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Top 50 Impact VC Funds & Investors in China (September 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
15 China, United States, Singapore Series A, Series B, Seed Health Care, Software, Biotechnology $1.5M–$141M
Addor Capital
VC Fund
14 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$48M
Cowin Capital
VC Fund
11 China, Hong Kong, United States Series A, Series B, Seed Manufacturing, Health Care, Biotechnology $1.4M–$76M
K2VC
VC Fund
10 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $356k–$38M
GSR United Capital
VC Fund
9 China, United States, Singapore Series A, Seed, Series B Manufacturing, Automotive, Robotics $450k–$50M
HSG
VC Fund
8 China, United States, Australia Series B, Series A, Seed Artificial Intelligence, Biotechnology, Software $2M–$226M
Shunwei Capital
VC Fund
8 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.5M–$105M
Fortune Venture Capital
VC Fund
8 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $462k–$73M
Qiming Venture Partners
VC Fund
8 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $4.3M–$120M
Linear Capital
VC Fund
6 China, Singapore, Switzerland Seed, Angel, Series A Artificial Intelligence, Software, Manufacturing $1.4M–$122M
China Merchants Venture Capital
VC Fund
6 China, United States, India Series A, Series B, Series C Manufacturing, Automotive, Internet $1.5M–$177M
Fresh Capital
VC Fund
6 China, Germany Series A, Series B, Seed Energy, E-Commerce, Artificial Intelligence $1.6M–$211M
Zhaoxi Capital
VC Fund
6 China Series A, Series B Manufacturing, Solar, Energy $14M–$219M
Innoangel Fund
VC Fund
6 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$29M
Ant Group
VC Fund
6 China, Singapore, Thailand Series A, Series B Information Technology, Artificial Intelligence, Financial Services $2.9M–$142M
Plum Ventures
VC Fund
6 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $436k–$28M
ZhenFund
VC Fund
5 China, United States, Singapore Seed, Series A, Angel Artificial Intelligence, Software, E-Commerce $150k–$23M
NIO Capital
VC Fund
5 China, United States, Germany Series A, Series B, Series C Manufacturing, Automotive, Energy $1.6M–$270M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
5 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.4M–$150M
Hefei Industry Investment Group
VC Fund
5 China, Israel Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $9.6M–$295M
Gaorong Capital
VC Fund
5 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $1.6M–$120M
IDG Capital
VC Fund
5 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $2.6M–$354M
Shenzhen Capital Group
VC Fund
5 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
Bojiang Capital
VC Fund
5 China, United States Series A, Series B, Seed Software, Artificial Intelligence, Manufacturing $500k–$43M
Dongfang Jiafu
VC Fund
4 China Series A, Series B, Seed Manufacturing, Information Technology, Semiconductor $14M–$100M
Future Capital Discovery Fund
VC Fund
4 China, United States, Singapore Seed, Angel, Series A Artificial Intelligence, Software, Robotics $299k–$15M
Contemporary Amperex Technology
VC Fund
4 China, Finland, Australia Corporate Round, Series A, Series B Manufacturing, Automotive, Electric Vehicle $30M–$7.4B
Hidden Hill Capital
VC Fund
4 China, Hong Kong, Indonesia Series B, Series A, Seed Manufacturing, Logistics, Energy $9.5M–$1.5B
Flyfot Ventures
VC Fund
4 China, United States Series A, Series B, Seed Robotics, Medical, Electronics $452k–$122M
Winreal Investment
VC Fund
4 China, Finland Series A, Series B, Seed Manufacturing, Automotive, Hardware $2.8M–$107M
Nanotrend Capital
VC Fund
4 China Series A, Seed, Angel Robotics, Aerospace, Automotive $1.4M–$43M
Yellow River Delta Industrial Investment Fund
VC Fund
4 China Series A, Angel Carbon Capture, Fuel, Energy
Tencent
VC Fund
4 China, United States, United Kingdom Series B, Series A, Series C Software, Financial Services, Artificial Intelligence $3M–$418M
Yingke Capital
VC Fund
4 China, United States, Taiwan Series B, Seed Health Care, Biotechnology, Manufacturing $468k–$412M
Sinovation Ventures
VC Fund
4 China, United States, Hong Kong Series A, Seed, Series B Artificial Intelligence, Software, Health Care $1M–$62M
Hefei Innovation Investment
VC Fund
4 China Series A, Series B, Seed Manufacturing, Industrial, Advanced Materials $1.4M–$200M
CDH Investments
VC Fund
4 China, United States, Canada Series A, Series B, Series C Manufacturing, Health Care, Biotechnology $7.1M–$220M
China Merchants Zhiyuan Capital
VC Fund
4 China Series A, Seed, Series B Manufacturing, Energy, Semiconductor $1.4M–$185M
Summitview Capital
VC Fund
4 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Electronics $412k–$266M
Hua Capital
VC Fund
4 China, United States Seed, Series A, Series B Manufacturing, Semiconductor, Electronics $4.7M–$145M
GGV Capital
VC Fund
4 United States, China, Singapore Series B, Series A, Series C Software, Information Technology, Artificial Intelligence $4.5M–$150M
Tianjin Venture Capital
VC Fund
4 China, United States Venture - Series Unknown, Seed Manufacturing, Information Technology, Biotechnology $462k–$41M
Caixin Capital
VC Fund
4 China Series A, Series B, Series C Manufacturing, Robotics, Biotechnology $1.4M–$222M
Glory Ventures
VC Fund
3 China, Israel, United States Series A, Seed, Series B Artificial Intelligence, Software, Manufacturing $3M–$227M
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
Tsinghua Capital
VC Fund
3 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Biotechnology $436k–$74M
CGN Industrial Investment Fund Management
VC Fund
3 China Seed, Series A, Series C Manufacturing, GreenTech, Automotive $22M–$72M
Midea Group
VC Fund
3 China, Germany, United States Series A, Series C, Series B Manufacturing, Software, Robotics $1.1M–$19M
Ding Xiang Capital
VC Fund
3 China Seed, Series A, Angel Manufacturing, Solar, Energy $2.9M–$23M
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Investor list

