that enables 3D motion capture.
  • IceKredit — IceKredit Inc. is an international AI company with seven global offices. Our headquarter is located in Shanghai, and we have branches in Nanjing, Shenzhen, Chengdu, Changzhou, Beijing and Los Angele. We are dedicated to innovatively apply AI related technologies to make all-rounded credit evaluation of individuals and SMEs. Founded at the beginningof 2015, IceKredit Inc.has obtained total investment of nearly 100 million USD after Series Pre-C round.
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Daocin Capital
VC Fund · Hangzhou, Zhejiang, China · 3 investments in China Impact startups

Daocin Capital is an early equity investment firm that focuses on early projects on new retail, internet of things, financial technology, new entertainment, Artificial intelligence, blockchain ecology and other fields.The company, Daosheng Capital, won the 2016 Top 20 China Equity Investing Institutions and the 2017 China Equity InvestingAgency. Qiang, 2018 China's top 30 investment institutions; won the 2017 "Golden Man Award" Hangzhou's top ten investment institutions, 2018 "Golden Mang Award" Hangzhou's top ten investment institutions.Daosheng Capital was registered as a private equity fund manager in China.

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Investment focus

  • Industry: Robotics, E-Commerce, Enterprise
  • Stage:Angel, Series A, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 55
  • Round size: Seed $1.4M–$5.8M; Angel $425k–$1.5M; Series A $1.4M–$15M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Boonray — Boonray is a global leader in ubiquitous robotics. It is committed to empowering traditional industries through robotics, AI and IoT technologies to create enterprise-class intelligent operational solutions. Different from robotic equipment manufacturing enterprises, Berla Technology focuses on the interconnection of various machines and realizesthe clustering intelligent operation and the mining of the data collected by the machine.
  • Gosion Robot — Guoxun Robot is a developer of industrial safety inspection robots.
  • Senv Intelligent — Senv Intelligent is a high-tech enterprise specializing in the research and development of intelligent sensing systems, dedicated to delivering advanced sensor technologies and smart perception solutions that support automation, real-time monitoring, data-driven decision-making, and the development of next-generation intelligent industries.
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Gopher Asset Management
VC Fund · Shanghai, Shanghai, China · 3 investments in China Impact startups

Gopher Asset Management is an asset management firm that focuses on asset allocation and pursues absolute returns. The firm also focuses on Private Equity Investment, Real Estate Fund Investment, Secondary Market Investment, Family Office, and Discretionary Account Investment and Institutional Services. They devoted to protecting their investorsagainst financial risk and growing the value of their assets.Gopher Asset Management was founded in 2010 and is based in Shanghai, China.

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Investment focus

  • Industry: Internet, Service Industry, Financial Services
  • Stage:Series C, Series A, Series B
  • Geography: China, United States, Portugal

Investor stats

  • Total investments: 52
  • Round size: Series A $1.4M–$31M; Series B $14M–$125M; Series C $44M–$213M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • HeyGears — HeyGears is an innovation-driven technology company with 3D printing applications and digital intelligent manufacturing technologies as its core competencies. The company is dedicated to building a complete service ecosystem by integrating hardware, software, material science, IoT (Internet of Things) and AI (Artificial Intelligence). The ecosystemallows HeyGears to provide B-end customers with whole-chain intelligent manufacturing solutions and offer C-end customers high-quality end products empowered by 3D printing technology.HeyGears aims at building an M-B-C network by utilizing UltraCraft, Ultra-Net, and UltraPrint, and creating new 3D printing application scenarios from “digital production” to “unscaled” retail. The company’s digital manufacturing solutions, services, and business models have and will continuously be applied in health and medical, consumer goods, electronics, and various other industries. HeyGears has customers in more than 10 countries and is continuing to expand globally in America, Europe, and Asia.At HeyGears we encourage innovation and spare no effort to bring the best ideas to life. We empower creative, passionate and purpose-driven people to make a difference. We are committed to a working culture that embraces diversity, promotes equal opportunity and explores possibilities. Your career at HeyGears is defined by you, with a flexible-and-global working environment and your best authentic self. Here we collaborate as an energetic, dynamic and entrepreneurial team. Together we offer the optimal experience to customers, influence the industry with leading digital applications, and help improve the health and lives of our communities.
  • ProSights — State-of-the-art data security protocols engineered specifically for financial institutions.
  • Anytime AI — Anytime AI builds premier AI legal assistants for plaintiff lawyers by harnessing the most advanced Generative AI technologies.
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CMBC International Asset Management
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

