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Top 45 Retail Startup Investors in Hong Kong (October 2026)

The most active venture capital funds and angel investors investing in Hong Kong Retail startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Hong Kong Retail startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
IDG Capital
VC Fund
3 China, United States, Singapore Series A, Series B, Seed Internet, Software, E-Commerce $600k–$110M
Andreessen Horowitz
VC Fund
3 United States, United Kingdom, Canada Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $1.5M–$113M
Golden Gate Ventures
VC Fund
3 Singapore, Indonesia, United States Seed, Series A, Series B FinTech, Software, Financial Services $473k–$60M
MindWorks Capital
VC Fund
3 China, Hong Kong, United States Seed, Series A, Series B Financial Services, FinTech, Logistics $850k–$41M
Gaorong Capital
VC Fund
2 China, United States, Singapore Series A, Series B, Seed Artificial Intelligence, Information Technology, Software $1.6M–$110M
Bluebell Group
VC Fund
2 Hong Kong, Singapore, United Kingdom Seed, Pre-Seed E-Commerce, Fashion, Retail $1.5M–$3.5M
Chuxin Capital
VC Fund
2 China, Hong Kong, United States Angel, Seed, Series A Software, Information Technology, Artificial Intelligence $456k–$40M
Decent Capital
VC Fund
2 China, United States, Singapore Seed, Angel, Series A Internet, Information Technology, Software $425k–$25M
PAG
VC Fund
1 China, Hong Kong, India Private Equity, Series B, Post-IPO Equity Health Care, Biotechnology, Manufacturing $10M–$408M
Tasly Holding Group
VC Fund
1 China, Canada, Hong Kong Series A, Angel, Series B Health Care, Medical, Pharmaceutical $457k–$56M
New Heritage Investment Limited
VC Fund
1 Hong Kong Angel Retail, Software, Marketing
Alibaba Entrepreneurs Fund
VC Fund
1 Hong Kong, Taiwan, United States Series A, Seed, Series B Software, E-Commerce, Artificial Intelligence $510k–$150M
Xiaohongshu
VC Fund
1 China, Hong Kong Seed, Series A, Series B E-Commerce, Beauty, Fashion $1.4M–$15M
Viraj Bahl
Angel
1 India, Hong Kong Angel, Series A Retail, Fashion, Internet
Challenjers Capital
VC Fund
1 China, United States, Japan Series A, Angel, Seed Manufacturing, Food and Beverage, E-Commerce $425k–$15M
HSBC Innovation Banking
VC Fund
1 United Kingdom, United States, Germany Debt Financing, Pre-Seed, Post-IPO Debt Financial Services, FinTech, Software $750k–$233M
NZVC
VC Fund
1 New Zealand, United States, Australia Seed, Series A, Venture - Series Unknown Software, Artificial Intelligence, FinTech $940k–$33M
Collins Co., Ltd.
VC Fund
1 Hong Kong Seed Retail, E-Commerce
MSA Capital
VC Fund
1 China, United States, Egypt Series A, Seed, Series B E-Commerce, Financial Services, Biotechnology $1.5M–$130M
Qiming Venture Partners
VC Fund
1 China, United States, Hong Kong Series B, Series A, Series C Health Care, Biotechnology, Medical $4.3M–$120M
Hongkong Telecom
VC Fund
1 Hong Kong, Singapore, United States Series A FinTech, Retail, Payments $6M–$13M
HSG
VC Fund
1 China, United States, Singapore Series A, Series B, Seed Artificial Intelligence, Software, Health Care $2M–$200M
Prometheus Capital
VC Fund
1 China, Taiwan, Hong Kong Series A, Series B, Angel Gaming, Internet, Software $443k–$141M
Era
VC Fund
1 United States, Hong Kong Seed, Series A, Pre-Seed Software, FinTech, Financial Services $500k–$2B
Big Bloom Investment
VC Fund
1 Hong Kong, United States Seed, Series A E-Commerce, Mobile, Fashion $500k–$3.5M
Betatron Venture Group
VC Fund
1 Hong Kong, Singapore, India Seed, Series A, Pre-Seed Information Technology, Software, E-Commerce $30k–$10M
ZhenFund
VC Fund
1 China, United States, Singapore Seed, Series A, Angel Artificial Intelligence, Software, E-Commerce $146k–$22M
Haitao Capital
VC Fund
1 China, United States, Canada Seed, Venture - Series Unknown, Series A Software, Apps, Education $120k–$101M
Varun Alagh
Angel
1 India, United States, Hong Kong Seed, Series A, Pre-Seed Retail, E-Commerce, Information Technology $300k–$10M
John Wood
Angel
1 Hong Kong Seed, Series A Retail, Fashion, Children
Danielle Walsh
Angel
1 Hong Kong Seed, Series A Retail, Fashion, Children
George Godula
Angel
1 United States, China, France Seed, Series A, Series B Health Care, Information Technology, Mobile $1.3M–$150M
Songhe Capital
VC Fund
1 China Seed, Series A, Series C Manufacturing, Medical, Software
Frees Fund
VC Fund
1 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $447k–$28M
Transcend Capital Partners
VC Fund
1 Hong Kong, United States Series A, Seed Software, Artificial Intelligence, Apps $2.5M–$19M
Qingshuiwan Phase II Fund
VC Fund
1 Hong Kong Angel Retail, Fitness, Wearables
Tim Rath
Angel
1 Hong Kong, Singapore, The Netherlands Seed Fashion, E-Commerce, Retail $850k–$1M
Namita Thapar
Angel
1 India, Hong Kong Seed, Angel Food and Beverage, E-Commerce, Retail $48k–$1.2M
Kunal Bahl
Angel
1 India, United States, Singapore Seed, Series A, Pre-Seed Software, E-Commerce, Internet $280k–$17M
Lightspeed Venture Partners
VC Fund
1 United States, India, Israel Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $2M–$125M
AlteriQ Global
VC Fund
1 United Kingdom, Thailand, Hong Kong Debt Financing, Seed, Series A Software, Messaging, Mobile Apps $5M–$15M
Fortune Capital
VC Fund
1 China, Hong Kong, United States Series A, Series B, Series C Health Care, Artificial Intelligence, Information Technology $3M–$563M
Battery Road Digital Holdings
VC Fund
1 Egypt, Singapore, India Seed, Series A, Series B E-Commerce, Transportation, Payments $200k–$24M
Pine Venture Partners
VC Fund
1 Singapore, China, Hong Kong Series B, Seed, Series A Apps, Software, Health Care $3.7M–$47M
DST Global
VC Fund
1 United States, China, India Series B, Series A, Series C FinTech, E-Commerce, Financial Services $10M–$450M
Access all 63 investors in Hong Kong Retail startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

IDG Capital
VC Fund · Beijing, Beijing, China · 3 investments in Hong Kong Retail startups, 70 in the past 12 months

IDG Capital is a global investment firm partnering with founders to build enduring businesses through capital, expertise, and long-term support.

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Investment focus

  • Industry: Internet, Software, E-Commerce
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 1220
  • Round size: Seed $600k–$44M; Series A $2M–$100M; Series B $6.2M–$110M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Naive.ai — Naive.ai is a startup specializing in training AI agents with open-source models. It emphasizes post-training of open-source models to develop advanced AI agents.
  • Arrow Yuan Technology — Arrow Yuan Technology focuses on the research and development of reusable stainless steel propellant tanks.
  • Apex Intelligence — Apex Intelligence develops self-evolving AI models for scientific discovery.
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Andreessen Horowitz
VC Fund · Menlo Park, California, United States · 3 investments in Hong Kong Retail startups

Andreessen Horowitz (a16z) is a venture capital firm in Silicon Valley, California, investing in bold founders, innovators, and entrepreneurs building the future through technology.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 2107
  • Round size: Seed $1.5M–$16M; Series A $9M–$55M; Series B $17M–$113M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely actively investing — fresh fund, raised $1.2B in 2026

Portfolio highlights

  • Tennr — Tennr is a custom AI assistant that accelerates research, answers complex questions, and generates custom reports.
  • Phota Labs — Phota Labs is a developer of personalized AI photography tools preserving identity and memories.
  • Supersonik — Supersonik provides an AI-powered platform for SaaS companies to offer 24/7 interactive product demos, enabling prospects to explore and personalize demos instantly without scheduling or manual intervention.
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Golden Gate Ventures
VC Fund · Singapore, Central Region, Singapore · 3 investments in Hong Kong Retail startups, 9 in the past 12 months

Golden Gate Ventures is a venture capital firm investing across Southeast Asia. Since 2011, the firm has launched four funds, managed US$250M AUM, and invested in 60+ companies in over 7 countries in Asia. The firm focuses on investing in technology companies driven by the rising consumer class in Southeast Asia.