Matrix Partners China
VC Fund · Beijing, Beijing, China · 15 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, Software, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 667
  • Round size: Seed $1.5M–$74M; Series A $2.9M–$56M; Series B $10M–$141M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $92M in 2023

Portfolio highlights

  • Lexin — LexinFintech Holdings is an online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng online investment platform, and theCompany's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions. By serving the credit needs of China's educated young adults, Lexin helps its more than 20 million registered users to enjoy a better quality of life through the use of better credit.
  • Camera360 — Camera360 is a professional but easy-to use App for photo editing and selfie retouching. Tag #camera360
  • Liepin — Liepin is the largest and most professional high-end talent community-based recruitment site, with its innovative products and unique service model model for create an interactive high-end talent recruitment platform between business, headhunting and workplace. Tens of thousands of professional executive search consultant for businesses and jobseekers set up communication between the bridge and accelerate corporate recruitment process, recommended paying jobs in the workplace, career development planning. 16 job seekers to avoid the risk of privacy protection, millions of high-end elite member libraries, help enterprises development needs.
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 14 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: 360
  • Round size: Seed $1.4k–$14M; Series A $1.6M–$30M; Series B $11M–$48M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: May invest from a new fund soon — raised $241M in 2021

Portfolio highlights

  • Ibeki — Ibeki provides tiny photoelectric displacement sensors and servo control systems. eBridge uses the high precision and miniaturization of its precision motion drive technology to provide customers with a more complete technology portfolio, and has successfully transformed its core technology into a number of military and civilian products,particularly in aerospace, medical equipment, and intelligent control.
  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Ruimeng Semiconductor — Ruimeng Semiconductor is a provider of intelligent human-machine interface processor chips and solutions.
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Cowin Capital
VC Fund · Shenzhen, Guangdong, China · 11 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: 354
  • Round size: Seed $1.4M–$20M; Series A $4M–$76M; Series B $7.2M–$50M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — raised $75M in 2014

Portfolio highlights

  • Bytetree — Bytetree is a technology company that focuses on providing the one-stop AI data services for data collection, cleaning, labeling, management, and storage for OEMs and autonomous driving solution providers, covering bicycle intelligence. , vehicle-road coordination, and smart cockpit three scenarios.
  • Digital China — Digital China is a robotics company focused on developing humanoid interactive robots that can break traditional boundaries and create emotionally resonated partners.
  • Kiri Innovation — KIRI Innovation develops affordable and innovative 3D scanners. Phiz 3D Scanner is a low cost, high precision laser 3D scanner that works with smartphones. Using today's phone camera and powerful CPU, a laser 3D scanner has never been so affordable and smart.
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K2VC
VC Fund · Beijing, Beijing, China · 10 investments in China Impact startups, 12 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 298
  • Round size: Seed $1.4M–$14M; Angel $356k–$5M; Series A $1.4M–$38M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely actively investing — fresh fund, raised $31M in 2025

Portfolio highlights

  • Quantex — Quantex is committed to focusing on the next generation of information technology and integrated circuit fields, and is dedicated to the in-depth research and development of 3.2T/6.4T photonic integrated chips (PIC), optical modules and CPO (co-packaged optics) solutions, leading the localization of high-end optical transmission chips.
  • XinYang Micro — Xinyangwei is an early stage underwater sensing chip startup specializing in CMUT (Capacitive Micromachined Ultrasonic Transducer) technology. The company provides integrated acoustic sensing modules and 3D imaging components designed to give pool cleaning robots intelligent near field path planning and mapping capabilities.
  • 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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GSR United Capital
VC Fund · Beijing, Beijing, China · 9 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, Automotive, Robotics
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 223
  • Round size: Seed $450k–$14M; Series A $794k–$16M; Series B $789k–$50M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $69M in 2025

Portfolio highlights

  • Tec-do — 1.Tec-Do 2.0 is a leading AI martech company delivering result-centric marketing solutions for global business growth.
  • PhotoG — PhotoG is an international GenAI content marketing tool supplier. It operates in the fields of overseas content marketing and generative AI, with a focus on visual content development and e-commerce brand marketing.
  • Dewu Additive — Dewu Additive is a high-tech company at the forefront of 3D printing innovation, specializing in developing cutting-edge additive manufacturing solutions. The company focuses on creating advanced 3D printing technologies and materials for a wide range of industries, including aerospace, automotive, healthcare, and manufacturing.
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HSG
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 8 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 1019
  • Round size: Seed $2M–$50M; Series A $3.1M–$100M; Series B $11M–$226M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — raised $2.5B in 2024