CMBC International Asset Management is an asset management firm of CMBC International Holdings.

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Investment focus

  • Industry: Energy, Manufacturing, Nuclear
  • Stage:Seed, Angel, Series B
  • Geography: China, United Kingdom

Investor stats

  • Total investments: 9
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Green Voltis — Green Voltis is an AI-powered virtual power plant aggregation operator. It offers intelligent, efficient, and flexible trading and operation solutions for power market participants such as energy storage and other new energy asset holders, industrial and commercial customers, and power sales agents using AI native technology for electricity spottrading and participation in grid ancillary services.
  • Zhiyu Aerospace — Zhiyu Aerospace is an aerospace component developer, primarily engaged in the design and development of advanced liquid rocket engines, launch vehicles, and spacecraft.
  • Xingneng Xuanguang — Xingneng Xuanguang is a fusion energy company that specializes in the development of advanced field reverse magnetic mirror fusion path technology.
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QF Capital
VC Fund · Shenzhen, Guangdong, China · 3 investments in China Impact 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: 147
  • Round size: Seed $1.4M–$14M; Angel $425k–$2.1M; Series A $1.4M–$16M
  • Lead/follow: 47% lead, 53% 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.
  • Shuowei Optoelectronics — Shuowei Optoelectronics focuses on next-generation photovoltaic solutions for space applications.
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Hongtai Fund
VC Fund · Shenzhen, Guangdong, China · 3 investments in China Impact startups

Hongtai Fund provides funding and management support for companies.

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Investment focus

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

Investor stats

  • Total investments: 30
  • Round size: Series A $14M–$709M; Series B $2.2M–$290M
  • Lead/follow: 43% lead, 57% follow

Portfolio highlights

  • Tujian Technology — Tujian Technology focused on the research and development and manufacturing of multimodal flexible tactile sensors and flexible electronic skin tactile sensing systems to promote their application in the fields of embodied intelligent robots, intelligent sensing cockpits, flexible sensing wearable devices, and flexible health monitoring.
  • Join Silicon — Zhongyin Microelectronics is a hard-core interface IP technology supplier.
  • Super Rui Technology — UltraRISC Technology develops high-performance, power-efficient and intelligent multi-core RISC-V processors and is dedicated to a secure, dependable RISC-V ecosystem.
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CrestValue
VC Fund · Hangzhou, Zhejiang, China · 3 investments in China Impact startups

CrestValue is a venture capital institution that specializes in high-tech, growth-oriented enterprise equity investment.

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Seed $695k–$7.1M; Series A $1.4M–$14M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • MagnetTech — Magnetic Sensing Technology focuses on cutting-edge quantum magnetic sensing products and solutions, and has developed a mature system covering numerous product lines, including zero-field magnetometers and full-field magnetometers.
  • Harvey Medical — Harvey Medical is a research and development and manufacturing enterprise of respiratory physiology and critical care medical equipment.
  • Harog Technology — Harog Technology is a manufacturer of graphite bipolar plates based on carbon and graphite within the new materials and energy sectors.
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Everstate Capital
VC Fund · Shenzhen, Guangdong, China · 3 investments in China Impact startups

Shenzhen Qianhai Hengbang Equity Investment is an investment Firm.

