Cowin Capital

Cowin Capital, established in 2000, is a Shenzhen-based private equity firm specializing in early-stage investments. With 18 years of experience, it focuses on supporting the growth of small and medium enterprises, primarily in the energy, communication, electronics, and environmental protection sectors. Cowin Capital takes a long-term approach, aiming to create value through strategic partnerships and operational support. It has successfully invested in over 300 companies, with 60 becoming publicly listed and 150 achieving successful exits. Notably, Cowin Capital was one of the first venture capital institutions to be listed on the New Third Board (NEEQ) in China.

Ding Baoyu

Managing Director, Partner

Li Chao

Partner

Kai Chen

Partner

David Ding

Managing Partner

Dong Dongdong

Partner

Wang Jing

Partner

Huang Li

Founding Partner and CEO

Peng Qian

Risk Control Partner, Interlayer Business Partner

Zhongcheng Tang

Managing Partner

Zheng Weihe

Chairman, Founding Partner

Cai Weiliang

Partner

Yanbin Xi

Partner

Yang Xiaomin

Managing Director

Duan Yao

US Dollar Fund Partner

Tong Zaiping

Partner

Zhang Wenjun

Partner

Zhang Yiwei

Partner

Peng Zhang

Partner

Alex Zheng

Founding Partner and Board Chairman

Tang Zhongchen

Managing Director, Cowin Partner

Shu Qing

Partner

Wang Peng

Investor

Past deals in Semiconductor

Yunshen Technology

Series A in 2025
Yunshen Technology is a manufacturing company that provides production and raw materials solutions for the semiconductor industry.

Wolei Technologies

Funding Round in 2025
Wolei Technologies specializes in the development of advanced automotive power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company provides a range of comprehensive intelligent solutions, encompassing both software systems and hardware equipment designed for automation and intelligent measurement. Its products support various sectors, including electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Wolei Technologies is recognized for its leadership in production, sales, and market share within the industry, bolstered by affiliations with provincial business technology centers and high-tech R&D facilities.

Zibo Xincai

Series B in 2024
Zibo Xincai is an integrated circuit manufacturing company that focuses on the development, manufacturing, and sales of core materials for semiconductor packaging.

Zhongde Technology

Seed Round in 2024
Zhongde Technology specializes in the R&D and manufacture of VC Lids for chip packaging.

Lianjie Technology

Seed Round in 2024
Lianjie Technology is a semiconductor material company that provides integrated circuit chip and product manufacturing services.

Apex Laser

Seed Round in 2024
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.

Feiduwei

Angel Round in 2024
Feiduwei specializes in researching and developing mixed digital and analog circuits, including signal chain and power-related chips.The devices are utilized in automotive electronics, industrial control, consumer electronics, and various other applications.

Shifan Microelectronics

Seed Round in 2024
Shifan Microelectronics offers intelligent display SOC chip design and development services. Shifan Microelectronics is primarily concerned with the research and development of display processing and device technologies.

Chengling Microelectronics

Seed Round in 2024
Chengling Microelectronics is a company that produces high-performance power management chips. It is primarily involved in the research & development, design, manufacturing, and selling of high-performance power management chips. Its product applications include server and notebook computer power supplies, new energy inverter systems, and automotive electronics. Chengling Microelectronics focuses on cutting-edge power management chip technology and leverages local industry chain resources to meet mid-to-high-end power management product demands.

Parkson Optoelectronics

Venture Round in 2024
Parkson Optoelectronics specializes in the provision and manufacturing of optical glass products tailored for the electronics industry. The company focuses on the research and development of materials such as high-end piezoelectric crystals, blue glass for camera filters, glass-ceramic covers for mobile phones, and periscope prisms used in mobile phone cameras. With a commitment to delivering industry-leading standards, Parkson Optoelectronics offers cold processing services for hard and brittle materials, ensuring high-quality products for its clients.

Yuanxin Semiconductor

Angel Round in 2023
Yuanxin Semiconductor is a high-performance analog chips and third-generation semiconductor chip suppliers.

Evolusia

Venture Round in 2023
Evolusia specializes in the R&D and production of substrates for cutting-edge semiconductor materials like gallium oxide, a fourth-generation semiconductor.

Shanhai Semiconductor

Series A in 2023
Shanhai Semiconductor is a high-performance digital-analog hybrid and signal chain chip developer.

Capcon

Series B in 2023
Capcon is a developer and manufacturer specializing in semiconductor assembly and packaging equipment. The company provides advanced products and innovative solutions tailored for the semiconductor assembly and packaging industry. Its diverse product line includes Flip-Chip Bonders, Chip-on-Wafer Bonders, Package-on-Package Bonders, Stack Die Bonders, Panel-Level Die Bonders, and Multi-Chip Die Bonders. These offerings enable clients to utilize high-precision, high-speed, and high-reliability semiconductor equipment, thereby enhancing productivity in their operations.

Yaoxin Technology

Series C in 2022
Yaoxin Technology is a MEMS sensor chip provider specializing in power devices, smart sensors, and signal chain ICs.

Huachen Core Light

Angel Round in 2022
Huachen Core Light is a semiconductor technology company that produces and manufactures optical communications and laser chips.

PowerValue

Seed Round in 2022
PowerValue is a professional supplier of integrated circuit testing equipment and solutions, catering to the semiconductor industry. The company specializes in the testing of integrated circuit chip wafers and finished products, leveraging advanced design and research capabilities. As a national high-tech firm, PowerValue offers comprehensive testing solutions tailored to meet customer needs, along with exceptional after-sales support. Its steady growth can be attributed to the dedication of its founding team and the advancements in technology within the industry.

