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

The most active venture capital funds investing in China Internet startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Internet startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
IDG Capital
VC Fund
42 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $3M–$200M
HSG
VC Fund
38 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $4.4M–$214M
ZhenFund
VC Fund
27 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Software, E-Commerce $425k–$28M
Matrix Partners China
VC Fund
26 China, United States, Singapore Series A, Series B, Seed Health Care, Biotechnology, Software $1.6M–$113M
Shunwei Capital
VC Fund
26 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.4M–$100M
Meridian Capital Asia
VC Fund
23 China, Latvia, Hong Kong Series A, Angel, Series B Internet, Software, E-Commerce $425k–$28M
Qingsong Fund
VC Fund
22 China, United States, Canada Series A, Angel, Seed Manufacturing, Internet, Education $142k–$28M
Qiming Venture Partners
VC Fund
22 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $5M–$134M
Plum Ventures
VC Fund
22 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $425k–$16M
Decent Capital
VC Fund
21 China, United States, Singapore Angel, Seed, Series A Internet, Information Technology, Software $425k–$25M
Lenovo Capital and Incubator Group (LCIG)
VC Fund
20 China, Hong Kong, United States Series A, Seed, Series B Manufacturing, Artificial Intelligence, Software $1.5M–$150M
Fortune Venture Capital
VC Fund
18 China, Japan, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $425k–$73M
Gaorong Capital
VC Fund
17 China, United States, Hong Kong Series A, Series B, Seed Information Technology, Software, Artificial Intelligence $2.8M–$120M
Source Code Capital
VC Fund
17 China, United States, Singapore Series B, Series A, Series C Software, Artificial Intelligence, E-Commerce $2M–$200M
PreAngel
VC Fund
16 China, United States, Switzerland Angel, Seed, Series A Internet, Software, Blockchain
Sinovation Ventures
VC Fund
16 China, United States, Singapore Series A, Seed, Series B Software, Artificial Intelligence, Internet $1M–$110M
Innoangel Fund
VC Fund
15 China, United States, Canada Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$20M
BAI capital
VC Fund
15 China, United States, Hong Kong Series A, Series B, Seed Software, Internet, Financial Services $3M–$100M
Oriental Fortune Capital
VC Fund
15 China, United States Series A, Series B, Seed Software, Manufacturing, Information Technology $1.4M–$100M
Legend Capital
VC Fund
14 China, United States, South Korea Series B, Series A, Series C Health Care, Medical, Biotechnology $2.9M–$156M
Frees Fund
VC Fund
14 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
N5Capital
VC Fund
14 China, United States, India Series A, Seed, Series B E-Commerce, Internet, Gaming $142k–$30M
GGV Capital
VC Fund
14 United States, China, Singapore Series B, Series A, Series C Software, Information Technology, Artificial Intelligence $5M–$150M
CBC Capital
VC Fund
14 China, United States Series B, Series A, Series C Software, Internet, Information Technology $1.4M–$100M
Vertex Ventures China
VC Fund
14 China, United States, Singapore Series A, Series B, Seed Manufacturing, Artificial Intelligence, Health Care $2M–$85M
UnityVC
VC Fund
13 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, E-Commerce, Information Technology $283k–$20M
Yonghua Capital
VC Fund
13 China, United States, Canada Series A, Series B, Seed Manufacturing, Health Care, Education $142k–$100M
CDH Investments
VC Fund
13 China, United States, Canada Series A, Series B, Series C Manufacturing, Biotechnology, Health Care $7.1M–$300M
QF Capital
VC Fund
13 China, Hong Kong, United States Series A, Angel, Seed Artificial Intelligence, E-Commerce, Software $425k–$16M
NewMargin Ventures
VC Fund
13 China, United States, Hong Kong Series A, Angel, Series B Manufacturing, Information Technology, Internet $425k–$200M
Addor Capital
VC Fund
13 China, Hong Kong, Singapore Series A, Series B, Seed Manufacturing, Semiconductor, Electronics $1.4k–$43M
GSR United Capital
VC Fund
13 China, United States, Singapore Series A, Seed, Series B Manufacturing, Robotics, Artificial Intelligence $98k–$50M
Eastern Bell Capital
VC Fund
13 China, Hong Kong, Singapore Series A, Series B, Series C E-Commerce, Manufacturing, Logistics $7.1M–$270M
Yinxinggu Capital
VC Fund
12 China, Singapore Angel, Series A, Series B Manufacturing, Information Technology, Software $425k–$57M
DT Capital Partners
VC Fund
12 China, United States, South Korea Series A, Series B, Series C Health Care, Medical, Biotechnology $1.4M–$92M
Angel Plus China
VC Fund
12 China, United States Angel, Series A, Seed Software, Artificial Intelligence, Health Care $71k–$120M
Linear Venture
VC Fund
12 China, Hong Kong, Singapore Series A, Seed, Angel Artificial Intelligence, Information Technology, Robotics $300k–$60M
Ping An Ventures
VC Fund
12 China, United States, Israel Series A, Series B, Angel Health Care, Biotechnology, Medical $425k–$100M
Hillhouse Investment
VC Fund
12 China, United States, Singapore Series B, Series A, Series C Biotechnology, Health Care, Software $2.9M–$220M
Chuxin Capital
VC Fund
11 China, Hong Kong Angel, Seed, Series A Software, Artificial Intelligence, Information Technology $425k–$40M
Chengwei Capital
VC Fund
11 China, United States, Germany Series A, Series B, Seed Software, Manufacturing, Internet $2.8M–$57M
Cybernaut Venture Capital
VC Fund
11 China, United States, United Kingdom Series A, Angel, Series B Information Technology, Software, Education $425k–$59M
Shenzhen Capital Group
VC Fund
11 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
K2VC
VC Fund
11 China, United States, Japan Series A, Seed, Angel E-Commerce, Manufacturing, Biotechnology $425k–$25M
Future Capital Discovery Fund
VC Fund
11 China, United States, Singapore Seed, Angel, Series A Artificial Intelligence, Software, Robotics $425k–$28M
Glory Ventures
VC Fund
11 China, Israel, United States Series A, Seed, Series B Artificial Intelligence, Software, Manufacturing $3M–$227M
Green Pine Capital Partners
VC Fund
11 China, United States, Canada Series A, Angel, Series B Artificial Intelligence, Biotechnology, Health Care $425k–$150M
Ferry Venture Capital
VC Fund
11 China, United States Seed, Series A, Angel Information Technology, Manufacturing, Software $68k–$4.7M
Northern Light Venture Capital
VC Fund
11 China, United States, South Korea Series A, Series B, Seed Health Care, Medical, Biotechnology $1.3M–$100M
CDF-Capital
VC Fund
11 China, United States Series A, Series B, Seed Manufacturing, Software, Information Technology $206k–$148M
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Investor list

