Hony Capital
VC Fund
Beijing, China
Hony Capital is a VC fund in Beijing focused on Biotechnology and Manufacturing. Founded in 2003, Hony Capital is a pioneer in China’s home grown private equity industry. Sponsored by Legend Holdings, a leading Chinese conglomerate, Hony has blazed the trail in formulating private equity investment strategies suitable for Chinese conditions by combining a deep understanding of local environment and people with global resourcesand international best practices. Today, with over USD 6.8 billion in assets under management across 7 funds and investments in over 60 companies, Hony is a leading China-focused private equity firm.Adhering to the “value creation” investment philosophy, Hony partners with managers and entrepreneurs to build their businesses into sustainable leaders in respective industries. Hony focuses on sectors where it has developed expertise: pharmaceuticals and healthcare, consumer & retail, media & entertainment, financial services, construction materials, machinery, and alternative energy & resources
- Total investments:
- 87
- Last investment:
- Lead investor:
- 33%
- Last fund:
Last updated:
For AI agents: llms.txt
Industries Hony Capital invests in
Stages Hony Capital invests in
Countries Hony Capital invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Series A
- $6.6M–$390M
- Series B
- $3.8M–$646M
Investment Focus
Industry
- Biotechnology 9 (10%)
- Manufacturing 9 (10%)
- Medical 8 (9%)
- Food and Beverage 8 (9%)
- E-Commerce 7 (8%)
Stage
- Series A 17 (20%)
- Series B 17 (20%)
- Seed 10 (11%)
- Venture - Series Unknown 7 (8%)
- Angel 6 (7%)
Country
- China 57 (66%)
- United States 8 (9%)
- Hong Kong 3 (3%)
- Italy 1 (1%)
- Japan 1 (1%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
|
Gu Yu
Investment Director
|
Investment Director | Total investments: 1 | Find email | |
John Zhao
Founder and CEO
|
Founder and CEO | Total investments: 8 | Find email | |
|
Kevin Yi Cheng
Managing Director
|
Managing Director | Total investments: 1 | Find email | |
|
Lang Xiaofeng
Managing Director
|
Managing Director | Total investments: 1 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
Robot Era
|
Robot era is an emerging technology business creates embodied intelligence and generic humanoid robot technologies and products. Xingdong Era is committed to the development of universal humanoid robots that can adapt to a wide range of fields, multiple scenarios, and high intelligence, striving to realize the beautiful vision of intelligent robotsentering thousands of households and integrating into the lights of thousands of homes. | $147.2M / Venture - Series Unknown / Jul 06, 2026 | |
|
SPARO Technology
|
SPARO Technology is a state-of-the-art company that specializes in general airborne intelligence. | Seed / Jul 02, 2026 | |
iRegene
|
iRegene researches and develops pharmaceutical therapy for neurodegenerative and rare diseases. | $38.3M / Series C / Jul 02, 2026 | |
|
Unbounded Dynamics
|
Unbounded Dynamics is a robotics and embodied intelligence startup focused on developing foundational AI “brains” and operational intelligence for robots and autonomous systems aimed at industrial and B-end scenarios. It works on the coordination of perception (“eyes”), manipulation (“hands”), and decision-making (“brain”) in physical robots bybuilding general basic models and expert system integrations as part of a hardware-software architecture to enable continuous iterative evolution of embodied intelligence. | Angel / Jun 26, 2026 | |
|
Grace Investment Machine
|
Grace Investment Machine is a next-generation, self-evolving intelligent agent investment platform designed to continuously learn from market dynamics, adapt its strategies in real time, and deliver data-driven insights that help investors optimize portfolio performance, manage risk effectively, and make smarter, faster investment decisions in anever-changing financial landscape. | Series A / Jun 25, 2026 | |
|
DaXiao Robotics
|
DaXiao Robotics is committed to advancing the technological iteration of its “human-centered” ACE embodied full-stack R&D paradigm, continuously integrating cutting-edge artificial intelligence, robotics engineering, and cognitive science to create more adaptive, intelligent, and responsive embodied systems that seamlessly collaborate withhumans across diverse real-world scenarios. | Seed / Feb 10, 2026 | |
|
Tianyikang Biotechnology
|
Tianyikang Biotechnology focuses on medical research and the development and application of next-generation cell immunotherapy products. | Seed / Feb 09, 2026 | |
Alioth
|
Elios focuses on the development and application of technical products for pharmaceutical process technology. | $14.4M / Series B / Jan 15, 2026 | |
Websea
|
Websea is a centralized cryptocurrency exchange offering digital asset trading and spot trading services for global users. | Seed / Dec 01, 2025 | |
|
Excalipoint Therapetics
|
Excalipoint Therapeutics is a Private limited company. | Series A / Aug 04, 2025 | |
| See all 87 investments → | |||
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FAQ
What does Hony Capital invest in?
Hony Capital invests primarily in Biotechnology, Manufacturing and Medical startups, most often at Series A and Series B stage. Most of the 87 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What is Hony Capital's check size?
Hony Capital typically joins rounds of $6.6M–$390M at Series A and $3.8M–$646M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Hony Capital participates in.
How do I contact Hony Capital?
Public channels for Hony Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Hony Capital?
The team at Hony Capital includes Gu Yu (Investment Director), John Zhao (Founder and CEO) and Kevin Yi Cheng (Managing Director). The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Sep 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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