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Suisheng Technology — Suisheng Technology is an innovative company specializing in AI-driven memory services, dedicated to developing intelligent solutions that help individuals and businesses capture, organize, and retrieve important information with greater efficiency and precision.
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Shunwei Capital
VC Fund · Beijing, Beijing, China · 8 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: 600
  • Round size: Series A $1.5M–$35M; Series B $8.2M–$50M; Series C $20M–$105M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • uban — Uban provides an internet office leasing and trading services platform that helps to connect owners, customers and brokers, corporate customers in order to provide office rental and follow-up services, enabling its clients to receive real estate related services through a single portal. The company is based in Beijing, China.
  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • Deepin kernel — Deep Kernel offers customizable AI infrastructure and core-engine services to businesses.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 8 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: 310
  • Round size: Seed $462k–$73M; Series A $1.5M–$70M; Series B $3M–$60M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $860M in 2021

Portfolio highlights

  • Sandstone — SandStone is a product, solution and service provider focused on next-generation data storage (ServerSAN), which is dedicated to helping users cope with data storage, traffic and data management complexity, helping users build storage virtualization and Computation of virtualization as the core cloud computing infrastructure environment, andgradually provide data processing, mining, analysis and intelligence in the field of big data professional systems and services.
  • Strongest Laser — Strongest Laser is a high-power fiber laser equipment developer.
  • Sungen Biomedical — Sungen Biomedical is an innovative antibody drug R&D enterprise. It has established international standard technology platforms and original biological macromolecular R&D pipelines. Their focus includes therapeutic drugs for cardiovascular and cerebrovascular diseases, tumors, and more.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 8 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: 1160
  • Round size: Series A $4.3M–$50M; Series B $8M–$89M; Series C $12M–$120M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: Likely actively investing — fresh fund, raised $8M in 2026

Portfolio highlights

  • LP Amina — LP Amina focuses on products that improve coal-fired power plant's emissions and efficiency. Leveraging 50 unique patented products to improve the firing system of a coal-fired boiler, including Rotating Vane Wheels, High Performance Classifiers, Coal Pipe Balancing Technologies, and Burner Enhancements, the Company provides products andsolutions that will meet or exceed the expectations of their customers. Furthermore, LP Amina's corporate culture is one of a relentless pursuit of continuous improvement. Utilizing the latest technology and traditional know-how from the World's two largest users of Coal for power generation, the Company is well positioned to develop new products and solutions to meet the ever changing needs of Power Industry.LP Amina's staff has over 20 years of experience in the design, fabrication, installation and commissioning of coal-fired power plants. During this time, the team has gained a wide range of experience from the evolution of the US Power Market. Increases in environmental regulations and free market driven energy prices have forced plant operators to reduce emissions and improve reliability while lowering operational cost. LP Amina's engineering and design team will leverage this experience gained from the US and Europe to address the emergence of similar issues in China.
  • Nice Tuan — Nice Tuan is an e-commerce platform that provides daily groceries and miscellaneous products.
  • Windward Bio — Windward Bio is a clinical-stage, drug development company committed to improving outcomes for people living with serious immunological diseases.
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Linear Capital
VC Fund · Shanghai, Shanghai, China · 6 investments in China Impact startups, 25 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 94
  • Round size: Seed $1.4M–$122M; Angel $1.4M–$122M; Series A $5.7M–$29M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $300M in 2022

Portfolio highlights

  • Zhengqi Future — Zhengqi Future focuses on developing embody intelligent robots for a 3km radius living environment.
  • 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.
  • DeepPu Intelligence — DeepPu Intelligence is a high-tech enterprise specializing in the research, development, and innovation of intelligent robotic technologies. The company focuses on creating advanced robotic systems that integrate artificial intelligence, machine vision, and automation to serve a wide range of industries, including manufacturing, logistics,healthcare, and service sectors.
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China Merchants Venture Capital
VC Fund · Shenzhen, Guangdong, China · 6 investments in China Impact startups, 6 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 179
  • Round size: Series A $1.5M–$74M; Series B $2.9M–$177M; Series C $14M–$132M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Euler Universal — Euler Universal is a technology startup focused on the study and development of embedded smart home technologies.
  • Shengqiang Technology — Shengqiang Technology is an autonomous, innovative high-tech firm that combines R&D, manufacturing, and commercialization. It has adhered to its development strategy of being a leader in pathology digitalization, a creator of pathology information, an integrator of pathology intelligence, and an advocate for functional pathology from itsinception.
  • Hangzhou Xynova Technology Co. — Hangzhou Xynova Technology Co. develops robotic components, including dexterous hands, rotary actuators, and linear actuators.
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Fresh Capital
VC Fund · Huangpu, Shanghai, China · 6 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, E-Commerce, Artificial Intelligence
  • Stage:Series A, Series B, Seed
  • Geography: China, Germany

Investor stats

  • Total investments: 39
  • Round size: Seed $13M–$15M; Series A $1.6M–$146M; Series B $3.1M–$211M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $93M in 2021