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Investment focus

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

Investor stats

  • Total investments: 13
  • Round size: Seed $2M–$18M; Series B $14M–$28M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Hanyu New Energy — Hanyu New Energy is a new energy system integration service provider that specializes in energy storage and hybrid battery system integration.
  • Leading New Energy — Lead New Energy is a clean energy company dedicated to advancing sustainable power solutions. They focus on the research and development of innovative technologies in power generation, transmission, and distribution.
  • Yuanyong Technology — Yuanyong Technology is a technology company specializing in integrated circuit design services, providing end-to-end solutions that cover chip architecture, circuit design, verification, and optimization to support the development of high-performance and reliable semiconductor products across a range of applications.
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China Capital Management
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups, 19 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 72
  • Round size: Series A $7.1M–$55M; Series B $427k–$28M; Series C $678k–$283M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Orbital Time — Orbital Space Technology develops computing satellites launched into dawn-dusk orbits to create space-based data centers. These provide continuous computing power services to customers, leveraging constant sunlight for reliable solar energy and minimal eclipses.
  • Rongyuan Technology — Rongyuan Technology develops intelligent defense and low-altitude governance solutions.
  • Smart Satellite Technology — Smart Satellite Technology is a satellite design manufacturer dedicated to the constellation operators of low-cost satellite manufacturing and operation and high system reliability, designing and developing whole-star and key stand-alone, and developing companion applications and satellite operating systems to provide Satellite and constellationfull life cycle services.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Keyuan Industry Fund
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Lepu Nadian — Lepu Nadian is a supplier of new-generation power battery materials and energy storage battery systems. It is market-oriented, integrating research and development, manufacturing, and sales, with an emphasis on sodium-ion battery technology innovation and engineering applications.
  • Qiyuan Core Power Technology — Qiyuan Green Power provides services and solutions for green energy.
  • Shanghai Carbon International — Shanghai Carbon International is a developer of carbon paper core materials for hydrogen fuel cells.
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Midea Group
VC Fund · Guangdong, Jilin, China · 3 investments in China Impact startups

Midea is the world's largest producer of major appliances with a mission to create surprisingly-friendly solutions so you can enjoy life at home.

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Investment focus

  • Industry: Manufacturing, Software, Robotics
  • Stage:Series A, Series C, Series B
  • Geography: China, Germany, United States

Investor stats

  • Total investments: 20
  • Round size: Series C $1.1M–$19M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • KUS — KUS is a manufacturer and supplier of sensors and sensor-based solutions for the automotive industry.
  • Essent Technology — Essent Technology is an energy-tech company that specializes in the development and manufacturing of new energy thermal management products.
  • Qiaotian Intelligent — Qiaotian Intelligent produces domestic flexible production equipment. They are engaged in the execution system research and development and the application of robot end execution systems. Their products include quick-change discs, industrial connectors, and zero-point positioning.
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CGN Industrial Investment Fund Management
VC Fund · 3 investments in China Impact startups

CGN Industrial Investment Fund Management obtains management fee income through "raising, investment, management, and withdrawal" of the established funds

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Investment focus

  • Industry: Manufacturing, GreenTech, Automotive
  • Stage:Seed, Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 4
  • Round size: Seed $22M–$72M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • KHAT — KHAT is a developer and producer of electronically controlled suspension for passenger vehicles.
  • Huazhe Jingwei — Huazhe Jingwei operates as a degradable material company.
  • Zhongke Qingneng — Zhongke Qingneng is a green-tech company that specializes in the development and manufacturing of hydrogen liquefaction and cryogenic equipment.
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CICC Capital
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

CICC Capital is a private equity investment management subsidiary wholly-owned by China International Capital Corporation.

