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Top 45 Infrastructure VC Funds & Investors in China (September 2026)

The most active venture capital funds investing in China Infrastructure startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Infrastructure startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Sinovation Ventures
VC Fund
3 China, United States, Hong Kong Series A, Seed, Series B Artificial Intelligence, Software, Health Care $1.3M–$74M
Glory Ventures
VC Fund
3 China, Israel, United States Series A, Seed, Series B Software, Artificial Intelligence, Manufacturing $3M–$251M
Singtel Innov8
VC Fund
2 United States, Singapore, China Series A, Series C, Series B Software, Cyber Security, Artificial Intelligence $4M–$70M
Future Capital Discovery Fund
VC Fund
1 China, United States, Singapore Seed, Angel, Series A Artificial Intelligence, Software, Robotics $291k–$15M
Hanfor (Beijing) Capital Management
VC Fund
1 China, United States Series B, Series C, Series A Medical, Health Care, Artificial Intelligence $1.5M–$80M
Mount Morning Capital
VC Fund
1 China Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $1.5M–$38M
ZJ Innopark (Zhangjiang Hi-Tech Park)
VC Fund
1 China, United States Series A, Series B, Series C Manufacturing, Semiconductor, Robotics $2.9M–$1.2B
Funding Global Innovation
VC Fund
1 China Series C, Series A, Series B E-Commerce, Manufacturing, TV $5.3M–$1.2B
CMF Venture Capital
VC Fund
1 China Series A, Series C Hardware, Electronics, Manufacturing
Deutsche China Capital
VC Fund
1 China Series A, Series C Hardware, Electronics, Manufacturing
Shenzhen Capital Group
VC Fund
1 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
Xinxing Fund
VC Fund
1 China Series B, Series A, Series C Health Care, Biotechnology, Medical $15M–$32M
Qianshan Capital
VC Fund
1 China, United States Angel, Series A, Series C Robotics, Software, Child Care $458k–$1.5M
Huasuanbang Group
VC Fund
1 China Seed Construction, Infrastructure
Yuhang Transportation Investment Group
VC Fund
1 China Series A Infrastructure, Transportation, Autonomous Vehicles
Alibaba Cloud
VC Fund
1 China, Australia, Saudi Arabia Series A, Seed, Series B Artificial Intelligence, Software, Information Technology $1.4M–$140M
Aerospace Development Industry Investment Group
VC Fund
1 China Seed Aerospace, Infrastructure, Information Services
Tongxinyuan Group
VC Fund
1 China Seed Semiconductor, Infrastructure, Application Specific Integrated Circuit (ASIC)
Source Code Capital
VC Fund
1 China, United States, Singapore Series A, Series B, Series C Artificial Intelligence, Software, Manufacturing $2.3M–$200M
SIIC Investment
VC Fund
1 China Series A, Series C Hardware, Electronics, Manufacturing
China Structural Reform Fund
VC Fund
1 China, Israel, Hong Kong Series A, Series B, Series C Manufacturing, Semiconductor, Biotechnology $6.8M–$2.5B
Hua Di Investment
VC Fund
1 China Post-IPO Equity, Series A Manufacturing, Hardware, Wireless $1.5M–$7.2M
Shenzhen Angel FOF
VC Fund
1 China, Switzerland, United States Series A, Seed, Series B Artificial Intelligence, Hardware, Robotics $1.4M–$29M
Shunding Wulian
VC Fund
1 China Seed Construction, Infrastructure
Huajia Investment
VC Fund
1 China Seed Construction, Infrastructure
Tsinghua Capital
VC Fund
1 China, Australia Seed, Angel, Series A Manufacturing, Artificial Intelligence, Biotechnology $432k–$74M
Tencent
VC Fund
1 China, United States, United Kingdom Series B, Series A, Series C Software, Financial Services, Artificial Intelligence $3M–$418M
Hongsheng Capital
VC Fund
1 China Angel, Series A, Seed Health Care, Medical, Hospital
Zhipu AI
VC Fund
1 China Seed, Angel, Series A Artificial Intelligence, Software, Robotics $1.5M–$100M
Dongfeng Asset Management
VC Fund
1 China, United States Series A, Series C Manufacturing, Automotive, Energy $29M–$525M
China Growth Capital
VC Fund
1 China, United States, Hong Kong Series A, Series B, Seed Software, Information Technology, E-Commerce $1M–$48M
Vertex Ventures Israel
VC Fund
1 Israel, United States, Canada Series A, Series B, Series C Software, Information Technology, Artificial Intelligence $3.5M–$100M
H&Q Asia Pacific
VC Fund
1 United States, China, Taiwan Series A, Series B, Series C Information Technology, Software, Manufacturing $5.3M–$630M
Huanxu Real Estate
VC Fund
1 China Seed Construction, Infrastructure
Sino-Singapore Capital
VC Fund
1 China Seed, Series A, Series B Manufacturing, Medical, Electronics $1.6M–$30M
Intel Capital
VC Fund
1 United States, Israel, China Series B, Series A, Series C Software, Information Technology, Enterprise Software $4.6M–$90M
Puhua Capital
VC Fund
1 China, United Kingdom, United States Series A, Series B, Seed Health Care, Medical, Manufacturing $1.5M–$103M
Sumitomo Corporation Equity Asia
VC Fund
1 China, Singapore, United States Series A, Series B, Series C Software, Logistics, Health Care $1.4M–$70M
CRRC
VC Fund
1 China Series A, Venture - Series Unknown, Series B Manufacturing, Semiconductor, Automotive $1.5M–$360M
Puxin Capital
VC Fund
1 China, Switzerland, United States Series B, Series A, Series C Pharmaceutical, Information Technology, Sensor
Goldman Sachs
VC Fund
1 United States, India, China Series C, Series B Software, Financial Services, FinTech $13M–$139M
Z.ai
VC Fund
1 China Seed, Angel, Series A Artificial Intelligence, Software, Robotics $1.5M–$23M
Vertex Ventures
VC Fund
1 United States, China, Israel Series A, Series B, Series C Software, Information Technology, Artificial Intelligence $3M–$100M
360
VC Fund
1 China Seed Software, Infrastructure, Artificial Intelligence
AsiaInfo
VC Fund
1 China Seed, Angel Internet, Training, Education
Access all 144 VC funds in China Infrastructure startups.