Portfolio highlights

  • AGILINK — AGILINK is a high-tech enterprise specializing in the research and development of intelligent robots, committed to combining advanced technologies such as artificial intelligence, automation, and intelligent control systems to deliver innovative robotic solutions for industrial, commercial, and service applications.
  • Boden Intelligence — BodenAI focuses on providing customers with high-quality data services, mainly providing a full range of process services
  • Lightwheel — Light Wheel Intelligence is offers automated, physically precise and controllable, real and generalizable synthetic data solutions to build AI data infrastructure,
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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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Innoangel Fund
VC Fund · Beijing, Beijing, China · 6 investments in China Impact startups, 73 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 291
  • Round size: Seed $452k–$29M; Angel $425k–$14M; Series A $1.5M–$28M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Dongthink — Dongthink transform real-world actions and interactions into reusable, scalable training data.
  • Qianjue Technology — Qianjue Technology is a company that created the first full-stack application-level robot model and offers cloud-based artificial intelligence solutions to robot manufacturers.
  • Xijian Technology — XiJian Technology operates an intellectual property and commercialization pipeline for neuromorphic perception technology by implementing its proprietary "Tianmou" vision chip paradigm. Its architectural design mimics human retinal pathways by extracting discrete visual primitives at the hardware level to circumvent bandwidth constraintsin computational processing. This hardware-software approach provides an ultra-low latency, high dynamic range input layer tailored specifically for foundational world models and downstream physical robotic agents.
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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: 184
  • Round size: Series A $2.9M–$102M; Series B $10M–$142M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — raised $1B in 2019

Portfolio highlights

  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Mindverse — Create autonomous AI agents for your professional tasks. MindOS offers advanced AI solutions for a wide array of professional tasks. Let AI Work Like You.
  • 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.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 6 investments in China Impact startups, 27 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 287
  • Round size: Seed $1.4M–$10M; Angel $436k–$4.7M; Series A $1.4M–$28M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $78M in 2019

Portfolio highlights

  • Zeta Fusion — Zeta Fusion operates within the technology promotion and application services industry.
  • Tianxing Exploration — Tianxing Exploration is a company that provides development and manufacturing of satellite communication terminals.
  • Alphalong Technologies — Afalong Technology focuses on R&D of core AI and AR technologies and products, having developed advanced items like AI smart glasses, HemeltX all-in-one smart glasses, and specialized three-proof handheld terminals for smart glasses.
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ZhenFund
VC Fund · Beijing, Beijing, China · 5 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 699
  • Round size: Seed $150k–$15M; Angel $425k–$4.2M; Series A $899k–$23M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Ehang — Ehang is a technology enterprise focused on R&D and production in airplane and aircraft field. With the combination of software and hardware techniques, it self-developed the communication and real-time viewing hardware and a smartphone operation system. Its product, Ghost, is accepted as the first truly smartphone app operated intelligentrobot, which is widely used in geographical information surveying, professional television aerial filming, roadshow displaying, disaster rescuing and delivery, surveillance and monitoring, and even expected to play important role in the future logistics areas.Ehang was founded in 2014 by makers from China, America, and Singapore who are enthusiastic about drone flying. The enterprise’s core members graduated from Tsinghua University, Peking University, and Duke University in America.
  • Snowplus — SNOWPLUS is an e-cigarette brand that provides users with e-cigarette products through a combination of online and offline sales models. The products are available in 12 different types of flavors. The products use TrueFeel honeycomb ceramic atomization technology and Aeroflow intake. Technology; In addition to reference to the existing food-gradestandards in China, Xuejia has also passed a number of third-party certifications in terms of safety. The core components such as atomizing core and cigarette holder comply with the highest medical safety standards of the FDA and the European Union.
  • Futuring Robot — Futuring Robot is a developer of dual-arm home service robots focusing on C-end home scenarios.
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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: Manufacturing, Automotive, Energy
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Germany

Investor stats

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

Portfolio highlights

  • Yuan Planet — Youdi is a second-hand auto parts trading platform.
  • Wuxi Gongwang — Wuxi Gongwang inductive sensor developer offering high-precision, oil and dust-resistant products for various industries, including aerospace, automotive, medical care, and more.
  • Shifang Technology — Shifang Technology is a high-tech enterprise that provides integrated intelligent equipment for manufacturing industries.
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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 5 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: 343
  • Round size: Seed $1.4M–$65M; Series A $1.5M–$74M; Series B $8M–$150M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Violoop — Violoop is a Chinese AI hardware startup Specializes in AI-PC automation hardware as a "physical-level AI Operator", bridging legacy software and AI agents for 24/7 workflows without APIs.
  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
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Hefei Industry Investment Group
VC Fund · Hefei, Anhui, China · 5 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: 91
  • Round size: Series A $9.6M–$101M; Series B $14M–$295M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely actively investing — fund raised in 2026

