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Top 50 Sporting Goods VC Funds & Investors in China (September 2026)

The most active venture capital funds investing in China Sporting Goods startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Sporting Goods startup companies. Find investors to raise a Seed, Series A or Angel round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Eagles Fund
VC Fund
3 China, Hong Kong, United States Angel, Series A, Seed Information Technology, Media and Entertainment, Internet $85k–$4.3M
Ceyuan Ventures
VC Fund
2 China, United States, Singapore Series A, Series B, Angel Internet, Software, E-Commerce $425k–$30M
Lianshi Touzi
VC Fund
1 China Angel, Seed, Series A SaaS, Hotel, Retail $468k–$475k
Wanghui Capital
VC Fund
1 China Seed, Series D Sports, Internet, E-Commerce $87k–$1.5M
Taoli Ventures
VC Fund
1 China Angel, Series A, Series B Gaming, Hardware, Virtual Reality $145k–$3.2M
Fujian Sheng Chuangxin Touzi
VC Fund
1 China Series A, Series E, Post-IPO Equity Apps, Sports, Medical $1.4M–$1.5M
Xidihui Zichan
VC Fund
1 China Series A, Series B Apps, Gaming, Mobile $1.4M–$1.5M
Bole Zongheng
VC Fund
1 China Series A, Angel, Post-IPO Equity Art, ISP, Tea $425k–$2.9M
Dazi County Jinhui Investment Management
VC Fund
1 China Angel Internet, Education, Sporting Goods
PURPLE KEY
VC Fund
1 China Series A Gaming, Internet, Analytics $1.5M–$4.2M
Ameba Capital
VC Fund
1 China, United States, India Angel, Series A, Seed Software, Information Technology, E-Commerce $425k–$23M
Dahe Ventures
VC Fund
1 China Angel, Series A, Series B Information Technology, Apps, Education $425k–$10M
Prox Ventures
VC Fund
1 China, United States, United Kingdom Seed, Series A Medical, Biotechnology, Health Care $2.5M–$28M
Zehou Touzi
VC Fund
1 China Angel, Seed, Series A Legal, Fashion, E-Commerce $425k–$463k
The Linhui Fund
VC Fund
1 China Angel, Series A, Seed Health Care, Medical, Manufacturing $142k–$4.4M
Beiruan Angle
VC Fund
1 China Series A, Angel, Seed Information Technology, E-Commerce, Medical $68k–$2.8M
GSR United Capital
VC Fund
1 China, United States, Singapore Series A, Series B, Seed Manufacturing, Robotics, Automotive $450k–$50M
Haiyi Investment
VC Fund
1 China, Hong Kong Angel, Seed Manufacturing, Robotics, Electric Vehicle $1.4M–$15M
Baozun Commerce
VC Fund
1 China Series A, Angel, Post-IPO Equity Fashion, E-Commerce, Sales
Wedo Capital
VC Fund
1 China Seed, Angel, Series A Manufacturing, Legal, Sales $146k–$16M
Jinding Capital
VC Fund
1 China Series A, Seed, Series B Manufacturing, Health Care, Robotics $1.4M–$62M
Redstone Capital
VC Fund
1 China Series A, Series B Mobile, Medical, E-Commerce $2.7M–$10M
Dark Horse Ventures
VC Fund
1 China, Mexico Angel, Series A, Seed Software, Information Technology, Education $287k–$11M
Shenzhen Capital Group
VC Fund
1 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
ZTE Venture Capital Fund Management
VC Fund
1 China Series A, Angel, Venture - Series Unknown E-Commerce, Industrial, Manufacturing $1.5M–$11M
Ningbo Angel Capital Guiding Fund
VC Fund
1 China Angel, Series A, Seed Hardware, Manufacturing, Medical $142k–$15M
Hammer Capital Management
VC Fund
1 China Series A, Series B Mobile, Big Data, Hardware
Huading Touzi
VC Fund
1 China Angel, Series C Big Data, Software, E-Commerce
SPRIGHT
VC Fund
1 China Angel, Series A, Post-IPO Equity Drones, Retail, Sports
Zero Capital
VC Fund
1 China Angel Retail, Tennis, Robotics
KAIYUNTOUZI
VC Fund
1 China Angel Sporting Goods, Event Management, Media and Entertainment
Plum Ventures
VC Fund
1 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $436k–$38M
Thunderstorm VC
VC Fund
1 China Angel, Series A, Seed Software, Video, Hardware $139k–$4.3M
BW Ventures
VC Fund
1 China Angel, Seed, Series A Software, Apps, Social $142k–$4M
ShareLink Capital
VC Fund
1 China, The Netherlands Series A, Angel, Seed Manufacturing, Hardware, Software $425k–$16M
Innoangel Fund
VC Fund
1 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$29M
Cenova
VC Fund
1 China, United States, Hong Kong Series B, Series A, Series C Medical, Health Care, Biotechnology $2.8M–$100M
NextView Capital
VC Fund
1 China, United Kingdom Series A, Series B, Post-IPO Equity Robotics, Education, E-Commerce $1.4M–$2.8M
Toread Holdings Group
VC Fund
1 China Series A, Seed, Angel Sports, Outdoors, Aerospace
China Capital Investment Group
VC Fund
1 China, Thailand, Hong Kong Angel, Series C, Series A Health Care, Education, E-Commerce $425k–$145M
IDG Capital
VC Fund
1 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce $2.9M–$354M
China Equity
VC Fund
1 China, United States, Canada Series A, Series B, Series C Software, Information Technology, Health Care $1.4M–$162M
Blackbirdsport
VC Fund
1 China Series A Sports, Hardware, Sporting Goods
Buhuo Ventures
VC Fund
1 China Series A, Angel, Seed Food and Beverage, E-Commerce, B2B $140k–$16M
Share Capital
VC Fund
1 China, United States, Colombia Series A, Series B, Seed Health Care, Medical, Biotechnology $142k–$93M
Henggu Touzi
VC Fund
1 China Angel E-Commerce, Consumer Goods, Sporting Goods
Ricebank
VC Fund
1 China Angel, Series A Electric Vehicle, Travel, Hardware $142k–$10M
Variable Capital
VC Fund
1 China Angel Retail, Tennis, Robotics
FineWill Capital
VC Fund
1 China, Germany, United Arab Emirates Angel, Seed Gaming, Training, Education $426k–$7.7M
PreAngel
VC Fund
1 China, United States, Switzerland Angel, Seed, Series A Internet, Software, Blockchain
Access all 72 VC funds in China Sporting Goods startups.

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

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Investor list

Eagles Fund
VC Fund · Beijing, Beijing, China · 3 investments in China Sporting Goods startups

Eagles Fund is a diversified angel fund and family fund.

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Investment focus

  • Industry: Information Technology, Media and Entertainment, Internet
  • Stage:Angel, Series A, Seed
  • Geography: China, Hong Kong, United States

Investor stats

  • Total investments: 81
  • Round size: Seed $85k–$2.8M; Angel $425k–$1.4M; Series A $463k–$4.3M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Leading Pet — Leading Pet is a pet services company that specializes in pet travel ecosystem solutions.
  • Luquos Energy — To bridge intermittent renewable power and energy demands with sustainable solutions
  • Xinglan Zhiyuan — Xinglan Zhiyuan is a provider specializing in artificial intelligence data solutions, offering end-to-end services such as data collection, data annotation, data processing, and quality assurance to support the training, evaluation, and deployment of advanced AI models across multiple industries.
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Ceyuan Ventures
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 2 investments in China Sporting Goods startups

Ceyuan Ventures is a Beijing-based early stage venture capital firm focused on IT and emerging growth companies. They emphasize backing great teams, technology and business innovation. Their mission is to assist entrepreneurs in creating and building world-class businesses.

