# Hony Capital

> Hony Capital is a VC fund in Beijing backing Manufacturing and Medical. See 83 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Beijing, China
- Total investments: 83
- Last investment: Jul 2026
- Lead investor: 34%
- Last fund: Sep 2015
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/hony-capital
- Website: http://www.honycapital.com

Hony Capital is a VC fund in Beijing focused on Manufacturing and Medical. 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

## Contacts

5 contacts available for Hony Capital. Shizune tracks 4 team members at Hony Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/hony-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $6.4M–$390M |
| Series B | $3.8M–$646M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 9 | 11% |
| Medical | 8 | 10% |
| Biotechnology | 8 | 10% |
| E-Commerce | 7 | 8% |
| Health Care | 7 | 8% |

101 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 17 | 20% |
| Series B | 17 | 20% |
| Seed | 9 | 11% |
| Angel | 6 | 7% |
| Funding Round | 6 | 7% |

15 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 56 | 67% |
| United States | 6 | 7% |
| Hong Kong | 2 | 2% |
| Italy | 1 | 1% |
| Japan | 1 | 1% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Gu Yu | Investment Director | 1 | https://shizune.co/investors/profile/gu-yu-6e39 |
| John Zhao | Founder and CEO | 8 | https://shizune.co/investors/profile/john-zhao |
| Kevin Yi Cheng | Managing Director | 1 | https://shizune.co/investors/profile/kevin-yi-cheng |
| Lang Xiaofeng | Managing Director | 1 | https://shizune.co/investors/profile/lang-xiaofeng |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| 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 |  |

10 of 83 investments shown.

## Co-investors
- [HSG](https://shizune.co/investors/profile/sequoia-capital-china) — VC Fund, 5 deals together
- [Tencent](https://shizune.co/investors/profile/tencent) — VC Fund, 5 deals together
- [CDH Investments](https://shizune.co/investors/profile/cdh-investments) — VC Fund, 4 deals together
- [Hillhouse Investment](https://shizune.co/investors/profile/hillhouse-capital) — VC Fund, 4 deals together
- [Matrix Partners China](https://shizune.co/investors/profile/matrix-partners-china) — VC Fund, 4 deals together
- [CPE](https://shizune.co/investors/profile/citic-pe) — VC Fund, 3 deals together

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## FAQ

### What does Hony Capital invest in?

Hony Capital invests primarily in Manufacturing, Medical and Biotechnology startups, most often at Series A and Series B stage. Most of the 83 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 $6.4M–$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 Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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