# Topping Capital

> Topping Capital is a VC fund in Shanghai backing Manufacturing and Artificial Intelligence. See 20 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Shanghai, China
- Total investments: 20
- Last investment: Dec 2022
- Lead investor: 25%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/topping-capital/about/
- Website: http://www.topping-capital.com/gsjs

Topping Capital is a financial institution focusing on equity investment opportunities in strategic emerging industries. The Company offers wealth advisor solutions and investment strategies. It also creates value for LP and provides value-added services to invested companies.Topping Capital has invested in a number of projects including fourgenerations of information technology, new energy, new materials, and biomedicine. It was founded in 2012 and is based in Shanghai.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 5 | 25% |
| Artificial Intelligence | 5 | 25% |
| Hardware | 4 | 20% |
| Medical | 2 | 10% |
| Computer | 2 | 10% |

26 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 9 | 45% |
| Series B | 5 | 25% |
| Seed | 2 | 10% |
| Venture - Series Unknown | 2 | 10% |
| Series C | 1 | 5% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Hyperion | Hyperion is committed to the research and development of high-performance nano- and atomic-level precious metal materials. |  | Series A | Dec 20, 2022 |  |
| Mushiny Robotics | Mushiny Intelligence, a leading tech company offering comprehensive solutions to warehousing industry based on the intelligent algorithm, focuses on the development of intelligent WMS, systems integration & implementation of warehousing projects and related planning, design and consultation.Our core team members are from the world’s leadinge-businesses and manufactories such as Amazon, Bombardier, CS&S, etc. We are experienced in the operation of warehousing industry and development of software, especially in planning, system development of the warehouse for e-businesses. |  | Series A | Jul 14, 2022 |  |
| Tongee Medical Technology | Tongee Medical Technology develops new medical technologies to treat various metabolic diseases, such as obesity, type 2 diabetes, and nonalcoholic fatty liver. | $14.9M | Series B | Jun 16, 2022 |  |
| CORUI | CORUI manufactures and develops chromatographic instruments. Its instruments offer high accuracy, high speed, and low-cost operations, enabling customers to cut costs and improve operational efficiency. |  | Series A | Jun 09, 2022 |  |
| Inkelink Information Technology | Eric is a global digital solution provider for smart factories in the automotive industry. It is committed to improving the production and execution management capabilities, online quality management capabilities, supply chain management capabilities, and data value mining capabilities of vehicle or component manufacturers. Automotive manufacturersprovide professional application system products and overall solutions. The main business includes manufacturing operation management system MOM, online quality management system IQM, supply chain management system SCM and industrial big data Big Data product development, technical consulting, system integration. And system operation and maintenance. | $15.7M | Series B | Apr 07, 2022 |  |
| Planck Innovation | Pulang Innovation is a semiconductor quantum dot light-emitting material and equipment developer, focusing on the research and development, production and sales of semiconductor quantum dot light-emitting materials, new quantum dot displays and semiconductor thin film process equipment. The company has quantum dot material research and development,synthesis, and production capabilities. It has core technology. The unique quantum dot coating technology solves the key problem of insufficient stability of quantum dot materials. The quantum dot optical film products produced by the company are in thickness (ultra-thin), Stability, edge failure, color gamut and other key indicators are in a leading position in China. The innovation of the wave makes the application of quantum dot technology in portable display devices a possibility. |  | Series A | Dec 10, 2021 |  |
| Aivatech | Aivatech is a system solution company that involves chip design and vision algorithms. They design consumer-grade and industrial-grade 3D vision modules and solutions based on the AutoZhuying 3D AI processor, empowering smart door locks, access control, robots, and AI landing scenarios such as smart hardware and facial recognition payment. |  | Series A | Jul 15, 2021 |  |
| Ashermed | Ashermed is an innovative CRO company that provides clinical research for innovative pharmaceutical and device companies. |  | Series A | Mar 28, 2021 |  |
| Hercules Microsystems | Jingwei Qili is a developer of hybrid programmable computing chips. The company's products are mainly FPGA chip series products, as well as development boards and kits, etc., which can be applied to the field of artificial intelligence. At the same time, the company's business also includes providing users with testing and maintenanceCircuits and other services. |  | Venture - Series Unknown | Oct 12, 2020 |  |
| MingDu Intelligent | MingDu Intelligent is a medical intelligent manufacturing service provider. | $11.4M | Series A | Jul 22, 2020 |  |

10 of 20 investments shown.

## Co-investors
- [CAS Star](https://shizune.co/investors/profile/cas-star) — VC Fund, 2 deals together
- [Lenovo Capital and Incubator Group (LCIG)](https://shizune.co/investors/profile/lenovo-capital-and-incubator-group-lcig) — VC Fund, 2 deals together
- [Skytrace Capital](https://shizune.co/investors/profile/skytrace-capital) — VC Fund, 2 deals together
- [Autobio Diagnostics](https://shizune.co/investors/profile/autobio-diagnostics) — VC Fund, 1 deal together
- [BAIC Capital](https://shizune.co/investors/profile/baic-capital) — VC Fund, 1 deal together
- [Beijing Qili Xiangyun Technology Consulting Center](https://shizune.co/investors/profile/beijing-qili-xiangyun-technology-consulting-center) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund

## FAQ

### What does Topping Capital invest in?

Topping Capital invests primarily in Manufacturing, Artificial Intelligence and Hardware startups, most often at Series A and Series B 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.

### When did Topping Capital last invest?

The most recent investment recorded for Topping Capital closed in Dec 2022. 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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