IDG Capital
VC Fund · Beijing, Beijing, China · 42 investments in China Internet 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: 752
  • Round size: Series A $3M–$122M; Series B $8.3M–$141M; Series C $15M–$200M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Polymaker — Polymaker is a high quality 3D printing filament manufacturers. PLA, PETG, ABS, ASA, TPU, Nylon, PC, Carbon Fiber and more. Find the best filament for your application.
  • Youxi Film Hotel — Youxi Film Hotel which is a hotel in China that combines the perfect combination of hotel and movie IP. It is also a movie hotel theme, combining film derivative industry, movie theme social space and film shooting. An integrated creative culture complex; dedicated to creating a Chinese-style movie and hotel cross-border experience hotel, breakingthrough the traditional overnight function of a traditional hotel, creating the ultimate movie experience for young people with a mindset.
  • Liyang Semiconductor — Liyang Semiconductor is a power semiconductor chip developer, integrating design and development, chip manufacturing, packaging and testing
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HSG
VC Fund · Beijing, Beijing, China · 38 investments in China Internet startups, 10 in the past 12 months

We help founders build enduring companies.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • MarqVision — Effortlessly discover and remove counterfeits to protect your sales and reputation.
  • Midas — Midas is the first neobroker of Turkey, providing zero commission Turkish and American stocks.
  • Yunzhou Zhiwei — Yunzhou Zhiwei is a high-tech startup focused on serving large-scale equipment maintenance industries such as aviation, aerospace, shipbuilding, and rail transit. It leverages smart maintenance concepts and advanced digital technologies to make complex equipment maintenance more efficient and lean. The company drives industrial transformationtoward intelligent maintenance, helping enterprises enhance growth, efficiency, and operational excellence.
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ZhenFund
VC Fund · Beijing, Beijing, China · 27 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 374
  • Round size: Seed $650k–$20M; Angel $425k–$21M; Series A $1.4M–$28M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — raised $130M 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.
  • ImageDT — ImageDT is a Enterprise services company.
  • 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.
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 26 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • TT Yuyin — Quwan provides services including instant voice messaging, social gaming, esports, and game distribution. It operates TT Voice, which started as a voice chat application designed for mobile gamers and was later developed into a social gaming platform. It focuses on developing personalized services for the Gen Z audience.
  • Huangbaoche — Huangbaoche is a travel service providing tour packages and booking services. Huangbaoche has over 100,000 Chinese-speaking drivers and tour guides providing airport pick-up services, chartered car services, and guided tours in over 1,500 overseas travel destination cities in 80 countries.
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
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Shunwei Capital
VC Fund · Beijing, Beijing, China · 26 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 449
  • Round size: Series A $1.4M–$43M; Series B $8.2M–$57M; Series C $20M–$100M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • CertiK — CertiK, the largest Web3 security service provider, uses AI and formal verification to protect and monitor smart contracts and protocols, securing the Web3 ecosystem.
  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • Darma — DARMA - Digital Healt
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Meridian Capital Asia
VC Fund · Shanghai, Shanghai, China · 23 investments in China Internet startups

Meridian Capital Asia was founded in Singapore in 2008 and has launched nine funds with a total of over 1.5 billion US dollars raised since. It has invested in more than 280 startups, with many notable exits, and has focused on areas such as deep tech, artificial intelligence, robotics, cloud, SaaS, enterprise, advanced manufacturing, renewableenergy, new material, semiconductors, agri-tech, education, internet, and new media, etc. All its partners are from either Singapore, Australia, the US or UK, with extensive experience and knowhow in all technology sectors. Meridian has offices in Singapore, Silicon Valley, Shanghai and Beijing and its investments cover geographies such as SEA, China, US, Mid-east, Japan, and Europe.

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Investment focus

  • Industry: Internet, Software, E-Commerce
  • Stage:Series A, Angel, Series B
  • Geography: China, Latvia, Hong Kong

Investor stats

  • Total investments: 140
  • Round size: Angel $425k–$14M; Series A $425k–$16M; Series B $1.7M–$28M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Hanhai Energy — Hanhai Energy is dedicated to explore the science and technology to accelerate the commercialization of fusion energy.
  • Keyou Network — Data processing service provider
  • Xiaoneng Technology — Xiaoneng Technology is a company that provides online customer service solutions for e-commerce websites. Committed to providing real-time shopping guide and online customer management system LiveCRM for all online transactions and online display products and services, affiliated to Beijing Nengtong Tianxia Network Technology Co., Ltd.
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Qingsong Fund
VC Fund · Shenzhen, Guangdong, China · 22 investments in China Internet startups

Founded in June 2012 by Liu Xiaosong, Dong Zhanbin, and Su Wei, three Internet and investment circle veterans, Qingsong Fund is an early venture capital firm specializing in investment in education, social networking, consumerism, innovation, technology and applications. It manages four RMB funds with a total value of about RMB 2 billion. So far,it has invested in more than 140 companies, including 1 to 1 head, 1 DaDa English, squirrel AI, onion mathematics, wedding calendar, werewolf killing, flystep technology, HomeFacial. Pro and other star projects - 50% exit project returns more than 60 times, multiple project valuation multiples increased nearly 200 times, and educational projects have an average annual value increase of 500%. Among them, the Qingsong Smart Fund, which was newly established in 2018, focuses on the underlying technologies of the underlying AI and Smart Connect, as well as investment in such areas as smart healthcare, enterprise services and intelligent transportation applications. Liu Xiaosong, founding partner of Qingsong Fund, is a Ph.D. student at Tsinghua University. He invested in Tencent in 1999 and has a return on investment of tens of thousands of times. In 2000, he founded A8 New Media Group, which was successfully listed on the main board in Hong Kong in 2008. In 2015, he hatched in November 2018. Listed in Hong Kong stocks in the year. As a leading early investment institution in China, Qingsong Fund and its founding partners have repeatedly won Top 10 of Zero2IPO China's early investment institutions/investors, Top10 of China's education sector, Top100 of Chinese investors, and China's best early venture capital investment. Institution/Investor Top10; 36氪 China's new entertainment sector investment institutions Top10, online education sector investment institutions/investors Top10 and other mainstream awards.