Access 48,091 investors

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

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Investor list

Sinovation Ventures
VC Fund · Beijing, Beijing, China · 3 investments in China Infrastructure startups, 15 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: 330
  • Round size: Seed $1.3M–$14M; Series A $1.5M–$32M; Series B $4M–$74M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $203M in 2022

Portfolio highlights

  • Gestala — Gestala is China’s first pioneer in ultrasound-based Brain-Computer Interface (BCI). We are dedicated to engineering a platform with full-brain read-write capabilities, offering transformative therapeutic modalities for neurological disorders. Beyond clinical impact, we aim to decode the neural code and pave the way for a symbiotic future wherebrain science and artificial intelligence converge.
  • 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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Glory Ventures
VC Fund · Shanghai, Shanghai, China · 3 investments in China Infrastructure startups

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

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Investment focus

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

Investor stats

  • Total investments: 104
  • Round size: Seed $3M–$14M; Series A $7.3M–$126M; Series B $14M–$251M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $155M in 2024

Portfolio highlights

  • 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.
  • Vector Singularity — Vector Singularity is a cutting-edge technological business that researches and develops neutral atom quantum computers.
  • Yongquan Innovation — Yongquan Innovation is a technological firm that specializes in sophisticated desktop CNC machinery.
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Singtel Innov8
VC Fund · Singapore, Central Region, Singapore · 2 investments in China Infrastructure startups

Singtel Innov8, the venture capital arm of the Singtel Group, invests in and partners with innovative tech start-ups worldwide. It has a fund size of US$250 million and its own set of decision making, approval and funding processes. Beyond funding, Singtel Innov8 is a gateway for start-ups to tap on the resources and expertise of the Singtel Group,while enabling the Group to gain access to emerging technologies. Singtel Innov8 focuses its investments on technologies and solutions that can lead to quantum changes in network capabilities, next generation devices, digital services and enablers to enhance customer experience. Headquartered in Singapore, Singtel Innov8 also has offices in San Francisco and Tel Aviv.

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Investment focus

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

Investor stats

  • Total investments: 160
  • Round size: Series A $4M–$27M; Series B $8M–$60M; Series C $11M–$70M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $350M in 2010

Portfolio highlights

  • fileAI — Automate and analyze any file with AI. fileAI builds proprietary AI components for complex agentic workflow automation.
  • Omny Studio — Omny Studio offers enterprise-grade podcasting infrastructure for global publishers covering hosting, monetization and audience analytics.
  • TokenOne — TokenOne is a Cyber Security software company that makes it easy to replace passwords, tokens and other forms of authentication with a more secure solution.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure 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: 188
  • Round size: Seed $291k–$13M; Angel $409k–$8.9M; Series A $929k–$15M
  • Lead/follow: 20% lead, 80% 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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Hanfor (Beijing) Capital Management
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure startups

Hanfor (Beijing) Capital Management is a private equity firm that specializes in PIPE, and merger and acquisition investments.

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Investment focus

  • Industry: Medical, Health Care, Artificial Intelligence
  • Stage:Series B, Series C, Series A
  • Geography: China, United States

Investor stats

  • Total investments: 16
  • Round size: Series A $1.5M–$6.3M; Series B $3M–$79M; Series C $4.8M–$80M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • CMLabs — The Chain Medical Labs is a professional independent medical laboratory established from a team of experienced technical and management experts which is one of the Shanghai Chain medical investment management Inc. also alliance with few internationally renowned lab and vendors. The company utilize advanced testing methods, quality managementsystems, automation technology as Europe, America and Japan for their Clinical Diagnostics. CMLabs features in clinical laboratory services, clinical trial services, research services, and laboratory information system services to support all medical institutions, as well as assist to obtain ISO15189 certification, CAP accreditation (United States Association of pathology quality system), SOP process and external audit services.
  • WeRide — WeRide, A Smart Mobility Company With Leading L4 AD Technologies.
  • VoxelCloud — VoxelCloud provides automated medical image analysis services and diagnosis assistance based on AI and cloud computing technologies.The company provides to clinical practices and practitioners automated medical image analytics and diagnostics services based on artificial intelligence and cloud computing technologies. VoxelCloud'sproprietary algorithms offer accurate, accessible, and personalized medical image analysis through deep learning and related AI techniques. The company's current products cover lung cancer, retinal diseases, and coronary heart disease. VoxelCloud also has offices in Shanghai and Suzhou in China, as well as a satellite R&D team in Phoenix.The company was founded in Los Angeles in 2016.
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Mount Morning Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure startups

Mount Morning Capital is an investment firm that invests in healthcare and TMT industries.

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Investment focus

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

Investor stats

  • Total investments: 46
  • Round size: Seed $14M–$16M; Series A $1.5M–$24M; Series B $3M–$38M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • AI-LINK — AILINK is committed to being a pioneer and leader in mobile network and edge computing infrastructure in the AI era. The company currently focuses on intelligent manufacturing and other digital transformation scenarios. Its products are built on OICT (Operational and Information Communications Technology) integration, with a focus on industrial environments. AILINK offers end-to-end, scenario-driven 5G-to-B products and solutions, providing seamless industrial adaptation, enhanced smart operations, and simplified management. This enables plug-and-play deployment of private 5G network, accelerating the growth of new productivity models.
  • Kernelsoft — Kernelsoft focuses on automotive software and intelligence solutions. Its products and services are driven by autonomous systems that provide dependable safety verification.
  • Zhongke Jiahe — Zhongke Jiahe develops compilation technology and aspires to build a universal, low-cost, high-performance fundamental software tool chain.
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ZJ Innopark (Zhangjiang Hi-Tech Park)
VC Fund · Shanghai, Shanghai, China · 1 investments in China Infrastructure startups, 11 in the past 12 months

ZJ Innopark (Zhangjiang Hi-Tech Park), a national level industrial development zone, was founded in July 1992. It's parent company is 上海张江(集团)有限公司 -- Shanghai Zhangjiang (Group) Co., Ltd. It focuses on integration and innovation in industrial development, so as to draw on the benefits of integrated resources and comprehensive innovativeservices.The Zhangjiang Hi-Tech Park is a technology park in the Pudong district of Shanghai, China. It is operated by Zhangjiang Hi-Tech Park Development Co., Ltd. In some circles, the park is also known as China's Silicon Valley.After nearly two decades of development, Zhangjiang has established innovative industrial clusters in Integrated Circuits, Bio-Tech & Pharmaceutical, Software, Internet and Digital Media. Many of these enterprises are industry leaders in China's domestic market and some have reached to the global stage.By the end of 2010, Zhangjiang has been home to over 6,000 enterprises with combined total revenue of 102.1billion RMB. These enterprises attracts over 150,000 highly skilled hi-tech professionals.

