# Keyuan Industry Fund

> Keyuan Industry Fund is a VC fund in Beijing backing Manufacturing and Biotechnology. See 20 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Beijing, China
- Total investments: 20
- Last investment: Jan 2024
- Lead investor: 20%
- Last updated: Aug 2026
- Website: https://www.keyuanfund.com

Keyuan Industry Fund is a fund manager that focuses on integrating technological innovation, financial support, and industrial resources. It was established in 2018 and is headquartered in Beijing, China.

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $12M–$21M |
| Series B | $16M–$211M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 6 | 30% |
| Biotechnology | 4 | 20% |
| Biopharma | 3 | 15% |
| Industrial | 3 | 15% |
| Pharmaceutical | 3 | 15% |

31 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 6 | 30% |
| Seed | 4 | 20% |
| Series B | 3 | 15% |
| Series C | 3 | 15% |
| Funding Round | 2 | 10% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| China | 18 | 90% |
| United States | 1 | 5% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Qiyuan Core Power Technology | Qiyuan Green Power provides services and solutions for green energy. | $211.3M | Series B | Jan 02, 2024 |  |
| Lepu Nadian | Lepu Nadian is a supplier of new-generation power battery materials and energy storage battery systems. It is market-oriented, integrating research and development, manufacturing, and sales, with an emphasis on sodium-ion battery technology innovation and engineering applications. | $20.9M | Series A | Jun 20, 2023 |  |
| Lepu Nadian | Lepu Nadian is a supplier of new-generation power battery materials and energy storage battery systems. It is market-oriented, integrating research and development, manufacturing, and sales, with an emphasis on sodium-ion battery technology innovation and engineering applications. |  | Seed | May 27, 2023 |  |
| Shanghai Carbon International | Shanghai Carbon International is a developer of carbon paper core materials for hydrogen fuel cells. |  | Series A | May 24, 2023 |  |
| Boao Mingsai | Boao Mingsai is a biopharmaceutical company that focuses on the drug development. | $28.4M | Series B | May 18, 2023 |  |
| Shunhua Lithium | Shunhua Lithium is a resource recycling high-tech enterprise integrating R&D, production and sales. It mainly engages in the safe and harmless recycling of used lithium-ion batteries. | $13.7M | Series A | Oct 31, 2022 |  |
| Kuaibu New Energy | Kuaibu integrates the battery products, charging operation to create an integrated storage, charging and inspection operation service. |  | Series A | Aug 31, 2022 |  |
| Zhongke Jiahong | Zhongke Jiahong is a tech R&D and manufacturing company that offers high-temperature methanol fuel cells. |  | Seed | May 09, 2022 |  |
| Leokey | Leokey engages in Internet of Things helping commercial properties and end consumers achieve the digital transformation. The company's digital key management platform integrates the Internet, chip technology and electronic security technology, with advanced chip modules and IoT innovation technology, which promotes the application of digitalkeys in the home, society and business fields; developed LIVE+ mobile phone interaction technology , the products have obtained the first batch of information and electronic security assessment certifications from the China Saibao Laboratory of the Ministry of Industry and Information Technology, and innovatively developed and promoted a variety of smart lock products. The company focuses on the R&D and marketing of smart application hardware such as Lekai 0-KEY smart door locks, smart access control, and smart access products.The company was founded in 2016 and is based in Hefei, Anhui, China. | $15.8M | Series B | Mar 31, 2022 |  |
| Phase Two Chemicals | Phase Two Chemicals is a clean chemistry company developing breakthrough technology for on-site hydrogen peroxide production. | $12M | Series A | Jan 01, 2022 |  |

10 of 20 investments shown.

## Co-investors
- [FTZ Fund](https://shizune.co/investors/profile/ftz-fund) — VC Fund, 2 deals together
- [Guohua Capital](https://shizune.co/investors/profile/guohua-capital) — VC Fund, 2 deals together
- [IDG Capital](https://shizune.co/investors/profile/idg-capital-partners) — VC Fund, 2 deals together
- [ABC International](https://shizune.co/investors/profile/abc-international) — VC Fund, 1 deal together
- [Anhui Huawen Capital Investment Management](https://shizune.co/investors/profile/anhui-huawen-capital-investment-management) — VC Fund, 1 deal together
- [Bank of China Financial Assets Investment](https://shizune.co/investors/profile/bank-of-china-financial-assets-investment) — VC Fund, 1 deal together

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## FAQ

### What does Keyuan Industry Fund invest in?

Keyuan Industry Fund invests primarily in Manufacturing, Biotechnology and Biopharma startups, most often at Series A and Seed stage. Most of the 20 investments tracked by Shizune back companies in China. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Keyuan Industry Fund's check size?

Keyuan Industry Fund typically joins rounds of $12M–$21M at Series A and $16M–$211M 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 Keyuan Industry Fund participates in.

### When did Keyuan Industry Fund last invest?

The most recent investment recorded for Keyuan Industry Fund closed in Jan 2024. Shizune tracks 20 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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