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Top 50 Sports VC Funds & Investors in China (July 2026)

The most active venture capital funds investing in China Sports startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in China Sports startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Plum Ventures
VC Fund
8 China, United States, Hong Kong Series A, Angel, Seed E-Commerce, Manufacturing, Software $425k–$16M
SOSV
VC Fund
6 United States, India, United Kingdom Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software
Innoangel Fund
VC Fund
6 China, United States, Canada Angel, Seed, Series A Artificial Intelligence, Manufacturing, Robotics $425k–$20M
Eagles Fund
VC Fund
6 China, Hong Kong, United States Angel, Series A, Seed Information Technology, Media and Entertainment, Internet $85k–$4.3M
Shunwei Capital
VC Fund
6 China, United States, India Series A, Series B, Series C Manufacturing, Software, Internet $1.4M–$100M
Fenghou Capital
VC Fund
6 China Angel, Series A, Seed Information Technology, Automotive, Information Services $425k–$14M
CMC Capital Group
VC Fund
5 China, United States, Togo Series B, Series A, Series C E-Commerce, Apps, Media and Entertainment $217k–$400M
N5Capital
VC Fund
5 China, United States, India Series A, Seed, Series B E-Commerce, Internet, Gaming $142k–$30M
Panda Capital
VC Fund
5 China, United States, Malta Seed, Series A, Angel Blockchain, Information Technology, Robotics $140k–$16M
Fosun RZ Capital
VC Fund
4 China, United States, India Series A, Series B, Seed E-Commerce, Software, Internet $750k–$148M
Jinqiu Capital
VC Fund
3 China, United States, Hong Kong Seed, Series A, Angel Artificial Intelligence, Robotics, Manufacturing $10M–$29M
In Capital
VC Fund
3 China Series A, Angel, Seed Software, Information Technology, E-Commerce $142k–$11M
YF Capital
VC Fund
3 China, United States, Indonesia Series A, Series B, Series C Biotechnology, Health Care, Internet $1.4M–$600M
Matrix Partners China
VC Fund
3 China, United States, Singapore Series A, Series B, Seed Health Care, Biotechnology, Software $1.6M–$113M
The Arena Capital
VC Fund
3 China Series A, Angel, Seed Sports, Food and Beverage, Tea $425k–$5M
ZhenFund
VC Fund
3 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Software, E-Commerce $425k–$28M
Ameba Capital
VC Fund
3 China, United States, India Angel, Series A, Seed Software, E-Commerce, Health Care $425k–$20M
UnityVC
VC Fund
3 China, United States, Hong Kong Angel, Seed, Series A Artificial Intelligence, E-Commerce, Information Technology $283k–$20M
PreAngel
VC Fund
3 China, United States, Switzerland Angel, Seed, Series A Internet, Software, Blockchain
36Kr
VC Fund
3 China Series A, Seed, Series B Manufacturing, Sports, Enterprise $1.4M–$43M
Crystal Stream Capital
VC Fund
3 China, Hong Kong, United States Series A, Series B, Seed E-Commerce, Manufacturing, Robotics $1.4M–$42M
HSG
VC Fund
3 China, United States, Hong Kong Series A, Series B, Series C Health Care, Biotechnology, Software $4.4M–$214M
Frees Fund
VC Fund
3 China, United States, Singapore Series A, Seed, Angel Artificial Intelligence, Health Care, Biotechnology $425k–$35M
China Equity
VC Fund
3 China, United States, Canada Series A, Series B, Series C Software, Internet, Information Technology $1.4M–$156M
BlueRun Ventures
VC Fund
3 China, United States, South Korea Series A, Series B, Seed Software, Mobile, Robotics $1.4M–$50M
Xinyi Capital
VC Fund
3 China Series A, Angel, Seed Sports, Software, Gaming $1.4M–$14M
Tamarace
VC Fund
2 China Angel, Seed, Series A Software, Information Technology, Service Industry
GSR United Capital
VC Fund
2 China, United States, Singapore Series A, Seed, Series B Manufacturing, Robotics, Artificial Intelligence $98k–$50M
Shenzhen Capital Group
VC Fund
2 China, United States, Japan Series A, Series B, Series C Manufacturing, Health Care, Software $1.5M–$156M
Sea of Stars Capital
VC Fund
2 China Series A, Series B, Angel Media and Entertainment, Video, Internet $1.4M–$12M
IDG Capital
VC Fund
2 China, United States, India Series A, Series B, Series C Software, Internet, E-Commerce
BAI capital
VC Fund
2 China, United States, Hong Kong Series A, Series B, Seed Software, Internet, Financial Services $3M–$100M
Yunmu Capital
VC Fund
2 China Angel, Series A, Series B Smart Home, Health Care, Internet of Things
Toread Holdings Group
VC Fund
2 China Seed, Angel, Series A Sports, Outdoors, Aerospace
Lighthouse Capital Management
VC Fund
2 China, United States, Czech Republic Series A, Seed, Angel Hardware, Software, Apps $425k–$50M
Partech
VC Fund
2 United States, France, Germany Series A, Seed, Series B Software, E-Commerce, SaaS $1.1M–$55M
Qingsong Fund
VC Fund
2 China, United States, Canada Series A, Angel, Seed Manufacturing, Internet, Education $142k–$28M
Agile Fund
VC Fund
2 China Series A Fitness, Health Care, Mobile
Mount Morning Capital
VC Fund
2 China Series A, Seed, Series B Software, Information Technology, E-Commerce $1.4M–$38M
Cathay Capital
VC Fund
2 China, France, United States Series B, Series A Manufacturing, Health Care, Biotechnology $14M–$125M
Zero2IPO Ventures
VC Fund
2 China, Taiwan, India Series A, Series B, Angel E-Commerce, Internet, Education $142k–$42M
Tengxun Touzi
VC Fund
2 China Series A, Angel Information Technology, Software, Gaming $425k–$14M
SkyChee Ventures
VC Fund
2 China, United States, Hong Kong Seed, Series A, Angel Artificial Intelligence, Software, Information Technology $425k–$16M
Fosun International
VC Fund
2 China, United States, Israel Series A, Series B, Series C Health Care, Manufacturing, Information Technology $1.4M–$97M
Loyal VC
VC Fund
2 United States, Canada, United Kingdom Pre-Seed, Seed Artificial Intelligence, Software, FinTech $30k–$2.5M
Legend Star
VC Fund
2 China, United States, France Series A, Seed, Angel Health Care, Medical, Robotics $425k–$112M
Scrum Ventures
VC Fund
2 United States, Japan, China Seed, Series A Software, Artificial Intelligence, Information Technology $1.3M–$31M
Kleiner Perkins
VC Fund
2 United States, China, United Kingdom Series B, Series A, Series C Software, Information Technology, Health Care $5M–$110M
Ivy Capital
VC Fund
2 China, United States Series A, Series B, Seed Manufacturing, Information Technology, Software $1.4M–$20M
Volcanics Venture
VC Fund
2 China, United States, Hong Kong Series A, Series B, Seed Health Care, Artificial Intelligence, Biotechnology $350k–$60M
Access all 256 VC funds in China Sports startups.

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

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Investor list

Plum Ventures
VC Fund · Changzhou, Zhejiang, China · 8 investments in China Sports startups, 28 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: 216
  • Round size: Seed $1.4M–$10M; Angel $425k–$6M; Series A $1.4M–$16M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Zhicheng AI — Zhicheng AI is a developer of general-purpose artificial intelligence robots, dedicated to designing and building intelligent robotic systems that integrate advanced AI algorithms, perception technologies, and adaptive learning capabilities
  • DeepPu Intelligence — DeepPu Intelligence is a high-tech enterprise specializing in the research, development, and innovation of intelligent robotic technologies. The company focuses on creating advanced robotic systems that integrate artificial intelligence, machine vision, and automation to serve a wide range of industries, including manufacturing, logistics,healthcare, and service sectors.
  • Delta Intelligence Technology — Delta Intelligence Technology is a next-generation embodied intelligence company focused on integrating advanced artificial intelligence with physical systems to create machines that can perceive, learn, and act in the real world.
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SOSV
VC Fund · Princeton, New Jersey, United States · 6 investments in China Sports startups, 75 in the past 12 months

SOSV is a global, deep tech venture capital firm that operates the HAX and IndieBio startup development programs focused on human and planetary health. SOSV invests $500,000 in startups at their inception as they onboard either HAX or IndieBio for a 4-6 month period designed to accelerate the raise of their next institutional round. SOSV joins thelater rounds of HAX and IndieBio graduates. HAX, based in a 35,000 sq ft facility in Newark, NJ, is equipped with machine tools, 3D printers, chemical, electrical and mechanical engineering labs, as well as on-staff engineering and design experts. SOSV's IndieBio has locations in NYC and San Francisco, both of which offer extensive services and facilities to founders including on-site BSL-2 labs, well equipped lab benches and hoods, and advanced lab equipment, such as chromatography equipment.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1482
  • Lead/follow: no public data

