Fresh Capital

Fresh Capital is a venture capital firm established in 2017 and based in Shanghai, China. The firm specializes in investing in consumer product and service companies, particularly those in the fast growth stage. Its investment focus includes sectors such as home and family, food and beverage, children and maternity, education, body and wellness, and consumer finance. Fresh Capital aims to support entrepreneurs by providing comprehensive value-added services, positioning itself as a founders' fund. The firm has a track record of achieving outstanding historical returns and boasts a strong network within the consumer sector, with many of its past investees becoming anchor limited partners.

Shuyang Cao

Partner

Vincent Chen

Associate

Karl Dong

Associate

Zoey Gong

Investment Director

Irene Lu

Director

Jason Shi

Associate

33 past transactions

Tianrui Technology

Angel Round in 2025
Tianrui Technology focuses on catalytic technology, cutting-edge hydrogen energy technologies, and provides a full set of solutions for hydrogen production by water electrolysis. It is committed to the research and development and production of hydrogen production technologies.

OPTTEN Energy

Series B in 2024
Optten Energy is a technology and service company specializing in the chemical and energy sectors, focusing on the oil and gas industry, petrochemicals, hydrogen energy, and energy storage solutions. The company offers a comprehensive range of equipment and services that facilitate oil and gas extraction, processing, and transportation, as well as petrochemical reactions and energy transformation technologies. With a strong emphasis on decarbonization, Optten Energy is committed to advancing sustainable energy practices and supports the entire energy value chain. Its expertise lies in merging international resources with domestic market development, allowing for effective industry influence and innovation in energy-intensive sectors.

Jifeng Technology

Seed Round in 2024
Jifeng Technology is a developer of industrial vertical AI large models, offering AI overall solutions for energy, equipment, and process scenarios in process industries in order to improve efficiency and minimize emissions.

Yili Electromagnetic Technology

Venture Round in 2024
Yili Electromagnetic Technology specialized in the design, development, and manufacturing of vital parts for sophisticated automobile intelligent electronically controlled suspensions, such as solenoid valves.

Zhongke Kele

Seed Round in 2024
Zhongke Kele offers high-end polyolefin catalysts and materials.

Beike Yunhong

Series A in 2024
Beike Yunhong is a new materials company focused on the disposal of hazardous waste and multi-source bulk industrial solid waste. The company specializes in developing and providing technologies for recycling these materials, transforming them into low-carbon cementitious products. Its primary offerings include burn-free cementitious materials made from all-solid waste, which cater to the construction materials sector. By providing innovative technical solutions, Beike Yunhong aims to contribute to sustainable industrial practices and reduce the environmental impact of waste in the building materials industry.

Qiyuan Core Power Technology

Series B in 2024
Qiyuan Core Power Technology provides services and solutions for green energy.

Huayi New Energy

Series B in 2023
Huayi New Energy is a high-tech enterprise specializing in the research, development, and production of evaporative cooling and energy-saving air conditioning solutions. The company's products are designed for various applications, such as data centers, communication equipment rooms, large venues, commercial buildings, and industrial plants. By focusing on innovative cooling technologies, Huayi New Energy aims to provide clients with efficient and intelligent air conditioning solutions that enhance energy conservation and operational effectiveness.

CarPro

Series A in 2023
CarPro is an automotive head-up display system developer company. The company's offerings include the rear-mounted CarPro Mini, the front W-HUD, the pre-installed AR-HUD, and the quasi-front W-HUD. The company enables travel by providing unique technology services.

Juno capital

Series A in 2023
Juno capital is a low-carbon service operator.

Ensonic

Series B in 2023
Ensonic specializes in acoustic detection AI technology for industrial applications. The company develops industrial acoustics monitoring solutions that extract the characteristics of mechanical motion, allowing for real-time monitoring of industrial equipment. Its products facilitate accurate diagnostic results and are applicable across various sectors, including industrial intelligent manufacturing, energy, electric power, and rail transit. By enabling customers to effectively manage and monitor machine performance, Ensonic contributes to enhanced operational efficiency and reliability in diverse industrial settings.