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Investment focus

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

Investor stats

  • Total investments: 108
  • Round size: Angel $425k–$3M; Series A $1M–$22M; Series B $2.8M–$30M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $282M in 2012

Portfolio highlights

  • OKX — OKX is the second largest global crypto exchange by trading volume and a leading Web3 ecosystem. With monthly Proof of Reserve releases, OKX is trusted by over 50 million global users. OKX is the fastest and most reliable crypto trading app for professional traders everywhere. - Buy, sell, and trade 350+ tokens with 100+ local currencies -Duplicate moves from top traders in the industry in just one click - Explore Web3 and take control of your crypto, NFTs, and digital assets with the OKX WalletWith its extensive range of crypto products and services, and unwavering commitment to innovation, OKX’s vision is a world where financial access is backed by blockchain and the power of decentralized finance.
  • Siyue Intelligence — Siyue Intelligence produces software and hardware for TFT-LCD semiconductor automation. It integrates R&D, design, production, and service, and is committed to providing fully automated warehousing robot systems, and intelligent detection.
  • Vistar Optoelectronics — Vistar Optoelectronics is a provider of micro-LED displays that focuses on the research, development, and product implementation of micro-LED.
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Lianshi Touzi
VC Fund · Dalian Shi, Liaoning, China · 1 investments in China Sporting Goods startups

Lianshi Touzi focuses on the investment of emerging industries.

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Investment focus

  • Industry: SaaS, Hotel, Retail
  • Stage:Angel, Seed, Series A
  • Geography: China

Investor stats

  • Total investments: 4
  • Round size: Angel $468k–$475k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • ChicChek — ChicChek is a research and development company for the internet of things and digital marketing technology. They provide new retail and marketing solutions for targeted crowds in hotel scenarios, maternal and child scenarios, and pet scenarios.
  • Youhujia — Youhujia is an inclusive health insurance platform driven by medical and health big data and AI technology. They provide cloud computing solutions for medical care institutions, insurance companies, and government departments. It applies technologies such as big data, cloud computing, artificial intelligence, the internet of things, and blockchainto transform the industry value chain.
  • Long Sports — Long Sports provides sporting event ticketing and marketing services.
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Wanghui Capital
VC Fund · 1 investments in China Sporting Goods startups

Wanghui Capital

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Investment focus

  • Industry: Sports, Internet, E-Commerce
  • Stage:Seed, Series D
  • Geography: China

Investor stats

  • Total investments: 3
  • Round size: Seed $87k–$1.5M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Soodii.com — Soodii.com is an internet company. They engaged in the realization of self-media one-stop light e-commerce that makes self-media stable profits, empowers big data, and makes profit models ecological.
  • Fitness Union — Shanghai Based Sports Start Up.
  • Laekna Therapeutics — Laekna Therapeutics is a startup biotech company focusing on innovative drug discovery and development. Targeting large unmet medical needs, Laekna is dedicated to developing new therapies for cancer and liver diseases.
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Taoli Ventures
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Taoli Ventures is committed to discovering and investing in startups.

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Investment focus

  • Industry: Gaming, Hardware, Virtual Reality
  • Stage:Angel, Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 11
  • Round size: Angel $145k–$459k; Series A $436k–$2.9M; Series B $2.9M–$3.2M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Hunlimao — Hunlimao is a wedding planning platform. With the O2O online-to-offline business model, the company provides wedding banquet booking, wedding planning, photography services, and other services. Hunlimao also offers free wedding features such as WeChat photo albums, fashion and beauty, and personalizing the wedding.
  • Yizhi Yu — Yizhi Yu is engaged in the field of cultural communication services with a focus on details and a demand for perfection. They create the pan-entertainment, new media, and e-commerce platform zongyu that integrates artist management, performance management, entertainment marketing, the fan economy, and more.
  • Xunguang Youxi — Xunguang Youxi provides operation, Web application development, software development, big data analysis, mobile Internet communication technology, cloud computing, marketing, and promotion. They provide technological research and development, and innovation, grasp the needs of the internet industry, and use internet core technologies.
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Fujian Sheng Chuangxin Touzi
VC Fund · Fuzhou, Jiangxi, China · 1 investments in China Sporting Goods startups

Fujian Sheng Chuangxin Touzi specializes in venture capital investment business.

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Investment focus

  • Industry: Apps, Sports, Medical
  • Stage:Series A, Series E, Post-IPO Equity
  • Geography: China

Investor stats

  • Total investments: 4
  • Round size: Series A $1.4M–$1.5M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Suer Hudong — Suer Hudong is a sports equipment shopping guide and product evaluation services app.
  • Haijing Yun Pingtai — Haijing Yun Pingtai is a developer face detection and recognition technology.
  • Strait Human Resources — Strait Human Resources offers human resources support for the all-round promotion of development and transcendence. They provide employment, employee benefits, and financial services around labor dispatch and human resource outsourcing.
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Xidihui Zichan
VC Fund · Xiamen, Fujian, China · 1 investments in China Sporting Goods startups

Xidihui Zichan is an investment and asset management firm.

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Investment focus

  • Industry: Apps, Gaming, Mobile
  • Stage:Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 4
  • Round size: Series A $1.4M–$1.5M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Juooo — Juooo is a ticket transaction service provider.
  • Suer Hudong — Suer Hudong is a sports equipment shopping guide and product evaluation services app.
  • Youdong.com — Youdong.com is a mobile game development and operating company.
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Bole Zongheng
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

Bole Zongheng is a private equity investment firm.

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Investment focus

  • Industry: Art, ISP, Tea
  • Stage:Series A, Angel, Post-IPO Equity
  • Geography: China

Investor stats

  • Total investments: 8
  • Round size: Angel $425k–$457k; Series A $1.5M–$2.9M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Qu He Cha — Qu He Cha is a tea and related products company.
  • iweicang.com — iweicang.com is a platform that integrates art appreciation, collection appraisal, cultural exchanges and art sales.
  • Corp.imsa.org.cn — Corp.imsa.org.cn is a sporting goods company that provides internet and mobile products for the chess industry.
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Dazi County Jinhui Investment Management
VC Fund · 1 investments in China Sporting Goods startups

Dazi County Jinhui Investment Management is engaged in investment management, investment consulting.

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Investment focus

  • Industry: Internet, Education, Sporting Goods
  • Stage:Angel
  • Geography: China

Investor stats

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

Portfolio highlights

  • Corp.imsa.org.cn — Corp.imsa.org.cn is a sporting goods company that provides internet and mobile products for the chess industry.
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PURPLE KEY
VC Fund · Xuhui, Shanghai, China · 1 investments in China Sporting Goods startups

PURPLE KEY is engaged in the mobile gaming business.