Portfolio highlights

  • MixRift — MIXRIFT - game developers specialized in Mixed Reality
  • unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
  • Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.
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Innoangel Fund
VC Fund · Beijing, Beijing, China · 6 investments in China Sports startups

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, Canada

Investor stats

  • Total investments: 235
  • Round size: Seed $425k–$20M; Angel $425k–$14M; Series A $1.4M–$14M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • MQTEK — MQTEK is a platform level core component supplier specializing in upstream hardware for neutral-atom and ion-trap quantum computing architectures.
  • Zhidao Hechuang — Zhidao Hechuang is a comprehensive solution provider for new energy asset management.
  • Shenzhen Biang Core Technology
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Eagles Fund
VC Fund · Beijing, Beijing, China · 6 investments in China Sports 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: 80
  • Round size: Seed $85k–$2.8M; Angel $425k–$1.4M; Series A $425k–$4.3M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Luquos Energy — Luquos Energy is a renewable energy company that offers energy consulting and management services.
  • 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.
  • 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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Shunwei Capital
VC Fund · Beijing, Beijing, China · 6 investments in China Sports startups

Shunwei Capital is a venture capital fund that focuses on early to mid-stage investments in local internet industry. It specializes in incubation, startups, early to mid-stage, and growth capital investments. It seeks to invest in the technology, media, telecommunications, high technology, new media, games, internet finance, and rural area internetsectors. Their investors include sovereign wealth funds, fund of funds, university endowment funds, and family offices.

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Investment focus

  • Industry: Manufacturing, Software, Internet
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, India

Investor stats

  • Total investments: 448
  • Round size: Series A $1.4M–$43M; Series B $8.2M–$57M; Series C $20M–$100M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $1.2B in 2018

Portfolio highlights

  • CertiK — CertiK, the largest Web3 security service provider, uses AI and formal verification to protect and monitor smart contracts and protocols, securing the Web3 ecosystem.
  • Z.ai — Z.ai develops artificial intelligence models and services built upon large-scale pretrained architectures. The company offers ChatGLM, a dialogue-focused language model series designed for smooth conversation and easy integration. It also provides Ying, a text-to-video model capable of generating short video clips from text or images, and AutoGLM,a voice-driven AI agent that performs smartphone tasks based on complex user instructions. Z.ai supports integration through an API platform and offers migration assistance for developers moving from other AI ecosystems. The company’s technology stems from research at Tsinghua University’s KEG lab and emphasizes general-purpose cognitive intelligence models.
  • Darma — DARMA - Digital Healt
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Fenghou Capital
VC Fund · Beijing, Beijing, China · 6 investments in China Sports startups

Fenghou Capital is early-stage equity investment firm.

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Investment focus

  • Industry: Information Technology, Automotive, Information Services
  • Stage:Angel, Series A, Seed
  • Geography: China

Investor stats

  • Total investments: 61
  • Round size: Seed $1.5M–$2.6M; Angel $425k–$1.4M; Series A $1.4M–$14M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Benewake — Benewake is the leading provider of solid-state LiDAR sensors and solutions. We won the Championship of Audi Innovation Lab.Completed the Series B2 funding in 2018, Benewake has built a strong connection with our global top-tier investors globally and locally, including IDG Capital, Shunwei Capital, Cathay Capital (Valeo LP), Delta Capital,Keywise Capital, and Ecovacs.Benewake LiDAR products, including basic flash LiDAR and 3D LiDAR, have achieved mass production level with corresponding certificates. Our LiDAR solutions are widely used in autonomous vehicles (collision avoidance), drones (logistics, agricultural plant protection), ITS, robots (smart home), AGV (logistics and warehouse management).Benewake LiDAR products, with the protection of intellectual property rights, have been widely launched to Europe, America, Asia-Pacific market, etc.
  • Kuaipan Tech — Kuaipan Tech is a cloud gaming and cloud application technology solution service company based on ARM cloud technology.
  • Fengmao Dongtou — Fengmao Enterprise is a bulk raw material logistics operator that transports bulk chemical products corrosive and non-corrosive by road.
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CMC Capital Group
VC Fund · Shanghai, Shanghai, China · 5 investments in China Sports startups, 6 in the past 12 months

CMC Capital Group is China's first media sector focused on the alternative investment management company. CMC is dedicated to media investments both in China and the International market. In April 2009, CMC was registered and approved by China's National Development and Reform Commission with RMB 5 billion in assets under management.CMC is uniquely positioned to capitalize on the growth and development of China's media sector as well as international investment opportunities. CMC will target media assets with consistent cash flow, strong market position, well-established branding, and high future growth potential.The firm is focused on growth capital, corporate restructuring, and MBO/privatization financing opportunities; targeting companies with enterprise value between RMB 300 million to 2 billion. Their equity investment size ranges between RMB 140 million to 480 million. With their strong and unique investor base, they are also able to lead or participate in large buyout transactions in excess of RMB 6 billion.CMC Capital Group is formerly known as China Media Capital.

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Investment focus

  • Industry: E-Commerce, Apps, Media and Entertainment
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, Togo

Investor stats

  • Total investments: 91
  • Round size: Series A $217k–$14M; Series B $428k–$130M; Series C $30M–$400M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Yixiu — Yixiu provides sleep health products such as smart wearables, smart home sleep scene hardware, sleep data analysis platforms, energy management apps, and more.
  • LEAPMIND — GrowthGPT is an AI growth agent built for user acquisition teams. By setting specific goals and guardrails, GrowthGPT autonomously plans campaigns, allocates budgets across channels, tests creatives, and optimizes performance daily.The platform ensures full transparency: every action is logged, and every decision is explainable. Founded by growthleaders from TikTok, Kuaishou, and miHoYo, the team brings a proven track record of managing over $5B in ad spend across diverse global markets.
  • Dongsheng Fusion — Dongsheng Fusion is a magnetic confinement fusion technology company that develops miniaturized fusion power plant technology.
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N5Capital
VC Fund · Beijing, Beijing, China · 5 investments in China Sports startups

N5Capital is a Beijing-based leading venture capital firm focusing on early stage investment in mobile internet. N5Capital is the only early stage USD venture fund in China specializing in mobile internet, big data and cloud’s disruptive convergence with consumer sectors. N5 believes these technologies are emerging to be the infrastructure ofproductivity growth and consumer behavior transformation. Founded in 2013 by Mr. Will Jiang and Mr. Weiguo Zhao, N5Capital is currently managing two RMB funds and one USD fund, with the total capital managed at $350 million USD. In 2016, N5Captial was awarded the Top 20 Early Stage Venture Capital Firm in China. The power of mobile disruption in the internet savvy Chinese population guarantees a strong investment potential. With more than 60 companies in its portfolio, N5Capital has represented some of the most leading-edge tech companies, including Talking Data, 360 Finance, Car 300, Hot & Hot, Viva Video, LGD, Ofashion and inMotion/SoloWheel. N5Capital has a unique GP team combination with a collective successful track record spanning from angel, early stage, and growth stage to corporate M&A with approximately 30 years combined investment experience. N5Capital analyzes in consumer sectors such as finance, retail, housing, automobile, travel among others and invests in start-ups that thrives on either build or leverage the underlying technology to disrupt or recreate the industry value chain . Through an expansive network, in-depth industry analysis and rigorous user behavior research, N5Capital is shifting the investment landscape for both start-ups and investors. For more information, visit www.n5capital.com.

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Investment focus

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

Investor stats

  • Total investments: 87
  • Round size: Seed $142k–$2.1M; Series A $907k–$15M; Series B $425k–$30M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • Feiyu — Feiyu is an online purchasing platform for luxury trading bags.
  • Harmay — HARMAY is based on contemporary fashion and aesthetics, conveys the concept of beauty and beautiful life. Covering first well-known international cosmetics and skin care brands products, global unique boutiques, and HARMAY’s own products,
  • Zhongying Cross-border — Zhongying Cross-border is a cross-border e-commerce comprehensive service platform.
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Panda Capital
VC Fund · Shanghai, Shanghai, China · 5 investments in China Sports startups

Founded in 2015, Panda Capital is a new generation venture capital firm in China focused on early-stage businesses powered by innovative and disruptive technology.Panda Capital is a disciplined early-stage investor focused on companies from Angel to Series B stages and strive to become their first or the second institutional investor.We focus onfast-growing tech startups in areas including Data Driven AI Applications, Enterprise Services, Fintech, Logistics, Mobility & Transportation, and New Generation Consumer Trends.Our family of portfolio companies include: Mobike (Now as Meituan Bike), Atzuche, Mi-Me Financial, 1ziton, Intengine Technology, Xunyi (Antwork), Robot++, Aiwhale, Dr. White and Fulmz AI, etc. Panda Capital have received various awards including "2017 & 2018 China Venture Capital Firms Top 10" by Zero2IPO, “2017 China’s Best Venture Capital Firms Top 10” and “2017 China’s Best Return Venture Capital Firms Top 10” by China Venture, and “2017 China Venture Capital Firms in Sharing Economy Top 10” by 36Kr, etc.