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Investment focus

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

Investor stats

  • Total investments: 50
  • Round size: Series A $2.9M–$1.2B; Series B $21M–$143M; Series C $15M–$630M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Qisuan Kuang-Chi — Qisuan Kuang-Chi is a pioneering artificial intelligence hardware company focusing on the research, development, and engineering of AI optical computing chips and related system infrastructure. The company utilizes a proprietary all-optical interference technology architecture to bypass physical constraints found in legacy electronic chipsets,aiming to establish computational infrastructure for Artificial General Intelligence (AGI).
  • Mifeng Technology — Mifeng Technology provides an embodied intelligence data platform for AI and robotics applications.
  • Getong Intelligent Connectivity — Getong Intelligent Connectivity designs high-bandwidth, low-latency interconnect chips and network solutions for AI computing.
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Funding Global Innovation
VC Fund · San Francisco, California, United States · 1 investments in China Infrastructure startups

Funding Global Innovation

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Investment focus

  • Industry: E-Commerce, Manufacturing, TV
  • Stage:Series C, Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 9
  • Round size: Series A $40M–$1.2B; Series B $25M–$50M; Series C $5.3M–$630M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 5173.com — 5173.com is an advanced professional online trading e-commerce platform for online games and digital products in China. Founded in November 2002, its online game trading products involve various fields such as online game equipment, game currency, account numbers, point cards, leveling, props, and other digital point cards.
  • Meituan.com — Meituan.com is a group-buying website specializing in localized consumer services, offering a selection of local restaurants, bars and more.
  • Sinosun Technology — Sinosun Technology (兆日科技) is a Chinese company engaged in the research, development, manufacture, and sale of anti-counterfeiting technologies for the domestic bank industry.The company is focused on applying informational anti-counterfeiting technologies to the anti-counterfeiting of bills, combined with modern encryption technologies. Withconstant researches and innovations in modern encryption technology, security chip technology, information security, and automatic identification technology, the company has achieved a well-known position on several key technologies.
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CMF Venture Capital
VC Fund · 1 investments in China Infrastructure startups

CMF Venture Capital was added in 2013.

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Investment focus

  • Industry: Hardware, Electronics, Manufacturing
  • Stage:Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Semiconductor Manufacturing International — Semiconductor Manufacturing International Corporation (SMIC) is a semiconductor foundry providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. SMIC develops one-stop turnkey services to meet its customers’ needs. In addition to IC manufacturing, SMIC offers a full range of services that includes designservices, mask manufacturing, and testing. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai, a 300mm mega-fab in Beijing, a 200mm fab in Tianjin, and a 200mm fab project under development in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong.SMIC competes with Taiwan Semiconductor Manufacturing Company, Ltd., United Microelectronics Corporation, GlobalFoundries, Fujitsu Limited, Samsung Electronics Co., Ltd., and Toshiba Corporation.
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Deutsche China Capital
VC Fund · George Town, Midland, Cayman Islands · 1 investments in China Infrastructure startups

Deutsche China Capital was added in 2013.

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Investment focus

  • Industry: Hardware, Electronics, Manufacturing
  • Stage:Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Semiconductor Manufacturing International — Semiconductor Manufacturing International Corporation (SMIC) is a semiconductor foundry providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. SMIC develops one-stop turnkey services to meet its customers’ needs. In addition to IC manufacturing, SMIC offers a full range of services that includes designservices, mask manufacturing, and testing. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai, a 300mm mega-fab in Beijing, a 200mm fab in Tianjin, and a 200mm fab project under development in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong.SMIC competes with Taiwan Semiconductor Manufacturing Company, Ltd., United Microelectronics Corporation, GlobalFoundries, Fujitsu Limited, Samsung Electronics Co., Ltd., and Toshiba Corporation.
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Access 48,091 investors

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

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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Infrastructure 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: 601
  • Round size: Series A $1.5M–$128M; Series B $13M–$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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Xinxing Fund
VC Fund · 1 investments in China Infrastructure startups

Xinxing Fund is an investment firm.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series B, Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 4
  • Round size: Series B $15M–$32M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • PackGene Biotech — PackGene Biotech is a world-leading CRO and CDMO, excelling in AAV vectors, mRNA, plasmid DNA, and lentiviral vector solutions.
  • Hikvision Zhilian — Hikvision Zhilian focus on next generation of traffic information infrastructure serving future autonomous driving and intelligent transportation, and provides vehicles for governments and operating units. Road coordination intelligent transportation products, technologies, overall solutions and information services.
  • Reforgene Medicine — Reforgene Medicine is a biomedical company that uses gene editing and genomic technology to develop new drugs intended to cure genetic diseases.
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Qianshan Capital
VC Fund · Chaoyang, Liaoning, China · 1 investments in China Infrastructure startups

Qianshan Capital is a private equity investment platform that focuses on China's leading private equity investment institutions, focusing on new industries such as smart industry, pan-entertainment, financial technology, smart logistics, and consumer upgrades.

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Investment focus

  • Industry: Robotics, Software, Child Care
  • Stage:Angel, Series A, Series C
  • Geography: China, United States

Investor stats

  • Total investments: 10
  • Round size: Angel $458k–$463k; Series A $1.5M–$1.5M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Epintek — Epintek is a one-stop service platform for medical equipment.
  • 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.
  • Kunlun Core — Kunlun Chip is a chip business company under Baidu.
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Huasuanbang Group
VC Fund · 1 investments in China Infrastructure startups

Huasuanbang Group is an investment company.