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Investment focus

  • Industry: Manufacturing, Internet, Education
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 133
  • Round size: Seed $1.4M–$28M; Angel $142k–$1.6M; Series A $1.4M–$17M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2021

Portfolio highlights

  • Apex Laser — Apex Laser is a company that focused on the research and development of semiconductor laser equipment that offers laser processing solutions for materials that are ultra-thin, ultra-hard, brittle, flexible, or composite.
  • Itanium Innovation — Itanium Innovation is a technology company providing integrated integration solutions for distributed edge computing microdata centers.
  • Xinghong Technology — Xinghong Technology focuses on the research, development, and manufacturing of CNC machine tools and core components, with its business spanning mechanical and electrical equipment, precision manufacturing solutions, industrial automation systems, and advanced machinery services for a wide range of industries.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 22 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 803
  • Round size: Series A $5M–$68M; Series B $9.4M–$100M; Series C $14M–$134M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $887M in 2023

Portfolio highlights

  • Wholee — Wholee is a member-only zero-markup store.
  • 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.
  • Twine Health — Fitbit Health Solutions' wellness and health solutions can help keep your population healthy and drive meaningful employee engagement. Learn more.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 22 investments in China Internet startups, 29 in the past 12 months

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Zhicheng AI — Zhicheng AI is a developer of general-purpose artificial intelligence robots, dedicated to designing and building intelligent robotic systems that integrate advanced AI algorithms, perception technologies, and adaptive learning capabilities
  • Nansu Technology — Nansu Technology is a digital medical technology company that focuses on the treatment of pan-brain dysfunction.
  • Delta Intelligence Technology — Delta Intelligence Technology is a next-generation embodied intelligence company focused on integrating advanced artificial intelligence with physical systems to create machines that can perceive, learn, and act in the real world.
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Decent Capital
VC Fund · Shenzhen, Guangdong, China · 21 investments in China Internet startups, 6 in the past 12 months

Decent Capital is a venture capital firm with a cross-border presence. It was founded in 2007 by Jason Zeng, co-founder of Tencent Holdings Limited. Decent Capital has two teams, venture investment and asset management, with offices in Hong Kong, mainland China, Singapore and the United States. Decent’s investment team invests from Seed to SeriesA, primarily focusing on SaaS, Consumer Internet, and Frontier Tech. Decent has invested in over 200 companies globally, spanning across the United States, China, Australia, Canada, United Kingdom, Hong Kong and Singapore. Decent upholds strong dedication to post-investment management, they continue to heavily support their portfolio companies’ business operations, supply chain and logistics, and future fundraising efforts. While Decent’s emphasis is on early-stage investments, they prioritize continuing to support portfolio companies throughout growth, for example, Decent invested in Lime from Seed to Series D.

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Investment focus

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

Investor stats

  • Total investments: 133
  • Round size: Seed $425k–$14M; Angel $425k–$2.3M; Series A $1.4M–$25M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Fuxi Quantum — Fuxi Quantum operates as an industrial research and development quantum application computing platform.The company integrates the workflow of industrial problem modeling, algorithm solving, hardware execution, and result verification into corporate research processes.
  • Qingyu Technology — Qingyu Technology is a software development service company specializing in the research, development, and sales of intelligent robots.
  • LightDimension Unbounded — LightDimension Unbounded is a manufacturer of smart sports consumer devices.
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Lenovo Capital and Incubator Group (LCIG)
VC Fund · Beijing, Beijing, China · 20 investments in China Internet startups

Lenovo Capital and Incubator Group is an accelerator and venture capital firm.

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Investment focus

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

Investor stats

  • Total investments: 265
  • Round size: Seed $1.5M–$42M; Series A $2.8M–$73M; Series B $5.5M–$150M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $500M in 2016

Portfolio highlights

  • Deepin Technology — Deepin Technology is a company that utilizes artificial intelligence, quantum chemistry, and high-throughput experiment technologies to enhance the efficiency and workflow of chemical material innovation. it offers efficient R&D solutions for chemical materials, aiming to solve lab bottlenecks, promote innovative research, and enhance customervalue.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
  • Shenzhen Urban Transport planning Center — Shenzhen Urban Transport planning Center provides traffic information engineering and technical services in China.
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Fortune Venture Capital
VC Fund · Shenzhen, Guangdong, China · 18 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 271
  • Round size: Seed $425k–$73M; Series A $1.4M–$70M; Series B $2.8M–$57M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $780M in 2021

Portfolio highlights

  • Transcenta — Transcenta is a global biotherapeutic company that fully integrates antibody-based biotherapeutics discovery, R&D and manufacture, focusing on developing innovative antibodies to help more patients. HJB and MabSpace Biosciences merged and created Transcenta.
  • Sandstone — SandStone is a product, solution and service provider focused on next-generation data storage (ServerSAN), which is dedicated to helping users cope with data storage, traffic and data management complexity, helping users build storage virtualization and Computation of virtualization as the core cloud computing infrastructure environment, andgradually provide data processing, mining, analysis and intelligence in the field of big data professional systems and services.
  • Xinjie Energy — Xinjie Energy focuses on the research, development, and production of lithium metal solid-state batteries. These batteries aim to offer energy density and improved safety compared to traditional lithium-ion batteries. The company works on advancing battery technology, with potential applications in electric vehicles and energy storage. It isinvolved in advancing solid-state battery technology and expanding its presence in the battery industry.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 17 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 280
  • Round size: Seed $2.8M–$57M; Series A $2.8M–$71M; Series B $14M–$120M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2020

Portfolio highlights

  • GravityXR — GravityXR is an XR chip developer and a terminal equipment manufacturer serving the XR (AR/VR/MR) field, providing chip platforms for virtual reality, augmented reality and mixed reality as well as supporting hardware solutions, including platforms A complete set of technical services including software and technology suites includingapplication interfaces, key component selection, product prototype development support, etc.
  • PDD Holdings — Pinduoduo is an e-commerce platform allowing users to participate in group buying deals, mostly through Tencent’s Wechat app. The company was founded in 2015 and is based in Shanghai, China.
  • XYZ Robotics — XYZ Robotics develops AI-enabled robotic perception and manipulation technology for logistics and manufacturing automation. The company develops autonomous robotic solutions for put wall sorting and goods-to-person picking. Its robot sorts unorganized, random warehouse goods into groups of customer orders. The solution embodies its strength in deeplearning and robotics.
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Source Code Capital
VC Fund · Chaoyang, Liaoning, China · 17 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 262
  • Round size: Series A $2M–$50M; Series B $14M–$120M; Series C $32M–$200M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $580M in 2021

Portfolio highlights

  • YQN — YQNLink specializes in digital logistics, providing a comprehensive suite of international logistics services. This includes sea freight, air freight, rail freight, and multimodal transportation solutions. With a focus on leveraging digital technology, YQNLink aims to enhance supply chain transparency and efficiency, making shipping processessimpler for businesses. The company offers consultative services to tailor logistics solutions to specific business needs, ensuring a streamlined and effective logistics strategy. YQNLink's acquisition of COPE, a cross-border e-commerce logistics firm, further expands its capabilities in serving the e-commerce sector.
  • Sand.ai — Sand AI is an AI company that focuses on producing videos.
  • LibLib AI — LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd.
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PreAngel
VC Fund · Beijing, Beijing, China · 16 investments in China Internet startups

PreAngel is a 30M RMB investment fund focused on early stage internet startups. Investment on each project range from 100K to 1M RMB. In addition to investment, PreAngel plays a key role as "co-founder", providing guidance in startup operation, business model refinement and industry resources.