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Investment focus

  • Industry: Blockchain, Information Technology, Robotics
  • Stage:Seed, Series A, Angel
  • Geography: China, United States, Malta

Investor stats

  • Total investments: 55
  • Round size: Seed $1.4M–$7.7M; Angel $140k–$1.5M; Series A $1.4M–$16M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $96M in 2018

Portfolio highlights

  • Blue Protein — Blue Protein is a biotechnology company that focuses on the research and development of animal feed or edible insects.
  • Five hundred — Five hundred is an e-Commerce platform providing farm fresh fruits and vegetables to customers on a subscription basis.
  • Theia Studios — Icons of Theia - a tactical turn based strategy game
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Fosun RZ Capital
VC Fund · Beijing, Beijing, China · 4 investments in China Sports startups, 9 in the past 12 months

Fosun RZ Capital was founded in 2013 and headquartered in Beijing. As an affiliate of Fosun Group, RZ Capital is an independent fund with strategic resources, quickly establishing global footprints. The company invests in all the stages of a company’s development from the early start- Up to IPO. The firm has over 100 portfolio companies in China,with about $1.2 billion in assets under management, with investments in India, Israel, China, Southeast Asia, and the United States. Focuses on investing in science and technology innovation, and connecting global momentum to global resources.

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Investment focus

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

Investor stats

  • Total investments: 142
  • Round size: Seed $750k–$84M; Series A $1.4M–$19M; Series B $8.5M–$148M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Vita Dynamics — Vita Dynamics involves learning through real-world interactions by developing robots that can physically engage with their environment, they can adapt more naturally and efficiently.
  • DaXiao Robotics — DaXiao Robotics is committed to advancing the technological iteration of its “human-centered” ACE embodied full-stack R&D paradigm, continuously integrating cutting-edge artificial intelligence, robotics engineering, and cognitive science to create more adaptive, intelligent, and responsive embodied systems that seamlessly collaborate withhumans across diverse real-world scenarios.
  • GigaAI — Excellent Vision is a spatial intelligence company focused to transforming video creation into a 4D world model, enabling AI big models to grasp, generate, and reason about 4D space.
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Access 48,091 investors

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

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Jinqiu Capital
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups

Jinqiu Fund invests in biotechnology companies

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Investment focus

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

Investor stats

  • Total investments: 47
  • Round size: Seed $10M–$14M; Angel $14M–$14M; Series A $14M–$29M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Miracle Rabbi — MiracleRabi is an AI-powered trendsetting brand focused on the research, development, and promotion of AI toys, integrating cutting-edge artificial intelligence, interactive technologies, and imaginative design to create engaging, educational, and emotionally intelligent play experiences that inspire creativity and redefine the future of smartentertainment.
  • Shengshu Technology — Shengshu Technology is an artificial intelligence solution provider that focuses on the creation of multi-modal generative big models and application products. It offers broad services to institutional businesses and technical service providers in specific industries.
  • VisionNav Robotics — VisionNav Robotics is a global provider of autonomous industrial vehicles and intralogistics automation systems based on AI technology.
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In Capital
VC Fund · Hangzhou, Zhejiang, China · 3 investments in China Sports startups

In Capital is a value-oriented, research-driven, independent-thinking venture capital firm.

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Investment focus

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

Investor stats

  • Total investments: 58
  • Round size: Seed $142k–$4.3M; Angel $425k–$10M; Series A $1.4M–$11M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Tianmu Turbine — Tianmu Turbine is a company specializing in the design, manufacturing, & validation of aircraft engines and low-altitude propulsion systems.
  • Danong Technology — Danong Technology delivers food supply, group meals, fresh chains, smart agriculture, and school-enterprise services.
  • FrameLeap Technology — FrameLeap Technology is the focusing company on large-scale model applications for digital sales employees through a three-in-one architecture of application + model + infrastructure, it creates enterprise-level digital sales employees to drive business growth.
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YF Capital
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 3 investments in China Sports startups

Yunfeng Capital was established in January 2010. It is the only private equity firm in China set up by successful entrepreneurs, pioneers and industry leaders. Its goal is not merely to be a financial investor, but also to share the entrepreneurial experience with companies, helping them refine their development, organizational management and brandbuilding strategies.Yunfeng Capital places a special emphasis on young entrepreneurs, grooming future leaders to lead world-class enterprises. Yunfeng is the result of combining the Chinese first names of Mr. Jack MA (Yun), Chairman of Alibaba, and Mr. David YU (Feng), Founder of Target Media.In addition, there are more than 10 other co-founders, including Mr. Yu Zhu SHI, Chairman of Giant interactive group, Mr. Yong Hao LIU, Chairman of New Hope Group, Mr. Guo Jun SHEN, Chairman of Intime Investment, Mr. Yu Suo WANG, Chairman of ENN Group, Mr. Jason JIANG, Chairman of Focusmedia, Mr. Hang XU, Chairman of Shenzhen Mindray Medical, Mr. Yi Hong CHEN, Chairman of China Dongxiang(Group), Mr. Xin ZHOU, Chairman of E-House (China), Mr. Jian Guo WANG, Founder of Fivestar, Mr. Shao Xiong ZHOU, Chairman of Septwolves, Mr. Xu Ning WANG, Chairman of Joyong Holdings, Mr. You Cai ZHANG, President of Unifront Holdings.Yunfeng Capital is headquartered in Shanghai. Branch offices are located in Hong Kong, Beijing, Hangzhou, and other mainland cities.

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Investment focus

  • Industry: Biotechnology, Health Care, Internet
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Indonesia

Investor stats

  • Total investments: 137
  • Round size: Series A $1.4M–$500M; Series B $17M–$260M; Series C $30M–$600M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • LaNova Medicines — LaNova Medicines is a clinical-stage innovative drug research and development company. The company focuses on the unmet therapeutic needs in the field of tumor immunity and tumor microenvironment and focuses on the research and development of "world's first" and "best-in-class" potential bio-innovative drugs.
  • North Ocean Photonics — North Ocean Photonics is a Smart Hardware Company.
  • NeueHCT — Horizon Continental Technology is a joint venture between Continental Group and Horizon Robotics
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Matrix Partners China
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups

Matrix Partners China builds long-term relationships with entrepreneurs and helps them build significant, industry-leading companies.Since its inception in 1977, Matrix Partners China has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have goneon to profitable M&A events. The firm consistently ranks in the top venture firms in terms of returns to its investors.Matrix Partners China combines local knowledge with global experience and vision. Its team consists of both former entrepreneurs and experienced investors. Its past successes include Focus Media, Eachnet, and Baidu, among others. The company invests across multiple sectors and stages.

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Investment focus

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

Investor stats

  • Total investments: 459
  • Round size: Seed $1.6M–$32M; Series A $2.9M–$57M; Series B $10M–$113M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • TT Yuyin — Quwan provides services including instant voice messaging, social gaming, esports, and game distribution. It operates TT Voice, which started as a voice chat application designed for mobile gamers and was later developed into a social gaming platform. It focuses on developing personalized services for the Gen Z audience.
  • Huangbaoche — Huangbaoche is a travel service providing tour packages and booking services. Huangbaoche has over 100,000 Chinese-speaking drivers and tour guides providing airport pick-up services, chartered car services, and guided tours in over 1,500 overseas travel destination cities in 80 countries.
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
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The Arena Capital
VC Fund · Shanghai, Shanghai, China · 3 investments in China Sports startups

The Arena Capital has been jointly established by Guiren Bird (603555), Tigers Sports and Jinglin Capital Management Co., Ltd., focusing on sports industry investment. The mobile domain believes that the sports industry is becoming the core driving force for China's economic growth. It is believed that the people's consumption power isimproving, and Internet technology and reform dividends constitute an opportunity for the outbreak of the sports industry. The dynamic team relies on deepening the accumulation of resources in the sports industry for more than 10 years, and is committed to working with entrepreneurs to promote the brilliant future of Chinese sports.