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Investment focus

  • Industry: Gaming, Internet, Analytics
  • Stage:Series A
  • Geography: China

Investor stats

  • Total investments: 2
  • Round size: Series A $1.5M–$4.2M
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • VPGame — VPGame is a multi-purpose esports service platform that provides match-making, big data analysis and eSports community engagement services.
  • Wishstart — Wishstart is a development company for Internet game products and platform construction. They are an online game company that integrates game development, promotion, and operation.
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Access 48,091 investors

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

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Ameba Capital
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Ameba Capital is a Chinese venture capital firm that provides early and growth stage investments. Ameba Capital makes investments in the telecommunications, media, and technology industries, focusing on SaaS, AI, Digital Transformation and other disruptive technologies.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Angel, Series A, Seed
  • Geography: China, United States, India

Investor stats

  • Total investments: 84
  • Round size: Seed $1.4M–$23M; Angel $425k–$1.4M; Series A $1.4M–$20M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $265M in 2021

Portfolio highlights

  • Bose Quantum — Bose Quantum has the patent layout and core technology of quantum computing technology comparable to that of the United States. The scientific research achievements in the field of quantum computing are currently the only solution with short-term commercialization feasibility in the world, creating a new generation of quantum computing poweracceleration for artificial intelligence. Artificial intelligence co-processing equipment to achieve megabit ultra-large-scale quantum computing. The Bose Quantum team has completed the CIM engineering prototype verification of 1000+ qubits abroad, and has stably running some accelerated algorithms. The technical advantages of Bose Quantum are reflected in the fact that the CIM technology solution adopted is the most advanced second-generation optical quantum computing technology, which is the most advanced quantum computing technology route in the three major mainstream scalable quantum computing technology routes of superconductivity, ion trap and optical quantum. The largest technical solution.
  • Huamei Haolian — Huamei Haolian specializes in providing telemedicine and medical tourism services.
  • Artificial Productivity — Artificial Productivity is a technology company that specializes in computer system services.
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Dahe Ventures
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Dahe Ventures is an investment management company focused on private equity investment.

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Investment focus

  • Industry: Information Technology, Apps, Education
  • Stage:Angel, Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 15
  • Round size: Angel $425k–$2.2M; Series A $1.4M–$10M; Series B $3M–$3.1M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Gsubo — Gsubo offers a high-speed cloud platform that provides solutions for various industries.
  • Dayu Yunfu — Dayu Yunfu provides a professional after-sales service management system.
  • Pencil Road — Pencil Road is an enterprise service platform covering business information, brand marketing, investment and financing services,etc
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Prox Ventures
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Proxima Ventures focuses in the healthcare industry, supporting outstanding enterprises with innovative technologies or service models that have tremendous potential.They manage multiple funds in RMB and US dollar, covering from seed to growth stages. Their team members with multidisciplinary backgrounds and resourceful networks, have many yearsof remarkable venture capital experience and achievements. They believe that active and effective collaboration with entrepreneurs will make substantial economic returns while bring meaningful improvements in public health.

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Investment focus

  • Industry: Medical, Biotechnology, Health Care
  • Stage:Seed, Series A
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 82
  • Round size: Seed $2.5M–$14M; Series A $3M–$28M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Shengxin Medical — Shengxin Medical is a cardiovascular interventional medical device developer, dedicated to creating innovative, high-quality solutions that improve the diagnosis, treatment, and management of cardiovascular diseases, while advancing minimally invasive medical technologies to enhance patient outcomes and clinical efficiency.
  • Bluesail Surgical — Bluesail Surgical is a surgical device company that specializes in the development of innovative surgical instruments for cardiovascular and cerebrovascular treatments.
  • Kingsung Medical Group — Kingsung Medical Group operates under the Mission “Simplify Surgery, Beautiful Life,” with its innovation centered on four core technology platforms at its Tianjin base: Mechanical Design, Polymer Materials, Biodegradable Magnesium Alloys, and Collagen Biomaterials. These platforms have enabled the development of pioneering medical devices,including microvascular anastomosis devices and neural tube. In particular, the Group’s biodegradable magnesium alloy technology is spearheading the advancement of next-generation orthopedic implants. Kingsung’s technological capabilities are evidenced by a portfolio of over 190 patents and its recognition as a National Key Enterprise. The Group also actively contributes to the industry as a standing council member of the Microsurgery Branch of the China Association of Medical Devices Industry and a member of the Chinese Society for Biomaterials.
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Zehou Touzi
VC Fund · Jiading, Shanghai, China · 1 investments in China Sporting Goods startups

Zehou Touzi is an investment firm.

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Investment focus

  • Industry: Legal, Fashion, E-Commerce
  • Stage:Angel, Seed, Series A
  • Geography: China

Investor stats

  • Total investments: 8
  • Round size: Angel $425k–$463k
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • MINDSGO — MINDSGO is a neuroimaging-omics technology that provides medical image precision analysis services to the medical and health industries. It aspires to be the provider of medical image precision analysis technology solutions, as the domestic leader in medical technology transformation. They are a company that uses neuroimaging omics technology toprovide services for brain research and disease prediction, auxiliary diagnosis, and treatment rehabilitation.
  • UBITRAQ — UBITRAQ is a UWB indoor positioning technology that introduces a new category of UWB-AOA single base station positioning while lowering the order of magnitude. The products cover many application scenarios at the B-end and C-end and can be used in many fields such as industry, agriculture, commerce, elderly care, technology, justice, andconstruction.
  • bimart.cn — bimart.cn is a financial technology company that focuses on commercial credit pricing and circulation.
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The Linhui Fund
VC Fund · Changning, Shanghai, China · 1 investments in China Sporting Goods startups

The Linhui Fund is an equity investment and angel investment firm.

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Investment focus

  • Industry: Health Care, Medical, Manufacturing
  • Stage:Angel, Series A, Seed
  • Geography: China

Investor stats

  • Total investments: 22
  • Round size: Angel $142k–$435k; Series A $1.4M–$4.4M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Juntong Future — Juntong Future is an artificial intelligence and digital intelligence security service provider that focuses on the governance and compliance challenges of artificial intelligence itself
  • Water bear sensing — Water Bear Sensing is a cutting-edge sensor company focused on high-precision encoders for humanoid robots. It provides feedback on joint positions, movement, and orientation, allowing robots to mimic human motion and interactions effectively.
  • Yitong Cloud Network Technology — Yitong Cloud Network Technology specializes in the fields of e-commerce, smart agriculture, and agricultural specialty products industry chain. The company also offers a cloud service platform for branded agricultural products with data. It has built a one-body and two-wing development strategy with digital agricultural smart cloud platformoperation services.
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Beiruan Angle
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

Beiruan Angle is a professional angel investment institution.

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Investment focus

  • Industry: Information Technology, E-Commerce, Medical
  • Stage:Series A, Angel, Seed
  • Geography: China

Investor stats

  • Total investments: 10
  • Round size: Angel $68k–$1.1M; Series A $226k–$2.8M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Gsubo — Gsubo offers a high-speed cloud platform that provides solutions for various industries.
  • R2TECK — R2TECK is engaged in the research and development of UHD digital image transmission equipment.
  • WiseWash — WiseWash is a laundry information management system.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