Portfolio highlights

  • Xinming — Xinming is a high-tech enterprise focusing on spatial computing and artificial intelligence chip and product design.
  • Surgerii Technology — Beijing Surrey is a technology company founded by an industry elite active in China's medical equipment. Relying on the core technology of the new generation of flexible continuum robotic arm, running through the implementation paradigm of many types of clinical minimally invasive surgery, and harnessing the powerful system design andintegration capabilities, Beijing Shurui is committed to becoming the first independent independent research and development, production and sales in China.
  • Hangke Platinum Technology — Hefei Hangke Borui focuses on the R&D and production of advanced thermal barrier and high-temperature corrosion-resistant coatings.
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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: 356
  • Round size: Seed $2.8M–$100M; Series A $1.6M–$75M; Series B $14M–$120M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely still investing — raised $185M in 2022

Portfolio highlights

  • Tianji — Tianji develops industrial robotics and intelligent system solutions focused on improving automation in manufacturing environments. The company designs and integrates robot-based systems, including industrial robots, automation equipment, and intelligent production line solutions. It applies technologies such as machine vision, motion control, andedge computing to support tasks like production automation, quality inspection, and logistics handling. Its solutions are used across industries such as manufacturing, healthcare, and new energy to help optimize operational processes and improve safety.
  • Cascade — Cascade produces novel medications that target nuclear receptors for treating metabolic disorders and inflammation.
  • Inno Medicine — Inno Pharmaceutical Technology specializes in research on the pathogenesis of atherosclerosis. The company focuses on the development of targeted nanoliposomes, targeting molecules with independent intellectual property rights, and currently focuses on the plaque reversal treatment of atherosclerosis.
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IDG Capital
VC Fund · Beijing, Beijing, China · 5 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 1127
  • Round size: Series A $2.6M–$100M; Series B $7M–$112M; Series C $15M–$354M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • AIxCrypto — Qualigen is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases, as well as the expansion of its flagship FastPack® diagnostic platform.
  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Bivision — Biovision Pharma is a biomedical enterprise focusing on the research and development of targeted radiopharmaceuticals (TRT) integrated with visual diagnosis and treatment.
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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: 623
  • Round size: Series A $1.5M–$128M; Series B $10M–$141M; Series C $4.4M–$156M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

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

Bojiang Capital is a global finance services organization.

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Seed $500k–$15M; Series A $1.5M–$32M; Series B $5.1M–$43M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Jingjie Energy — Jingjie Energy develops the Starlink Magnetic Mirror, a highly commercial nuclear fusion solution.
  • Yanhe Technology — Yanhe Technology provides solar power generation technology-related services.
  • Yitai Microelectronics — Yitai Microelectronics is an automotive Ethernet chip developer company that specializes on producing high-performance, high-reliability, and low-power automotive Ethernet communication chips and systems.
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Dongfang Jiafu
VC Fund · Hangzhou, Zhejiang, China · 4 investments in China Impact startups, 23 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: 66
  • Round size: Seed $14M–$15M; Series A $14M–$42M; Series B $28M–$100M
  • Lead/follow: 26% lead, 74% 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.
  • TianShu Yaoguang — Tianshu Yaoguang creates artificial intelligence systems for geometric design and optimization in advanced manufacturing.
  • Logicbit Technology — Logic Bit is a developer of large-scale superconducting quantum computing devices. Logic Bit has established technological reserves that encompass the full process of superconducting quantum chip design, micro-nano processing, radio frequency control, quantum computation, and simulation.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 16 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: 194
  • Round size: Seed $299k–$13M; Angel $303k–$6.5M; Series A $929k–$15M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: Likely still investing — raised $57M in 2022

Portfolio highlights

  • LibLib AI — LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd.
  • Guangyu Yuanxin — Guangyu Yuanxin is a semiconductor technology service provider that specializes in offering ultra-high precision display screen services for metaverse HMI devices like AR and VR.
  • 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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Contemporary Amperex Technology
VC Fund · Xining, Qinghai, China · 4 investments in China Impact startups, 15 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: Manufacturing, Automotive, Electric Vehicle
  • Stage:Corporate Round, Series A, Series B
  • Geography: China, Finland, Australia

Investor stats

  • Total investments: 53
  • Round size: Series A $46M–$7.4B; Series B $30M–$1.1B; Corporate Round $35M–$418M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • Deep Intelligent Control — Deepin Intelligent Control is a smart energy innovation company.
  • Eyou Robot — Eyou Robot is involved in the research, development, production, and sale of humanoid robot drive systems. The company has developed precision control algorithms for joint drives and offers joint modules such as planetary, harmonic, and push rod types, which are used in humanoid robots' upper limbs, waist, and lower limbs. Their servo jointmodules are designed for stable performance and cost-efficiency, supporting mass production. These modules are used in areas like collaborative robotics, medical devices, industrial automation, and intelligent manufacturing, contributing to the development of humanoid robots in various sectors, including industrial, commercial services, education, and entertainment.
  • Beta Fusion — Beta Fusion is commercializing controlled nuclear fusion by utilizing the Field-Reversed Configuration pulsed fusion technology route.
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Hidden Hill Capital
VC Fund · 4 investments in China Impact startups

Hidden Hill Capital is an investment firm.