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Investment focus

  • Industry: Sports, Food and Beverage, Tea
  • Stage:Series A, Angel, Seed
  • Geography: China

Investor stats

  • Total investments: 8
  • Round size: Angel $425k–$1.4M; Series A $2.8M–$5M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Teasure — Teasure is a new modern casual teahouse that offers healthy drinks. It specializes in providing high-end milk tea with lychee, matcha, tangerine, strawberry, and jasmine flavors.Teasure has three stores located in Beijing APM, Youtang, and Xi'an, which are designed by designers from the original research institute, China, and the UnitedStates. It is a company that belongs to Beijing Boiled Leaf Restaurant Management Co., Ltd.
  • GOGO STORE — GOGO STORE (动咖啡) is a mobile coffee car franchise operator, providing customers with coffee made from high quality raw materials such as Arabica beans, imported fresh milk, and moline syrup. GOGO mobile shopkeepers can use the company's mobile application to facilitate business, analyze operations, and more.
  • Next World Culture — Next World Culture is a startup focusing on creating AI-generated virtual humans.
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ZhenFund
VC Fund · Beijing, Beijing, China · 3 investments in China Sports 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:Series A, Seed, Angel
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 374
  • Round size: Seed $650k–$20M; Angel $425k–$21M; Series A $1.4M–$28M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — raised $130M in 2022

Portfolio highlights

  • Ehang — Ehang is a technology enterprise focused on R&D and production in airplane and aircraft field. With the combination of software and hardware techniques, it self-developed the communication and real-time viewing hardware and a smartphone operation system. Its product, Ghost, is accepted as the first truly smartphone app operated intelligentrobot, which is widely used in geographical information surveying, professional television aerial filming, roadshow displaying, disaster rescuing and delivery, surveillance and monitoring, and even expected to play important role in the future logistics areas.Ehang was founded in 2014 by makers from China, America, and Singapore who are enthusiastic about drone flying. The enterprise’s core members graduated from Tsinghua University, Peking University, and Duke University in America.
  • ImageDT — ImageDT is a Enterprise services company.
  • 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.
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Ameba Capital
VC Fund · Shanghai, Shanghai, China · 3 investments in China Sports 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, E-Commerce, Health Care
  • Stage:Angel, Series A, Seed
  • Geography: China, United States, India

Investor stats

  • Total investments: 79
  • Round size: Seed $1M–$4M; Angel $425k–$1.4M; Series A $1.4M–$20M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • MOGU — MOGU is an consumer platform aimed towards women, achieved through e-commerce, social media, influencers and content driven services. Their content covers all areas of the fashion world and they have a huge range of age groups and interest covered through their numerous apps and platform.MOGU Inc. is a destination of fashion. With various kindsof fashion content and abundant fashion products, MOGU Inc. allows people to discover and share fashion trends while fully enjoying high-quality shopping experience. In 2011, MOGU Inc. launched fashion platform under the Mogujie brand . In 2016, the merger of Mogujie and Meilishuo was completed.Currently, MOGU Inc.'s online platform includes Mogujie.com and Meilishuo.com websites, mogujie mobile app, Meilishuo mobile app, Uni mobile app and several WeChat Mini programs.
  • Porotech — All-in-One MicroLEDs for Everyone, Everywhere, Every Device Unleashing the Power of Light Our MicroLED technology revolutionises the way displays are manufactured, making microLED displays possible for everyone. Through our partnerships and dedicated R&D teams we develop new technologies and can succeed together with you. compare to the conventional LED Porotech is here for your every
  • Kuaidi Dache — Kuaidi Group, as the most technologically integrated and largest car service company in the world, is rapidly transforming the concept of moving people – starting in China. The app combines integrated mapping and third party payment technology to make its service accessible to everybody, and provides over 1 million taxis and a variety of standardand luxury cars for all lifestyles. To ensure the service fits smoothly into urban life, Kuaidi has developed a framework is that is adaptable to other platforms in China, and works in partnership with China’s government and regulators instead of against them.In a country where only 18% of per capita car ownership, Kuaidi is clearly meeting an important need. Kuaidi’s unique business model has attracted 100m registered users in over 300 cities, fulfilling 6 million requests per day. To optimize its services and go beyond customer expectations Kuaidi has secured partnerships with Alipay, Ctrip, AutoNavi, Baidu Maps, Qunar, and Beijing’s ‘96106’ government official platform.
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UnityVC
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups

Unity Ventures began in Beijing in 2011 led by Shaw Wang who was one of the 7 founders of Baidu (NASDAQ:BIDU). As one of the leading local early-stage venture capital firms, they have invested in more than 200 startups, focusing on industrial upgrades, emerging technology, enterprise services, consumption internet and entertainment. They believe“Do valuable things, commercial value will follow". They are committed to adding value in the investment cycle and look forward to long-term cooperation with outstanding entrepreneurs.

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Investment focus

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

Investor stats

  • Total investments: 126
  • Round size: Seed $425k–$20M; Angel $283k–$1.6M; Series A $1.4M–$13M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Youbu — Youbu offers clothing supply chain services based on digital printing technology.
  • Aether AI — Aether is building a new class of AI systems that understand mechanisms, reason under intervention, and operate reliably in real-world systems.Aether provides causal World Models for Real-World Intelligence.
  • Euler Universal — Euler Universal is a technology startup focused on the study and development of embedded smart home technologies.
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PreAngel
VC Fund · Beijing, Beijing, China · 3 investments in China Sports 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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36Kr
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups

36Kr was founded in July 2011 as a company dedicated to serve entrepreneurs. Over six years, it has grown into a comprehensive service provider aimed at serving innovative tech companies while being the largest and strongest ecosystem-based platform that boasts comprehensive coverage over a myriad of sectors with a game-changing vision. So far,36Kr consists of three major business segments: 36Kr media, Venture Capital and Kr Space, through which they strive to offer Chinese entrepreneurs and SMEs with one-stop service encompassing providing of information, matchmaking of financing and direct access to funding, not to mention office solutions and relevant incubating services. They aspire to become the platform that provides entrepreneurs and SMEs with ambient services that can help them grow, nothing short of utilities. 36Kr has served over 20,000 startups and helped to secure next round financing for 4,000 firms with free-of-charge services throughout the entire process, supporting startups to embark on their very first steps. Currently, over 90,000 startup projects are being proceeded on the 36Kr on-line platform where 80% of premium projects are hosted. Meanwhile, they have established an investment alliance of top 15 Chinese institutional investors with the mission of offering the best financing support to the most promising bunch of entrepreneurs.Out of recognition of their vision, China’s fintech giant Ant Financial has made a strategic investment in 36Kr so as to better SMEs’ financing needs. In addition, 36Kr is also favored by globally-renowned Matrix Partners China and traditional securities giant China Securities, with both as its shareholders. Another strategic investor – China Merchants Group’s VC was introduced in 2016.

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Investment focus

  • Industry: Manufacturing, Sports, Enterprise
  • Stage:Series A, Seed, Series B
  • Geography: China

Investor stats

  • Total investments: 29
  • Round size: Seed $2.9M–$3M; Series A $1.4M–$14M; Series B $2.8M–$43M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $147M in 2018

Portfolio highlights

  • PureblueAI — PureblueAI is an AI-powered digital workforce platform operator specializing in enterprise marketing scenarios.
  • Shebaotong — Shebaotong provides social security, provident fund, commercial insurance, salary services, labor cost optimization and other services.
  • Shihang Intelligent — Shihang Intelligent is a company that creates water robots and intelligent unmanned equipment. It requires "the ability to fight in wartime and respond in emergencies, with a focus on independent research and development, production, and sales of water robots and intelligent unmanned equipment. The company focuses on surface/underwaterspecial operation robots and takes "being able to fight in wartime, respond in emergencies, and provide peacetime services"
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Crystal Stream Capital
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups, 6 in the past 12 months

Crystal Stream Capital specializes in making early-stage investments in the technology, media, and telecommunications sector.

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $1.6M–$42M; Series A $1.4M–$30M; Series B $7.1M–$30M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • MossCode — MossCode is an AI-powered smart sports wearable brand that integrates advanced artificial intelligence, sensor technology, and data analytics to deliver intelligent, personalized performance and health insights for athletes and fitness enthusiasts.
  • FAIR — FAIR, the first collaborative robot company to realize independent research and development of all core components.
  • XTEINK — XTEINK is an e-ink screen that magnetically attaches to the back of your phone.
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HSG
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups, 10 in the past 12 months

We help founders build enduring companies.