"Founded in 2009, GSR United Capital focuses on equity investment in high-tech industries, focusing on investment and M&A opportunities in advanced manufacturing, next-generation information technology, industrial Internet/digital enterprise services and other fields. GSR United Capital manages both RMB master funds and industrialfunds established with local governments. Since its establishment, GSR United Capital has received strong support from China's top market-oriented mother fund, government-guided fund, wealth management institutions, global 500 enterprises, listed companies and other institutions. Among them, investors with state capital background include Guochuang Yuanhe, Guochuang Kaiyuan, SDIC Unity Capital, China Merchants Venture, Suzhou Fund, Nanchang Industrial Control, Weifang Financial Holding Group, Dongguan Dongcheng, Zhangjiagang Jincheng Investment & Development Co., ltd, etc. Suzhou GSL Venture Capital Management Company, founded in 2011, is a private equity fund manager of the comprehensive fund of GSR United Capital (referred to as "" GSR United Capital ""), and completed the registration of private equity fund manager on May 20, 2014, with the serial number P1002246.""A+ stage is the main stage, the middle and late stage is the auxiliary"" The company focuses on equity investment in high-tech industry, focusing on the strategy of ""A+"" stage, with a capital allocation ratio of 60%. The project in this stage is between ""engineering"" and ""scale commercialization"", which is the ideal range of ""bargaining power"" and can win a high proportion of relative returns. At the same time, 40% of the project will be allocated in the middle and late stages. The middle and late stages refer to enterprises with IPO expectations within 2-3 years, and the investment will be completed within 60 months in the early stage of the fund investment period (exit will start in the third and fourth years), which will be used as the basic plate for anchoring returns.GSR United Capital has invested in more than 100 high-tech start-ups, including Great Wisdom Software (financial information terminal, 601519), eCARBON (high thermal conductivity graphite heat dissipation material, 603133), TZTEK (Precision, 688003), METRON (Diamond wire material, 603133) 300861), GTEP (sludge treatment and recycling, has started the board meeting), Niu (electric two-wheeler, NASDAQ: NIU), LATTICELIGHTING (LED silicon substrate technology and application), Freetech (unmanned driving), Marknum Technology (big data), xMate (light collaborative robot), TAGEIDRIVER (autonomous driving), HUIRUI (high-precision metal 3D printing), DYSO (CNC machine tool parts), NEWLINK GROUP (energy Internet), and many cross-border enterprises Industries such as LianLian (online payment), Xingyun Group (cross-border supply chain), Tec-Do (outbound brand digital marketing, Guangzhou), LAVA (smart guitar, Guangzhou), Shoplazza (outbound SaaS independent site construction tools, Guangzhou), E-ports (Internet for shipping industry), Chenhaiyun (sea-going compliance), Whalehouse.tech (intelligent warehousing), Huoyan (ABM intelligent marketing), Giiso (intelligent writing) and other excellent projects, which have won excess investment returns and social reputation. At present, the withdrawn projects include Great Wisdom Software (Financial information terminal, 601519), which has been fully withdrawn through listing, with return multiple reaching 8.96x, invested by GSR United Capital Phase I; TZTEK (Precision Measurement, 688003.STAR), fully exited through listing with return multiple reaching 2.74x, invested by GSR United Phase II and Botong Jinshi; eCARBON (high thermal conductivity graphite heat dissipation material, 603133), through the listing of all exit, return multiple reached 5x, invested by GSR United Capital Phase I Institute; METRON (Diamond Wire Materials, 300861), which was partially exited through listing with a return multiple of 4.5X and was invested by GSR United Phase III and Botong Jinshi Institute; Lebo Technology (cross-platform screen investment tool), partially exited through equity transfer, with a return multiple of 4.35x, invested by Botong Jinshi. Giiso (Intelligent Collaboration), which was partially withdrawn through equity transfer with a return multiple of 4.35x, was invested by Botong Jinshi.Zerowaste Asia Pte Ltd (ZA) was invested by Hongcheng RMB Fund, a subsidiary of GSR United Capital, in January 2017. It is committed to developing, producing and selling leading additives for heavy metal treatment. Its products have the characteristics of simple process, high efficiency, safety and environmental protection, and low cost. The company's valuation has grown from $58 million at the time of the investment to $142 million.Since February 2020, GSR United Capital has made more than 30 investments in the main fund. For example, it invested in Yuejing Technology (audio and video collaborative production tool) in February 2021, and the current multiple has reached 3.14 times. In September 2020, it invested in ZHICHUBAO.COM (procurement management SaaS platform), and the current multiple has reached 2.82 times. In April 2020, it invested in Starsee Intelligence (AI enabled military defense), and the current multiple has reached 2.81 times. Nahuo Technology Co., Ltd. received a subsequent round of investment from IDG, ZHICHUBAO.COM received a subsequent round of investment from Shunwei Capital, and Boqing Technology received a subsequent round of investment from KeyTone Ventures and Leaguer Capital."

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Investment focus

  • Industry: Manufacturing, Robotics, Automotive
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 211
  • Round size: Seed $450k–$14M; Series A $794k–$20M; Series B $789k–$50M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $69M in 2025

Portfolio highlights

  • Tec-do — 1.Tec-Do 2.0 is a leading AI martech company delivering result-centric marketing solutions for global business growth.
  • PhotoG — PhotoG is an international GenAI content marketing tool supplier. It operates in the fields of overseas content marketing and generative AI, with a focus on visual content development and e-commerce brand marketing.
  • Dewu Additive — Dewu Additive is a high-tech company at the forefront of 3D printing innovation, specializing in developing cutting-edge additive manufacturing solutions. The company focuses on creating advanced 3D printing technologies and materials for a wide range of industries, including aerospace, automotive, healthcare, and manufacturing.
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Haiyi Investment
VC Fund · 1 investments in China Sporting Goods startups

Haiyi Investment is an investment firm.

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Investment focus

  • Industry: Manufacturing, Robotics, Electric Vehicle
  • Stage:Angel, Seed
  • Geography: China, Hong Kong

Investor stats

  • Total investments: 9
  • Round size: Seed $1.4M–$15M; Angel $1.4M–$1.5M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Tezeus — Tezeus is a company that manufactures electric-assisted bicycle. Tezeus's main product is electric-assisted bicycles (eBike). In terms of product design, it self-created e-bike mid-mounted motors, electronic controllers, and other basic components, as well as independently produced e-bike systems, IoT software, and mobile apps.
  • AceiiLab — Your AI Tennis Hitting Partner - AI Tennis Robot
  • Weifan Intelligent — Weifan Intelligent is focused on the research and development of "big and small brain" integrated chips for embodied intelligence.
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Baozun Commerce
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Baozun Commerce is a provider of brand management solutions in China. It is an e-commerce service partner founded in 2007.It focuses to help brands and retailers to become successful in China. Baozun provides end-to-end services, including web site design, development and hosting, IT infrastructure, customer service, warehousing and logisticsservices as well as digital marketing solutions.Baozun Commerce connects brands and consumers in China using their local know-how and robust e-commerce supply chain technology and services. It strives to protect and enhance brands’ images online while enabling increased engagement with Chinese consumers to drive sales and profit.

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Investment focus

  • Industry: Fashion, E-Commerce, Sales
  • Stage:Series A, Angel, Post-IPO Equity
  • Geography: China

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Nobaday — NOBADAY is snow sports brand creating high quality snowboard gear, including snowboards,snowboard jackets,snowboard pants,snowboard hoodies,goggles,accessories...
  • ZHONGZHIHUI — ZHONGZHIHUI is a supply chain empowerment platform.
  • Lanvin Group — Lanvin group is a fashion industry that oversees the labels lanvin, caruso, wolford, sergio rossi, and st. John knits. It is offering this assistance along with in-depth information about and connection to the fashion markets.
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Wedo Capital
VC Fund · Wenzhou, Zhejiang, China · 1 investments in China Sporting Goods startups

Wedo Capital is an investment firm, focuses on the biomedical, energy, and intelligent manufacturing companies.

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Investment focus

  • Industry: Manufacturing, Legal, Sales
  • Stage:Seed, Angel, Series A
  • Geography: China

Investor stats

  • Total investments: 9
  • Round size: Seed $146k–$16M; Angel $463k–$709k
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • HemaCell — Xueji Bio is a new cell therapy company founded by returnee experts to regenerate hematopoietic lineages (including blood cells and immune cells) in vitro, with unique stem cell reprogramming, editing and differentiation technologies. The company's unique iPSC establishment technology and gene targeting technology can quickly establish aplatform using platelet cells as a drug delivery carrier.
  • Rongsi Semiconductor — Rongsi Semiconductor is a design developer of wide-bandgap semiconductor silicon carbide power devices.
  • Wenzhou Aerospace Power — Wenzhou Aerospace Power is a research and development manufacturer of satellite electric propulsion and engines.
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Jinding Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

Jinding Capital is a leading industrial equity investment institution in China.