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Investment focus

  • Industry: FinTech, Software, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: Singapore, Indonesia, United States

Investor stats

  • Total investments: 154
  • Round size: Seed $473k–$6.4M; Series A $2M–$15M; Series B $10M–$60M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $100M in 2024

Portfolio highlights

  • 3cat — 3cat is an omnichannel platform specializing in the purchase, refurbishment, and sale of second-hand smartphones. The company operates through an integrated network of both online and physical retail outlets.
  • Triangle — We route, produce and promote tours across the region.
  • Kita Technologies — Kita Technologies uses computer vision and vision language models to transform unstructured documents into structured underwriting data.
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MindWorks Capital
VC Fund · Central, Hong Kong Island, Hong Kong · 3 investments in Hong Kong Retail startups

MindWorks Capital invests in and empowers Asia's most promising entrepreneurs to establish transformative businesses. MindWorks manages capital for university endowments, global asset managers, fund of funds, family offices, and Asia's top new economy innovators.

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Investment focus

  • Industry: Financial Services, FinTech, Logistics
  • Stage:Seed, Series A, Series B
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 77
  • Round size: Seed $850k–$13M; Series A $1.5M–$15M; Series B $9.3M–$41M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $220M in 2022

Portfolio highlights

  • Collov Labs — Collov is a virtual interior design & shopping platform that offers interior design services stocked with shoppable goods from many brands.
  • InsForge — Model gateway, compute, deployment, database, auth, and more. Every service built for AI coding agents to operate end to end through CLI and skills.
  • Kitar — Platform jual beli hp bekas yang aman dan transparan untuk beli HP second berkualitas dan jual HP cepat cair. Dapatkan garansi hingga 12 bulan, cicilan 0%, gratis ongkir, cashback, serta retur 7 hari.
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Gaorong Capital
VC Fund · Wangjing, Beijing, China · 2 investments in Hong Kong Retail startups

Gaorong Capital is a venture capital firm that focuses on early and growth stage investments in TMT, including AI and frontier technologies.

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Investment focus

  • Industry: Artificial Intelligence, Information Technology, Software
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 370
  • Round size: Seed $2.8M–$100M; Series A $1.6M–$75M; Series B $14M–$110M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely still investing — raised $185M in 2022

Portfolio highlights

  • Anew Labs — Anew Labs is an AI drug discovery company that combines generative models with experimental science.
  • Cascade — Cascade produces novel medications that target nuclear receptors for treating metabolic disorders and inflammation.
  • Sequence Technology — Sequence Technology emphasizes in the production of polymer materials used in the semiconductor manufacturing process.
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Bluebell Group
VC Fund · Quarry Bay, Hong Kong Island, Hong Kong · 2 investments in Hong Kong Retail startups

Bluebell Group is a distributor of luxury, premium, and lifestyle brands throughout Asia since 1954.

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Investment focus

  • Industry: E-Commerce, Fashion, Retail
  • Stage:Seed, Pre-Seed
  • Geography: Hong Kong, Singapore, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Seed $1.5M–$3.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Peeba — Peeba is a curated online wholesale marketplace that transform the way local retailers in Asia shop for their stores.
  • Grana — GRANA is a direct-to-consumer online fashion brand designing wardrobe essentials in-house, using the finest fabrics from around the world, available at honest prices.Strategically headquartered in Hong Kong, GRANA was founded by Luke Grana and Pieter Paul Wittgen in October 2014. GRANA ships globally to over 65 countries within 1-2 days.Countries include Australia, United States, Singapore, Hong Kong, Belgium, France, Germany, Italy, Netherlands, New Zealand, Spain and United Kingdom.
  • Reflaunt — Reflaunt empowers brands with the technology to embrace circular fashion. The allows brand's customers to put back on sale their past purchases without ever leaving the brand ecosystem rewards them with brand shopping credits
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Chuxin Capital
VC Fund · Beijing, Beijing, China · 2 investments in Hong Kong Retail startups, 13 in the past 12 months

Chuxin Capital is an early-stage fund that actively deploys emerging formats centered on technology and consumption upgrades. It specializes in early-stage investments into companies within the enterprise services, technology, entertainment, and consumer products and services industries.Chuxin Capital was established in 2015 and is headquarteredin Beijing, China.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Angel, Seed, Series A
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 88
  • Round size: Seed $1M–$14M; Angel $456k–$14M; Series A $1.1M–$40M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $50M in 2019

Portfolio highlights

  • Xspark AI — Xspark AI operates a physical intelligence model centered on developing trusted embodied artificial intelligence and robotics technologies. The company provides a core physical intelligence system built on an architecture that integrates multispectral tactile sensing with data infrastructure. This modular solution integrates into existing robothardware or deploys independently to deliver reliable execution and safe decision-making across dynamic operational environments. By combining task understanding, generative training data, and a systematic evaluation platform, the entity bridges the functional gap between digital models and physical deployment.
  • D-Robotics — D-Robotics is a leading provider of robotic computing solutions.
  • Xunlu Innovation — Xunlu Innovation is a cutting-edge bicycle manufacturer based in Shenzhen, China, specializing in intelligent electric cargo bikes designed to meet modern urban mobility needs.
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Decent Capital
VC Fund · Shenzhen, Guangdong, China · 2 investments in Hong Kong Retail startups, 7 in the past 12 months

Decent Capital is a venture capital firm with a cross-border presence. It was founded in 2007 by Jason Zeng, co-founder of Tencent Holdings Limited. Decent Capital has two teams, venture investment and asset management, with offices in Hong Kong, mainland China, Singapore and the United States. Decent’s investment team invests from Seed to SeriesA, primarily focusing on SaaS, Consumer Internet, and Frontier Tech. Decent has invested in over 200 companies globally, spanning across the United States, China, Australia, Canada, United Kingdom, Hong Kong and Singapore. Decent upholds strong dedication to post-investment management, they continue to heavily support their portfolio companies’ business operations, supply chain and logistics, and future fundraising efforts. While Decent’s emphasis is on early-stage investments, they prioritize continuing to support portfolio companies throughout growth, for example, Decent invested in Lime from Seed to Series D.

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Investment focus

  • Industry: Internet, Information Technology, Software
  • Stage:Seed, Angel, Series A
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 141
  • Round size: Seed $425k–$14M; Angel $425k–$2.9M; Series A $1.4M–$25M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • SigmaZ AI — SigmaZ AI Lab is a visual intelligence lab for the AGI era, redefining the interface between humans and information.
  • Apex Intelligence — Apex Intelligence develops self-evolving AI models for scientific discovery.
  • Qingyu Technology — Qingyu Technology is a software development service company specializing in the research, development, and sales of intelligent robots.
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PAG
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Hong Kong Retail startups

PAG is now one of the region’s largest Asia-focused investment managers with funds under management across Private Equity, Real Estate, and Absolute Return strategies.