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Investment focus

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

Investor stats

  • Total investments: 751
  • Round size: Series A $4.4M–$100M; Series B $12M–$200M; Series C $26M–$214M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • MarqVision — Effortlessly discover and remove counterfeits to protect your sales and reputation.
  • Midas — Midas is the first neobroker of Turkey, providing zero commission Turkish and American stocks.
  • Yunzhou Zhiwei — Yunzhou Zhiwei is a high-tech startup focused on serving large-scale equipment maintenance industries such as aviation, aerospace, shipbuilding, and rail transit. It leverages smart maintenance concepts and advanced digital technologies to make complex equipment maintenance more efficient and lean. The company drives industrial transformationtoward intelligent maintenance, helping enterprises enhance growth, efficiency, and operational excellence.
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Frees Fund
VC Fund · Beijing, Beijing, China · 3 investments in China Sports 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: 213
  • Round size: Seed $1.4M–$14M; Angel $425k–$17M; Series A $1.4M–$35M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2015

Portfolio highlights

  • SoundAI — Sound Technology is a science and technology innovation company that specializes in acoustics frontier technology and artificial intelligence interaction. It is committed to lead the more interactive experience of artificial intelligence in the real environment and realize the human-computer interaction vision that "listen to you and know whatyou think".
  • Methuselah — Methuselah is a research and development manufacturer of medical nutritional food.
  • Jiajin Biotech — Jiajin Biotech is a pharmaceutical R&D service provider. It specializes in the development of antibody-small nucleic acid conjugates.
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China Equity
VC Fund · Beijing, Beijing, China · 3 investments in China Sports 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, Internet, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 82
  • Round size: Series A $1.4M–$43M; Series B $2.8M–$156M; Series C $14M–$117M
  • Lead/follow: 21% lead, 79% 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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BlueRun Ventures
VC Fund · Menlo Park, California, United States · 3 investments in China Sports startups

BlueRun Ventures is a venture capital firm with offices in the United States, Shanghai, Beijing, and Korea. BlueRun invests in information technology, mobile, and consumer technologies, with an emphasis on mobile opportunities. BRV has invested in over 160 companies, with select exits from PayPal (acquired by eBay), Waze (acquired by Google),Topsy (acquired by Apple), Coupa (NASDAQ: COUP), and more. In 2005, BlueRun changed its name from Nokia Venture Partners. While branded as Nokia Venture Partners, the firm helped to build emerging market leaders such as Airgo, Bitfone, Cornice, PayPal, Wavemarket, and WiderThan.

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Investment focus

  • Industry: Software, Mobile, Robotics
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, South Korea

Investor stats

  • Total investments: 247
  • Round size: Seed $1.4M–$50M; Series A $2.9M–$23M; Series B $5.1M–$30M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $493M in 2019

Portfolio highlights

  • Ganji — Ganji.com is a Chinese domestic classified website.As a web portal in China where users publish and exchange information, Ganji.com has been providing a variety of local information, such as estates for rent or sale, jobs, second hand products, used cars, pets, tickets, education, training, group purchase, and more. Targeting the untapped localbusiness market, Ganji.com is building a massive user- and content-focused online community platform where both the users' and local merchants' needs are met.The website aggregates a large amount of real-time information because by the end of June 2011, there were around 890,000 users posting per day.Launched in 2005, the website has reached users in over 343 cities in China with offices in Beijing, Shanghai, Guangzhou, and Shenzhen.The company completed a $70 million Series C round from Capital Today and Sequoia on May 6, 2011. China Renaissance acted as the exclusive financial advisor for Ganji.com.
  • SaveUp — SaveUp is the first free rewards program for saving money and reducing debt. Users earn SaveUp credits for every dollar saved or debt reduced and can use these credits to play for prizes ranging from travel, cars to even a $2M jackpot. While using SaveUp users are provided financial education, suggestions to improve their financial circumstancesand better financial services. SaveUp can be used with 18,000 financial institutions in the US including rewards for savings accounts, 401k, IRA, or reducing debts like credit cards, car loans, student loans and mortgages.
  • FreeAgent CRM — We help teams to get everything in one place and work collaboratively to get more done while tracking and improving performance.
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Xinyi Capital
VC Fund · Beijing, Beijing, China · 3 investments in China Sports startups

Xinyi Capital is an investment firm based in China.

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Investment focus

  • Industry: Sports, Software, Gaming
  • Stage:Series A, Angel, Seed
  • Geography: China

Investor stats

  • Total investments: 18
  • Round size: Series A $1.4M–$14M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Zhu Zhan — Zhu Zhan is specialized in providing personal care makeup brand.
  • XellSmart — Xellsmart develops stem cell treatment solutions for a variety of degenerative diseases for which there are now no clinical treatments. Xellsmart is located in Minhang District, Shanghai, China.
  • Zero One Auto — Zero One Auto is a new energy-efficient heavy-duty truck developer company.Zero One Auto creates new energy-efficient heavy-duty vehicles with advanced autonomous driving characteristics. The first batch of products is separated into two models, with an emphasis on the new energy heavy-duty truck short-distance freight market.
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Tamarace
VC Fund · Shenzhen, Guangdong, China · 2 investments in China Sports startups

Tamarace is a venture capital private equity firm focusing on investing TMT, mobile Internet, culture, entertainment, O2O, intelligent hardware, smart home, big data, and cloud computing. It was founded in 2011 and grows to over 50 members in 2017.

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Investment focus

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

Investor stats

  • Total investments: 24
  • Lead/follow: no public data

Portfolio highlights

  • Guoyu qianjian — Guoyu Qianjian is a building and operating company that specializes in airbag sports venues. Its operations include sports event organizing, investment, construction, and maintenance of sports venues, as well as fitness and leisure activities. It actively encourages athletic power with its central tenet of "injecting sports genes into everychild". Its airbag sports facilities are more ecologically friendly, low-carbon, energy-efficient, versatile, and adjustable, and they can accommodate various social groups' sporting demands at various times.
  • Huachuang Shenting — Huachuang Shenting is a non-invasive brain AI detection company that develops AI detection technology for cranial and brain health.
  • Xiling Biotechnology — Xiling Biotechnology is a medical company that specializes in the development of oncology and advanced treatments for malignant tumors.
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GSR United Capital
VC Fund · Beijing, Beijing, China · 2 investments in China Sports 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, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Singapore

Investor stats

  • Total investments: 145
  • Round size: Seed $98k–$14M; Series A $298k–$30M; Series B $197k–$50M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Evotrex — Evotrex focused on changing outdoor travel and adventure by introducing clever, power-generating RV trailers geared for self-sufficiency and off-grid exploration.
  • Junhe Atom — Junhe Atom is a company that focuses on Small modular nuclear reactors.
  • 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.
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Shenzhen Capital Group
VC Fund · Shenzhen, Guangdong, China · 2 investments in China Sports 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: 485
  • Round size: Series A $1.5M–$156M; Series B $14M–$142M; Series C $4.3M–$142M
  • Lead/follow: 40% lead, 60% follow

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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Sea of Stars Capital
VC Fund · Huangpu, Shanghai, China · 2 investments in China Sports startups

Chen Hai Capital, Sea Capital Corporation (S Capital) is a venture capital firm institution that focuses information technology and traditional industries to bring opportunities for industrial change. Founded in August 2015, it was co-founded by three well-known investors from Jinglin Assets, Huaying Capital and Innovation Works, Chen Chen, WangWeijun and Chen Yuetian.

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Investment focus

  • Industry: Media and Entertainment, Video, Internet
  • Stage:Series A, Series B, Angel
  • Geography: China

Investor stats

  • Total investments: 12
  • Round size: Angel $2.9M–$8.5M; Series A $1.4M–$12M; Series B $2.8M–$11M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Sinovent — Founded in 2016, Sinovent is a global biopharmaceutical company focused on innovation. Sinovent is centered around global standard excellence through its advanced biotechnology platform, decades of management experience, as well as financial support. Sinovent uniquely combines its expertise in science, management and finance, to develop and promoteadvanced treatment methods to solve worldwide healthcare problems. Currently, the company has 12 products in development, primarily in oncology, auto-immune diseases, and infectious diseases.
  • Just Free — Just Free operates and manages the wholesale markets of agricultural products. With the improvement of people's living standards, the consumption of healthy and safe imported medium and high-end food will inevitably become the mainstream consumption trend in society. The resources of SF Express Group will be used to focus on globalhigh-quality food, and gradually realize the direct production of global origin and shorten the supply chain Allow users to enjoy truly pollution-free, safe and healthy, high-quality and high-quality global cuisine.
  • Castor Studio — Great domain names provide SEO, branding, and a memorable experience for your users. Get a premium domain today.
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IDG Capital
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups

IDG Capital is an investment firm that funds early- to growth-stage companies in the technology sector. Today they work with private equity and venture capital fund managers, investment advisors, and business entities from around the world. Their limited partners include many internationally reputable investors, including sovereign wealth funds,pension funds, institutional investors, major charities, university endowments, family offices, and business luminaries.IDG Capital brings a powerful combination of global perspective and local experience to investment management. As long-term value investors, they are highly skilled at mobilizing global resources to address local needs, especially for Inbound and outbound opportunities in China and the rest of Asia. Their highly skilled team has an in-depth understanding of the Chinese market and enjoys close relationships with many influential business leaders.