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Investment focus

  • Industry: Manufacturing, Health Care, Robotics
  • Stage:Series A, Seed, Series B
  • Geography: China

Investor stats

  • Total investments: 82
  • Round size: Seed $1.4M–$42M; Series A $1.5M–$30M; Series B $14M–$62M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Himiao — Himiao is a pet industry-focused company that offers pet items. its aim to create a healthier and happier life for pets and pet lovers.
  • BuChou Quantum — BuChou Quantum’s vision is to create quantum computers with real, practical application value by pursuing deep “software–hardware synergy,” meaning they design quantum hardware and quantum software in tandem so each enhances the other, enabling more powerful, efficient, and usable quantum computing systems.
  • Blue Vector Intelligent — Blue Vector Intelligent is a company primarily engaged in software and information technology services, specializing in the development of intelligent software solutions, data-driven platforms, and digital transformation technologies.
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Redstone Capital
VC Fund · Wenzhou, Zhejiang, China · 1 investments in China Sporting Goods startups

Redstone Capital is an equity investment and asset management company.

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Investment focus

  • Industry: Mobile, Medical, E-Commerce
  • Stage:Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 3
  • Round size: Series A $2.7M–$10M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Shanmai.cn — Shanmai.cn is an e-commerce platform specialized in sleeping bags, backpacks, mats, jackets, fleece and trousers.
  • ICE Bioscience — ICE Bioscience was founded in 2010, an Innovative CRO+ Explorer company focusing in early drug discovery services from target validation to pre-clinical candidate identification, with strong capabilities and technologies in Immunology and Oncology, Cardiovascular and CNS diseases areas. ICE Bioscience provides high professional communication andflexible collaboration models, to speed up drug discovery process better and faster.ICE Bioscience has wide target-based panel screening platform ready-to-use, we keep trying to expand diverse techniques related to Biology and Pharmacology, to support various drug discovery purpose for different indications and clinical needs, we do have quite a lot of new assays development experience and passion, to accomplish target identification and assay validation, compounds screening from hit to lead, to pre-clinical drug candidate selection.
  • Zhaoliangji.com — Zhaoliangji.com is a Chinese second-hand mobile phone trading platform.
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Dark Horse Ventures
VC Fund · Haidian, Beijing, China · 1 investments in China Sporting Goods startups

Dark Horse Venture is a venture capital firm that invests at early-stage startups in industrial internet and technology.

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Investment focus

  • Industry: Software, Information Technology, Education
  • Stage:Angel, Series A, Seed
  • Geography: China, Mexico

Investor stats

  • Total investments: 38
  • Round size: Seed $287k–$1.5M; Angel $425k–$1.6M; Series A $445k–$11M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Tuyun Space — Tuyun Space focuses on developing a common twin platform. For the universal twin platform, Tuyun Space builds technical barriers through four basic capabilities: 1. Spatial modeling; 2. Data coupling; 3. Rendering and visualization; 4. Simulation analysis.
  • Maicong Software — Discover the top SQL editor and one service data platform to enhance database management and query efficiency. It supports poplular SQL databases like mysql, mariadb, postgresql, sql server, sqlite, hadoop and more.
  • Weidong Time and Space — Flicker Spacetime is a manufacturer of spacecraft electromechanical moving parts.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Sporting Goods startups

Shenzhen Capital Group Co., Ltd (“SCGC”) is a limited venture capital company established by the Shenzhen Government in 1999. Since its establishment, SCGC has focused on cultivating national industries, shaping national brands, promoting economic transformation, and emerging industries developing. SCGC has registered capital of 5.42 billion RMB,and a total AUM of 338.99 billion RMB. SCGC primarily invests in SMEs, innovative high-tech enterprises, enterprises in emerging industries, and enterprises in start-up period, growth period and in transformation, covering industries supported by national policies, including IT, internet, new media, biopharma, new energy, environmental protection, chemical engineering, new material, high-end equipment manufacturing, consumption goods, modern service, etc. By the end of April 2019, SCGC ranked the first based on the number of portfolio companies and the number of listed portfolio companies: 994 portfolio companies, investments totaling 43.9 billion RMB, 145 of which have been listed in 16 capital markets worldwide.

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Investment focus

  • Industry: Manufacturing, Health Care, Software
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 601
  • Round size: Series A $1.5M–$128M; Series B $13M–$141M; Series C $4.4M–$156M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Prosemi — Pusenmei is a precision micro-resistance current sensor developer company committed to delivering professional and diverse precision micro-resistance current detecting resistors and circuit protection solutions.
  • Enrikenuo — Enrikenuo is a biotechnology company that focuses on the research and development of new generation CAR-NK technology based cell drugs.
  • Waker Biology — Weike Bio is a gene therapy drug development company.
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ZTE Venture Capital Fund Management
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Sporting Goods startups

ZTE Venture Capital Fund Management is engaged in equity investment in non-listed companies in the TMT industry.

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Investment focus

  • Industry: E-Commerce, Industrial, Manufacturing
  • Stage:Series A, Angel, Venture - Series Unknown
  • Geography: China

Investor stats

  • Total investments: 5
  • Round size: Series A $1.5M–$11M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • YKY — YKY is an online electronic components store.
  • Jutai Technology — Jutai Technology uses waste resources as raw materials and uses secondary resource recycling technology to produce high-value-added products of non-ferrous metals including nickel, cobalt, vanadium, molybdenum, copper, and aluminum.
  • Shenzhen Tuoye Intelligent — Top View Intelligent specializes in R&D, production, and technical services of industrial robots and automation systems.
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Ningbo Angel Capital Guiding Fund
VC Fund · Ningbo, Zhejiang, China · 1 investments in China Sporting Goods startups

Ningbo Angel Capital Guiding Fund is a non-profit-oriented policy fund set up by the municipal government.

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Investment focus

  • Industry: Hardware, Manufacturing, Medical
  • Stage:Angel, Series A, Seed
  • Geography: China

Investor stats

  • Total investments: 39
  • Round size: Seed $142k–$142k; Angel $209k–$1.5M; Series A $1.4M–$15M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Xirun Medical — Hi there, this is Sirrem Medical page.
  • Weinan Technology — Weinan Technology is a reflective display component developer that focuses on the development of reflective display core components.
  • Shanghai Xinqi Robotics — Shanghai Xinqi Robotics is a high-tech enterprise specializing in the research and development of humanoid robots, focusing on creating advanced robotic technologies that enhance human-machine interaction, intelligent automation, and real-world applications across industries such as manufacturing, healthcare, education, and service robotics.
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Hammer Capital Management
VC Fund · Santa Barbara, California, United States · 1 investments in China Sporting Goods startups

Hammer Capital Management is a Santa Barbara based investment adviser specializing in technology sector growth investing. Despite the downturn in the technology sector, they believe that technology represents the future of their country, not the past. Accordingly, they believe that long term growth investors are well advised to considerestablishing portfolios in key leadership technology companies for the economic upturn that lies ahead.