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Investment focus

  • Industry: Internet, Software, Blockchain
  • Stage:Angel, Seed, Series A
  • Geography: China, United States, Switzerland

Investor stats

  • Total investments: 104
  • Lead/follow: no public data

Portfolio highlights

  • Ajuna Network — Ajuna Network is a decentralized ecosystem for gamers and creators.
  • X World Games — Founded in 2018, X World Games (“XWG”) aims to build the next-gen decentralized gaming metaverse.X World Games' vision is to build a diversified gaming ecosystem that connects traditional gamers with the blockchain world and invite more game developers into the crypto space by creating and providing the underlying blockchain framework.Withits gaming innovation, crypto game - Dream Card, NFT Marketplace and DeFi Pool, X World Games now serves over 2 million registered gamers, and has quickly become the fastest-growing crypto gaming platform in the ecosystem.X World Games is headquartered in Singapore with a 100+ dynamic team located worldwide.
  • Feiba Business Travel — Feiba Business Travel is a business trip ticket service platform
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Sinovation Ventures
VC Fund · Beijing, Beijing, China · 16 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • ImageDT — ImageDT is a Enterprise services company.
  • Sand.ai — Sand AI is an AI company that focuses on producing videos.
  • Ruoban Technology — Ruoban Technology, an embodied intelligence firm, is focused on the study and development of intelligent robots for unstructured household scenarios.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 15 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • MQTEK — MQTEK is a platform level core component supplier specializing in upstream hardware for neutral-atom and ion-trap quantum computing architectures.
  • Zhidao Hechuang — Zhidao Hechuang is a comprehensive solution provider for new energy asset management.
  • Shenzhen Biang Core Technology
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BAI capital
VC Fund · Beijing, Beijing, China · 15 investments in China Internet startups, 10 in the past 12 months

BAI Capital is a leading venture capital fund in China. Since 2008, the team of BAI Capital has invested in more than 200 portfolios, including 17+ IPOs and 40+ unicorns. BAI Capital has two main focuses: China-based global companies and China’s structural transformation. BAI Capital seeks to partner with and empower outstanding Chinese companiesand entrepreneurs that can leverage the multiplier effect of China’s technology, talent, and supply chain advantages and to expand globally in consumer retail and services, fintech, media and content innovation, Web3 and metaverse. On the other hand, at the turning point of China’s structural transformation, the fund will also seize major cross-cycle disruption opportunities in frontier and infra tech, electric vehicles and autonomous driving, and industrial upgrade driven by enterprise software development.The investor base for BAI Capital includes institutional investors such as sovereign wealth funds, large insurance companies, internet giants and fund of funds globally, as well as Bertelsmann. BAI Capital has its background from Bertelsmann Asia Investments, part of the Bertelsmann Group.

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Investment focus

  • Industry: Software, Internet, Financial Services
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 140
  • Round size: Seed $4M–$100M; Series A $3M–$50M; Series B $14M–$100M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $700M in 2022

Portfolio highlights

  • Waffo
  • Rankyee Technology — Rankyee Technology is a supplier of simulations that develops next-generation computational fluid dynamics solutions with grid generation technology.
  • Reverse Matrix Technology — Reverse Matrix Technology focuses on the research and development of technologies that combine fundamental world models, enabling advanced simulations, intelligent systems, and data-driven insights to better understand complex environments and support next-generation innovation across industries.
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Oriental Fortune Capital
VC Fund · Shenzhen, Guangdong, China · 15 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 251
  • Round size: Seed $2.9M–$74M; Series A $1.4M–$50M; Series B $2.9M–$100M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Xellar Biosystems — Xellar Biosystems is a wet artificial intelligence biotechnology company that provides analysis of drug testing and treatment.
  • Qingyu Technology — Qingyu Technology is a software development service company specializing in the research, development, and sales of intelligent robots.
  • 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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Legend Capital
VC Fund · Beijing, Beijing, China · 14 investments in China Internet startups

Legend Capital, a subsidiary of Legend Holdings Ltd., started its vintage year in April, 2001 with a mission to become a top-notch and the most respected venture capital investment manager in China.Managing up to US$700 million across four funds, Legend Capital focuses on driving high-growth ventures with operations substantially based in Chinaor on markets related to China.Legend Capital mainly invests in early stage IT companies, specifically, in sectors of network applications and services, outsourcing and professional services, Infrastructure (IC design/key components), and mid-market growth stage companies in the fields of consumer goods, clean technology, health care, equipment manufacturing and modern services.Among over 60 portfolio companies are Joyo.com (acquired by Amazon.com), SinoCom (0299.HK), Solarfun Power (Nasdaq: SOLF), Spreadtrum Communications (Nasdaq: SPRD), China Sunshine Paper (2002.HK), and VanceInfo (NYSE:VIT), Eyang (0117.HK), etc.As an active investor, Legend Capital provides its portfolio companies extensive business resources and tailored services to assist with business development, company image building, and other critical company building activities on Chinese market so as to add value and maximize returns. Legend Capital is proud and thankful that it has the opportunity to blaze a trail with its innovative practice for China's venture capital industry.

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Investment focus

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

Investor stats

  • Total investments: 410
  • Round size: Series A $2.9M–$93M; Series B $12M–$115M; Series C $14M–$156M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $177M in 2021

Portfolio highlights

  • Pony.ai — Pony.ai is a startup that builds full-stack autonomous driving solutions. It is a pioneer in autonomous mobility technologies and services across the US and China, spearheading public-facing Robotaxi pilots in both markets. Pony.ai is committed to creating a safe and sustainable mobility future by delivering autonomous mobility everywhere.Thecompany was founded by James Peng and Tiancheng Lou in 2016 and is headquartered in Fremont, California, United States.
  • Sifli Technologies — Sifli Technologies focuses on the design and application development of embedded artificial intelligence IoT platforms.
  • Biortus — Wuxi Biortus Biosciences is an innovation-driven contract research organization (CRO) committed to high-quality R&D services in support of drug discovery.To help our clients achieve their drug discovery goals, we have established five world-class research platforms. These are Recombinant Protein Production, Structural Biology (X-rayCrystallography and Cryo-EM), In Vitro Assays and Screening, Medicinal Chemistry, and Process Development. Through the years, our R&D team has developed a number of practical and innovative techniques of which some have already been granted patent.
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Frees Fund
VC Fund · Beijing, Beijing, China · 14 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 213
  • Round size: Seed $1.4M–$14M; Angel $425k–$17M; Series A $1.4M–$35M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • SoundAI — Sound Technology is a science and technology innovation company that specializes in acoustics frontier technology and artificial intelligence interaction. It is committed to lead the more interactive experience of artificial intelligence in the real environment and realize the human-computer interaction vision that "listen to you and know whatyou think".
  • Methuselah — Methuselah is a research and development manufacturer of medical nutritional food.
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
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N5Capital
VC Fund · Beijing, Beijing, China · 14 investments in China Internet startups

N5Capital is a Beijing-based leading venture capital firm focusing on early stage investment in mobile internet. N5Capital is the only early stage USD venture fund in China specializing in mobile internet, big data and cloud’s disruptive convergence with consumer sectors. N5 believes these technologies are emerging to be the infrastructure ofproductivity growth and consumer behavior transformation. Founded in 2013 by Mr. Will Jiang and Mr. Weiguo Zhao, N5Capital is currently managing two RMB funds and one USD fund, with the total capital managed at $350 million USD. In 2016, N5Captial was awarded the Top 20 Early Stage Venture Capital Firm in China. The power of mobile disruption in the internet savvy Chinese population guarantees a strong investment potential. With more than 60 companies in its portfolio, N5Capital has represented some of the most leading-edge tech companies, including Talking Data, 360 Finance, Car 300, Hot & Hot, Viva Video, LGD, Ofashion and inMotion/SoloWheel. N5Capital has a unique GP team combination with a collective successful track record spanning from angel, early stage, and growth stage to corporate M&A with approximately 30 years combined investment experience. N5Capital analyzes in consumer sectors such as finance, retail, housing, automobile, travel among others and invests in start-ups that thrives on either build or leverage the underlying technology to disrupt or recreate the industry value chain . Through an expansive network, in-depth industry analysis and rigorous user behavior research, N5Capital is shifting the investment landscape for both start-ups and investors. For more information, visit www.n5capital.com.