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Investment focus

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

Investor stats

  • Total investments: 74
  • Round size: Series A $4.1M–$143M; Series B $3.8M–$205M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Mikoptik — It is a digital optical equipment developer, focusing on combining LED, laser light source technology and digital optical processing (DLP) technology for PCBFPC, FPD, LED, solar, wafer, High-tech companies in the fields of IC packaging and high-precision screen printing, focus on research and development and production of various types of digitaloptical (Digital-Step-Scan, DiSS) equipment and related components and devices.
  • InventChip — Inventchip provides power conversion solutions based on SiC power devices, SiC driver IC and SiC power modules. Applications: Wind Inverter, PV Inverter, Industrial Power Supply、 HEV/EV, Motor Drive, Charging Pile and other fields, and many.
  • Lanmei Technology — Lanmei Technology is an industrialized agriculture firm and a significant health-care operator that combines technical seed production and nutritious food.
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Citic Environment
VC Fund · Beijing, Beijing, China · 3 investments in China Impact startups

Citic Environment specialised investment and operational platform for environmental protection.

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Investment focus

  • Industry: Manufacturing, Energy, Sales
  • Stage:Series A, Angel
  • Geography: China

Investor stats

  • Total investments: 5
  • Round size: Series A $14M–$14M
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • Resolar — Resolar provides whole-chain PV recycling solution, which can reach 99.9% separation rate and extract 95% of the total value with $80/MT cost. We have closed the entire PV recycling loop, which includes separating PV modules and Ag, processing the silicon to 6N level, casting ingot with recycled silicon and manufacturing recycled PV modules.
  • Blue Whale — Blue Whale is a high-tech company that combines energy conservation and emission reduction, environmental protection, intelligent machinery research and development, manufacture, sales, and service. Its primary focus is on the development and use of innovative ceramic production and manufacturing technology, as well as mechanical equipment.
  • Sanhang New Lithium Technology — Sanhang New Lithium Technology is a lithium resource extraction technology developer that focuses on the research and development of cutting-edge technology for lithium extraction using electrochemical deintercalation.
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Fenghe Capital
VC Fund · Hainan, Hainan, China · 3 investments in China Impact startups

Fenghe Capital specializes on energy storage investments.

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Investment focus

  • Industry: Battery, Manufacturing, Energy
  • Stage:Seed, Series A, Series C
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 19
  • Round size: Series C $28M–$638M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Robot Era — Robot era is an emerging technology business creates embodied intelligence and generic humanoid robot technologies and products. Xingdong Era is committed to the development of universal humanoid robots that can adapt to a wide range of fields, multiple scenarios, and high intelligence, striving to realize the beautiful vision of intelligent robotsentering thousands of households and integrating into the lights of thousands of homes.
  • Xinjie Energy — Xinjie Energy focuses on the research, development, and production of lithium metal solid-state batteries. These batteries aim to offer energy density and improved safety compared to traditional lithium-ion batteries. The company works on advancing battery technology, with potential applications in electric vehicles and energy storage. It isinvolved in advancing solid-state battery technology and expanding its presence in the battery industry.
  • AdvanSol Power — AdvanSol Power is dedicated to advancing the solar energy industry by focusing on the research and development of third-generation micro-string inverter technology.
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Caixin Capital
VC Fund · Hunan, Fujian, China · 3 investments in China Impact startups

Caixin Capital invests in a wide range of businesses, including biomedical, manufacturing, cultural tourism, and many more.

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Investment focus

  • Industry: Manufacturing, Biotechnology, Drones
  • Stage:Series A, Series B, Series C
  • Geography: China

Investor stats

  • Total investments: 16
  • Round size: Series A $1.4M–$28M; Series B $145M–$200M; Series C $43M–$57M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GigaAI — Excellent Vision is a spatial intelligence company focused to transforming video creation into a 4D world model, enabling AI big models to grasp, generate, and reason about 4D space.
  • Yanhe Technology — Yanhe Technology provides solar power generation technology-related services.
  • Damo Intelligent Control — Damo Intelligent Control is a national specialized "little giant" enterprise and a national high-tech enterprise focusing on the research and development, production, sales, and service integration of drone cluster automation performance systems. It is the world's leading supplier of drone cluster automation performance systems.
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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 3 investments in China Impact startups, 37 in the past 12 months