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Investment focus

  • Industry: Mobile, Big Data, Hardware
  • Stage:Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • XQIAO — XQIAO is a smart treadmill developer based in China.
  • TalkingData — TalkingData’s advanced data statistics and analytic software have reached nearly 1.5 billion mobile devices in China, providing the most data-rich, reliable and profound market reports from benchmark KPIs, to user behavior studies, to industry movements, trends, and forecasts. Our insightful reports can provide you powerful insights into theChinese Mobile Internet market.TalkingData offers the best-in-class Big Data products varying from highly-scalable data mining, deep data analytics, DMP (Data Management Platform), analytical reports, industry benchmarking, and deep-dive market insight reports. Today, 80% of the Top 50 developers in China rely on us to track their app metrics, analyze user data points, and monetization.Talkingdata was established in Sep. 2011 in Beijing. The Company finished Series A/B funding rounds of over tens of millions of dollars in 2013 and 2014 respectively. After nearly 4 years of rapid development, we now have close collaboration with 90% of the Top 10 distribution channels (Mobile app stores) and Top 10 Ad Networks in China. We are also developing cross-border cooperation with financial and other traditional industries.
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Huading Touzi
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Sporting Goods startups

Huading Touzi is an investment management, investment consulting, and equity investment firm.

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Investment focus

  • Industry: Big Data, Software, E-Commerce
  • Stage:Angel, Series C
  • Geography: China

Investor stats

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

Portfolio highlights

  • Youhualin — Youhualin provides intelligent decision-making solutions, data strategy consulting, and software implementation services.
  • Shanmai.cn — Shanmai.cn is an e-commerce platform specialized in sleeping bags, backpacks, mats, jackets, fleece and trousers.
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SPRIGHT
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

SPRIGHT is an artificial intelligence and big data service company.

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Investment focus

  • Industry: Drones, Retail, Sports
  • Stage:Angel, Series A, Post-IPO Equity
  • Geography: China

Investor stats

  • Total investments: 3
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • FUNSNAP — FUNSNAP provides artificial intelligence, deep learning, and computer vision positioning services. They also provide technical support for new product development. Their customers inquiries are addressed through phone, email, and online applications.
  • Yoger.com — Yoger.com is a sporting goods platform.
  • Wangchong Gufen — Wangchong Gufen provides poverty alleviation and agricultural supply chain data services.
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Zero Capital
VC Fund · 1 investments in China Sporting Goods startups

Zero Capital is an investment firm.

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Investment focus

  • Industry: Retail, Tennis, Robotics
  • Stage:Angel
  • Geography: China

Investor stats

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

Portfolio highlights

  • AceiiLab — Your AI Tennis Hitting Partner - AI Tennis Robot
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822 industries, 177 countries. Updated daily. Emails and phones included.

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KAIYUNTOUZI
VC Fund · Ningbo, Zhejiang, China · 1 investments in China Sporting Goods startups

KAIYUNTOUZI specializes in private equity investment and entrusted asset management.

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Investment focus

  • Industry: Sporting Goods, Event Management, Media and Entertainment
  • Stage:Angel
  • Geography: China

Investor stats

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

Portfolio highlights

  • KOOSA — KOOSA offers sports events and sells sporting goods that include cross-country running, mountaineering, rock climbing, cliff downhill, camping in the wild, picnics, orienteering, and streams. They allow consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Their products serve consumers.
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Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 1 investments in China Sporting Goods startups, 27 in the past 12 months

Plum Ventures is a venture capital company that aims to encourage young people to become entrepreneurs. It specializes ins providing seed and early-stage investments in the technology, new media, and telecommunications industry. The firm was founded in May 2014 and is based in Changzhou, China.

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Investment focus

  • Industry: E-Commerce, Manufacturing, Software
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 270
  • Round size: Seed $676k–$10M; Angel $436k–$4.7M; Series A $1.5M–$38M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — raised $78M in 2019

Portfolio highlights

  • Zeta Fusion — Zeta Fusion operates within the technology promotion and application services industry.
  • Tianxing Exploration — Tianxing Exploration is a company that provides development and manufacturing of satellite communication terminals.
  • DeepGate Transformation — DeepGate Transformation provides aerospace thermal products by using pyrolytic graphite technology.
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Thunderstorm VC
VC Fund · Guangzhou, Guangdong, China · 1 investments in China Sporting Goods startups

Founded in June 2012, Thunderstorm VC is a well-known professional organization for angel investment / venture investment in South China. Thunderstorm Capital focuses on investment in the field of TMT, focusing on areas such as culture and education, entertainment media, consumer sharing, AI, robotics, Internet of Things, etc.

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Investment focus

  • Industry: Software, Video, Hardware
  • Stage:Angel, Series A, Seed
  • Geography: China

Investor stats

  • Total investments: 16
  • Round size: Angel $139k–$1.4M; Series A $449k–$4.3M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Jingmian Technology — Jingmian Technology is an AI-powered tremor management platform developer that leverages advanced algorithms, sensor technology, and real-time data analysis to help monitor, assess, and alleviate tremor symptoms, providing patients and healthcare providers with more effective and personalized management solutions.
  • Saicun Biotechnology — Saicun Biotechnology is an innovative company that focuses on the research, development, and production of a new generation of safe biological sample cryopreservation solutions, resulting in a biological sample cryopreservation technology platform.
  • Mr. Zhong's Fresh Chopped Chili Sauce — Mr. Zhong's Fresh Chopped Chili Sauce is a food and beverage company that provides manufacturing and distribution of chili sauce.
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BW Ventures
VC Fund · Chaoyang, Liaoning, China · 1 investments in China Sporting Goods startups

BW Ventures is an investment firm.

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Investment focus

  • Industry: Software, Apps, Social
  • Stage:Angel, Seed, Series A
  • Geography: China

Investor stats

  • Total investments: 23
  • Round size: Seed $142k–$1.5M; Angel $425k–$850k; Series A $1.5M–$4M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Fuulea — Fuulea is a high school tablet teaching system provider.
  • Julie AI — The first AI assistant that doesn't just understand you—it actually makes the calls, books the appointments, and gets things done while you live your life.
  • Mitu Huan Teng Technology — Mitu is a social platform for entertainment games, focusing on offline multiplayer entertainment games. With KOS (Key Opinion Sales) as the core, it provides consumers with online group buying and offline shopping. Play and other services.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups, 73 in the past 12 months

Innoangel Fund is an investment firm that invests in early stage companies.

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Investment focus

  • Industry: Artificial Intelligence, Manufacturing, Robotics
  • Stage:Angel, Seed, Series A
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 277
  • Round size: Seed $450k–$29M; Angel $425k–$14M; Series A $1.4M–$28M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Lingyu Intelligence — Lingyu Intelligence engages in the manufacturing and sales of industrial robots, intelligent robots and service consumer robots.
  • Xijian Technology — XiJian Technology operates an intellectual property and commercialization pipeline for neuromorphic perception technology by implementing its proprietary "Tianmou" vision chip paradigm. Its architectural design mimics human retinal pathways by extracting discrete visual primitives at the hardware level to circumvent bandwidth constraintsin computational processing. This hardware-software approach provides an ultra-low latency, high dynamic range input layer tailored specifically for foundational world models and downstream physical robotic agents.
  • Ruilai Thermal Control Technology — Ruilai Thermal is a high-tech enterprise specializing in the research, development, production, and sales of thermal control technology,hermal management services, and related products. The company currently holds numerous patents. It has established academic cooperation projects with many domestic research institutes, ensuring a continuous streamof leading products to domestic and international markets.
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Cenova
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups, 9 in the past 12 months

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 by Dr Jun WU and is one of the earliest investors in private healthcare services and digital health, with helps to facilitate the transformation of healthcare in China from an exclusively state-owned system to a more efficient, market-oriented system. CenovaCapital is healthcare funds dedicated to early and growth-stage investments in the life sciences and healthcare sector in China. Since inception in 2010, Cenova now has five funds under management with investments in over 50 companies in healthcare services, pharmaceuticals, medical devices and digital heath. Cenova's investors are mainly large domestic and international institutional investors including Asian sovereign wealth funds, government institutions, insurance and financial institutions and multinational companies.