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Investment focus

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

Investor stats

  • Total investments: 87
  • Round size: Seed $142k–$2.1M; Series A $907k–$15M; Series B $425k–$30M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Feiyu — Feiyu is an online purchasing platform for luxury trading bags.
  • Harmay — HARMAY is based on contemporary fashion and aesthetics, conveys the concept of beauty and beautiful life. Covering first well-known international cosmetics and skin care brands products, global unique boutiques, and HARMAY’s own products,
  • Zhongying Cross-border — Zhongying Cross-border is a cross-border e-commerce comprehensive service platform.
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GGV Capital
VC Fund · Menlo Park, California, United States · 14 investments in China Internet 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: 669
  • Round size: Series A $5M–$50M; Series B $14M–$60M; Series C $15M–$150M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $366M in 2021

Portfolio highlights

  • Moodles — Moodles is a Chinese IT firm that specializes on the food business.
  • Pacdora — Pacdora is an incredibly user-friendly online mockup design platform that boasts an extensive collection of 3D mockups and box templates. Whether you're a seasoned designer or just starting out, you can effortlessly create eye-catching mockups in no time. Plus, with our powerful 3D modeling software and a suite of AI design assistant tools atyour fingertips, your creative possibilities are limitless. Unleash your imagination with Pacdora today!
  • Chief — Chief is the only membership network that combines access to exclusive Clubhouses, world-renowned Guides and Executive Coaches, top-level training from the Wharton School of Business, annual summits, and events at the industry conferences that matter.
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CBC Capital
VC Fund · Beijing, Beijing, China · 14 investments in China Internet startups

CBC, founded by Dr. Edward Suning Tian in 2006, is a China-based private equity firm focusing on TMT investments. With its extensive industry expertise , CBC has been regarded as one of the most influential investors in the Internet and technology space in China, leading many exceptional investments in both the Enterprise and the Consumer Internetsectors. CBC leverages its operational background to create significant value for its portfolio companies. CBC currently manages multiple USD and RMB funds with a total AUM of over USD 2 billion and has built a strong portfolio consisting of leading industry companies such as 21Vianet, AsiaInfo, Longshine, Qiniu, Fraudmetrix, Dianping, Focus Media, Oriental Pearl, Babytree, Ximalaya, and Wacai.

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Investment focus

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

Investor stats

  • Total investments: 110
  • Round size: Series A $1.4M–$15M; Series B $7.3M–$50M; Series C $10M–$100M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • G7 — G7 has an installation base of 800,000 cargo vehicles throughout China. Through its proprietary hardware devices, the company is able to compile data for logistics companies and drivers on location, route optimization, fuel consumption, and cargo status (temperature, humidity, etc).
  • Robotphoenix — An industrial robot manufacturer in China
  • Kuntian New Energy — Hebei Kuntian New Energy is a producer of anode materials for lithium-ion batteries.
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Vertex Ventures China
VC Fund · Beijing, Beijing, China · 14 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 174
  • Round size: Seed $3M–$30M; Series A $2M–$43M; Series B $6.7M–$85M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Evolusia — Evolusia is Justice
  • Pinnacles Medical — Pinnacles Medical is an AI based developing and researching firm that evaluate needs and integrates diagnosis to provide overall solutions.
  • AnHeart Therapeutics — AnHeart Therapeutics is a developer of innovative pharmaceutical products. The company is focused on acquiring, developing and commercializing innovative pharmaceutical products that improve human health and quality of life. It's main research product, AB-106, is an oral, highly selective ROS1/NTRK small molecule inhibitor.
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UnityVC
VC Fund · Beijing, Beijing, China · 13 investments in China Internet startups

Unity Ventures began in Beijing in 2011 led by Shaw Wang who was one of the 7 founders of Baidu (NASDAQ:BIDU). As one of the leading local early-stage venture capital firms, they have invested in more than 200 startups, focusing on industrial upgrades, emerging technology, enterprise services, consumption internet and entertainment. They believe“Do valuable things, commercial value will follow". They are committed to adding value in the investment cycle and look forward to long-term cooperation with outstanding entrepreneurs.

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Investment focus

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

Investor stats

  • Total investments: 126
  • Round size: Seed $425k–$20M; Angel $283k–$1.6M; Series A $1.4M–$13M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Youbu — Youbu offers clothing supply chain services based on digital printing technology.
  • Aether AI — Aether is building a new class of AI systems that understand mechanisms, reason under intervention, and operate reliably in real-world systems.Aether provides causal World Models for Real-World Intelligence.
  • Euler Universal — Euler Universal is a technology startup focused on the study and development of embedded smart home technologies.
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Yonghua Capital
VC Fund · Shanghai, Shanghai, China · 13 investments in China Internet startups

Shanghai Chung Hua Investment Management Co., Ltd. is specialized in Yongjin Group's equity investment management platform. Total investment scale Chung Hua invest over 6 billion yuan, it has invested in more than 80 outstanding enterprises, of which more than 40 enterprises have been successfully listed. Currently Chung Hua investment teamcovering the major cities Beijing, Shanghai, Shenzhen, Xiamen, Hangzhou, Changsha, Chengdu, etc., and in many industries new energy, environmental protection, consumer goods, TMT, agriculture and other in-depth research team.