Legend Energy

Series B in 2023
Legend Energy specializes in clean, low-carbon energy storage solutions, offering a range of products and services designed for efficient energy management. The company focuses on integrating software and hardware for lithium battery storage, leveraging advanced artificial intelligence algorithms and energy storage system integration technology. Its portfolio includes an energy Internet of Things (IoT) platform, a smart energy digital platform, energy storage systems, and microgrid systems. By providing these innovative solutions, Legend Energy aims to help enterprises enhance their operational efficiency while utilizing clean energy.

NetVios

Seed Round in 2022
NetVios is a joint venture based in Hangzhou, China, formed by NetEase and Survios, specializing in the publishing and distribution of immersive virtual reality games targeted at the Chinese home and arcade markets. The company aims to deliver world-class immersive experiences to Chinese players through a dual distribution model that integrates both online and offline channels. By operating experience stores and adapting to the evolving consumption patterns of China's new retail landscape, NetVios effectively combines traditional internet engagement with innovative gaming experiences.

Huayi New Energy

Series A in 2022
Huayi New Energy is a high-tech enterprise specializing in the research, development, and production of evaporative cooling and energy-saving air conditioning solutions. The company's products are designed for various applications, such as data centers, communication equipment rooms, large venues, commercial buildings, and industrial plants. By focusing on innovative cooling technologies, Huayi New Energy aims to provide clients with efficient and intelligent air conditioning solutions that enhance energy conservation and operational effectiveness.

Xmov Ai

Series C in 2022
Xmov Ai is a company that specializes in developing artificial reality animation solutions tailored for enterprise users across various Metaverse business scenarios. By leveraging advanced motion capture, animation, and artificial intelligence technologies, Xmov Ai provides businesses with customized interactive solutions for their virtual environments. The company offers a comprehensive infrastructure for 3D virtual content production, focusing on creating, educating, and employing individuals within the virtual realm. With a strong R&D team and proprietary computer graphics capabilities, Xmov Ai has established a diverse array of applications in several sectors, including entertainment, cultural tourism, e-commerce, finance, education, and healthcare. This multi-faceted approach allows Xmov Ai to create a robust ecosystem designed to support the evolving needs of the virtual world.

Xmov Ai

Series B in 2022
Xmov Ai is a company that specializes in developing artificial reality animation solutions tailored for enterprise users across various Metaverse business scenarios. By leveraging advanced motion capture, animation, and artificial intelligence technologies, Xmov Ai provides businesses with customized interactive solutions for their virtual environments. The company offers a comprehensive infrastructure for 3D virtual content production, focusing on creating, educating, and employing individuals within the virtual realm. With a strong R&D team and proprietary computer graphics capabilities, Xmov Ai has established a diverse array of applications in several sectors, including entertainment, cultural tourism, e-commerce, finance, education, and healthcare. This multi-faceted approach allows Xmov Ai to create a robust ecosystem designed to support the evolving needs of the virtual world.

Legend Energy

Series A in 2022
Legend Energy specializes in clean, low-carbon energy storage solutions, offering a range of products and services designed for efficient energy management. The company focuses on integrating software and hardware for lithium battery storage, leveraging advanced artificial intelligence algorithms and energy storage system integration technology. Its portfolio includes an energy Internet of Things (IoT) platform, a smart energy digital platform, energy storage systems, and microgrid systems. By providing these innovative solutions, Legend Energy aims to help enterprises enhance their operational efficiency while utilizing clean energy.

Xianghuanji

Series B in 2021
Xianghuanji is a marketing company that specializes in providing an online platform for cell phone rental services. The company operates under a subscription business model, allowing clients to conveniently rent mobile phones through a unified platform. This service caters to individuals and businesses seeking flexible and accessible mobile phone solutions without the commitment of purchasing devices outright.