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Investment focus

  • Industry: Manufacturing, Logistics, Energy
  • Stage:Series B, Series A, Seed
  • Geography: China, Hong Kong, Indonesia

Investor stats

  • Total investments: 44
  • Round size: Seed $14M–$300M; Series A $9.5M–$1.5B; Series B $14M–$295M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $465M in 2022

Portfolio highlights

  • Zhiyu Veken — Zhiyu Veken is a new energy-intelligent connected commercial vehicle technology company.
  • Corepilot — CorePilot builds digital chip verification EDA tools and high-speed interface controller IPs.
  • Matrix Optoelectronics Technology — Matrix Optoelectronics is a quantum computing technology developer that specializes in the research and development of large-scale fault-tolerant superconducting quantum computing technology.
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Flyfot Ventures
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 15 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, Medical, Electronics
  • Stage:Series A, Series B, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 45
  • Round size: Seed $1.5M–$72M; Series A $452k–$122M; Series B $7.9M–$15M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • NK-Quantum — NK-Quantum is a quantum computing firm dedicated to the independent research, development, and engineering of underlying system architectures for neutral atom quantum computing.
  • Lingyu Intelligence — Lingyu Intelligence engages in the manufacturing and sales of industrial robots, intelligent robots and service consumer robots.
  • Yuanqi Semiconductor — Yuanqi Semiconductor generates and manufactures semiconductor device-specific equipment.
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Winreal Investment
VC Fund · Shanghai, Shanghai, China · 4 investments in China Impact startups, 14 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: 71
  • Round size: Seed $3.2M–$14M; Series A $2.8M–$15M; Series B $14M–$107M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $146M in 2020

Portfolio highlights

  • BitUnlimited — BitUnlimited specializes on AI-generated vector 3D models in the study and production of intelligent robots. The company specializes in intelligent robot research and development, AI infrastructure and application development, industry system integration, and intelligent robot sales. BitInfinite Intelligence's sophisticated technology andinnovative solutions exhibit great growth potential in the realm of intelligent robots.
  • Xihu Xinchen — Xihu Xinchen is a technology company focusing on the research and development of artificial intelligence services.
  • Chengdu Zhongweida Xinko Technology — Chengdu Zhongweida Xinko Technology is an IT firm that specializes in quantum computing and control technology products.
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Nanotrend Capital
VC Fund · 4 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Series A $1.4M–$43M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Huafeng Core — Huafeng Core is a specialized provider of advanced chip packaging and testing solutions, delivering comprehensive semiconductor services that cover precision packaging technologies, rigorous quality testing, performance validation, and reliability assurance to meet the evolving demands of the global electronics and integrated circuit industries.
  • Bingling Intelligence — Bingling Intelligence is a firm that makes vehicle sensors. Its major products are energy efficiency management sensors, which are utilized in three electrical systems: battery system management, motor drive control, and new energy vehicle power modules.
  • Xiangsheng New Materials — Xiangsheng New Materials utilizes its proprietary multiphase flow microreactor platform to mass-produce bio-based furan materials like FDCA and PEF. The company advances material innovation in polyester films, nano-coatings, and organic optoelectronics through bio-enzyme and nanocatalyst technologies.
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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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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: 873
  • Round size: Series A $3M–$157M; Series B $15M–$256M; Series C $23M–$418M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • BYJU'S — BYJU’S is a global ed-tech company that provides highly adaptive, engaging, and effective learning solutions to more than 150 million students around the world. Founded in India in 2011, BYJU's mission is to make high-quality learning accessible to students everywhere.The BYJU's family of brands includes Disney-BYJU's Early Learn,BYJU's FutureSchool, Epic!, Osmo, Tynker, Toppr, and WhiteHat Jr., along with the company’s beloved flagship product, BYJU's: The Learning App. Together, BYJU's solutions support pre-K–12 education and a wide range of competitive exams.BYJU’S delivers a world-class learning experience with tools that sit at the crossroads of mobile, interactive content, and personalized learning methodologies. Byju's geography-agnostic solutions and 12,000+ teachers make learning engaging with visual and contextual programs that adapt to the unique learning style, skill level, and pace of each student. In addition, BYJU’S has innovative partnerships with some of the world's largest companies, including Disney and Google, to drive engagement and help even more students become active and lifelong learners.BYJU’S is backed by blue-chip investors including the Chan-Zuckerberg Initiative, Sequoia Capital, Bond Capital, Silver Lake, BlackRock, Sands Capital Management, Alkeon Capital Management, Sofina, Verlinvest, Tencent, Prosus (previously Naspers Ventures), CPPIB, General Atlantic, Tiger Global, Qatar Investment Authority, Owl Ventures, Lightspeed Venture Partners, Times Internet, Aarin Capital, and IFC. Since 2017, BYJU’S has completed more than 15 acquisitions, including companies in the U.S., UK, Austria, India, and Singapore. A 2021 Time 100 Most Influential Company, BYJU’S is headquartered in India, with operations in more than 21 countries globally and learning programs in more than 8 languages.
  • Utaite — Utaite is an operator of an entertainment platform that focuses on planning, production, and development of entertainment content.
  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
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Yingke Capital
VC Fund · Fuzhou, Jiangxi, China · 4 investments in China Impact startups

Yingke Capital is a principal investment firm specializing in pre-IPO investments. It seeks to invest in 5G internet of things, biomedical, environmental and facilities services, new energy, consumer upgrade, smart manufacturing and materials sector. Yingke Capital prefers to invest in companies with high technology R&D and productioncapacity. Mingfei Qian founded it in 2010, with its headquarters in Fuzhou in China.