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Investment focus

  • Industry: Health Care, Biotechnology, Manufacturing
  • Stage:Private Equity, Series B, Post-IPO Equity
  • Geography: China, Hong Kong, India

Investor stats

  • Total investments: 43
  • Round size: Series B $29M–$270M; Private Equity $53M–$408M; Post-IPO Equity $10M–$250M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: Likely actively investing — fresh fund, raised $432M in 2025

Portfolio highlights

  • Daydaycook — DayDayCook was founded in December, 2012. They are Hong Kong’s largest cooking multimedia platform and have community with monthly users totaly more than 400,000. Today, as more and more users aspire to a higher quality of life, food safety, and health, DayDayCook has become a platform for original recipes and cooking advice, helping their users tomaintain a healthy lifestyle.DayDayCook inspires a young generation to cook and enjoy both traditional and modern Asian recipes through a variety of distribution channels including digital and traditional publishing with high quality and easy-to-follow recipes.DayDayCook has millions of monthly viewers over its broad reach including website, mobile apps, videos, and books. With a strong and dedicated fan base including over 275,000 Facebook fans, DayDayCook also brings goods to the consumer through its e-commerce store 'The DayDayCook Shop'
  • DDC Enterprise — DDC Enterprise
  • ROKIT Healthcare — ROKIT Healthcare provides hardware, software, and application support. Their custom fabrication technologies deliver solutions to the design, creation, and applications of three-dimensional systems. They provide suffering patients and humans with a hyper-personalized medical organ regeneration solution. They apply artificial intelligence and 3dbioprinting technology to regenerate the skin and cartilage organs through surgery for patients.
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Tasly Holding Group
VC Fund · Tianjin, Guangdong, China · 1 investments in Hong Kong Retail startups

Incorporated in 1994, Tasly Holding Group has now developed to an internationalized and high-tech cooperation, engaging in pan-health industry with biological medicine industry as the core business, health industry and medical service as two supporting businesses.Guided by Chinese ancient civilization, Tasly is devoted to the philosophy “seekingfor harmonization between human and nature, improving humankind life quality” . With the mission of “to share the joy of health with all”, Tasly aims to become the No. 1 in modern biological pharmaceuticals and leader of integrated health industry in China. By now, Tasly has set up a pan-health industry line, which contains six core industries,including bio-pharmaceutical industry, health products industry, herbs industry, medical industry, health management industry and children education industry.Aiming to realize TCM globalization, Tasly has been sticking to develop the international market since its foundation. By now, more than 30 types of preparation products in 8 medical categories of Tasly have been put into the international market. And the export routes cover 23 countries in America, Europe, Africa and Asia. With the distribution network spreading to more than 40 countries, Tasly’s distributor members have almost reached a million in the world. In recent years, Tasly has been listed in the top 10 of TCM exporters in China. And in 2016, Tasly Pharm. Co.,Ltd was listed in the Top 500 of Chinese Enterprises released by the US Fortune magazine.

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Investment focus

  • Industry: Health Care, Medical, Pharmaceutical
  • Stage:Series A, Angel, Series B
  • Geography: China, Canada, Hong Kong

Investor stats

  • Total investments: 21
  • Round size: Angel $457k–$8M; Series A $1.5M–$14M; Series B $2.9M–$56M
  • Lead/follow: 52% lead, 48% follow

Portfolio highlights

  • Hegea Bio — Hygieia Pharmaceuticals_MVIP_DDP_NSDP Hygieia Pharmaceuticals is committed to building a delivery technology platform and drug development of siRNA.
  • Hengyu Medical — Hengyu Medical is a medical device firm focused on R&D and production of IVUS and optical coherence tomography, and catheter equipment.
  • Tokyo Lifestyle — Tokyo Lifestyle is a import and retail of Japanese beauty and cosmetic products and operates live e-commerce business.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
New Heritage Investment Limited
VC Fund · 1 investments in Hong Kong Retail startups

We are a Family investment company based in Hong Kong with a development history in China spanning 3 decades and two generations.

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Investment focus

  • Industry: Retail, Software, Marketing
  • Stage:Angel
  • Geography: Hong Kong

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • slowe — slowe is co-creating a sustainable future economy with our community of 10,000 impact businesses & 10 million conscious consumers by transformation. slowe is following the UNSDG Goal #12 - Ensure sustainable consumption and production patterns. For consumers, we are part of the goal (Target #12.8) of "By 2030, ensure that people everywherehave the relevant information and awareness for sustainable development and lifestyles in harmony with nature". For the business side, slowe "Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle (Target #12.6).Our community app is the gateway to change by making a transformation to a sustainable life easy. In our community, you will discover slowe business in your neighbourhood, creative inspiration for sustainable living, passionate advocates and muses on the journey of transformation with you. With everyday small changes, like buying coffee from a shop sourcing Fair Trade coffee or shopping at "one-for-one" shoe retailers, it could result in great impact in future. With slowe index, you could easily sort out which business fit your values before making consumption. Add stamp after purchase to create your own conscious spending passport. Each step you take move the wheel of our virtuous cycle.Our community app is also a theatre for impact business to shine. By joining our community to embrace slowe value, we provide super easy-to-use yet powerful, affordable yet effective tools for targeted marketing and consumer relationship management. United, we are stronger. slowe encourage businesses to exchange resources and collaborate on our platform to better serve consumers.slowe is playing the infinite game because we should preserve our planet for generations to come. We hope to change the world bit by bit, person after person, community after community, and unite everyone to blossom and thrive in our far future.Support us by downloading our Community App today to join the consumer revolution.
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Alibaba Entrepreneurs Fund
VC Fund · Causeway Bay, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

The Entrepreneurs Fund is a not-for-profit initiative launched by Alibaba Group in 2015 to help entrepreneurs and young graduates realize their dreams and vision. Two separate funds have been set up in Hong Kong and Taiwan respectively to support specific programs in each place.

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Investment focus

  • Industry: Software, E-Commerce, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: Hong Kong, Taiwan, United States

Investor stats

  • Total investments: 81
  • Round size: Seed $510k–$8M; Series A $2M–$15M; Series B $7M–$150M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • Tiiny AI — Tiiny AI offers a ready-to-use open-source ecosystem with one-click installation for models.
  • Vpon Holdings — Vpon Holdings is an AI big data analysis and advertising company.
  • Ziwu Technology — Ziwu Technology offers the conversion of bio-based waste into sustainable new materials and provides environmentally friendly solutions.
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Xiaohongshu
VC Fund · Shanghai, Shanghai, China · 1 investments in Hong Kong Retail startups

Xiaohongshu is a lifestyle-sharing platform for users to share positive energy and good life through the sharing of text, pictures, and videos. Xiaohongshu offers an overseas shopping tip app. Xiaohongshu started its business by helping overseas travelers to draft a shopping list before they hit the roads. But with the aggregation of more UGCcontent, the service is transforming into a community for those who are passionate about fashion and shopping and want to know more about these fields even though they do not have overseas traveling plans on their schedules.

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Investment focus

  • Industry: E-Commerce, Beauty, Fashion
  • Stage:Seed, Series A, Series B
  • Geography: China, Hong Kong

Investor stats

  • Total investments: 16
  • Round size: Series A $1.4M–$15M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • RheoFit — RheoFit is a wellness technology firm offering AI-powered smart massagers for muscle recovery and full-body relaxation.
  • Lanestar — Lanestar is a company specializing in "outdoor intelligent cooling technology."
  • XTEINK — XTEINK is an e-ink screen that magnetically attaches to the back of your phone.
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Viraj Bahl
Angel · Delhi, Delhi, India · 1 investments in Hong Kong Retail startups

Viraj Bahl is the Founder and Managing Director at Veeba Foods.