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Investment focus

  • Industry: Construction, Infrastructure
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Huazhen Technology — Huazhen Technology specialized in the development of a new digital infrastructure for industrial parks. It provides a full-process digital closed-loop solution for industrial park operation and management, including recruitment, management, control, and construction, and assists property management companies, owners, developers, and relevantgovernment departments in improving park operating efficiency and attracting regional investment.
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Yuhang Transportation Investment Group
VC Fund · Hangzhou, Zhejiang, China · 1 investments in China Infrastructure startups

Yuhang Transportation Investment Group is an investment company that focus on transportation infrastructure companies.

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Investment focus

  • Industry: Infrastructure, Transportation, Autonomous Vehicles
  • Stage:Series A
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hikvision Zhilian — Hikvision Zhilian focus on next generation of traffic information infrastructure serving future autonomous driving and intelligent transportation, and provides vehicles for governments and operating units. Road coordination intelligent transportation products, technologies, overall solutions and information services.
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Alibaba Cloud
VC Fund · Hangzhou, Zhejiang, China · 1 investments in China Infrastructure startups

Alibaba Cloud offers a integrated suite of cloud products and services that are reliable and secure, to help you build cloud infrastructure, data centers in multi regions empower your global business. Try for Free.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: China, Australia, Saudi Arabia

Investor stats

  • Total investments: 18
  • Round size: Seed $2M–$6M; Series A $1.4M–$140M; Series B $14M–$100M
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Yipuji — Yipuji provides modular data center infrastructure products and integrated engineering services that support the planning, design, prefabrication, and deployment of scalable data center facilities. The company’s portfolio includes prefabricated (modular) data center solutions such as all-in-one systems, flatpack edge modules, liquid-cooling modulestailored for high-performance computing, and functional modular components that help streamline construction workflows. It combines research, development, manufacturing, and technical service capabilities to deliver standardized yet customizable modules that aim to shorten build cycles and support technical teams in meeting project specifications. Yipuji also engages in product innovation and collaborates with technology partners to develop solutions for emerging needs like AI data centers and energy-efficient thermal management. The business integrates prefabrication with on-site delivery coordination, technical support resources, and engineering services to assist customers from design through implementation. Its activities include engineering research, ongoing technical support, and collaborations with academic and industry organizations to advance modular data center technologies.
  • X Square — X Square is a company focused on developing universal embodied large models for robots, aiming to create a universal brain-cerebellum system that offers comprehensive capabilities from perception to action.
  • Beilian Zhuguan — Beilian Zhuguan offers ToB technology services to users in order to help them reduce IT resource expenses through technical techniques.
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Aerospace Development Industry Investment Group
VC Fund · 1 investments in China Infrastructure startups

Aerospace Development Industry Investment Group is a state-owned investment management company specializing in the aerospace sector.

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Investment focus

  • Industry: Aerospace, Infrastructure, Information Services
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Beijing Aerospace Network Technology — Beijing Aerospace Network Technology is at the forefront of innovation, dedicated to developing and building the next-generation aerospace information infrastructure. The company focuses on integrating advanced communication technologies, data systems, and intelligent networking solutions to support the evolving needs of the aerospace industry.
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Tongxinyuan Group
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in China Infrastructure startups

Tongxinyuan Group is a large service organization that specializes in international asset allocation advice.

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Investment focus

  • Industry: Semiconductor, Infrastructure, Application Specific Integrated Circuit (ASIC)
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Numcore — Shuxin Micro provides digital economy infrastructure services. Shuxin Micro collaborated with the national CA certification center to create the infrastructure product "digital chip + digital management system" for the building of the digital economy throughout the industry.
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Source Code Capital
VC Fund · Chaoyang, Liaoning, China · 1 investments in China Infrastructure startups, 25 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 324
  • Round size: Series A $2.3M–$50M; Series B $14M–$130M; Series C $30M–$200M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $580M in 2021

Portfolio highlights

  • Meshy AI — The #1 3D GenAI platform—trusted by millions worldwide. The ONLY 3D AI tool featured in A16Z's 2024 AI Tools Survey.
  • Critical Aerospace — Critical Aerospace is a technology company that develops and manufactures AI-driven liquid rocket engines for commercial launch vehicles and aerospace propulsion systems.
  • Yongquan Innovation — Yongquan Innovation is a technological firm that specializes in sophisticated desktop CNC machinery.
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SIIC Investment
VC Fund · Shanghai, Shanghai, China · 1 investments in China Infrastructure startups

Having gained approval from the Ministry of Commerce of People’s Republic of China, SIIC Investment (Shanghai) Company Limited (“SIICINV”) was established in 1994 with registered capital of USD 44 million. It is the subsidiary company under Shanghai Industrial Investment (Holdings) Company Limited (“SIIC Group”), with its main focus on investmentin sectors including resources, environmental protection and modern services,etc.As a specialized investment arm of SIIC, SIICINV has had the privilege of being a value creation investment platform provider to ensure our customers to gain access to both domestic and international capital markets. SIICINV’s expansive resources, experiences and networks, offer our entrepreneurs the opportunity to develop their visions into market-leading companies.

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Investment focus

  • Industry: Hardware, Electronics, Manufacturing
  • Stage:Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Semiconductor Manufacturing International — Semiconductor Manufacturing International Corporation (SMIC) is a semiconductor foundry providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. SMIC develops one-stop turnkey services to meet its customers’ needs. In addition to IC manufacturing, SMIC offers a full range of services that includes designservices, mask manufacturing, and testing. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai, a 300mm mega-fab in Beijing, a 200mm fab in Tianjin, and a 200mm fab project under development in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong.SMIC competes with Taiwan Semiconductor Manufacturing Company, Ltd., United Microelectronics Corporation, GlobalFoundries, Fujitsu Limited, Samsung Electronics Co., Ltd., and Toshiba Corporation.
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China Structural Reform Fund
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure startups

China Structural Reform Fund aims to provide state-owned enterprises support in development, industrial consolidation, professional reorganization, capacity adjustment and international mergers and acquisitions by establishing sub-fund as well as direct investment.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Biotechnology
  • Stage:Series A, Series B, Series C
  • Geography: China, Israel, Hong Kong

Investor stats

  • Total investments: 49
  • Round size: Series A $6.8M–$2.5B; Series B $43M–$297M; Series C $14M–$310M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • SIRUI — SIRUI is an intelligent technology company oriented to key core technologies such as "semiconductor equipment" and "new display".
  • AgicMicro — AgicMicro is a semiconductor and core chip solutions provider focusing on smart terminals and the cloud gaming sector. The company specializes in proprietary, high-efficiency AIoT technologies and cloud-based high-definition streaming media acceleration systems.
  • Guorui Xinwei — Guorui Xinwei is an independent industrial software and intelligent manufacturing solutions provider.
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Hua Di Investment
VC Fund · Guangzhou, Guangdong, China · 1 investments in China Infrastructure startups

Hua Di Investment focuses on private equity fund issuance, industrial investment mergers and acquisitions and wealth management.