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Investment focus

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

Investor stats

  • Total investments: 103
  • Round size: Seed $468k–$74M; Series B $14M–$412M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Listenai — Listenai is an enterprise that provides AI chips and industry solutions for the field of artificial intelligence and the Internet of Things.
  • Physen AI — Physen AI is a specialized physical interaction data infrastructure company focused on the embodied intelligence and robotics sector.
  • Vita Dynamics — Vita Dynamics involves learning through real-world interactions by developing robots that can physically engage with their environment, they can adapt more naturally and efficiently.
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Sinovation Ventures
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 16 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 352
  • Round size: Seed $1M–$14M; Series A $1.4M–$32M; Series B $3M–$62M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $203M in 2022

Portfolio highlights

  • Hemu Intelligent — Hemu Intelligent is an early-stage Industrial AI startup focused on mold physical AI, manufacturing semantic computing, and industrial application. By leveraging deep learning on mechanical drawings and digitizing the experiential workflows of master technicians, the company builds an "AI Craft Brain".
  • Jiangxian Technology — Jiangxian Technology is a company focused on embodied intelligence, a field that integrates artificial intelligence with physical systems such as robots and smart devices, enabling machines to perceive, learn from, and interact with the real world in a more human-like and adaptive manner across applications like automation, healthcare, and advancedmanufacturing.
  • Ruilian Intelligent Computing — Ruilian Zhisuan is an AI computing infrastructure innovator that provides integrated hardware software solutions. Modeled after Google's Jupiter optoelectronic architecture, it features full stack OCS scheduling to replace traditional electronic switches with optical routing. This core technology drastically minimizes network latency andsystem power consumption for advanced AI calculation networks.
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Hefei Innovation Investment
VC Fund · Hefei, Anhui, China · 4 investments in China Impact startups, 15 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 52
  • Round size: Series A $1.4M–$122M; Series B $14M–$200M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Juhe Fusion — Juhe Fusion operates at the cutting edge of clean energy by developing next-generation Field-Reversed Configuration (FRC) magnetic confinement technology. It rapidly captured global industry attention after securing a massive seed and angel funding round backed by tier-one venture firms, including Hillhouse Capital, HongShan, and regionalgovernment investment funds. Unlike traditional, massive tokamak reactors, Juhe Fusion aims to leverage its compact FRC architecture to accelerate the commercial timeline and economic viability of fusion energy.
  • Han Hydropower — Han Hydropower is a hydroelectric technology company that specializes in the research and development of aerospace and hydrogen energy power systems.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 4 investments in China Impact startups, 44 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 322
  • Round size: Series A $7.1M–$195M; Series B $14M–$141M; Series C $30M–$220M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • VAST — VAST is an artificial intelligence business that develops and manufactures general-purpose 3D big models. Its goal is to develop a popular 3D content production tool, a 3D user-generated content platform, and utilize 3D space to enhance user experience.
  • Dingxi Zhichuang — Dingxi Zhichuang is an integrated circuit chip developer specializing in the manufacture, design, and services of integrated circuit chips and products, as well as sales and the manufacturing of semiconductor device special equipment.
  • Deep Space Matrix Technology — Deep Space Matrix Technology's long-term objective is to benchmark against SpaceX and progressively construct a Chinese equivalent of an integrated air, space, and sea superintelligent system.
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China Merchants Zhiyuan Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Series A $1.4M–$185M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • ENN Energy Research Institute — ENN develops technologies and conducts research focused on sustainable energy solutions. The company works on proton-boron fusion, compact fusion systems, and other advanced energy generation approaches. Its services include designing experimental fusion reactors, modeling plasma behavior, and developing computational tools for energy simulations.ENN also engages in partnerships with universities, research institutes, and industry organizations to advance innovation in energy science. The company supports efforts to create scalable, low-carbon energy technologies and to explore applications in electricity generation and related scientific research.
  • ENN Fusion — ENN Fusion is a commercialization company that specializes in research and commercial application of spherical cyclic hydrogen-boron fusion technology.
  • Zhenye New Materials — Zhenye New Materials seeks to establish a top-notch production and research and development platform for intelligent marine protection materials by concentrating on the strategic requirements of maritime power.
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Summitview Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 14 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $412k–$266M; Series A $14M–$147M; Series B $7.3M–$143M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $1.7B in 2014