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Investment focus

  • Industry: Retail, Fashion, Internet
  • Stage:Angel, Series A
  • Geography: India, Hong Kong

Investor stats

  • Total investments: 5
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • FitFeast — FitFeast makes tasty protein-rich snacks like Peanut Butters, Protein Chips, Protein Bars, and Protein Shakes. Lab-Tested and Trusted by FDA.
  • MeMeraki — MeMeraki is India first culture-tech platform using technology to empower the artisan creator economy and shopping and retail and fashion.
  • Gully Labs — Gully Labs is a homegrown sneaker design house, specializing in hand-lasted sneakers that blend Indian cultural motifs with contemporary design. The brand releases new collections every 60 days, often drawing inspiration from Indian traditions, festivals, and regional art forms. Gully Labs positions itself as a response to both the lack ofauthentic Indian representation in mainstream sneaker culture and the prevalence of imitation products in the market, aiming to celebrate original Indian stories and craftsmanship
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Challenjers Capital
VC Fund · Beijing, Beijing, China · 1 investments in Hong Kong Retail startups

Challenjers Capital invests in China, and help build iconic brands of tomorrow. They determined to invest in the start-ups, which create authentic products and services, instead of companies, which inflate their margins with marketing fees.

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Investment focus

  • Industry: Manufacturing, Food and Beverage, E-Commerce
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 56
  • Round size: Seed $4M–$10M; Angel $425k–$1.5M; Series A $1.4M–$15M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Outopia — Outopia was established in China by a team of trail running champions and seasoned professionals from international luxury and sports brands. We create products that are engineered for performance and thoughtfully designed. Our goal: to enable meaningful experiences that transcend the gear itself.
  • ANYCUBIC — For Freedom To Make
  • Shangbai Global — Shop Bedsure blankets, bamboo and organic cotton sheets, duvet covers, comforters and heated throws. Cozy bedding chosen by over 100 million families.
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HSBC Innovation Banking
VC Fund · London, England, United Kingdom · 1 investments in Hong Kong Retail startups

HSBC Innovation Banking

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Debt Financing, Pre-Seed, Post-IPO Debt
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 37
  • Round size: Pre-Seed $750k–$750k; Post-IPO Debt $232M–$233M; Debt Financing $8.5M–$112M
  • Lead/follow: 81% lead, 19% follow

Portfolio highlights

  • Numan — Convenient care, tailored to you. Offering treatments for weight loss, diagnostics, erectile dysfunction, hair loss, and more.
  • Baskit — baskit | Empowering wholesalers and distributors with the world's first cloud-native all-in-one app
  • TRIVER — Triver develops online and digital tools to assist and support various financial services. It is based in London, England.
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NZVC
VC Fund · Auckland, Auckland, New Zealand · 1 investments in Hong Kong Retail startups

The NZVCA’s mission is to develop a world-best private equity (“PE”) and venture capital (“VC”) environment for the benefit of investors and entrepreneurs in New Zealand.Their activities cover the whole spectrum of investment in New Zealand private capital including Angel investment, seed and early-stage venture capital through to developmentcapital and private equity (including management buy-outs and buy-ins).

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Investment focus

  • Industry: Software, Artificial Intelligence, FinTech
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: New Zealand, United States, Australia

Investor stats

  • Total investments: 63
  • Round size: Seed $940k–$6.6M; Series A $2.4M–$33M; Venture - Series Unknown $2.5M–$10M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: Likely still investing — raised $17M in 2022

Portfolio highlights

  • Vessev — Electric hydrofoiling vessels built for commercial use. Quiet, efficient, and better for the world.
  • SYOS — SYOS designs and manufactures a multi-domain portfolio of advanced uncrewed autonomous systems across air, land, sea, and subsurface.
  • Andromeda Surgical — Empowering surgeons with autonomous precision
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Collins Co., Ltd.
VC Fund · 1 investments in Hong Kong Retail startups

Founded in 1969, listed on the Taiwan Stock Exchange, Collins trades building materials & processed products in the U.S., Europe & Asia.

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Investment focus

  • Industry: Retail, E-Commerce
  • Stage:Seed
  • Geography: Hong Kong

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • HEXAI — Hexai is a technology startup focused on AI driven global e-commerce company By leveraging artificial intelligence and big data, we enable highly efficient and precise management on the world’s largest e-commerce platform, Amazon. In early 2025, we received strategic investment from a publicly listed company, marking the beginning of our rapidexpansion. While our products were initially sold mainly in the U.S., we are now actively expanding into the U.K., Germany, France, Canada, and other markets.Through algorithmic decision-making and AI technologies, Hexai significantly improves sales efficiency and reduces operational risk, allowing a lean team to manage a vast product portfolio with precision. Our AI system dynamically analyzes market trends, enabling optimal pricing strategies, targeted advertising with higher ROAS, and smarter supply chain and inventory management to keep products highly competitive.Our vision is to build a future where AI and human teams operate e-commerce together. We aim to break traditional boundaries with innovative technologies, making cross-border commerce smarter and more efficient while continuously expanding into new markets. If you are passionate about AI, e-commerce, data analytics, or supply chain management, we welcome you to join us and shape the future of AI-powered commerce.Milestones • Dec 2021 Annual revenue surpassed USD$3 million for the first time and has continued to grow since • Nov 2022 Our technical team secured investment from 500 Global (USA) and launched Ailumia • Jan 2025 Received strategic investment from public company Collins Co Ltd., entering a high-growth phase
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MSA Capital
VC Fund · Beijing, Beijing, China · 1 investments in Hong Kong Retail startups

MSA Capital is a global venture capital and private equity firm that invests in technology-enabled companies from seed to growth stage. The firm manages capital from the world's top sovereign wealth funds, international asset managers, pension funds, university endowments, fund of funds, and family offices, as well as China's leading neweconomy entrepreneurs.

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Investment focus

  • Industry: E-Commerce, Financial Services, Biotechnology
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Egypt

Investor stats

  • Total investments: 158
  • Round size: Seed $1.5M–$11M; Series A $3.5M–$33M; Series B $7.9M–$130M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Sand.ai — Sand AI is an AI company that focuses on producing videos.
  • Memory tensor — Memory tensor designed with a focus on systematic innovation, grounded firmly in fundamental principles, serves as a powerful tool for scalable and adaptable intelligence. Its architecture emphasizes three core attributes: low cost, ensuring economic feasibility and accessibility; low illusion, reducing overfitting and minimizing hallucinations ormisleading outputs; and high generalization.
  • Westlake Lingxi — Westlake Lingxi develops brain-computer interface technologies, including neuro-prosthetic systems and neural decoding solutions, to support rehabilitation for people with language and movement disorders.
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Qiming Venture Partners
VC Fund · Shanghai, Shanghai, China · 1 investments in Hong Kong Retail startups

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China, and Singapore.Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companiesin the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 1195
  • Round size: Series A $4.3M–$48M; Series B $7.9M–$90M; Series C $12M–$120M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: Likely actively investing — fresh fund, raised $8M in 2026

Portfolio highlights

  • LP Amina — LP Amina focuses on products that improve coal-fired power plant's emissions and efficiency. Leveraging 50 unique patented products to improve the firing system of a coal-fired boiler, including Rotating Vane Wheels, High Performance Classifiers, Coal Pipe Balancing Technologies, and Burner Enhancements, the Company provides products andsolutions that will meet or exceed the expectations of their customers. Furthermore, LP Amina's corporate culture is one of a relentless pursuit of continuous improvement. Utilizing the latest technology and traditional know-how from the World's two largest users of Coal for power generation, the Company is well positioned to develop new products and solutions to meet the ever changing needs of Power Industry.LP Amina's staff has over 20 years of experience in the design, fabrication, installation and commissioning of coal-fired power plants. During this time, the team has gained a wide range of experience from the evolution of the US Power Market. Increases in environmental regulations and free market driven energy prices have forced plant operators to reduce emissions and improve reliability while lowering operational cost. LP Amina's engineering and design team will leverage this experience gained from the US and Europe to address the emergence of similar issues in China.
  • Nice Tuan — Nice Tuan is an e-commerce platform that provides daily groceries and miscellaneous products.
  • Shennapsi Artificial Intelligence Technology — Synapsor is a medical-grade wearable device research and development company, oriented to the AI+ medical and health field, and is committed to the development and manufacturing of AI-powered medical-grade smart wearable devices, including AI-ECG artificial intelligence. Diagnostic analysis system, CUMS uric acid blood glucose and cholesterolmonitoring system, etc. The company has recently received tens of millions of yuan in Series B investment, and the investor is Xiaomi Technology.
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Hongkong Telecom
VC Fund · Causeway Bay, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

Hong Kong's premier telecommunications service provider for the public, local and international businesses.