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Investment focus

  • Industry: Manufacturing, Hardware, Wireless
  • Stage:Post-IPO Equity, Series A
  • Geography: China

Investor stats

  • Total investments: 3
  • Round size: Post-IPO Equity $1.5M–$7.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • AI-LINK — AILINK is committed to being a pioneer and leader in mobile network and edge computing infrastructure in the AI era. The company currently focuses on intelligent manufacturing and other digital transformation scenarios. Its products are built on OICT (Operational and Information Communications Technology) integration, with a focus on industrial environments. AILINK offers end-to-end, scenario-driven 5G-to-B products and solutions, providing seamless industrial adaptation, enhanced smart operations, and simplified management. This enables plug-and-play deployment of private 5G network, accelerating the growth of new productivity models.
  • JCG — JCG is a manufacturer and operator of internet and communication equipment and a manufacturer of networking products. It offers Internet of Things (OT) systems, products, and services based on network communication, and has been dedicated to the integration of research, manufacturing, selling, production operation, and service of intelligentwireless communications devices.
  • Taichuan — Zhuhai Taichuan Cloud Community Technology is a leading intelligent manufacturer specializing in space intelligent Internet of Things. Its core focus is on the interconnected ecosystem, with IOT as the foundation, and it continually develops a complete system around customer service. Zhuhai Taichuan Cloud Community Technology provides one-stopsmart IoT services and solutions for the digital transformation of cities, communities, and homes, meeting the diverse needs of customers for various functions and services such as access control unlocking, security alarms, and smart home control.The company offers a range of empowering products that cover Internet smart access control, security video intercom, whole house a smart home, and smart community cloud platform. The main business of the company covers all provinces and cities in China, as well as over a dozen countries worldwide. Zhuhai Taichuan Cloud Community Technology adopts a "platform + product + operation" approach to the smart community model, which has led to the rapid development of the industry.
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Shenzhen Angel FOF
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Infrastructure startups, 8 in the past 12 months

Shenzhen Angel FOF is a strategic and policy fund initiated by the Shenzhen Municipal People's Government. It is the first-class benchmark for Shenzhen to complement the short-term venture capital investment and help the seed period. Major policy initiatives for start-up companies. The Angel Fund is funded by the Shenzhen Guiding Fund.

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Investment focus

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

Investor stats

  • Total investments: 18
  • Round size: Seed $1.4M–$1.4M; Series A $14M–$29M; Series B $13M–$28M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Xspark AI — Xspark AI operates a physical intelligence model centered on developing trusted embodied artificial intelligence and robotics technologies. The company provides a core physical intelligence system built on an architecture that integrates multispectral tactile sensing with data infrastructure. This modular solution integrates into existing robothardware or deploys independently to deliver reliable execution and safe decision-making across dynamic operational environments. By combining task understanding, generative training data, and a systematic evaluation platform, the entity bridges the functional gap between digital models and physical deployment.
  • Immunofoco — Immunofoco is a biotechnology company that specializes in immune cell drugs for solid tumors patients.
  • Hengxuan Robotics — Hengxuan Robotics is a high-tech enterprise specializing in the research and development of advanced robot joints, focusing on innovative design, precision engineering, and reliable performance to support next-generation robotic systems.
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Shunding Wulian
VC Fund · 1 investments in China Infrastructure startups

Shunding Wulian is an investment firm.

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Investment focus

  • Industry: Construction, Infrastructure
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Huazhen Technology — Huazhen Technology specialized in the development of a new digital infrastructure for industrial parks. It provides a full-process digital closed-loop solution for industrial park operation and management, including recruitment, management, control, and construction, and assists property management companies, owners, developers, and relevantgovernment departments in improving park operating efficiency and attracting regional investment.
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Huajia Investment
VC Fund · 1 investments in China Infrastructure startups

Huajia Investment is an investment firm.

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Investment focus

  • Industry: Construction, Infrastructure
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Huazhen Technology — Huazhen Technology specialized in the development of a new digital infrastructure for industrial parks. It provides a full-process digital closed-loop solution for industrial park operation and management, including recruitment, management, control, and construction, and assists property management companies, owners, developers, and relevantgovernment departments in improving park operating efficiency and attracting regional investment.
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Tsinghua Capital
VC Fund · Haidian, Beijing, China · 1 investments in China Infrastructure 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 $432k–$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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Tencent
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Infrastructure 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: 848
  • Round size: Series A $3M–$200M; 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.
  • VIPKID — VIPKid is a global education technology company that connects children with the world’s best teachers for real-time online English immersion learning.VIPKid’s mission is to inspire and empower every child for the future. VIPKid envisions a global classroom that empowers students and teachers through personalized learning, connection of culturesacross the world and the passion for lifelong learning. It believes that education is not one-size-fits-all, rather, all students are unique and the world is within their reach when connected with great teachers capable of personalizing learning and sparking curiosity.Founded in 2013 and formally launched in 2014, VIPKid has become China’s market-leading online education startup, attracting investment from Tencent, Coatue Management, Sequoia Capital, Sinovation Ventures, Yunfeng Capital, Matrix Partners, Learn Capital, Northern Light VC and Bryant Stibel, among others. The VIPKid platform currently connects over 500,000 paying students with over 60,000 teachers in the US and Canada.
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Hongsheng Capital
VC Fund · 1 investments in China Infrastructure startups

Hongsheng Capital focuses on equity investment in the healthcare industry.