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Investment focus

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

Investor stats

  • Total investments: 165
  • Round size: Seed $142k–$14M; Series A $1.4M–$48M; Series B $2.8M–$100M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Minyue Keji — Minyue provides intelligent welding solutions that include a laser vision seam tracking system, a light vision sensor, and off-line programming software for industrial robots. They solve the programming problems of industrial robots in various complex applications, and the company has developed offline programming software for industrial robots.
  • Shanmu SHANMU — Shanmu SHANMU is a micro medical robot specialist who uses self-developed digital microfluidic chipsets and artificial intelligence algorithms. The robot can continuously check the metabolic components in urine, establishing a link between the user's health status and disease and intelligently establishing multiple disease management cycles.
  • Shexu Technology — Established in 2020, Shanghai Shexu Technology Co., Ltd. is an AI-driven industrial design software R&D technology enterprise and design service provider. The company has a professional scientific research and technical team, and has independently developed automatic industrial design software based on AI computing engine. The design softwarehas been widely used in the field of automotive industry equipment, significantly improving the design efficiency of industrial machinery designers.
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CDH Investments
VC Fund · Kowloon City, Kowloon, Hong Kong · 13 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • HitGen — HitGen is provides biological reagents and services to support drug discovery research.
  • ZSPepLib — Zonsen PepLib Biotech Inc. Zonsen PepLib Biotech Inc. is a high-tech biopharmaceutical enterprise that is dedicated to advancing global innovation in the discovery of new peptide drugs. Founded in September 2017, PepLib is headquartered in Zhuzhou, China, with a subsidiary in New Jersey, USA.
  • Eyegood Ophthalmic Hospital — Eyegood Ophthalmic Hospital is a ophthalmology hospital.
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QF Capital
VC Fund · Shenzhen, Guangdong, China · 13 investments in China Internet 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: 154
  • Round size: Seed $1.4M–$15M; Angel $425k–$14M; 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.
  • Taiyi Quantum — Taiyi Quantum is dedicated to encouraging innovation in the distribution and implementation of quantum computing technology, as well as developing sophisticated quantum algorithms and delivering tailored computing solutions for businesses and research institutes.
  • Lingchuan Technology — Lingchuan Technology is a high-tech enterprise focusing on transcoding/AI chip research and development.
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NewMargin Ventures
VC Fund · Shanghai, Shanghai, China · 13 investments in China Internet startups

NewMargin Ventures is a Chinese venture capital management company that supports emerging entrepreneurs.Founded in July 1999, NewMargin Ventures offers a unique and compelling combination of strong local and national government support within an organizational culture defined by independent decision-making, professionalism, and teamwork.NewMargin currently has about $520 million under management.

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Investment focus

  • Industry: Manufacturing, Information Technology, Internet
  • Stage:Series A, Angel, Series B
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 115
  • Round size: Angel $425k–$2M; Series A $1.4M–$15M; Series B $2.8M–$200M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $191M in 2019

Portfolio highlights

  • Humi.com — Humi.com is an industrial Internet service platform.
  • Okawa Electric — Okawa Electric is a supplier of core components for electric power-assisted bicycles.
  • SenseTime Medical — SenseTime Medical promotes the development and implementation of its medical big model and provides smart health solutions.
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Addor Capital
VC Fund · Nanjing, Jiangsu, China · 13 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Letuo Technology — Letuo Technology is a ASIC chip design & manufacturing firm focused on architecture and back end design, RTL coding, DFT, and synthesis.
  • Sichuan Ingia Biosynthetic — Looking for the best stevia manufacturers and wholesale suppliers? Look no further! Ingia Bio is the top natural sweetener manufacturer with a focus on precision fermentation. Find out why we're the best in the business!
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GSR United Capital
VC Fund · Beijing, Beijing, China · 13 investments in China Internet startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Evotrex — Evotrex focused on changing outdoor travel and adventure by introducing clever, power-generating RV trailers geared for self-sufficiency and off-grid exploration.
  • Junhe Atom — Junhe Atom is a company that focuses on Small modular nuclear reactors.
  • PhotoG — PhotoG is an international GenAI content marketing tool supplier. It operates in the fields of overseas content marketing and generative AI, with a focus on visual content development and e-commerce brand marketing.
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Eastern Bell Capital
VC Fund · Shanghai, Shanghai, China · 13 investments in China Internet startups

Eastern Bell Capital, established in 2010, is an ecosystem-based fund focused on "improving industry efficiency with supply chain as its core competence". The investment areas we focus on include logistics, supply chain, retail & brand, data technology, etc. Through years of hard work, Eastern Bell Capital has built an empoweringeco-resource system with deep knowledge and insight into circulation efficiency.

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Investment focus

  • Industry: E-Commerce, Manufacturing, Logistics
  • Stage:Series A, Series B, Series C
  • Geography: China, Hong Kong, Singapore

Investor stats

  • Total investments: 170
  • Round size: Series A $7.1M–$100M; Series B $14M–$270M; Series C $14M–$142M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $1.8B in 2021

Portfolio highlights

  • Mobisummer
  • ZongTeng Group — ZongTeng Group is a global cross-border e-commerce infrastructure service provider.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
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Yinxinggu Capital
VC Fund · Hangzhou, Zhejiang, China · 12 investments in China Internet startups, 8 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 162
  • Round size: Angel $425k–$14M; Series A $1.4M–$15M; Series B $2.8M–$57M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Beta Infinite — Beta Infinite approaches data and model technologies in a distinctive and distinctive way.
  • Linghou Robotics — Linghou Robotics is a core component supplier focusing on intelligent manufacturing and industrial automation, integrating R&D , production, sales and service.
  • Hechuan Humanoid Robot — Hechuan Humanoid Robot manufactures humanoid robots and develops core components for the humanoid robotics industry. The company produces electric-driven joints, hollow-cup motors for dexterous hands, micro torque motors, compact hollow encoders, and torque motors that serve as essential building blocks for humanoid robot systems. It operates avertically integrated supply chain that spans from core components to complete robot bodies. It provides R&D-driven power units and motion control systems that enable humanoid robots to perform industrial and commercial tasks.
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DT Capital Partners
VC Fund · Shanghai, Shanghai, China · 12 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 135
  • Round size: Series A $1.4M–$28M; Series B $2.8M–$90M; Series C $16M–$92M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $277M in 2019

Portfolio highlights

  • CiMicro.Ai — CiMicro.ai is an AI‑chip startup building compute‑in‑memory (CiM)‑based heterogeneous accelerators for high‑efficiency, low‑cost large‑language‑model inference.
  • Yincheng Intelligent — Yincheng Intelligent is an enterprise focused on developing new types of productivity. It is committed to revolutionizing traditional labor models through advanced embodied intelligence technology, thereby increasing productivity and freeing up human resources. The company provides services in multiple fields, including logistics, pharmaceuticals,chemicals, industry, and home services, building a new development pattern of smart work and smart living. Its main product is currently sorting robots used in the logistics industry.
  • 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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Angel Plus China
VC Fund · Beijing, Beijing, China · 12 investments in China Internet startups, 10 in the past 12 months

Angel Plus is a China-based venture capital firm.