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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: 683
  • Lead/follow: no public data

Portfolio highlights

  • Kaiwuji — Kaiwuji is an emerging company in the AI4Materials field.
  • Hongxin Biology — Hongxin Bio is an mRNA drug developer, focusing on nucleic acid drug delivery and RNA drug development.
  • Rongguang Optics — Rongguang Optics is a company specializing in optical instrument manufacturing, along with vacuum coating processing, industrial design services, and plastic product manufacturing.
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BAI capital
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups, 9 in the past 12 months

BAI Capital is a leading venture capital fund in China. Since 2008, the team of BAI Capital has invested in more than 200 portfolios, including 17+ IPOs and 40+ unicorns. BAI Capital has two main focuses: China-based global companies and China’s structural transformation. BAI Capital seeks to partner with and empower outstanding Chinese companiesand entrepreneurs that can leverage the multiplier effect of China’s technology, talent, and supply chain advantages and to expand globally in consumer retail and services, fintech, media and content innovation, Web3 and metaverse. On the other hand, at the turning point of China’s structural transformation, the fund will also seize major cross-cycle disruption opportunities in frontier and infra tech, electric vehicles and autonomous driving, and industrial upgrade driven by enterprise software development.The investor base for BAI Capital includes institutional investors such as sovereign wealth funds, large insurance companies, internet giants and fund of funds globally, as well as Bertelsmann. BAI Capital has its background from Bertelsmann Asia Investments, part of the Bertelsmann Group.

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Investment focus

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

Investor stats

  • Total investments: 139
  • Round size: Seed $4M–$100M; Series A $3M–$50M; Series B $14M–$100M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $700M in 2022

Portfolio highlights

  • Waffo
  • ThetaWave AI — Turn lectures into notes, mindmaps, quizzes & flashcards in real-time. Trusted by 50,000+ students from Stanford, MIT & more. Free to try.
  • Reverse Matrix Technology — Reverse Matrix Technology focuses on the research and development of technologies that combine fundamental world models, enabling advanced simulations, intelligent systems, and data-driven insights to better understand complex environments and support next-generation innovation across industries.
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Yunmu Capital
VC Fund · 2 investments in China Sports startups

Yunmu Capital is a boutique investment bank offering financial consulting and equity investment. Yunmu Capital works with exceptional companies to complete multiple rounds of financing. Yunmu Capital is always focused on the long-term development of the enterprise, offering long-term investment and financing services, strategic consulting, andoperation management consulting based on in-depth research and independent thinking.

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Investment focus

  • Industry: Smart Home, Health Care, Internet of Things
  • Stage:Angel, Series A, Series B
  • Geography: China

Investor stats

  • Total investments: 14
  • Lead/follow: no public data

Portfolio highlights

  • Hohem — Hohem is a world-leading brand dedicated to AI tracking gimbals for video shooting, providing consumer and professional stabilizers for smartphones and cameras.
  • Huaqiu — Huaqiu is an electronic service platform.
  • Xingmai Innovation — Xingmai Innovation creates, develops, and sells intelligent swimming pool cleaning robots.
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Toread Holdings Group
VC Fund · Changping, Beijing, China · 2 investments in China Sports startups

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

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Investment focus

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

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Yeoner — Yeoner is an outdoor sports company that provides video programs, evaluations, and other content for outdoor users via WeChat. They specialize in global outdoor sports and outdoor technology trends as well as smart wearables for outdoor enthusiasts.
  • 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.
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Lighthouse Capital Management
VC Fund · Shanghai, Shanghai, China · 2 investments in China Sports startups

Lighthouse Capital Management is an early venture capital fund focusing on the Chinese and US markets. It has been focusing on angel/VC equity investment in excellent content and products and currently manages two RMB Fund and a dollar fund.The firm has invested in more than 40 growth projects in mainland China and overseas, focusing onhardware equipment and "Internet +" method empowerment and enterprise data services. It is managing billions of dollars in total assets, investing in the total market value of domestic and foreign companies over 100 Billion dollars.Lighthouse Capital was founded in 2011 and is based in Shanghai, China.

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Investment focus

  • Industry: Hardware, Software, Apps
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, Czech Republic

Investor stats

  • Total investments: 35
  • Round size: Seed $1M–$10M; Angel $425k–$850k; Series A $425k–$50M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2015

Portfolio highlights

  • Skysys — Skysys is a company that focuses on data acquisition and analysis services for drones. It provides customers with complete solutions for automatic charging, automatic scheduling, automatic acquisition and automatic analysis. It is committed to becoming the leading enterprise in data collection and analysis of Chinese civil rotary aircraft. From thedata and services to gold mining, the development of mature rotorcraft drone automatic driving artificial intelligence.
  • Boshang — Boshang focuses on vertical industries, building low-cost and high-quality private LTE/5G private networks for enterprise customers, and providing slicing and in-depth customized services for different business needs.
  • Foxdeli — Foxdeli helps online stores stay connected with customers from purchase to unboxing through transactional emails and easy shipment tracking.
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Partech
VC Fund · Paris, Ile-de-France, France · 2 investments in China Sports startups

Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages.

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Investment focus

  • Industry: Software, E-Commerce, SaaS
  • Stage:Series A, Seed, Series B
  • Geography: United States, France, Germany

Investor stats

  • Total investments: 539
  • Round size: Seed $1.1M–$9M; Series A $4.2M–$27M; Series B $9M–$55M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Agicap — Agicap develops and sells a SaaS platform for SMBs to manage and forecast their cash flows. Agicap allows business owners to build dynamic, reliable forecasts and have real-time visibility over their current and future cash position. This data, which can be easily shared with banks, makes it easier for SMBs to access financing options and reducesthe risk of bankruptcy.
  • Teknovus — Teknovus, Inc., a fabless semiconductor and software solutions company, develops and supplies access chips and embedded software for the FTTx market. It offers Ethernet passive optical network (EPON) integrated chips for central office and customer premises applications; EPON customer premises equipment ONU; TDM transport chips that provide thecircuit emulation of T1/E1/J1 on various Ethernet switched networks; evaluation kits, which support original equipment manufacturers and service provider customers; EPON OLT solutions that offer a system-on-a-chip approach to the original equipment manufacturers; and TK3401 Intelligent EPON Node Controller that enables service providers to meet various needs of network topologies and subscriber densities. The company’s system-on-a-chips incorporate firmware for the embedded processor to control the hardware. Teknovus, Inc. markets its products through distributors in the United States, Europe, and China. Teknovus, Inc. was founded in 2002 and is headquartered in Petaluma, California with sales and support centers in Tokyo, Seoul, Beijing, Shanghai, and Shenzhen. The company also has a location in San Jose, California.
  • Almentor — almentor.net is a cutting-edge continuous e-learning platform curating top-rated video-based training programs delivered by leading subject matter experts and accessible through B2C and B2B channels to serve the needs of Arabs across the world. The platform was officially launched in January 2018 and currently offers the biggest Arabic high qualitycontinuous learning video library in the world, including paid courses, free talks, crash courses and books, primarily in Arabic.
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Qingsong Fund
VC Fund · Shenzhen, Guangdong, China · 2 investments in China Sports startups

Founded in June 2012 by Liu Xiaosong, Dong Zhanbin, and Su Wei, three Internet and investment circle veterans, Qingsong Fund is an early venture capital firm specializing in investment in education, social networking, consumerism, innovation, technology and applications. It manages four RMB funds with a total value of about RMB 2 billion. So far,it has invested in more than 140 companies, including 1 to 1 head, 1 DaDa English, squirrel AI, onion mathematics, wedding calendar, werewolf killing, flystep technology, HomeFacial. Pro and other star projects - 50% exit project returns more than 60 times, multiple project valuation multiples increased nearly 200 times, and educational projects have an average annual value increase of 500%. Among them, the Qingsong Smart Fund, which was newly established in 2018, focuses on the underlying technologies of the underlying AI and Smart Connect, as well as investment in such areas as smart healthcare, enterprise services and intelligent transportation applications. Liu Xiaosong, founding partner of Qingsong Fund, is a Ph.D. student at Tsinghua University. He invested in Tencent in 1999 and has a return on investment of tens of thousands of times. In 2000, he founded A8 New Media Group, which was successfully listed on the main board in Hong Kong in 2008. In 2015, he hatched in November 2018. Listed in Hong Kong stocks in the year. As a leading early investment institution in China, Qingsong Fund and its founding partners have repeatedly won Top 10 of Zero2IPO China's early investment institutions/investors, Top10 of China's education sector, Top100 of Chinese investors, and China's best early venture capital investment. Institution/Investor Top10; 36氪 China's new entertainment sector investment institutions Top10, online education sector investment institutions/investors Top10 and other mainstream awards.