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Investment focus

  • Industry: Health Care, Medical, Hospital
  • Stage:Angel, Series A, Seed
  • Geography: China

Investor stats

  • Total investments: 7
  • Lead/follow: 71% lead, 29% follow

Portfolio highlights

  • Fuxing Jiaer — Fuxing Jiaer is committed to building an evidence-based pediatric nutritional intervention system.
  • Noah Source Medical — Noah Source Medical is a cutting-edge technological business that specializes in producing high-end full-spectrum flow cytometers through independent research and development.
  • Yili Pharmaceutical — Yili Pharmaceutical is a pharmaceutical R&D company that mainly engages in biochemical product technology R&D, medical research and experimental development, engineering and technology research and experimental development, and software development.
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Zhipu AI
VC Fund · Haidian, Beijing, China · 1 investments in China Infrastructure startups

Zhipu AI develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, andAutoGLM, a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Zhipu AI supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.

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Investment focus

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

Investor stats

  • Total investments: 17
  • Round size: Seed $1.5M–$100M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Zhizai Wujie — Zhizai Wujie is a robotics company that specializes in research, development, and application of humanoid robots.
  • Amio Robotics — Amio Robotics focus on developing robot applications in commercial scenarios.
  • PowerEasy Technology — Dynamic Technology is a software developer specializing in artificial intelligence, focusing on the research and development of intelligent robots and the sales of industrial robots.
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Dongfeng Asset Management
VC Fund · Wuhan, Hubei, China · 1 investments in China Infrastructure startups

Dongfeng Asset Management is an asset management and investment firm.

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Investment focus

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

Investor stats

  • Total investments: 18
  • Round size: Series A $29M–$525M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • AGILINK — AGILINK is a high-tech enterprise specializing in the research and development of intelligent robots, committed to combining advanced technologies such as artificial intelligence, automation, and intelligent control systems to deliver innovative robotic solutions for industrial, commercial, and service applications.
  • 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.
  • Yupan Technology — Yupan Technology specializes in the core control technology of car intelligent chassis, offering secure chassis execution systems and global stable intelligent control solutions.
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China Growth Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure startups

China Growth Capital (CGC) is a leading early-stage venture capital firm in China with an extended interest in Silicon Valley. The firm funds seed to Series B in enterprise, technology and marketplace. The typical investment size ranges from $1M to 5M with a hard cap ceiling at $15M per company. Since its founding in 2006, China Growth Capitalhas grown to manage 8 Billion RMB (approximately 1.2 Billion USD) in asset under management across its different RMB and USD funds. Notable portfolio includes SMZDM (300785.SZ), Missfresh (NASDAQ:MF), Wish (NASDAQ:WISH), Tongdun, Tiger Brokers (NASDAQ: TIGR), BeyondHost (now part of Meituan 03690.HK), Ezbuy (NASDAQ:LITB), Cai Cloud (now part of ByteDance), PingCAP, DeePhi (now part of NASDAQ: XLNX), Airlango (now part of HKEX:03690), Nreal, Landspace, WeRide, Plus.ai, Sinovation, Singleron, 4B, ABM Therapeutics and InxMed etc.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 184
  • Round size: Seed $1M–$14M; Series A $1.5M–$34M; Series B $8.6M–$48M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Pavepal — Paitner is an intelligent construction robot developer focuses on construction robot research and is dedicated to offering Chinese robot solutions for the world's dangerous, dirty, and labor-scarce construction industry.
  • Juewu Technology — Juewu Technology focuses on heavy-duty all-terrain robotics.
  • Gongda Laser — Shenzhen Gongda Laser Co., Ltd. is a young high-tech intelligent manufacturing company established in Taoyuan Science and Technology Innovation Park, Bao'an District, Shenzhen. The company's main business is concentrated in the upper reaches of the laser industrial intelligent equipment manufacturing industry. Engaged in the research anddevelopment, production and sales of "advanced short-wavelength fiber lasers" and "laser precision processing solutions". We are a laser company specializing in the R&D, production and application of medium and high power short wavelength (green and ultraviolet) all-fiber lasers. We have 16 years of experience in fiber laser R&D and application. We have developed many types of high-power fiber lasers. Local and international laser equipment manufacturers provide laser solutions with superior performance, and are committed to becoming an international first-line and domestic leading fiber laser supplier.
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Vertex Ventures Israel
VC Fund · Tel Aviv, Tel Aviv, Israel · 1 investments in China Infrastructure startups

We partner early with global-minded entrepreneurs seeking to disrupt large markets

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Investment focus

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

Investor stats

  • Total investments: 189
  • Round size: Series A $3.5M–$28M; Series B $5M–$35M; Series C $5.6M–$100M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: Likely still investing — raised $170M in 2022

Portfolio highlights

  • Rylo — Nagish captions your phone calls and empowers you to talk using text or voice. It's fast, private, and free.
  • Aternity — Unlocking the full potential of your digital experiences has never been more accessible. Illuminate, accelerate and fully leverage the full breadth of possibilities with Riverbed.
  • Quantum Art — Quantum Art develops scalable, multi-core quantum computers with advanced trapped ion qubits and multi-qubit gates, accelerating breakthroughs in AI, finance, and materials science.
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H&Q Asia Pacific
VC Fund · Palo Alto, California, United States · 1 investments in China Infrastructure startups

H&Q Asia Pacific (H&QAP) is a leading Asian private equity firm. Originally founded by Dr. Ta-lin Hsu as a division of U.S. investment banking firm Hambrecht & Quist, H&QAP is currently an independent organization that conducts both later-stage control investments and earlier-stage venture capital investments. It focuses on growthsectors including technology, technology manufacturing, consumer brands and financial services. The firm's offices are located in the principal markets of Asia as well as in the Silicon Valley, providing it with a unique combination of local market presence and global perspective. H&QAP is dedicated to identifying superior commercial potential in Asia and working closely with companies to unlock that untapped potential. Throughout its rich history, H&QAP has developed an extensive network specifically geared towards helping its portfolio companies emerge into global business leaders.

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Investment focus

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

Investor stats

  • Total investments: 42
  • Round size: Series A $5.3M–$31M; Series B $7.5M–$50M; Series C $7.9M–$630M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Ceres — Ceres applies genetic research and trait development to improve crop productivity, enhance quality characteristics, and support cultivation under varied environmental conditions. Its technology portfolio includes DNA-based trait solutions designed for integration across multiple crop types and end markets. Ceres also provides bioinformaticscapabilities through its Persephone software, which enables structured exploration and analysis of genomic data.
  • FST NETWORK — Data Preparation Made Easy FST Network helps Associate, Curate & Oversee Data Process within Data Pipelines with Full Lineage & Audibility with a seamless integrated low code platform.
  • Formosa Pharmaceuticals — Formosa Pharmaceuticals is a biopharmaceutical firm that specializes in ophthalmology and oncology.
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Huanxu Real Estate
VC Fund · 1 investments in China Infrastructure startups

Huanxu Real Estate is an investment firm.