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Investment focus

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

Investor stats

  • Total investments: 83
  • Round size: Seed $71k–$120M; Angel $425k–$2.8M; Series A $1.4M–$16M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Sand.ai — Sand AI is an AI company that focuses on producing videos.
  • Huaqing Weiyang — Huaqing Weiyang is a large-scale machine language model platform that provides intelligent solutions for software function development with AI technology to empower cyberspace.
  • Zhongke Tiansuan — Zhongke Tiansuan is a provider of space-based intelligent computing and application systems.
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Linear Venture
VC Fund · Beijing, Beijing, China · 12 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 101
  • Round size: Seed $300k–$8.5M; Angel $425k–$8.3M; Series A $2.8M–$60M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — raised $200M in 2020

Portfolio highlights

  • Aivela — Aivela offers hardware and software for capturing, analyzing, and managing visual and sensor data. The portfolio includes cameras, optics, lighting, and workflow software used for motion analysis, inspection, and experimental testing. Services cover solution design, system integration, calibration, and training to support deployment in laboratoryand production settings. Products integrate with common data acquisition and analytics tools and support synchronized triggering, high frame rates, and structured data management. Aivela serves engineering and research teams that need to document fast processes, quantify behavior, and produce repeatable measurements.
  • RABC Group — The 1st Transaction Neobank in Asia, to achieve easier, faster, cheaper working capital solutions with digital banking technologies. RootAnt's BANCO platform and BANCO Engine provide digital banking technologies for banks and non-bank financial institutions to offer better working capital solutions for enterprises.
  • JINGdigital — JINGdigital is China's Leading Marketing Automation Platform. Since our founding in 2014, JINGdigital has been providing brands with digital marketing optimization solutions through our JINGsocial platform. The platform enables brands to better understand customers and empowers brands to create valuable personal connections at scale.
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Ping An Ventures
VC Fund · Pudong, Shandong, China · 12 investments in China Internet startups

Ping An Ventures is a professional VC under Ping An Insurance (Group) Company of China, Ltd. with focused interest in start-ups of emerging innovation. It is committed to growing with the partners and driving success by provision of both funds and managerial expertise, resources and a platform."

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Series B, Angel
  • Geography: China, United States, Israel

Investor stats

  • Total investments: 89
  • Round size: Angel $425k–$1.7M; Series A $425k–$100M; Series B $3.5M–$99M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • DentaLink China — Developer of dental imaging technology and dental clinic management software. The company's software helps dental professionals accurately diagnose patient conditions through oral CT scanning, as well as keep track of patient records and appointments, enabling dental professionals to provide treatment more efficiently.
  • Zhangshang Tangyi — Zhangshang Tangyi is a health management platform with a focus on diabetes. It allows patients to upload their own health data to their mobile app and receive treatment guidance from doctors. Zhangshang Tangyi was founded in 2014 and is based in Hangzhou, Zhejiang.
  • Xgene Pharmaceutical — Xgene Pharmaceutical is a pharmaceutical company.
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Hillhouse Investment
VC Fund · Changyang, Beijing, China · 12 investments in China Internet startups

Founded in 2005, Hillhouse is a leading global investment management firm, active across public equity, private equity, real estate and private credit. The firm invests over a long-term horizon and partners with exceptional entrepreneurs to deliver sustainable value creation for quality companies.Hillhouse is a full life-cycle private equityfirm, investing for the long term across opportunities in the healthcare, business services, consumer, and industrials sectors. The firm manages capital on behalf of global institutions such as non-profit foundations, endowments, and pensions.

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Investment focus

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

Investor stats

  • Total investments: 331
  • Round size: Series A $2.9M–$142M; Series B $14M–$219M; Series C $15M–$220M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $11B in 2018

Portfolio highlights

  • Sainte — Sainte is a company which provides professional nutritional solutions for babies with different nutritional needs
  • 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.
  • NeueHCT — Horizon Continental Technology is a joint venture between Continental Group and Horizon Robotics
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Chuxin Capital
VC Fund · Beijing, Beijing, China · 11 investments in China Internet startups, 11 in the past 12 months

Chuxin Capital is an early-stage fund that actively deploys emerging formats centered on technology and consumption upgrades. It specializes in early-stage investments into companies within the enterprise services, technology, entertainment, and consumer products and services industries.Chuxin Capital was established in 2015 and is headquarteredin Beijing, China.

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Investment focus

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

Investor stats

  • Total investments: 65
  • Round size: Seed $1M–$14M; Angel $425k–$10M; Series A $425k–$40M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — raised $50M in 2019

Portfolio highlights

  • Aha Global — Aha is a one-stop influencer marketing platform designed to deliver results-driven campaigns. We empower brands to reach a global audience by connecting them with talented content creators. Aha is designed to become advertiser's most reliable partner in the digital marketing landscape, regardless of the scale or history of your business, Ahais creating a level playing field where all advertisers can thrive in the era of AI and data-driven marketing.Aha's mission is to foster an ecosystem where brands and creators thrive together, creating transparent and effective content marketing solutions.
  • Goodeep — Goodeep is a autonomous intelligent technology company that develops enterprise-level intelligent agents.
  • Shenzhen Entropy Technology — Shenzhen Entropy Technology is a robotics company that offers flying robotic butlers for home spaces.
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Chengwei Capital
VC Fund · Shanghai, Shanghai, China · 11 investments in China Internet startups

Chengwei Ventures is a venture capital firm.

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Investment focus

  • Industry: Software, Manufacturing, Internet
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Germany

Investor stats

  • Total investments: 108
  • Round size: Seed $8M–$25M; Series A $2.8M–$57M; Series B $8.5M–$55M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2012

Portfolio highlights

  • TandemAI — Streamline discovery with our integrated drug discovery platform, blending AI, physics-based tools, and wet lab for unparalleled innovation. Click now.
  • Kington Laser — Kington Laser specializes in the research, development, and manufacture of high-end laser processing equipment.
  • Full-Life Technologies — Full-Life Technologies Limited (“Full-Life”) is a fully integrated global RadioTherapeutics company headquartered in Shanghai, China with operations in Europe.
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Cybernaut Venture Capital
VC Fund · Hangzhou, Zhejiang, China · 11 investments in China Internet startups

As one of pioneering investment fund in China, Cybernaut (China) Investmentfocus on the Service sectors that serves Chinese middle class’s fast growing demands.? Cybernaut invests in early to growth stage private companies in financial services, health care, education, and specialty retail.? Cybernaut was founded by Mr. Min Zhu, who has a strongreputation and is well-known in the Silicon Valley and China for his extensive experience and outstanding achievements. Mr. Min Zhu was the founder and President of WebEx, which is the most powerful supplier of internet interactive services and internet conferencing in the world. Cybernaut works closely with top tier investment firms, such as NEA(New Enterprise Associates) and NLVC(Northern Light Venture Capital). NEA is one of America’s biggest venture capital firms specializing in start-ups and NLVC is a China concept venture capital firm focused on early and growth stage opportunities in technology enabled businesses. By now, Cybernaut has made many successful investment, such as Redbaby,lianlian and Focused Photonics Inc.? Cybernaut not only provides capital, but also operational experience, professional advice to their innovative Chinese entrepreneurs. They strive to help Chinese best entrepreneurs with their best ideas.

