# Initiate capital

> Initiate capital is a VC fund in Shanghai backing Gaming, Blockchain and Web3. See 5 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Shanghai, China
- Total investments: 5
- Last investment: Jun 2024
- Lead investor: 20%
- Last updated: Aug 2026
- Website: https://www.initiatecapital.cn/

Initiate capital is a VC fund in Shanghai focused on Gaming and Blockchain. Fire Phoenix Capital focuses on youth subculture content, community economy and consumption, and next-generation social networks.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Gaming | 2 | 40% |
| Blockchain | 2 | 40% |
| Web3 | 1 | 20% |
| Hardware | 1 | 20% |
| Animation | 1 | 20% |

11 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 2 | 40% |
| Series A | 2 | 40% |
| Series B | 1 | 20% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 2 | 40% |
| Singapore | 2 | 40% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Rainbow Star | Rainbow Star provides agricultural products and food for children in China. Its products include farm products, dry goods, imported fruits, children's food supplement, and eco-day supplies. |  | Series B | Jun 04, 2024 |  |
| HISINGY | Xingqi World HISINGY is a trendy drone brand. The company has three brands, "Xingqi World HISINGY" (UAV entertainment trendy play), "Xingqi Lab SGLRT" (Maker Education), "TCKFILMS" (Special drone video shooting/product). The goal of Xingqi World is to create an "entertainment ecology that spans virtual andreality", and uses technical elements such as drones, games, mixed reality, and metaverse to create a future technology trendy brand. |  | Seed | Apr 09, 2024 |  |
| Matr1x | Matr1x is the first-ever mobile shooting game in the Web3 industry. | $10M | Series A | Nov 23, 2023 |  |
| Metale Protocol | Read2N is a Web3 reading application and content copyright platform. | $2M | Seed | Dec 22, 2022 |  |
| SeeDAO | SeeDAO is a DAO incubator, an organisation that explores new production relationships for creators. |  | Series A | Apr 29, 2022 |  |

5 of 5 investments shown.

## Co-investors
- [280 Capital](https://shizune.co/investors/profile/280-capital) — VC Fund, 1 deal together
- [7updao](https://shizune.co/investors/profile/7updao) — VC Fund, 1 deal together
- [ABCDE](https://shizune.co/investors/profile/abcde) — VC Fund, 1 deal together
- [Chain Capital](https://shizune.co/investors/profile/chain-capital-a6f6) — VC Fund, 1 deal together
- [ChainIDE](https://shizune.co/investors/profile/chainide) — VC Fund, 1 deal together
- [Mask Network](https://shizune.co/investors/profile/dimension-293e) — VC Fund, 1 deal together

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## FAQ

### What does Initiate capital invest in?

Initiate capital invests primarily in Gaming, Blockchain and Web3 startups, most often at Seed and Series A stage. Most of the 5 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Initiate capital last invest?

The most recent investment recorded for Initiate capital closed in Jun 2024. Shizune tracks 5 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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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