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Investment focus

  • Industry: Construction, Infrastructure
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Huazhen Technology — Huazhen Technology specialized in the development of a new digital infrastructure for industrial parks. It provides a full-process digital closed-loop solution for industrial park operation and management, including recruitment, management, control, and construction, and assists property management companies, owners, developers, and relevantgovernment departments in improving park operating efficiency and attracting regional investment.
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Sino-Singapore Capital
VC Fund · Dongcheng, Shaanxi, China · 1 investments in China Infrastructure startups

Sino-Singapore Capital is a private equity firm.

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Investment focus

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

Investor stats

  • Total investments: 21
  • Round size: Seed $1.6M–$15M; Series A $21M–$30M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • UniX AI — UniX AI possesses advanced research and development capabilities in the domain of embodied intelligent robotics. The team comprises specialists from various disciplines, including structural engineering, electronics, algorithms, and deep learning. This technology company focuses on enhancing the robot's ability to generalize in intricatescenarios.
  • Tiejin Technology — Tiejin Technology is a humanoid robotics company that provides research and development related to micro and ultra-micro bearings.
  • Bennett Optical Technology — Bennet Optical Technology is a high-technology company that designs, manufactures, and supports liquid crystal on silicon (LCoS) optical products and systems.
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Intel Capital
VC Fund · Santa Clara, California, United States · 1 investments in China Infrastructure startups

Intel Capital invests in innovative startups targeting cloud and AI infrastructure, edge, 5G, autonomy, cybersecurity, client & gaming, enterprise applications, silicon design and manufacturing, and a wide range of other disruptive technologies.

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Investment focus

  • Industry: Software, Information Technology, Enterprise Software
  • Stage:Series B, Series A, Series C
  • Geography: United States, Israel, China

Investor stats

  • Total investments: 1114
  • Round size: Series A $4.6M–$30M; Series B $7.7M–$53M; Series C $7M–$90M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Punchbowl — We make it easy to send beautiful free online invitations and ecards on-the-go. Our exclusive 'Characters Kids Love' collection includes hundreds of invites starring iconic, beloved characters. Customize an invitation for a birthday party, baby shower, or holiday celebration, and deliver instantly by text message or email.
  • SecureKey Technologies — Deliver high-value online services securely to millions of consumers through federated authentication, regardless of the service, device or credentials.
  • Mformation Technologies — Mformation Technologies, Inc. provides mobile device management software that is used by the mobile operators and service providers. It offers MFORMATION SERVICE MANAGER Suite, which is an integrated mobile device management software solution. The MFORMATION SERVICE MANAGER provides solutions for open mobile alliance DM-based provisioning andconfiguration; firmware over the air management; smart phone application management; diagnostics and repair for mobile devices; security management for mobile devices and data; enterprise device management; and customer experience management with voice and data services. The company was founded in 1999 and is headquartered in Edison, New Jersey with additional offices in Windsor, the United Kingdom; Bangalore, India; Beijing, the People’s Republic of China; Tokyo, Japan; Belfast, Northern Ireland; and Kuala Lumpur, Malaysia.
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Puhua Capital
VC Fund · Hangzhou, Zhejiang, China · 1 investments in China Infrastructure startups

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

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Investment focus

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

Investor stats

  • Total investments: 272
  • Round size: Seed $2.3M–$29M; Series A $1.5M–$42M; Series B $3M–$103M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Nuoyun Drive —
  • Ganzhicao Technology — Gancao Doctor is an internet-based Traditional Chinese Medicine (TCM) company that helps clinics modernize their digital management and optimize operations. By using AI-assisted features, it enhances doctors' diagnostic and treatment abilities, delivering valuable benefits to doctors, patients, and clinics.
  • Interstellar Lightyear — Interstellar Lightyear Technology is a developer specializing in dexterous robotic hands, focusing on creating intelligent dexterous hands with advanced capabilities for precise manipulation.
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Sumitomo Corporation Equity Asia
VC Fund · Central, Hong Kong Island, Hong Kong · 1 investments in China Infrastructure startups

Welcome to the official website of Sumitomo Corporation, a leading integrated trading company engaged in diverse businesses based on its global network.

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Investment focus

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

Investor stats

  • Total investments: 20
  • Round size: Series A $1.4M–$21M; Series B $5M–$47M; Series C $25M–$70M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • AIsa — Powering AI Agents with one integration for premium APIs, data, compute, and payments. Backed by @AlibabaGroup @drapervc @Tribecap
  • Naluri Life — Naluri provides behaviour science, psychology, digital health, data science, wellness, diet, exercise, fitness, digital behaviour change, multidisciplinary care, cancer, diabetes, heart disease, anxiety, depression, chronic stress, and pain
  • Prime Lifescience — Prime Lifescience is a developer of a big data platform that focuses on life sciences. The company is dedicated to establishing a health lifecycle big data collaboration network through digital technology innovation and extensive use of artificial intelligence. They offer a digital smart health community, a digital intelligent clinical researchaccelerator, and a live big data platform as part of their offering.
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CRRC
VC Fund · Haidian, Beijing, China · 1 investments in China Infrastructure startups

CRRC Corporation Limited (China Railway Rolling Stock Corporation) is a Chinese state-owned rolling stock manufacturer. It was formed on 1 June 2015 with the merger of China CNR Corporation and CSR Corporation Limited. CRRC has its headquarters in Beijing.