Portfolio highlights

  • Qiuzhi Technology — Qiuzhi Technology focused on merging artificial intelligence and robotics, with an objective of bringing robots into households.
  • Yuanli Semiconductor — Yuanli Semiconductor develops and supplies an innovative AI computing power infrastructure.
  • Jingsheng Superconductor — Jingsheng Superconductor focuses on the R&D and commercial scale-up of second-generation double-sided REBCO high-temperature superconducting tapes. The company builds proprietary equipment and refines manufacturing processes to achieve synchronized, uniform deposition on both sides of the tapes. Its primary objective is to supply thesehigh-performance conductors to downstream industries requiring intense magnetic fields. The core commercial application of its output is targeted at the development of controlled nuclear fusion systems.
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Hua Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Impact startups, 32 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: 88
  • Round size: Seed $14M–$74M; Series A $7M–$143M; Series B $4.7M–$145M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • 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.
  • Sisheng Technology — Siasun Technology focuses on the research and development of the "Ultrasound Brain-Computer Interface" platform.
  • Brain-Machine Technology — Brain-Machine Era is a high performance brain computer interface platform building non invasive, high throughput ultrasound whole brain systems. Using functional ultrasound neuroimaging (fUSI), it reads out deep brain activity through the skull without standard electrode implantation risks. The platform aims to connect human brains directly with AIsystems for both medical rehabilitation and consumer applications.
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GGV Capital
VC Fund · Menlo Park, California, United States · 4 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 861
  • Round size: Series A $4.5M–$66M; Series B $11M–$60M; Series C $15M–$150M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $147M in 2024

Portfolio highlights

  • CYGNUSEMI — Cygnus Semi is a semiconductor chip technology company that focuses on 5G IoT applications.
  • Startorus Fusion — Startorus Fusion focuses on developing and commercializing fusion energy technologies, aiming for controllable device miniaturization, commercialization, and fast iteration, integrating design, R&D, operation, and maintenance.
  • SiliconFlow — Silicon Mobile Technology is an AI ​​infrastructure company that specilaizes in large models inference and deployment system to reduce the cost in the AIGC and LLM industries.
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Tianjin Venture Capital
VC Fund · Tianjin, Guangdong, China · 4 investments in China Impact startups

Tianjin Venture Capital is an investment firm.

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Investment focus

  • Industry: Manufacturing, Information Technology, Biotechnology
  • Stage:Venture - Series Unknown, Seed
  • Geography: China, United States

Investor stats

  • Total investments: 109
  • Round size: Seed $462k–$15M; Venture - Series Unknown $4.4M–$41M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Riyao Solar — Riyao Solar is a solar-tech company that specializes in the development and production of new perovskite solar cells and solar power generation.
  • Yuantian Bio — Yuantian Bio is a biotechnology company specializing in enzymatic regeneration and commercial plastic PET applications. They have achieved low-cost fermentation preparation of over 10 enzyme preparations and large-scale biochemical product preparation.
  • Innovec Biotherapeutics — Innovec Biotherapeutics Specialized in gene therapy technology and medication development.
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Caixin Capital
VC Fund · Hunan, Fujian, China · 4 investments in China Impact startups, 18 in the past 12 months

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, Robotics, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China

Investor stats

  • Total investments: 26
  • Round size: Series A $1.4M–$74M; Series B $145M–$217M; Series C $43M–$222M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Feijiecos — Feijieke is a smart technology supplier that specializes in smart technology and offers intelligent solutions, such as smart hardware, software development, and system integration.
  • Zhuoyu Electric — Zhuoyu Technology develops and manufactures standardized core components for embodied intelligent robots, including frameless torque motors, servo drives, joint modules, and linear actuators. The company also provides customized design services to meet specific client performance requirements. Additionally, it creates embodied intelligent compliantforce-controlled arms and data acquisition systems.
  • Yanhe Technology — Yanhe Technology provides solar power generation technology-related services.
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Glory Ventures
VC Fund · Shanghai, Shanghai, China · 3 investments in China Impact startups

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

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Investment focus

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

Investor stats

  • Total investments: 101
  • Round size: Seed $3M–$14M; Series A $7.1M–$113M; Series B $14M–$227M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Kongshanci — Kongshanci specializes in non-invasive brain-computer interfaces and neuromodulation.
  • Botai Automation — Botai Automation is specialized in CNC system research and development. Its CNC system can be used in machine tools, including drilling and tapping machines, turning and milling compound machining centers and their control accuracy, stability, and performance outperform earlier products of the same type.
  • Intelligent Knowledge — Intelligent Knowledge focuses on automated knowledge acquisition and integration, using advanced artificial intelligence and data processing technologies to extract, organize, and manage structured knowledge from complex and diverse information sources.
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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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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 3 investments in China Impact startups, 40 in the past 12 months

Tsinghua Capital is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 99
  • Round size: Seed $1.4M–$74M; Angel $436k–$15M; Series A $8.3M–$18M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Acorn Robot — Acorn Robot is a pioneering Chinese Embodied AI and robotics startup focusing on instincts like physical grasping and hardware reflex.
  • Sisheng Technology — Siasun Technology focuses on the research and development of the "Ultrasound Brain-Computer Interface" platform.
  • Xijian Technology — XiJian Technology operates an intellectual property and commercialization pipeline for neuromorphic perception technology by implementing its proprietary "Tianmou" vision chip paradigm. Its architectural design mimics human retinal pathways by extracting discrete visual primitives at the hardware level to circumvent bandwidth constraintsin computational processing. This hardware-software approach provides an ultra-low latency, high dynamic range input layer tailored specifically for foundational world models and downstream physical robotic agents.
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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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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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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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Impact VC funding in China at a glance

Stats across 855 deals from 1.3k investors.

1.3k
investors
in China Impact startups
855
deals
in China Impact startups
$14M
median round
in China Impact startups
38%
lead investors
lead at least one round
26%
Series A
most common funding stage

Access all 1298 VC funds in China Impact startups.

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