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Investment focus

  • Industry: FinTech, Retail, Payments
  • Stage:Series A
  • Geography: Hong Kong, Singapore, United States

Investor stats

  • Total investments: 3
  • Round size: Series A $6M–$13M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Magically — Magically, Inc., the Worldwide leader in Communication & Collaboration technologies focuses on Personal communication and collaboration components. Magically's technology solutions, designed for the mobile work force and virtual communities, are universally accessible through multiple platforms, in any language and from any Internetenabled device. MagicalDesk, the flagship product, is an award-winning suite of information management tools for the corporate / SME user. Magically's newest product, Magical WorkSpace, is an enterprise application focused on workflow and team collaboration. Based in Redwood City, California, Magically is a privately owned and operated company with offices in Hong Kong, UK and Tokyo.
  • Wonder — Pay and Get Paid Effortlessly. Get started in just 7 minutes and have everything businesses need to manage finances and grow.
  • ClearX — ClearX builds blockchain-based settlement and clearing networks for global industries. Using enterprise-grade blockchain technologies and programmable smart contracts, these networks allow near-real-time settlement and automatic intelligent dispute resolution on a global scale. This reduces costs, inefficiencies and fraud, while maintainingconfidentiality of contracts and trade details. Moreover, these networks enable rapid participant-driven innovation of new on-demand products, contracts, and business models, accelerating exponential growth.
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HSG
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

HSG is a leading venture capital and private equity firm investing globally in the technology, healthcare, and consumer sectors.

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Investment focus

  • Industry: Artificial Intelligence, Software, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 1085
  • Round size: Seed $2M–$50M; Series A $4M–$100M; Series B $11M–$200M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $2.5B in 2024

Portfolio highlights

  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
  • BCI-Sonics — BCI-Sonics is an innovative medtech company developing non-invasive brain-computer interface solutions using advanced transcranial focused ultrasound (tFUS) technology. The company builds a next-generation therapeutic platform enabling precise neuromodulation to treat central nervous system disorders. BCI-Sonics develops low-intensity focusedultrasound technology that non-invasively stimulates deep brain regions with high precision. They combine ultrasound engineering and neuroscience to interface safely and effectively with the human brain without surgery. The company is creating an AI ultrasound brain-computer interface platform for therapeutic neuromodulation applications.
  • Suisheng Technology — Suisheng Technology is an innovative company specializing in AI-driven memory services, dedicated to developing intelligent solutions that help individuals and businesses capture, organize, and retrieve important information with greater efficiency and precision.
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Prometheus Capital
VC Fund · Beijing, Beijing, China · 1 investments in Hong Kong Retail startups

Prometheus Capital is an investment firm that focuses on healthcare, technology, education, and consumer sectors. The investment firm currently manages over 1 billion USD in assets from institutions and individual investors’ funds. Prometheus Capital was founded in 2012 as a family fund of Mr. Wang Jianlin and Mr. Wang Sicong and is based inBeijing, China.

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Investment focus

  • Industry: Gaming, Internet, Software
  • Stage:Series A, Series B, Angel
  • Geography: China, Taiwan, Hong Kong

Investor stats

  • Total investments: 33
  • Round size: Angel $443k–$1.6M; Series A $1.6M–$129M; Series B $2.9M–$141M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Freemud — Freemud is a smart retail support system and solutions provider.
  • Rescale — Accelerate product breakthroughs with Rescale's digital engineering platform that transforms HPC, modeling and simulation data into engineering excellence.
  • Golden Technology — Golden Technology is a big data service company offering electronic invoice solutions using blockchain technology.
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Era
VC Fund · New York, New York, United States · 1 investments in Hong Kong Retail startups, 6 in the past 12 months

Founded by Jasper Lau, Era is a global investment firm backed by leading closely-held family enterprises across 19 countries and 25 industries. Era brings together the collective expertise, industry intel, and strategic capital of the firm’s families to invest in category-defining technology companies solving civilization’s biggest industrialchallenges.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Hong Kong

Investor stats

  • Total investments: 18
  • Round size: Seed $3.2M–$2B; Pre-Seed $500k–$3M; Series A $7.7M–$100M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely actively investing — fresh fund, raised $1.6M in 2026

Portfolio highlights

  • Odeko — Odeko is a software platform that assists small businesses in managing their operations and inventory while providing tools for order fulfillment, customer engagement, and data analytics to enhance decision-making and streamline processes. The platform offers features such as inventory tracking, supply chain management, and sales reporting,enabling businesses to operate efficiently and effectively in a competitive market. Additionally, Odeko supports integration with various payment systems and delivery services, facilitating a seamless experience for both business owners and their customers.
  • Hydra Host — Hydra Host offers Bare Metal GPU solutions for AI, HPC, and big data. Enjoy autonomy, privacy, and scalable performance options. Get in touch!
  • Exponent Financial — Exponent Financial is a financial platform designed for franchise owners and multi-location enterprises.
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Big Bloom Investment
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

Big Bloom is an Angel Investor based in Hong Kong. We are always looking for people and businesses with a passion for what they do.

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Investment focus

  • Industry: E-Commerce, Mobile, Fashion
  • Stage:Seed, Series A
  • Geography: Hong Kong, United States

Investor stats

  • Total investments: 7
  • Round size: Seed $500k–$2M; Series A $2.2M–$3.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Oddup — Trade on real-world outcomes with our unique Yes/No/Maybe model. Crypto, FX, indices, commodities, and more.
  • Wingz — Book a driver for a ride. Drivers are background checked. Wingz, the smarter & safer transportation service
  • Floship — Streamline your eCommerce logistics with Floship. Fast shipping, global network, and advanced fulfillment tech.
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Betatron Venture Group
VC Fund · Sheung Wan, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

Betatron Venture Group is a venture capital firm that invests in early-stage companies.

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Investment focus

  • Industry: Information Technology, Software, E-Commerce
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Hong Kong, Singapore, India

Investor stats

  • Total investments: 61
  • Round size: Seed $30k–$4.1M; Pre-Seed $30k–$150k; Series A $2.7M–$10M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $15M in 2022

Portfolio highlights

  • Yarken — Yarken is the connector that conncet the dots between IT and finance.
  • Mappedin — Mappedin lets you create indoor maps using AI-powered tools and share them anywhere. Maps help make the indoors discoverable.
  • Cube Asia — Cube Asia helps the world's leading brands, investors, and consulting firms access best-in-class e-commerce market data and insights.
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ZhenFund
VC Fund · Beijing, Beijing, China · 1 investments in Hong Kong Retail startups

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 800 portfolio companies, including over 30 unicorns based in China. Webelieve that great businesses start with exceptional founding teams. We are dedicated to helping our entrepreneurs build successful companies by providing them with mentorship and the best resources available. Some of our services include biannual demo days to top Chinese VCs, ZhenHR services, marketing and PR consulting, as well as fundraising. Our strong and large CEO network also facilitates entrepreneurs helping each other, especially via our WeChat platform. ZhenFund has been ranked as the “#1 Early-Stage Investment Firm” for six years. Bob Xiaoping Xu, Founder of ZhenFund, has been named on the Midas List since 2016 and ranked #11 in 2019. Anna Fang, Founding Partner and CEO of ZhenFund, has been named on the Midas List since 2019 and made her 4th appearance as #12, and #1 on Midas Seed List in 2022.