Guoyi Quantum

Series C in 2021
Guoyi Quantum is a company that uses quantum precision measurement as its core technology to provide enterprises, governments, and research institutions around the world with core key devices represented by enhanced quantum sensors, scientific instruments and equipment for analysis and testing, and enable industry applications. Products and services such as core technology solutions. The company faces the fields of advanced materials, semiconductors, quantum science, life technology, medicine and clinical research, and is committed to helping customers promote the development of technology more efficiently and explore the future of mankind.

Jade Bird Display

Series A in 2021
Jade Bird Display (Shanghai) Limited is a manufacturer specializing in the development and production of micro-LED display chips and panels, primarily designed for augmented reality (AR) and virtual reality (VR) applications. Founded in 2015 and headquartered in Shanghai, with an additional office in Hong Kong, the company focuses on creating the smallest, brightest, and most efficient micro-display technology. Its products are utilized in a variety of applications including head-up displays, projectors, weapon sights, 3D printing, and microscopes. By providing ultra-compact micro-display panels and light engines, Jade Bird Display enables original equipment manufacturers to enhance user comfort and outdoor readability, while also extending operating times between charges for next-generation AR and VR hardware.

Hypersics Semiconductor

Series A in 2021
Hypersics Semiconductor Co Ltd is a prominent semiconductor company based in Yizheng, China, specializing in the research, development, and industrialization of 6-inch silicon carbide substrates. The company focuses on integrating innovative overseas technologies with domestic resources to enhance its capabilities. It has established a strong research and development team by attracting both overseas returnees and foreign experts, thereby fostering a high level of expertise within the organization. Hypersics Semiconductor aims to lead advancements in the semiconductor industry, particularly in the growing field of silicon carbide technologies.

FDMTEK

Seed Round in 2021
Zhongke Benyuan manufactures digital signal processor (DSP) chips. It provides DSP products and solutions for industrial control, renewable energy, electric vehicles, household appliances, rail transit, and other applications.

Sineva

Private Equity Round in 2021
Hefei Sineva Intelligent Machine Co., Ltd., established in 2013 and located in Hefei, China, specializes in the research, development, manufacturing, and sales of transfer, test, and service robots. The company operates under the umbrella of Zhejiang Qianjiang Biochemical Co., Ltd. Sineva focuses on providing AI-based machine vision solutions and advanced materials that cater to semiconductor production and drug development. Its business encompasses four main areas: intelligent manufacturing machinery, advanced materials, artificial intelligence, and aircraft. By addressing critical technical gaps in the domestic pan-semiconductor industrial robot sector, Sineva positions itself as a key player in the evolving landscape of intelligent manufacturing.

TBSTest

Series C in 2021
TBSTest Technology is a developer and manufacturer of automatic test equipment for integrated circuits, specializing in ultra-large-scale integrated circuit testing. Founded in 2017 and headquartered in Beijing, China, with additional offices in Xi’an and Shanghai, as well as Suwon, South Korea, the company provides a comprehensive range of products, including test boards, software solutions, and memory systems. TBSTest Technology also offers pre-sales and after-sales support for its equipment, accessories, and software systems, along with application development projects. The company serves a diverse clientele, including clients engaged in integrated circuit design and production, as well as scientific research institutions and educational establishments.

ANNGIC (Shenzhen Anzhijie Technology Co.)

Series A in 2019
ANNGIC (Shenzhen Anzhijie Technology Co., Ltd.) is a high-tech company focusing on millimeter-wave radar sensors and focusing on smart applications of sensors. As one of the earliest companies in China to have the core R&D technology, complete design capability and experience data of millimeter wave radar sensors, An Zhijie has independently developed leading 24 GHZ and 77 GHz millimeter wave radar sensors and obtained many technical patents. Certification.

Wolei Technologies

Post in 2018
Wolei Technologies specializes in the development of advanced automotive power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company provides a range of comprehensive intelligent solutions, encompassing both software systems and hardware equipment designed for automation and intelligent measurement. Its products support various sectors, including electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Wolei Technologies is recognized for its leadership in production, sales, and market share within the industry, bolstered by affiliations with provincial business technology centers and high-tech R&D facilities.

PhotonIC Technologies

Series B in 2017
PhotonIC Technologies is a chip company based in Shanghai, China, specializing in the development of integrated optoelectronic circuits. The company focuses on designing and commercializing high-speed, low-power optoelectronic integrated chips that cater to various applications, including data centers, 5G transmission, and 3D time-of-flight smart sensing. Utilizing proprietary CMOS technology, PhotonIC Technologies aims to deliver competitive chips that excel in performance, power efficiency, and cost-effectiveness. The company collaborates with research institutions and industry partners to advance its chip technology and support the growing demands of optical networking and Internet of Things (IoT) sensing systems.

Anyang Phoenix Photovoltaic Technology

Venture Round in 2011
Anyang Phoenix Photovoltaic Technology Co., Ltd. (安阳市凤凰光伏科技有限公司) is a company focused on research and development of high-performance photovoltaic products. It specializes in R&D and production in the links including crystalline silicon ingot, square-shaping, wafer-cutting, and more. Anyang Phoenix Photovoltaic Technology Co., Ltd. Owns Anyang Phoenix new energy Co., Ltd., Shanghai City Pvphoenix Sunny Energy Technology Co., Ltd., and Anyang Wantai Lizhong Technology Co. Ltd. They respectively work on the production of solar batteries and solar battery components, system development and project construction of photovoltaic plants, and mortar's recycling production and reuse, forming the production and service mode of the whole industry chain from silicon wafer production to power plant development and construction.
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