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Investment focus

  • Industry: Manufacturing, Internet, Education
  • Stage:Series A, Angel, Seed
  • Geography: China, United States, Canada

Investor stats

  • Total investments: 133
  • Round size: Seed $1.4M–$28M; Angel $142k–$1.6M; Series A $1.4M–$17M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — raised $138M in 2021

Portfolio highlights

  • Apex Laser — Apex Laser is a company that focused on the research and development of semiconductor laser equipment that offers laser processing solutions for materials that are ultra-thin, ultra-hard, brittle, flexible, or composite.
  • Itanium Innovation — Itanium Innovation is a technology company providing integrated integration solutions for distributed edge computing microdata centers.
  • Xinghong Technology — Xinghong Technology focuses on the research, development, and manufacturing of CNC machine tools and core components, with its business spanning mechanical and electrical equipment, precision manufacturing solutions, industrial automation systems, and advanced machinery services for a wide range of industries.
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Agile Fund
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups

Agile Fund was established in 2015 by a group of experienced Chinese venture capitalists with a very clear focus on the Chinese sports, fitness and wellness related industries. Since its inception, Agile Fund has made some 20 investments in various industries encompassing TMT, fitness, technology, marketing & new media, health care and consumergoods etc. Their GP team comprises of professional investors, seasoned entrepreneurs, senior marketing experts and highly experienced financial and research professionals. Their GP team has a diverse background and they are both strong in their over-all understanding of the Chinese business environment and their global outlook as well as international outreach. Agile Investment Management is one of the few in the market in terms of being able to stay clear-headed and sticking to their investment philosophy and discipline in the Chinese investment bubble in recent years. Their investments made in the past two years all exceeded expectation, which makes Agile Fund Management a recognized team in domestic Chinese VC community.

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Investment focus

  • Industry: Fitness, Health Care, Mobile
  • Stage:Series A
  • Geography: China

Investor stats

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

Portfolio highlights

  • I-Fitness — Fitness social networking app based in Shanghai.
  • myShape — myShape is an innovative AI personal trainer system.
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Mount Morning Capital
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups

Mount Morning Capital is an investment firm that invests in healthcare and TMT industries.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Series A, Seed, Series B
  • Geography: China

Investor stats

  • Total investments: 36
  • Round size: Seed $14M–$14M; Series A $1.4M–$24M; Series B $3M–$38M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • AI-LINK — AILINK is committed to being a pioneer and leader in mobile network and edge computing infrastructure in the AI era. The company currently focuses on intelligent manufacturing and other digital transformation scenarios. Its products are built on OICT (Operational and Information Communications Technology) integration, with a focus on industrial environments. AILINK offers end-to-end, scenario-driven 5G-to-B products and solutions, providing seamless industrial adaptation, enhanced smart operations, and simplified management. This enables plug-and-play deployment of private 5G network, accelerating the growth of new productivity models.
  • Kernelsoft — Kernelsoft focuses on automotive software and intelligence solutions. Its products and services are driven by autonomous systems that provide dependable safety verification.
  • Zhongke Jiahe — Zhongke Jiahe develops compilation technology and aspires to build a universal, low-cost, high-performance fundamental software tool chain.
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Cathay Capital
VC Fund · Paris, Ile-de-France, France · 2 investments in China Sports startups

Cathay Capital is a global private equity and venture capital investment firm supporting companies at every stage of their lifecycle.

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Investment focus

  • Industry: Manufacturing, Health Care, Biotechnology
  • Stage:Series B, Series A
  • Geography: China, France, United States

Investor stats

  • Total investments: 145
  • Round size: Series A $14M–$100M; Series B $14M–$125M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: Likely still investing — raised $558M in 2022

Portfolio highlights

  • ImageDT — ImageDT is a Enterprise services company.
  • Shenfu Jianxing
  • Ascendia Autism Care — Ascendia Autism Care is a clinician-led platform behind trusted autism services. The company believes that the best autism care is delivered by organizations deeply embedded in their communities.
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Zero2IPO Ventures
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups

Zero2IPO Ventures is the venture investment arm under Zero2IPO Group targeted at high-potential, high-growth China enterprises. Leveraging Zero2IPO's vast network in China, Zero2IPO Ventures does not compete with other venture funds, but rather pursue a two-prong investment strategy, i.e. to co-invest with active venture capital firms ingrowth and late stage companies and to lead or co-lead in early stage startups in China. The industry focus includes Internet, mobile and wireless applications, digital media, healthcare, green-tech, consumable products and services, as well as other emerging sectors. We intend to leverage the extensive network that has been created by Zero2IPO Group, a leading venture capital and private equity market research and financial advisory company, to seek out potential investment opportunities and provide a strong value-add to our portfolio companies. Through its venture capital and private equity surveys, investment forums, training programs, and investment advisory services, Zero2IPO Group has developed a strong reputation in the China market for helping entrepreneurs connect with investors.

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Investment focus

  • Industry: E-Commerce, Internet, Education
  • Stage:Series A, Series B, Angel
  • Geography: China, Taiwan, India

Investor stats

  • Total investments: 86
  • Round size: Angel $142k–$1.4M; Series A $1.4M–$29M; Series B $2.9M–$42M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: May invest from a new fund soon — raised $40M in 2014

Portfolio highlights

  • Makera — Makera builds the smartest desktop CNC machines for makers. Explore our Carvera series, versatile mill routers, and rich case templates for every project.
  • Xuntu Technology — Xuntu Technology is a leading data intelligence provider specializing in investment research and decision-making solutions.
  • Ruidong New Energy — Ruidong New Energy provides power systems for new energy and electric vehicles. The company specializes in the design and manufacture of power systems for new energy and energy-efficient automobiles.
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Tengxun Touzi
VC Fund · Shenzhen, Guangdong, China · 2 investments in China Sports startups

Tengxun Touzi is a investment firm.

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Investment focus

  • Industry: Information Technology, Software, Gaming
  • Stage:Series A, Angel
  • Geography: China

Investor stats

  • Total investments: 114
  • Round size: Angel $425k–$2.8M; Series A $1.4M–$14M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • LibLib AI — LibLib AI is an AI image generation platform that provides cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. It is a subsidiary of Beijing Singularity Star Technology Co., Ltd.
  • Zenitar — Baoling Bio is an innovative drug research and development and industrialization service provider. The company's research and development pipeline covers the research and development of innovative drugs such as tumors (solid tumors and hematomas), autoimmune diseases, and cytokine storms caused by new coronavirus pneumonia.
  • Sudu Technology
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SkyChee Ventures
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups

SkyChee Ventures focuses on Hardware as a Service investments that combine highly competitive Asian manufacturing capabilities with global software and talent to enable new business models and revenue opportunities. They create value by combining global markets with technology innovation and value-add services. They focus on early stage technologyenabled investment opportunities.

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Investment focus

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

Investor stats

  • Total investments: 36
  • Round size: Seed $2.8M–$8M; Angel $425k–$425k; Series A $1.4M–$16M
  • Lead/follow: 61% lead, 39% follow

Portfolio highlights

  • DeePoon — DPVR is a virtual reality headset designer and manufacturer that makes cutting edge VR wireless and PC tethered headsets for gaming, training and education.
  • Future Box — Future Box is a provider of prefabricated industrial digital decoration solutions. It focuses on modular decoration and incorporates software R&D, design, supply chain, and overall installation and implementation services.
  • Moying Robotics — Moying Robotics is an enterprise that focuses on the development of mobile collaborative robots and application integration systems.
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Fosun International
VC Fund · Shanghai, Shanghai, China · 2 investments in China Sports startups

Fosun International Limited is a Hong Kong-based investment holding company engaged in financial, property, steel, and healthcare businesses. The Company has nine segments. Insurance operates and invests in insurance businesses. Investment is engaged in strategic investment, private equity investment, venture capital investment, and secondarymarket investment.Fosun International Limited was founded in 1992.