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Investment focus

  • Industry: Artificial Intelligence, Software, E-Commerce
  • Stage:Seed, Series A, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 751
  • Round size: Seed $146k–$14M; Angel $425k–$3M; Series A $873k–$22M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Snowplus — SNOWPLUS is an e-cigarette brand that provides users with e-cigarette products through a combination of online and offline sales models. The products are available in 12 different types of flavors. The products use TrueFeel honeycomb ceramic atomization technology and Aeroflow intake. Technology; In addition to reference to the existing food-gradestandards in China, Xuejia has also passed a number of third-party certifications in terms of safety. The core components such as atomizing core and cigarette holder comply with the highest medical safety standards of the FDA and the European Union.
  • Futuring Robot — Futuring Robot is a developer of dual-arm home service robots focusing on C-end home scenarios.
  • Qisuan Kuang-Chi — Qisuan Kuang-Chi is a pioneering artificial intelligence hardware company focusing on the research, development, and engineering of AI optical computing chips and related system infrastructure. The company utilizes a proprietary all-optical interference technology architecture to bypass physical constraints found in legacy electronic chipsets,aiming to establish computational infrastructure for Artificial General Intelligence (AGI).
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Haitao Capital
VC Fund · Shanghai, Shanghai, China · 1 investments in Hong Kong Retail startups

Haitao Capital is the first China-macro driven early stage venture fund. China's story is no longer just a Chinese story.

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Investment focus

  • Industry: Software, Apps, Education
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 28
  • Round size: Seed $120k–$4.7M; Venture - Series Unknown $1.5M–$101M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Aggregion — Any scenarios for data collaboration in a secure and trusted environment: Building and running ML models, Customer data management and communications, Business partnerships and ecosystems
  • 247tickets — 247tickets is a one-stop-shop for tickets to the best events, movies, experiences and trips in China and around SE Asia.With offices in Shanghai, Shenzhen & Beijing, 247tickets aims to present customers with endless options of events, experiences, trips, tours and movies, with personalised recommendations, all the best deals and the bestcustomer service and concierge agents in the business. Tickets can be booked on their easy to use mobile/desktop website, via a WeChat concierge service or via distribution partners, including websites such as TimeOut China and City Weekend Shanghai.With an emphasis on the best in entertainment and experiences, 247tickets have sold tickets to tens of thousands of plays, sports events, musicals, tours, movies, trips and more. In 2017 they acquired the trip and experience provider Travelers Society, stating their intent to join the high growth markets of inbound and outbound tourism in China.
  • Hippo & Crate Ltd — Hippo&Crate is a subscription-based D2C oral care brand fast becoming a world-class lifestyle brand for personal care CPGs.  Think of us as the DollarShaveClub of the U.S. whom got acquired by Unilever for a cool US$1B with MUJI aesthetics.We are in the early innings of a generational oral care upgrade in China and riding on the megaconsumption upgrade trend that is taking the entire continent by storm. Our purpose is to allow our customers to look and feel good, and that's why we went to great length to make really high quality, beautiful oral care products with better ingredients for them.Our model is relatively simple, vertically integrated, digital native disrupting the major players like P&G, Unilever by cutting off the retailers and selling to the consumers direct. We do this by building up a fanatical fan base with word of mouth tactics. These behemoths do not have relationship with their customers and overly depend on broadcast advertising, this is where we come in.Brushing is the new Sexy!
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Varun Alagh
Angel · Gurgaon, Haryana, India · 1 investments in Hong Kong Retail startups, 9 in the past 12 months

Varun Alagh is based out of Gurgaon, Haryana, and is the Co-Founder, Chief Dad, and CEO of Honasa Consumer. Varun previously worked at The Coca-Cola Company as a Senior Brand Manager. Varun Alagh attended XLRI Jamshedpur.

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Investment focus

  • Industry: Retail, E-Commerce, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: India, United States, Hong Kong

Investor stats

  • Total investments: 66
  • Round size: Seed $300k–$4M; Pre-Seed $332k–$500k; Series A $1.5M–$10M
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • MeMeraki — MeMeraki is India first culture-tech platform using technology to empower the artisan creator economy and shopping and retail and fashion.
  • Protein Pantry — Protein Pantry is an Indian clean-label food brand offering ready-to-cook, vegetarian, high-protein tikkis and chaaps
  • The Binge Town — India's #1 Private Theater Chain for movie screening and Celebrations
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John Wood
Angel · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

John Wood is the founder of Room to Read. He started Room to Read after a fast-paced and distinguished career with Microsoft from 1991 to 1999. He was in charge of marketing and business development teams throughout Asia, including serving as director of business development for the Greater China region and as director of marketing for theAsia-Pacific region. John continues to bring Room to Read a vision for a scalable solution to developing global educational problems with an intense focus on results and an ability to attract a world-class group of employees, volunteers, and funders.Today, John focuses full-time on long-term strategy, capital acquisition, public speaking, and media opportunities for the organization. John also teaches at the Harvard Graduate School of Education and New York University’s Stern School of Business and serves on the Advisory Board of the Clinton Global Initiative.John holds a bachelor's degree in finance from the University of Colorado and a master’s degree from the Kellogg School of Northwestern University. Follow John on Twitter @JohnWoodRtR.

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Investment focus

  • Industry: Retail, Fashion, Children
  • Stage:Seed, Series A
  • Geography: Hong Kong

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Retykle — Buy & sell new and second hand designer children's clothing at up to 90% off. Shop today for great discounts on clothes, shoes and accessories from over 2000+ of the best baby and kids brands
  • Green Monday — Green Monday Holdings is a manufacturer of plant-based pork substitute products and frozen meals and an operator of a chain of vegetarian-focused retail outlets and cafes.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Danielle Walsh
Angel · 1 investments in Hong Kong Retail startups

Investment focus

  • Industry: Retail, Fashion, Children
  • Stage:Seed, Series A
  • Geography: Hong Kong

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Retykle — Buy & sell new and second hand designer children's clothing at up to 90% off. Shop today for great discounts on clothes, shoes and accessories from over 2000+ of the best baby and kids brands
  • Uncommon — Uncommon is about providing with that juicy, tender, and delicious meat they love but without harming their health, planet, and animals. Using state-of-the-art cell culture techniques, a small sample of cells from an animal will be expanded by feeding these cells a rich and animal-free growth media. When these cells have grown we can then usedifferent methods in order to form the desired meat product. Their technologies focus on the end-to-end solution and innovating in bioprocess engineering, biomaterials, and in-process monitoring.HigherSteaks was founded in 2017 and is headquartered in London, England, United Kingdom.
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George Godula
Angel · Shanghai, Shanghai, China · 1 investments in Hong Kong Retail startups

Cross-border angel / early stage investor with portfolio of 40+ startup companies and as of currently 4 exits, 4 unicorns & counting.George invests in companies helping people lead a longer, healthier and happier life - keywords sustainability, ESG, impact investing. In addition to investing he likes to be hands-on in hisportfoliocompanies, either helping China / SEA based teams to internationalize or global teams to break into China / SEA or support them in outsourcing, sourcing and manufacturing. Typically angel, seed and occasional Series A stage investments. Industry focus and selected startups in his portfolio: - E-Commerce e.g. Web2Asia, Grana, Mercato - SaaS e.g. Jimdo, Blush, Anduin Transactions - Marketplaces / crowdfunding Republic.co - Education / Training e.g. Vantage Point, Dexter, - IoT e.g. Mila, Cafe-X, Lyte charging, The Light Phone, Density.io - Fitness e.g. FitXR, Trainersvault, Overhand Fitness, Salut, Guavapass (exit via sale to ClassPass) - Health / Nutrition e.g. NutriSense, Blue Mesa Health (exit via sale to Virgin), Compass Therapeutics (exit via IPO) - Insurtech e.g. The Care Voice - Medtech / Biotech e.g. Life Biosciences, Sequencing.com, MycoWorks - Sustainability / Infrastructure e.g. Blokable, U.S. Bitcoin Corp, Hardt Hyperloop - Deep tech / frontier tech e.g. Rain Neuromorphics, ZaiNar, Massive, Protocol Labs (Filecoin) - On-demand / sharing economy e.g. Yassir, Truck it in, misterbnb, Delivery Hero Austria & China (exit via sale / IPO)

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Investment focus

  • Industry: Health Care, Information Technology, Mobile
  • Stage:Seed, Series A, Series B
  • Geography: United States, China, France

Investor stats

  • Total investments: 49
  • Round size: Seed $1.3M–$11M; Series A $6.3M–$49M; Series B $12M–$150M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Mila Cares — Mila is the best smart air purifier for home use. Award-winning design, quieter performance, and powerful clean air for every room.
  • Yassir — Access on-demand daily services like ride-hailing, food and grocery delivery, and payments with Yassir, your super app.
  • Truck It In — is a platform tech company focused on simplifying road freight for 3.3M+ businesses in Pakistan to unlock 1 Billion dollars in resource potential
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Songhe Capital
VC Fund · 1 investments in Hong Kong Retail startups

Songhe Capital is an investment firm.