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Investment focus

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

Investor stats

  • Total investments: 60
  • Round size: Series A $2.8M–$45M; Series B $13M–$61M; Series C $15M–$100M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Simnova — Simnova Biotherapeutics is a biopharmaceutical company that focuses on the research and development of cell therapies for cancer treatment. The company's primary therapeutic focus is CAR-based cell therapy for patients with either hematologic malignancies or solid tumors. Simnova Biotherapeutics is known for its innovative approach todeveloping patient-centered therapeutics using current science and technology. The company's lead product is SNC102, a cell therapy product that has been approved for clinical trials. Simnova Biotherapeutics is committed to creating a healthy, inclusive, and harmonious working environment.
  • Deep Cell — Deep Cell is a Chinese AI driven drug discovery and virtual cell modeling startup. The company integrates artificial intelligence with multi scale molecular physics to construct explainable virtual cell world models, aiming to revolutionize paradigm shifting drug designs and simulate cellular responses to complex diseases.
  • Accro Bioscience — Accro Bioscience research centers on the molecular mechanism of regulated cell death such as necroptosis, pyroptosis, and ferroptosis.
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NextView Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

NextView Capital is an investment corporation following the philosophy of prudence,specialization and high efficiency. NextView Capital ("NextView") is an active investment fund based in Beijing and Shanghai, China. NextView Capital has available resources of c.RMB 30 billion and invests primarily in new energy, mineral resources, TMT,sports and consumption sectors. NextView's recent investments include a shareholding in Nanjing Yuebo Auto Electronics Co., Ltd., a leader in the field of electric vehicle systems in China.

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Investment focus

  • Industry: Robotics, Education, E-Commerce
  • Stage:Series A, Series B, Post-IPO Equity
  • Geography: China, United Kingdom

Investor stats

  • Total investments: 4
  • Round size: Series A $1.4M–$2.8M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • GO Huwai — GO Huwai is an online marketplace for outdoor product purchase, knowledge popularization, and event planning.
  • Rongke Hydrogen — Rongke Hydrogen is a hydrogen fuel cell R&D company, mainly engaged in hydrogen fuel cell research, manufacturing, and sales.
  • Bacanora Minerals — Bacanora Minerals Ltd is an explorer and developer of industrial minerals in Mexico with a primary focus on Borates and Llithium. It was incorporated in Alberta, Canada in September 2008 and is listed on the TSX Venture Exchange (ticker = BCN). Although listed in Canada, They are proud to consider ourselves a Mexican Company. The word Bacanorarefers to a Mexican agave liquor traditionally distilled in the hills of Sonora with much care and attention. Bacanora Minerals strives to replicate this tradition of skill and dedication to quality in its own operations.
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Toread Holdings Group
VC Fund · Changping, Beijing, China · 1 investments in China Sporting Goods startups

Toread Holdings Group designs, manufactures, and retails camping and outdoor equipment.

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Investment focus

  • Industry: Sports, Outdoors, Aerospace
  • Stage:Series A, Seed, Angel
  • Geography: China

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Traverser — Traverser is a commercial manned aerospace technology company that develops reusable manned spacecraft and operates space tourism activities.
  • Yoger.com — Yoger.com is a sporting goods platform.
  • Blue Wave — Blue Wave is a producer of Industrial IoT and Internet of Vehicles chips.
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China Capital Investment Group
VC Fund · Shanghai, Shanghai, China · 1 investments in China Sporting Goods startups

Founded in 1995 with approval granted by the State Administration for Industry, the China Capital Investment (Group) Co., Ltd. (‘CCIG’) is registered in Shanghai with a registered capital of CNY300 million.CCIG seeks to optimize its investment structure as well as enhance its economic growth and competitive edge by fully harnessing theopportunities unleashed by changes in the global economic structure and China’s economic transformation. To this end, CCIG focuses on industry investments and capital operations and manages its assets in a professional and investment-centered manner that is at the same time grounded in industry experience.Currently, CCIG involves a number of areas, including mining, healthcare, real estate, cultural tourism, Information Technology, energy, and finance and securities. With a strong asset structure and abundant operational cash flow, CCIG is slated to grow its financial strength, establish more quality investment programs, implement excellent management and tap on a strong pool of professional talents as its assets take more a more international profile.

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Investment focus

  • Industry: Health Care, Education, E-Commerce
  • Stage:Angel, Series C, Series A
  • Geography: China, Thailand, Hong Kong

Investor stats

  • Total investments: 44
  • Round size: Angel $425k–$466k; Series A $1.4M–$11M; Series C $16M–$145M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • FlashSo Technology — FlashSo Technology focuses on the commercialization of physical AI and embodied intelligence technologies, aiming to extend AI from the digital world to real-world physical scenarios.
  • Huaibei Huajian Technology — Huaibei Huajian Technology is a technology company that focuses on research and development of a smart healthcare ecosystem network.
  • Zhongzhuo Industrial Finance — Zhongzhuo Industrial Finance is a technological firm that manufactures bathroom and home furnishing items.
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IDG Capital
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

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: Software, Internet, E-Commerce
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 1056
  • Round size: Series A $2.9M–$100M; Series B $7.1M–$115M; Series C $15M–$354M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • AIxCrypto — Qualigen is a biotechnology company focused on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases, as well as the expansion of its flagship FastPack® diagnostic platform.
  • Hypershell — An exoskeleton innovator reshaping lifestyles and enabling technology to empower life.
  • Chengjia Apartment — Chengjia Apartment is a rental start-up that provides different product choices for apartments, hotels, and homestays. Chengjia Apartment extends the business scope to weekly rent, monthly rent, and long-term rent. The company creates a high-quality living environment with ingenuity, take care of every guest with hotel-style service, and creates awarm, comfortable, and temperature-friendly home.Chengjia Apartment is jointly established by China Living Hotel Group and IDG Capital. It has laid out nearly 100 properties in first-tier cities nationwide, with more than 10,000 houses and services.It was founded on 2015 and is headquartered in Shanghai, China.
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China Equity
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

ChinaEquity is China's private merchant bank engaging in VC, PE, Direct investments as well as investment management. It provides one-stop cross-border VC PE and direct investments to high-tech enterprises throughout the Greater-China Region.The company uniquely positions itself to the booming Chinese technology, media, telecommunications,biotechnology and environmental technology, sports, medicine and the natural resource industries, and aims to equilibrate the demand and the supply in the capital market and provide total solutions to all parties on the capital flow chain.Clear development strategy and innovative business model has helped ChinaEquity to achieve outstanding performances. Its resources and networks extend all over the Silicon Valley, Wall Street, Europe and Greater China. International strategic alliance and partnerships allow the company to be able to cover all stages of investment and financing. Since inception, ChinaEquity has achieved a promising portfolio of investments and has established a high-quality customer base.ChinaEquity fully understands the political, economic and cultural environment in Greater-China, is well experienced in international capital market operations, and familiar with development trend. The company maintains long-term and favorable communications with Chinese governmental bodies, international financial institutions and high-tech enterprises.ChinaEquity was founded in 1999 by Mr. Chao Y. Wang, formerly the Vice President and Beijing Chief Representative of Morgan Stanley Dean Witter. The senior partners and executives joined ChinaEquity from international and domestic renowned financial institutions and high-tech enterprises.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 98
  • Round size: Series A $1.4M–$43M; Series B $3M–$162M; Series C $15M–$117M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • iSMARTWAYS — iSMARTWAYS provides core equipment and solutions for V2X connected vehicles and intelligent transportation.
  • Cadena — Looking to expand to the Gulf countries (Saudi Arabia, UAE etc.)? Cadena has a Local Sales Team in every GCC country and proprietary technology: Discovery Portal, BuyBeacon & IntelliContact for Low-Cost growth across the region.
  • iSmartWays — iSmartWays Technology is a technology company, engages in connected vehicle (V2X) and transportation technology. iSmartWays Technology specializes in research, development and manufacturing of connected vehicle hardware and software solutions.
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Blackbirdsport
VC Fund · Haidian, Beijing, China · 1 investments in China Sporting Goods startups

Blackbirdsport is an application for recording and sharing riding.