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Investment focus

  • Industry: Manufacturing, Semiconductor, Automotive
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: China

Investor stats

  • Total investments: 31
  • Round size: Series A $1.5M–$360M; Series B $29M–$141M; Venture - Series Unknown $42M–$59M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Kunlunyuan — Kunlunyuan offers full-stack technology services for AI big models. It is involved in the research and development of technologies such as native fundamental big models, multimodal big models, AI operating systems.
  • Garen Semiconductor — Garen Semiconductor focuses on the R&D, production and sales of semiconductor materials (such as gallium oxide).
  • Zhongke Guosheng — Zhongke Guosheng focuses on the research and development and manufacturing of light gas turbines.
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Puxin Capital
VC Fund · Shanghai, Shanghai, China · 1 investments in China Infrastructure startups

Puxin Capital is an investment firm that targets Chinese private equity opportunities. It invests within the Chinese market in a diversified range of industries, including biotechnology, business services, construction, electronics, entertainment, financial services, food, information services, manufacturing, materials, mining, retail, software,technology, and transportation.

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Investment focus

  • Industry: Pharmaceutical, Information Technology, Sensor
  • Stage:Series B, Series A, Series C
  • Geography: China, Switzerland, United States

Investor stats

  • Total investments: 10
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • PaXini Tech — All Scenario Application—Haptic Digitization and Tactile Technology
  • Tage Zhixing — Beijing Tage Zhixing Technology Co., Ltd. is a high-tech enterprise focusing on mining vehicle unmanned driving technology research, product development, and overall engineering solution design and implementation of unmanned mines. Tage Zhixing has launched a car-ground-cloud collaborative smart mine unmanned transportation system, which realizescloud intelligent dispatching management, 4G.
  • Anda Biopharma — Anda Biopharma integrates high-end talents and technologies in tumor genomics, immunology, and vaccinology research, and is committed to developing new personalized therapeutic vaccines for tumors
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Goldman Sachs
VC Fund · New York, New York, United States · 1 investments in China Infrastructure startups

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base.

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Investment focus

  • Industry: Software, Financial Services, FinTech
  • Stage:Series C, Series B
  • Geography: United States, India, China

Investor stats

  • Total investments: 936
  • Round size: Series B $13M–$139M; Series C $20M–$136M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely actively investing — fresh fund, raised $43M in 2026

Portfolio highlights

  • Judi Health — Capital Rx is a health technology company that engages in managing pharmacy benefit plans. The company is redefining the way prescriptions are priced and administered in the U.S. Through its Clearinghouse Model, it unlocks the pharmacy supply chain and reduces prescription costs for employer groups. By establishing a competitive marketplace fordrug pricing, Capital Rx focuses its resources on deploying actionable strategies that improve plan performance and patient outcomes.
  • Imaging Advantage — Imaging Advantage is the leading provider of evidence-based, end-to-end technology enhanced radiology solutions to hospitals across the country. IA’s footprint includes major healthcare systems in Arizona, California, Illinois, Michigan, Ohio, Oregon and Texas, as well as other major metropolitan areas across the U.S.
  • Riverbed Technology — Unlocking the full potential of your digital experiences has never been more accessible. Illuminate, accelerate and fully leverage the full breadth of possibilities with Riverbed.
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Z.ai
VC Fund · Haidian, Beijing, China · 1 investments in China Infrastructure startups

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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Investment focus

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

Investor stats

  • Total investments: 18
  • Round size: Seed $1.5M–$14M; Angel $14M–$23M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fresh fund, raised $209M in 2024

Portfolio highlights

  • Yuxun Networks — Yuxun Networks focuses on providing comprehensive full lifecycle solutions for intelligent computing networks, offering technologies and services that support network planning, deployment, management, optimization, and maintenance to enable efficient, secure, and scalable AI computing infrastructure.
  • Force Inspiration — Force Inspiration is a start-up focusing on embodied intelligence technology. The company mainly engages in technology development, technical consulting, software development, basic artificial intelligence software development, information system integration services, intelligent robot research and development and sales, and industrial robotmanufacturing and sales.
  • Haizhi Wangju Internet Technology — BDP (Business Data Platform) by a sea of production. Sea of ​​co-founded by former Baidu founding team members and executives, core team members from Baidu, Microsoft, IBM, EMC, Silicon Valley veteran Internet and IT experts, has received a number of top venture capital co-investment fund.
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Vertex Ventures
VC Fund · Palo Alto, California, United States · 1 investments in China Infrastructure startups

Vertex Ventures US is an early stage VC that backs fearless founders building a smarter digital economy through B2B software.

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Investment focus

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

Investor stats

  • Total investments: 476
  • Round size: Series A $3M–$40M; Series B $6.2M–$48M; Series C $10M–$100M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $64M in 2024

Portfolio highlights

  • Zenity — Zenity empowers enterprises to enable AI Agents securely. Our platform ensures adaptive security and governance from buildtime to runtime.
  • Aternity — Unlocking the full potential of your digital experiences has never been more accessible. Illuminate, accelerate and fully leverage the full breadth of possibilities with Riverbed.
  • WABO Technology — WABO TECH develops task-conditioned neural intent models and the HAID platform, turning human choices, confirmations, corrections, and control signals into machine-readable input.
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360
VC Fund · 1 investments in China Infrastructure startups

360 operates as an investment firm.

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Investment focus

  • Industry: Software, Infrastructure, Artificial Intelligence
  • Stage:Seed
  • Geography: China

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 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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AsiaInfo
VC Fund · Beijing, Beijing, China · 1 investments in China Infrastructure startups

AsiaInfo is an innovative provider of software and IT services to the telecommunications industry.

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Investment focus

  • Industry: Internet, Training, Education
  • Stage:Seed, Angel
  • Geography: China

Investor stats

  • Total investments: 3
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • AI-LINK — AILINK is committed to being a pioneer and leader in mobile network and edge computing infrastructure in the AI era. The company currently focuses on intelligent manufacturing and other digital transformation scenarios. Its products are built on OICT (Operational and Information Communications Technology) integration, with a focus on industrial environments. AILINK offers end-to-end, scenario-driven 5G-to-B products and solutions, providing seamless industrial adaptation, enhanced smart operations, and simplified management. This enables plug-and-play deployment of private 5G network, accelerating the growth of new productivity models.
  • 101test.com — 101test.com is a one-stop online examination platform for enterprises, schools, training and certification institutions.
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Infrastructure VC funding in China at a glance

Stats across 60 deals from 144 investors.

144
investors
in China Infrastructure startups
60
deals
in China Infrastructure startups
$21M
median round
in China Infrastructure startups
26%
lead investors
lead at least one round
20%
Series B
most common funding stage

Access all 144 VC funds in China Infrastructure startups.

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