Tsinghua Capital is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 89
  • Round size: Seed $1.4M–$74M; Angel $425k–$14M; Series A $2.3M–$18M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Sisheng Technology — Siasun Technology focuses on the research and development of the "Ultrasound Brain-Computer Interface" platform.
  • Huiguang Innovation — Huiguang Innovation is a provider of robot tactile sensors and tactile data solutions. It mainly provides high-performance visual and tactile sensors, tactile data acquisition equipment and systematic tactile perception solutions for embodied intelligence, robot dexterity operation, intelligent manufacturing, human-computer interaction andscientific research scenarios.
  • Clarify intelligence — Clarify Intelligence is an artificial intelligence technology company focused on the research, development, and deployment of AI-driven software and intelligent solutions. The company specializes in developing foundational AI platforms, application software, and advanced AI algorithms to support a wide range of industry use cases.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 3 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 285
  • Round size: Series A $7.1M–$100M; Series B $14M–$142M; Series C $14M–$300M
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • HitGen — HitGen is provides biological reagents and services to support drug discovery research.
  • ZSPepLib — Zonsen PepLib Biotech Inc. Zonsen PepLib Biotech Inc. is a high-tech biopharmaceutical enterprise that is dedicated to advancing global innovation in the discovery of new peptide drugs. Founded in September 2017, PepLib is headquartered in Zhuzhou, China, with a subsidiary in New Jersey, USA.
  • Eyegood Ophthalmic Hospital — Eyegood Ophthalmic Hospital is a ophthalmology hospital.
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Guangdong Technology Financial Group
VC Fund · Guangzhou, Guangdong, China · 3 investments in China Impact startups, 15 in the past 12 months

Guangdong Province, Guangdong Branch Financial Group Limited (Guangdong Branch of finance) is a wholly state-owned enterprises in Guangdong Provincial People's Government authorized to operate, formerly established in 2000 in Guangdong Province, Guangdong Technology Venture Capital Group Co., Ltd. September 2011, the provincial governmentauthorized the provincial Science and Technology Department of Guangdong Branch of financial perform the function. In June 2013, the provincial government decided to "Guangdong Province, the Guangdong Branch of Venture Capital Group Co., Ltd." was renamed "Guangdong Province, Guangdong Branch Financial Group Limited."Guangdong Branch of micro finance to address high-tech small and medium enterprise financing difficult for the mission to "create 100 billion Technology Financial Group" as the goal, to play an active policy of Technology Financial Group's strategic platform, fundamental role, build a "3 + 1 "business system (ie equity investment, science and technology financial services, science and technology parks and company financial industry platform listed), and strive to build in Guangdong Province to promote science and technology, finance, industry, the depth of integration of the main channel, the main platform and the main force, around the high-tech small and medium micro enterprises financing needs, to carry out systematic investment, Tam, loan, lease and other business, science and technology to create a versatile type of financial service network to form an overall competitive advantage.

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Investment focus

  • Industry: Manufacturing, Software, Information Technology
  • Stage:Series A, Angel, Series B
  • Geography: China, Japan, Hong Kong

Investor stats

  • Total investments: 105
  • Round size: Angel $425k–$425k; Series A $1.4M–$14M; Series B $2.8M–$295M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Jihua Drive — Jihua Drive is a high-tech enterprise specializing in the research and development of core motion execution components for robots, providing advanced precision technologies and intelligent drive solutions that enhance the performance, stability, and efficiency of robotic systems across various industries.
  • Conmind Medical — Conmind Medical is a medical device company that provides safe, effective, and innovative neurointerventional and cardiac interventional medical devices.
  • Xinhui Aerospace — Xinhui Aerospace is a company specializing in the development and manufacturing of aerospace electric servo systems. It focuses on the research, development, production, sales, and service of electric servo systems specifically for the aerospace sector.
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Impact VC funding in China at a glance

Stats across 664 deals from 1.1k investors.

1.1k
investors
in China Impact startups
664
deals
in China Impact startups
$14M
median round
in China Impact startups
40%
lead investors
lead at least one round
27%
Series A
most common funding stage

Access all 1058 VC funds in China Impact startups.

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