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Investment focus

  • Industry: Sports, Hardware, Sporting Goods
  • Stage:Series A
  • Geography: China

Investor stats

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

Portfolio highlights

  • iGPSPORT — iGPSPORT is one of the leading manufacturers for bike computers, heart rate monitors, and cycling sensors.
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Buhuo Ventures
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

Buhuo Ventures invests in early and growing TMT and innovative consumer sectors.

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Investment focus

  • Industry: Food and Beverage, E-Commerce, B2B
  • Stage:Series A, Angel, Seed
  • Geography: China

Investor stats

  • Total investments: 49
  • Round size: Seed $140k–$3.2M; Angel $435k–$3M; Series A $3M–$16M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $243M in 2021

Portfolio highlights

  • Tustin — Tustin focuses on "hand-rolled and grilled" items such as spicy chicken drumsticks and grilled pineapple burgers.
  • Shala Shike — Shala Shike is a supply chain technology company that focuses on catering, dining, salad carving service, cold chain distribution, and smart machine unmanned sales services.
  • China Model Group — China Model Group is a network of systems for material management. By maximizing the mismatch of assets and enhancing industrial productivity, it enables the standardization, digitization, and financialization of the commercial formwork sector at the level of formwork practitioners. General contracting services are provided by a platform thatbrings together industry resources to guarantee that industry practices are followed during project construction. This platform also uses digital innovation capabilities to enhance industrial efficiency and lower construction costs.
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Share Capital
VC Fund · Shenzhen, Guangdong, China · 1 investments in China Sporting Goods startups

Share Capital is a venture capital firm specializing in seed, start-up, early, middle, growth capital, and Pre-IPO investments. it primarily invests in big living, medical healthcare, and internet innovation. In medical healthcare, it seeks to invests in pharmaceuticals, innovative equipment, biotechnology, diagnostic testing equipment andreagents, anti-infectives, drug discovery, medical health service, mobile medical services, and informatization.

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Investment focus

  • Industry: Health Care, Medical, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Colombia

Investor stats

  • Total investments: 112
  • Round size: Seed $142k–$7.3M; Series A $1.4M–$17M; Series B $2.9M–$93M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Microview — Microview is a high-tech enterprise specializing in the research and development of high-precision complex process chip packaging equipment.
  • SuperDimension Power — SuperDimension is dedicated to creating leading embodied intelligent brains and robot bodies.
  • Help Therapeutics — Help Stem Cell Innovations Co. Ltd. is the first biotechnology company in China to use iPSC-induced pluripotent stem cell technology to regenerate myocardial, liver, nerve and other tissues and organs. Relying on this core technology, Elp Regenerative Medicine is committed to building a national biological sample bank and cell preparation center,leading the frontier of cell therapy, promoting the clinical transformation of regenerative medicine, and solving the clinically unresolvable degenerative and functional impairment diseases. Reshape human health.
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Henggu Touzi
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

Henggu Touzi is an investment management firm.

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Investment focus

  • Industry: E-Commerce, Consumer Goods, Sporting Goods
  • Stage:Angel
  • Geography: China

Investor stats

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

Portfolio highlights

  • Shanmai.cn — Shanmai.cn is an e-commerce platform specialized in sleeping bags, backpacks, mats, jackets, fleece and trousers.
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Ricebank
VC Fund · Hangzhou, Zhejiang, China · 1 investments in China Sporting Goods startups

Ricebank is a comprehensive investment management company.

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Investment focus

  • Industry: Electric Vehicle, Travel, Hardware
  • Stage:Angel, Series A
  • Geography: China

Investor stats

  • Total investments: 9
  • Round size: Angel $142k–$1.4M; Series A $1.4M–$10M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Yunmake — Yunmake makes foldable electric bikes, like the X1 (pictured above), that are battery-powered and connected to an app.While a Xiaomi representative declined to comment on potential collaborations with Yunmake, Shunwei’s (and, by extension, Lei Jun’s) interest in the company is notable because Xiaomi is busy building a hardware ecosystem thatextends beyond its smartphones. Xiaomi hasn’t rolled out vehicles yet, but reports have surfaced that it wants to add electronic bikes and smart cars to its growing roster of consumer hardware.
  • Uma — Uma is the provider of smart mobility solutions in China.
  • Leke Dujiaoshou — Like Dujiaoshou creates an Internet community ecosystem for entrepreneurs, helping entrepreneurs to connect capital, link resources, and provide educational services.
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Variable Capital
VC Fund · 1 investments in China Sporting Goods startups

Variable Capital is an early-stage venture capital firm established by GeekPark.

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Investment focus

  • Industry: Retail, Tennis, Robotics
  • Stage:Angel
  • Geography: China

Investor stats

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

Portfolio highlights

  • AceiiLab — Your AI Tennis Hitting Partner - AI Tennis Robot
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FineWill Capital
VC Fund · 1 investments in China Sporting Goods startups

FineWill Capital is an investment Firm.

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Investment focus

  • Industry: Gaming, Training, Education
  • Stage:Angel, Seed
  • Geography: China, Germany, United Arab Emirates

Investor stats

  • Total investments: 18
  • Round size: Seed $1M–$7.7M; Angel $426k–$1.5M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • The9 — The9 is an online game developer and operator in China offering games for the web, social media, TV, and mobile platforms.
  • O-Cubes — O-Cubes focus on micro chip research and development in wireless communication field.
  • Oneness Labs — Trusted VPN for bypassing internet censorship. 10+ years fighting the Great Firewall of China. 30-day free trial.
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PreAngel
VC Fund · Beijing, Beijing, China · 1 investments in China Sporting Goods startups

PreAngel is a 30M RMB investment fund focused on early stage internet startups. Investment on each project range from 100K to 1M RMB. In addition to investment, PreAngel plays a key role as "co-founder", providing guidance in startup operation, business model refinement and industry resources.

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Investment focus

  • Industry: Internet, Software, Blockchain
  • Stage:Angel, Seed, Series A
  • Geography: China, United States, Switzerland

Investor stats

  • Total investments: 104
  • Lead/follow: no public data

Portfolio highlights

  • Ajuna Network — Ajuna Network is a decentralized ecosystem for gamers and creators.
  • X World Games — Founded in 2018, X World Games (“XWG”) aims to build the next-gen decentralized gaming metaverse.X World Games' vision is to build a diversified gaming ecosystem that connects traditional gamers with the blockchain world and invite more game developers into the crypto space by creating and providing the underlying blockchain framework.Withits gaming innovation, crypto game - Dream Card, NFT Marketplace and DeFi Pool, X World Games now serves over 2 million registered gamers, and has quickly become the fastest-growing crypto gaming platform in the ecosystem.X World Games is headquartered in Singapore with a 100+ dynamic team located worldwide.
  • Feiba Business Travel — Feiba Business Travel is a business trip ticket service platform
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Sporting Goods VC funding in China at a glance

Stats across 41 deals from 72 investors.

72
investors
in China Sporting Goods startups
41
deals
in China Sporting Goods startups
$1.5M
median round
in China Sporting Goods startups
25%
lead investors
lead at least one round
37%
Angel
most common funding stage

Access all 72 VC funds in China Sporting Goods startups.

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