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Investment focus

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

Investor stats

  • Total investments: 121
  • Round size: Series A $1.4M–$16M; Series B $4M–$35M; Series C $4.3M–$97M
  • Lead/follow: 45% lead, 55% follow

Portfolio highlights

  • ROBOT++ — Robot++ is a research and development of intelligent robots company.
  • Tong Tong Pay — Tong Tong Pay has a financial payment system and has developed payment products such as fast payment, online banking payment, account payment, certified payment, and prepaid card payment. It is a financial payment service provider. For inquiries, email, telephone numbers, and physical addresses are available on their website.
  • Digital Asset Clearing Center — DACC's technology links blockchain networks with conventional payment infrastructure, such as China's Cross-Border Interbank Payment System (CIPS), to offer clearing and settlement services for tokenized assets.
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Loyal VC
VC Fund · Toronto, Ontario, Canada · 2 investments in China Sports startups

Loyal runs a global venture fund with quarterly redemptions and a proprietary gate-stage process, reducing investment bias and unlocking greater returns. Partnered with INSEAD, Founder Institute, and 500+ advisors, we are Loyal to the world with 250+ investments in 50+ countries.

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Investment focus

  • Industry: Artificial Intelligence, Software, FinTech
  • Stage:Pre-Seed, Seed
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 153
  • Round size: Seed $100k–$2.5M; Pre-Seed $30k–$1M
  • Lead/follow: 12% lead, 88% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Peerby Classic — Borrow and rent goods from others nearby - affordable, convenient and green. Tools, bikes, party equipment, electronics and more. Try it now.
  • Zobi — Zobi’s not just Artificial Intelligence, it’s Home Intelligence. Our smart, brand-agnostic solutions take a holistic view of homes - people, devices, networks, habits. They build an anonymous profile for each home, then use that intel to spot unusual behaviour and stop cybercriminals.
  • Finverity — Finverity provides technology, working capital and expertise to give banks, NBFIs, financiers and companies a strategic advantage in supply chain finance
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Legend Star
VC Fund · Beijing, Beijing, China · 2 investments in China Sports startups, 10 in the past 12 months

Legend Star helps entrepreneurs create great businesses through investments, CEO training sessions and an entrepreneurs alliance.Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated in the Chinese entrepreneurial ecosystem.Legend Star is the independent early-stage investment arm of LegendHoldings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies.

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Investment focus

  • Industry: Health Care, Medical, Robotics
  • Stage:Series A, Seed, Angel
  • Geography: China, United States, France

Investor stats

  • Total investments: 143
  • Round size: Seed $1.4M–$19M; Angel $425k–$7.1M; Series A $1.4M–$112M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $109M in 2018

Portfolio highlights

  • Dongxi Fusion — Dongxi Fusion is an emerging energy technology promotion and technical service provider. The company is dedicated to providing technical services and advancing the adoption and deployment of new energy innovations.
  • LifeLabs Design — LifeLabs patented warming & cooling technology allows for comfort across extreme temperatures. Explore our dedication to producing sustainable & eco-friendly fabrics.
  • StarNuclear Fusion — StarNuclear Fusion is focused on the "high-temperature superconductivity + advanced quasi-isotropic propulsion (QI)" stellarator technology roadmap.
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Scrum Ventures
VC Fund · San Francisco, California, United States · 2 investments in China Sports startups

Scrum Ventures is an early-stage venture firm that has invested in over 80 startups across a range of industries in the U.S. and Japan. Based in San Francisco with extensive experience and networks in both Silicon Valley and Japan, Scrum Ventures accelerates portfolio companies with global opportunities. Scrum Studios is reinventing the traditional accelerator -- taking a stage-agnostic approach in connecting best-in-class startups with leading Japanese corporations.

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Investment focus

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

Investor stats

  • Total investments: 141
  • Round size: Seed $1.3M–$9.7M; Series A $6M–$31M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • BiPSEE — BiPSEE is a medical XR company that provides treatment support for children for the purpose of nurturing a sense of self-efficacy. They also deploy AR and VR animation with one button dentistry and medicine, whether outpatient or hospitalized in various situations your child's anxiety and pain relieve. It aims to reduce anxiety and pain inchildren in a wide range of medical fields such as dentistry, pediatrics, and dermatology.BiPSEE is abs ed in Tokyo, Japan.
  • SEQUENTIAL — 5,971 Followers, 1,054 Following, 268 Posts - See Instagram photos and videos from Sequential Skin (@sequential.skin)
  • ALT Sports Data — Real Time Alternative Sports Betting Data.
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Kleiner Perkins
VC Fund · Menlo Park, California, United States · 2 investments in China Sports startups

Kleiner Perkins is an American venture capital firm headquartered on Sand Hill Road in Menlo Park in Silicon Valley.

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Investment focus

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

Investor stats

  • Total investments: 1161
  • Round size: Series A $5M–$50M; Series B $10M–$74M; Series C $12M–$110M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Airware — Airware is an enterprise drone analytics company enabling enterprises to harness aerial data and turn it into valuable business insights that can be shared and acted on across sites, teams, and geographies. Their solutions enable enterprises to reinvent their organizations for the digital era by translating aerial data into business impact. Dronesare enabling companies to more efficiently and effectively capture data, and Airware allows enterprises to integrate this data with existing information and workflows to improve efficiency, productivity, and safety. Airware provides aerial insights drone solutions for insurance, mining, construction, and aggregates.
  • Telogis — Telogis provides a comprehensive cloud-based Mobile Enterprise Management (MEM) software platform for companies that require dynamic routing, real-time work order management, navigation, telematics and mobile integration services for their mobile workforces. Telogis’ consistent innovation drives its ability to provide near-instant return oninvestment while improving driver safety and efficiency and reducing the environmental impact of commercial vehicles. Founded in 2001, Telogis is headquartered in Aliso Viejo, Calif. and has development and support centers in Australia and New Zealand, Latin America, Europe and throughout North America. Its products and services are used and distributed in more than 100 countries worldwide.
  • Nextdoor — Nextdoor is the neighborhood hub for trusted connections and the exchange of helpful information, goods, and services.
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Ivy Capital
VC Fund · Shanghai, Shanghai, China · 2 investments in China Sports startups

Ivy Capital is a premier venture capital and growth equity firm that finances early- or growth-stage companies. They invest in high-growth businesses with defensible business model, strong management team and huge market potential.

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Investment focus

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

Investor stats

  • Total investments: 87
  • Round size: Seed $2.8M–$14M; Series A $1.4M–$14M; Series B $2.8M–$20M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Shenglan Semiconductor — Shenglan Semiconductor is a professional enterprise engaged in the research, development, production, and sales of piezoelectric materials and related products, providing high-performance and reliable solutions for a wide range of electronic, industrial, and semiconductor applications.
  • West Lake Yanshan Technology — West Lake Yanshan Technology is a micro-LED company that focuses on the manufacturing and production of full-color display chips.
  • Xinyan Intelligent Materials — SynMatAI is a technology company specializing in materials informatics and AI innovation. They leverage artificial intelligence, quantum physics, and computational chemistry to advance research and development in new materials, clean energy, semiconductor packaging, and more. Their goal is to deliver diverse technical products and services toindustries, with a focus on new polymer materials for next-generation semiconductors.
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Volcanics Venture
VC Fund · Changning, Shanghai, China · 2 investments in China Sports startups

Volcanics Venture was founded in May 2016. They identify, invest in, and serve the most promising companies and outstanding entrepreneurs in Internet Innovation, Intelligent Technology and Healthcare industry. Managing Partners Suyang Zhang, Yeshun Dong and Ying Wu have been working closely for years as first-class USD/RMB fund managers.They have more than 60 years of aggregated VC investment and corporate management experience, as well as in-depth understanding of three focused fields. Volcanics Venture brings a powerful combination of global perspective and local experience to investment management, striving to provide sustainable value-added service to their portfolio companies and bring superior return to their limited partners.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, Biotechnology
  • Stage:Series A, Series B, Seed
  • Geography: China, United States, Hong Kong

Investor stats

  • Total investments: 102
  • Round size: Seed $350k–$17M; Series A $425k–$21M; Series B $5.7M–$60M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $73M in 2018

Portfolio highlights

  • Huleen — Huleen is committed to opening up application boundaries and bringing together more information.
  • Unisic — Unisic designs and manufactures silicon carbide core power components. Unisic develops sets of products based on silicon carbide and has applied silicon carbide power modules to aviation, new energy power generation, high-end medical care, oil exploration, lighting, new energy vehicles, data centers, and other important fields.
  • EVAS Intelligence — EVAS Intelligence is an autonomous driving chip startup. The company was founded by Liu Hui.
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Sports VC funding in China at a glance

Stats across 169 deals from 256 investors.

256
investors
in China Sports startups
169
deals
in China Sports startups
$2.9M
median round
in China Sports startups
35%
lead investors
lead at least one round
30%
Series A
most common funding stage

Access all 256 VC funds in China Sports startups.

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