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Investment focus

  • Industry: Manufacturing, Medical, Software
  • Stage:Seed, Series A, Series C
  • Geography: China

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Zhizi Chip — Zhizi Chip is a high-performance operator auto-discovery and optimization platform dedicated to redefining the limits of computational efficiency. The platform leverages advanced algorithms and intelligent automation to identify, analyze, and optimize computational operators across diverse hardware and software environments.
  • BaoChain Intelligence — BaoChain Intelligence is a high-precision software system developer and manufacturer dedicated to 3D intelligent vision.
  • CellGenes Biotechnology — Guangzhou Cellgenes Biotechnology Co., Ltd., is a private, innovative biotechnology company that focuses on advanced medical‑health technologies, biopharmaceutical development, and the industrialization of scientific‑research findings, especially in cell and gene therapy/regenerative medicine and stem‑cell‑based applications.
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Frees Fund
VC Fund · Beijing, Beijing, China · 1 investments in Hong Kong Retail startups

By adopting revolutionary mechanisms, FREES FUND is devoted to change the long-established rules in the venture capital. By leveraging the cutting-edge technologies and resources, FREES FUND aims at investing in great startups and helping them grow into great enterprises that are valuable to our society. We mainly invest in early-stagestartups, and hope to become their first-round institutional investor. Our primary interested areas are broad-sense TMT (Technology, Media, Telecom), B2B and deep technology.

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Investment focus

  • Industry: Artificial Intelligence, Health Care, Biotechnology
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 243
  • Round size: Seed $1.4M–$14M; Angel $447k–$10M; Series A $1.6M–$28M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $144M in 2015

Portfolio highlights

  • Chuguang 3D — Chuguang 3D is a optical micro-nano 3D sensor technology platform that focuses on research and development, and manufacturing of micro-nano-level optical three-dimensional sensing and measurement and testing instruments.
  • Flysound — Flysound is a hearing technology company focused on making advanced AI-powered hearing aids affordable and accessible. Its products combine AI sound processing, Bluetooth connectivity, app-based personalization, and rechargeable convenience. With a focus on innovation, quality, and user-friendly design, Flysound aims to help people hear moreclearly and stay connected to everyday life.
  • Yanming Biology — Pyrotech pharmaceuticals is a biotechnology company that focuses om development for drugs for the treatment of inflammation and tumors.
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Transcend Capital Partners
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups

Transcend Capital Partners is a venture capital fund that strategically specializes in the investment of early-stage, women-led startups in Asia

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Investment focus

  • Industry: Software, Artificial Intelligence, Apps
  • Stage:Series A, Seed
  • Geography: Hong Kong, United States

Investor stats

  • Total investments: 7
  • Round size: Seed $5M–$5.3M; Series A $2.5M–$19M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Markato — Markato offers an all-in-one online wholesale platform for businesses and stores in Asia to source from hundreds of premium, independent brands from the United States, Europe, and Australia.
  • SleekFlow — SleekFlow makes customer messaging apps such as WhatsApp and Facebook connected to one platform for teams to better support and engage customers.
  • Yeti Confetti Kids — Yeti Confetti Kids is the ultimate educational app that sparks creativity, learning, and endless fun for young minds. Sign up for an invite and get early access.
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Qingshuiwan Phase II Fund
VC Fund · 1 investments in Hong Kong Retail startups

Qingshuiwan Phase II Fund is a venture capital company that invests in up and coming industries.

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Investment focus

  • Industry: Retail, Fitness, Wearables
  • Stage:Angel
  • Geography: Hong Kong

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • RheoFit — RheoFit is a wellness technology firm offering AI-powered smart massagers for muscle recovery and full-body relaxation.
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Tim Rath
Angel · Singapore, Central Region, Singapore · 1 investments in Hong Kong Retail startups

Tim Rath

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Investment focus

  • Industry: Fashion, E-Commerce, Retail
  • Stage:Seed
  • Geography: Hong Kong, Singapore, The Netherlands

Investor stats

  • Total investments: 3
  • Round size: Seed $850k–$1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Lepaya — Lepaya boosts employee development with Power Skills training. Join the learning curve of a lifetime. Look at our Tracks!
  • Retykle — Buy & sell new and second hand designer children's clothing at up to 90% off. Shop today for great discounts on clothes, shoes and accessories from over 2000+ of the best baby and kids brands
  • Pixibo — Fashion's most accurate size recommendation solution
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Namita Thapar
Angel · Pune, Maharashtra, India · 1 investments in Hong Kong Retail startups

Namita Thapar is an Executive Director at Emcure Pharmaceuticals. She previously worked as a senior manager at Abbott. She attended Duke University's Fuqua School of Business.

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Investment focus

  • Industry: Food and Beverage, E-Commerce, Retail
  • Stage:Seed, Angel
  • Geography: India, Hong Kong

Investor stats

  • Total investments: 72
  • Round size: Seed $60k–$1.2M; Angel $48k–$277k
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Artociti — Artociti is an Indian e-commerce company specializing in premium handmade wall art, sculptures, and home decor.
  • MeMeraki — MeMeraki is India first culture-tech platform using technology to empower the artisan creator economy and shopping and retail and fashion.
  • Bonkers Corner — It’s right there, in the name. It’s the kinda crazy that makes you feel comfortable. Based in Mumbai, Bonkers Corner is a home-grown online brand that serves as your exclusive source of streetwear fashion solely made in India. Our signature aesthetic stems from the dire need to stand out from the rest. Crazy balanced by comfort & chic. Ourbrand ultimately forces you to be your best-dressed version while being able to do so at the most affordable prices. Staying offbeat, reinventing your style as your heart’s desire is now right at your fingertips.Deriving inspiration from varied genres of art, music, movies, gaming, pop culture, and more, Bonkers Corner now serves as the epitome of fashion, culture, and lifestyle, by playing host to the widest array of merchandise, of various interpretations. Commenced with a vision of manufacturing streetwear worth every penny, the brand offers an extensive assortment of oversized tees, joggers, sweatshirts & hoodies, Co-Ord Sets and so much more to both men and women, often coming out with unisex collections as well. We also have our latest Pop Culture Collection from Disney™ and Marvel™. Launching a new collection every other month is our way of keeping our customers entertained, excited, and on their feet. The anticipation of new prints, and new styles keeps the monotony at bay.Starting in 2020, the brand benefited greatly, when e-commerce businesses were skyrocketing. Having an online store was therefore not only necessary but also inevitable. Straight after its onset, the brand initiated a crowd favorite trend- The Oversized Tee, making it mainstream, creating popular demand, and as a result, it was adopted by various other brands in recent times.Known for its complete convenience under one roof, the brand’s online portal is an experience in itself. Consumers can view their favorite collections, search for a specific piece, at great convenience using the user-friendly interface. Comprehensive size charts, detailed product information, and high-resolution images add value to our consumers’ buying decisions.Bonkers Corner makes you believe that ordinary was never a choice. Eccentricity at its core, everything our brand offers is unique, and never done before. The world is your ramp, and every day can be different. Be true to your style & look effortless while doing so. Crazy never knew no limits.
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Kunal Bahl
Angel · New Delhi, Delhi, India · 1 investments in Hong Kong Retail startups, 11 in the past 12 months

Kunal Bahl is based out of Delhi and is the Co-Founder of AceVector. Kunal Bahl attended the University of Pennsylvania.