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Investment focus

  • Industry: Information Technology, Software, Education
  • Stage:Series A, Angel, Series B
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 77
  • Round size: Angel $425k–$1.4M; Series A $1.4M–$4.3M; Series B $2.8M–$59M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Picocom — Picocom, the 5G Open RAN baseband semiconductor and software specialist, designs and markets Open RAN standard-compliant baseband SoCs and carrier-grade software products for 5G small cell infrastructure.
  • CiMicro.Ai — CiMicro.ai is an AI‑chip startup building compute‑in‑memory (CiM)‑based heterogeneous accelerators for high‑efficiency, low‑cost large‑language‑model inference.
  • Laser Link — Laser Link is a laser communication company that focuses on the development of precision optical-mechanical products for commercial aircraft.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 487
  • Round size: Series A $1.5M–$156M; Series B $14M–$142M; Series C $4.3M–$142M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Waker Biology — Weike Bio is a gene therapy drug development company.
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K2VC
VC Fund · Beijing, Beijing, China · 11 investments in China Internet startups, 15 in the past 12 months

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • YolTech Therapeutics — Yaotang (Shanghai) Biotechnology is a high-tech biotechnology company focusing on developing a new generation of mRNA drugs and gene editing drugs by combining mRNA in vivo delivery technology and gene editing technology. Through the continuous development and optimization of CRISPR, base editing and other new-generation gene editing tools, andinnovative improvements to the next-generation mRNA production platform and lipid nanocarrier assembly process, Yaotang Bio is committed to developing treatments for genetic diseases and cardiovascular disease.
  • Mofeng Technology — Mofeng Technology is a high-tech enterprise specializing in the research and development of polymer materials.
  • ChipSense Technology — ChipSense Technology is a semiconductor focused on developing high-performance chips for AI computing infrastructure. The company provides chip solutions that enable perception and efficiency management in AI computing centers, helping optimize resource utilization, operational efficiency, and intelligent management of large-scale AI computingclusters.
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Future Capital Discovery Fund
VC Fund · Beijing, Beijing, China · 11 investments in China Internet startups, 21 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 145
  • Round size: Seed $1M–$15M; Angel $425k–$27M; Series A $1M–$28M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $187M in 2020

Portfolio highlights

  • LibLib AI — LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd.
  • Guangyu Yuanxin — Guangyu Yuanxin is a semiconductor technology service provider that specializes in offering ultra-high precision display screen services for metaverse HMI devices like AR and VR.
  • Liangkun Technology — Liangkun Technology integrates quantum computing, artificial intelligence, and high-performance computing to build a heterogeneous intelligent computing platform for scientific research. The company transforms previously unsolvable major scientific research problems into solvable, fast, and industrializable tasks through physically constrainedprecise computation based on quantum mechanics first principles. It encapsulates cutting-edge research findings into standardized products targeting real-world industry scenarios in semiconductors, new energy, and innovative drugs. The platform delivers order-of-magnitude efficiency improvements in solving major R&D problems while scaling large-scale problems with limited quantum resources.
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Glory Ventures
VC Fund · Shanghai, Shanghai, China · 11 investments in China Internet 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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Green Pine Capital Partners
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 192
  • Round size: Angel $425k–$2.9M; Series A $1.4M–$92M; Series B $9.9M–$150M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2019

Portfolio highlights

  • FutureFab.AI — Zhixian Future is a provider of engineering intelligent system solutions driven by multi-modal large models, serving more than 180 benchmark semiconductor customers.
  • Sungen Biomedical — Sungen Biomedical is engaged in the development of first-in-class (FIC) antibody therapeutics.
  • Signet Therapeutics — Signet Therapeutics is a cutting-edge firm that conducts research and development on cancer-targeted drugs using AI and organoid disease models.
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Ferry Venture Capital
VC Fund · Shanghai, Shanghai, China · 11 investments in China Internet startups

Ferry Venture Capital is an early-stage venture capital firm focused on building companies in the new technology industry. The firm invests in early-stage companies in three broad areas, mainly in Information Technology & Artificial Intelligence (IT & AI), Enterprise Services & Technology, and Consumer & Entertainment.FerryVenture Capital was founded in 2010 and is based in Shanghai, China.

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Investment focus

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

Investor stats

  • Total investments: 61
  • Round size: Seed $425k–$425k; Angel $68k–$1.3M; Series A $1.4M–$4.7M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Jishi yu — Jishi yu focuses on offering a multi-platform/multi-channel centralized and unified intelligent customer care SaaS platform for cross-border e-commerce sellers, with the goal of meeting the needs of foreign enterprise channel acquisition, customer operation, and brand management.
  • Zhihui Robot — Zhihui Robot is a research and development company that makes intelligent spraying robots. Zhihui Robot is a cutting-edge technological business specializing in the research, manufacture, sale, and use of special intelligent spraying robots.
  • Daochong Technology — Daochong Technology is a tech firm that does R&D, production and sales of high-power smart wireless charging systems.
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Northern Light Venture Capital
VC Fund · Beijing, Beijing, China · 11 investments in China Internet startups

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

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Investment focus

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

Investor stats

  • Total investments: 244
  • Round size: Seed $1.3M–$100M; Series A $4.3M–$52M; Series B $11M–$62M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — raised $375M in 2021

Portfolio highlights

  • Flytech — Flytech specializes in crystal materials and related components for magneto-optical-electrical integrated signal processing.
  • Moge Microflow — Moge Microflow is a manufacturer of equipment for microreactors. It provides continuous flow production technologies and equipment for nanomaterials, pharmaceutical intermediates, and fine chemicals, as well as standardized high-end microreactor equipment.
  • Bianzhong New Materials — Bianzhong New Materials is a high-tech company that specializes in the research and development of equipment for weaving and shaping three-dimensional preforms of high-strength fiber composite materials.
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CDF-Capital
VC Fund · Shenzhen, Guangdong, China · 11 investments in China Internet startups, 8 in the past 12 months

CDF-Capital is a private equity firm invests in growth and early-stage companies and its business covers 3+1 investment, including equity investment (start-up investment, M&A investment, industrial investment) and incubation investment (Chuangzhan Incubator). Since its establishment, it has received funding and recognition from the StateMinistry (Ministry of Finance, Ministry of Science and Technology), government guidance funds, parent funds, banks, and insurance companies.

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Investment focus

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

Investor stats

  • Total investments: 89
  • Round size: Seed $227k–$148M; Series A $206k–$16M; Series B $424k–$46M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Barty Medical — Barty Medical develops, manufactures, and markets coronary drug balloons, peripheral drug balloons, coronary PTCA balloons, peripheral PTA balloons, peripheral drug stents, supporting catheter sheaths, vascular interventional devices, and implanted devices.
  • Shitian Technology — Shitian Technology is a chemical enterprise that manufactures modified plastic compounds. The business operates in industrial sectors by supplying plastic components used for automotive interior and exterior parts, along with materials for electronic devices.
  • Xingyuanzhi Robotics — Xingyuanzhi Robotics strives to develop multimodal spatial intelligence systems and a universal embodied brain capable of comprehending and interacting with the physical world.
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Internet VC funding in China at a glance

Stats across 1.6k deals from 1.6k investors.

1.6k
investors
in China Internet startups
1.6k
deals
in China Internet startups
$8M
median round
in China Internet startups
38%
lead investors
lead at least one round
28%
Series A
most common funding stage

Access all 1601 VC funds in China Internet startups.

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