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Investment focus

  • Industry: Software, E-Commerce, Internet
  • Stage:Seed, Series A, Pre-Seed
  • Geography: India, United States, Singapore

Investor stats

  • Total investments: 232
  • Round size: Seed $300k–$5.3M; Pre-Seed $280k–$5M; Series A $2.8M–$17M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Laani — Laani is a modern body care brand creating high-performance products for Indian women. Discover products that keep you feeling fresh, confident, and comfortable all day.
  • MeMeraki — MeMeraki is India first culture-tech platform using technology to empower the artisan creator economy and shopping and retail and fashion.
  • PRUF — Pruf is an India-focused, science-led skincare brand. The brand develops evidence-based products—initially targeting hyperpigmentation—with an emphasis on transparent formulations, testing, and clinical validation.
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Lightspeed Venture Partners
VC Fund · Menlo Park, California, United States · 1 investments in Hong Kong Retail startups

Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: United States, India, Israel

Investor stats

  • Total investments: 2426
  • Round size: Seed $2M–$26M; Series A $7M–$85M; Series B $15M–$125M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely actively investing — fresh fund, raised $600M in 2025

Portfolio highlights

  • Tennr — Tennr is a custom AI assistant that accelerates research, answers complex questions, and generates custom reports.
  • Whizzo — Whizzo specializes in materials science-driven manufacturing of engineered fashion and technical textiles. Our expertise lies in creating and executing innovative textile blends tailored for applications across automotive, agriculture, medical textiles, and engineered fashion.
  • ElevenLabs — Create lifelike speech with our AI voice generator and voice agents platform. Access 5,000+ voices in 70+ languages with secure APIs and SDKs.
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AlteriQ Global
VC Fund · Singapore, Central Region, Singapore · 1 investments in Hong Kong Retail startups

AlteriQ Global is an Asia-focused private credit platform committed to unlocking value and empowering growth

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Investment focus

  • Industry: Software, Messaging, Mobile Apps
  • Stage:Debt Financing, Seed, Series A
  • Geography: United Kingdom, Thailand, Hong Kong

Investor stats

  • Total investments: 6
  • Round size: Debt Financing $5M–$15M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Choco Up — Asia's #1 revenue-based financing and growth platform. Get up to USD10M with no equity dilution. Apply in minutes and get funded within 48 hours.
  • Amity Corporation — Discover Amity, where we create digital solutions that help organizations, teams and individuals achieve more through technology and social innovation.
  • Amity Robotics — Amity Robotics is focused on redefining customer-facing experiences with AI-powered digital human solutions. Amity Roboticsspecialize in delivering GenAI-powered robotic platforms —that seamlessly combine advanced AI with integrated hardware solutions. From retail and hospitality to healthcare and airports, our goal is to empower businesses toelevate customer engagement through smarter, more efficient, and human-like digital interactions.
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Fortune Capital
VC Fund · Coral Gables, Florida, United States · 1 investments in Hong Kong Retail startups

Fortune Capital is a financial firm that concentrates on property transactions and investing.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 41
  • Round size: Series A $3M–$44M; Series B $14M–$31M; Series C $100M–$563M
  • Lead/follow: 49% lead, 51% follow

Portfolio highlights

  • VAST — VAST is an artificial intelligence business that develops and manufactures general-purpose 3D big models. Its goal is to develop a popular 3D content production tool, a 3D user-generated content platform, and utilize 3D space to enhance user experience.
  • Jinsheng New Energy — Jinsheng New Energy is a lithium battery recycling solution provider.
  • Atom Bioscience & Pharmaceutical — Atom Bioscience is a clinical-stage biotechnology company developing new treatments for inflammatory and metabolic diseases such as chronic gout and non-alcoholic steatohepatitis.
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Battery Road Digital Holdings
VC Fund · Mumbai, Maharashtra, India · 1 investments in Hong Kong Retail startups

Battery Road Digital Holdings is a venture capital and private equity firm that focuses on frontier and emerging markets.

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Investment focus

  • Industry: E-Commerce, Transportation, Payments
  • Stage:Seed, Series A, Series B
  • Geography: Egypt, Singapore, India

Investor stats

  • Total investments: 20
  • Round size: Seed $200k–$3M; Series A $4.4M–$10M; Series B $10M–$24M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • zypl.ai — We help financial institutions, government entities make more accurate decisions
  • AwanTunai — AwanTunai seek to reinforce Indonesian needs and productivity by providing digital loan for a better financial freedom and capability to micro-entrepreneurs
  • IMAN — IMAN is a full-stack halal finance solution for merchants, shoppers, and investors.
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Pine Venture Partners
VC Fund · Singapore, Central Region, Singapore · 1 investments in Hong Kong Retail startups

At Pine Capital Management, we drive a sustainable future through strategic investments in innovative companies. With a focus on sustainability, we seek groundbreaking ventures delivering financial returns and positive impact. We support startups pioneering solutions to global challenges like climate change, resource scarcity, and social inequality. Through funding, mentorship, and strategic guidance, we empower these visionaries to scale their businesses globally.

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Investment focus

  • Industry: Apps, Software, Health Care
  • Stage:Series B, Seed, Series A
  • Geography: Singapore, China, Hong Kong

Investor stats

  • Total investments: 8
  • Round size: Series A $3.7M–$15M; Series B $15M–$47M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • ZumVet — ZumVet provides access to affordable and convenient veterinary care through video calls and medication delivery. They are passionate about animals and want them to get the best possible care by offering video consults, referrals, home visits, and emergency services. It was incorporated in 2019 and is based in Singapore.
  • Retykle — Buy & sell new and second hand designer children's clothing at up to 90% off. Shop today for great discounts on clothes, shoes and accessories from over 2000+ of the best baby and kids brands
  • Alchemy Foodtech — Want to reduce sugar in your drinks or bakes, or offer healthier carbs to your customers but don't know how? Alchemy Fibre and SweetFibre solutions are here to help.
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DST Global
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 1 investments in Hong Kong Retail startups, 28 in the past 12 months

DST Global is an investment firm that focuses on late-stage ventures in the Internet sector. The firm has invested in several rapidly growing companies. Its offices are in Menlo Park, New York, London, Beijing, and Hong Kong. The firm was founded in 2009 by Yuri Milner, Saurabh Gupta, John Lindfors, Rahul Mehta, and Tom Stafford.

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Investment focus

  • Industry: FinTech, E-Commerce, Financial Services
  • Stage:Series B, Series A, Series C
  • Geography: United States, China, India

Investor stats

  • Total investments: 347
  • Round size: Series A $10M–$76M; Series B $20M–$180M; Series C $35M–$450M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Conveo — Capture and analyze human conversations at scale. Get the nuance and context surveys miss, delivered at the speed your team needs.
  • Clay — Clay's spreadsheet helps you find, enrich and act on people and company data from any source - without a line of code. Get started for free, today.
  • Partly — Auto parts distributors, manufacturers, dismantlers, marketplaces and software providers use Partly's software and API to add fitment and manage parts online.
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Retail Investor funding in Hong Kong at a glance

Stats across 47 deals from 63 investors.

63
investors
in Hong Kong Retail startups
47
deals
in Hong Kong Retail startups
$6.5M
median round
in Hong Kong Retail startups
35%
lead investors
lead at least one round
34%
Seed
most common funding stage
86/14
VC / Angel
share of investor count

Access all 63 investors in Hong Kong Retail startups.

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