Beixin New Energy Technology

Series A in 2021
Beixin is a technology company, dedicated to providing first-class solutions and services for global new energy applications. Founded in 1999, the company is based in Qidong, China.

iQIYI Smart Technology

Series B in 2021
Chongqing iQIYI Smart Technology Co., Ltd. is a Chinese company established in 2017 and headquartered in Beijing, specializing in virtual reality (VR) technology innovation services. The company focuses on developing and operating products related to video entertainment and cloud convergence, emphasizing a combined approach of content and hardware. iQIYI Smart Technology offers a range of VR solutions, including an all-in-one VR machine, along with various models such as Adventure Mix, Adventure Dream Pro, Encounter Dream, Adventure 3, and Adventure SE. Their VR headsets enable users to enjoy virtual reality movies, television, and games across mobile devices and other displays, positioning the company at the forefront of the VR leisure market.

Aihuishou

Series E in 2020
Aihuishou is a bidding-based consumer-to-business platform in China focused on the recycling and resale of second-hand electronic products, including mobile phones and laptops. The platform offers a wide range of recyclable mobile categories, covering popular brands such as Apple, Samsung, and Motorola. By utilizing a bidding system, Aihuishou ensures that users receive competitive prices for their second-hand electronics, thereby preventing undervaluation. The company provides a comprehensive service for individuals and businesses looking to dispose of idle electronic items responsibly. In addition to facilitating transactions, Aihuishou contributes to environmental sustainability by promoting the recycling of electronic waste in China.

Whales English Elite Education

Series B in 2020
Whales English is a Beijing-based online education company specializing in K-12 English language instruction. It focuses on helping students aged 6 to 15 enhance their English proficiency, guiding them from initial comprehension challenges to full mastery of the language. Utilizing North American standard textbooks, Whales English replicates the classroom environment of North American primary schools to cater to the diverse learning needs of its students. The company employs English-speaking teachers who utilize heuristic teaching methods, alongside a structured approach known as the "Three-fixed model," to facilitate effective learning outcomes.

BONBON

Series B in 2019
BONBON is a supplier of consumer goods. They offer services that include dresses, bodhisattvas, shirts, small leaf rosewood, gold pendants, and sweatpants.

Wanwu Store

Series B in 2019
Wanwu Store is an e-commerce platform headquartered in Beijing, China, that specializes in maternal and child supplies. Founded in 2015, the company collaborates with prominent clothing brands to provide a diverse selection of fashion products sourced from over 19 countries, specifically tailored for young mothers and children. Wanwu Store's mission is to enhance and streamline the shopping experience for consumers seeking maternal and child products.

Aihuishou

Corporate Round in 2019
Aihuishou is a bidding-based consumer-to-business platform in China focused on the recycling and resale of second-hand electronic products, including mobile phones and laptops. The platform offers a wide range of recyclable mobile categories, covering popular brands such as Apple, Samsung, and Motorola. By utilizing a bidding system, Aihuishou ensures that users receive competitive prices for their second-hand electronics, thereby preventing undervaluation. The company provides a comprehensive service for individuals and businesses looking to dispose of idle electronic items responsibly. In addition to facilitating transactions, Aihuishou contributes to environmental sustainability by promoting the recycling of electronic waste in China.

Baowuyongbei

Series A in 2019
It is used in the online shopping mall in May 2018 to serve the rental needs of family scenes. The products include travel, outdoor, picture book, education growth, beauty care, technology entertainment, family health, maternal and child breeding and other categories.

Whales English Elite Education

Series A in 2018
Whales English is a Beijing-based online education company specializing in K-12 English language instruction. It focuses on helping students aged 6 to 15 enhance their English proficiency, guiding them from initial comprehension challenges to full mastery of the language. Utilizing North American standard textbooks, Whales English replicates the classroom environment of North American primary schools to cater to the diverse learning needs of its students. The company employs English-speaking teachers who utilize heuristic teaching methods, alongside a structured approach known as the "Three-fixed model," to facilitate effective learning outcomes.

Whale small class

Series A in 2018
Whale small class is a youth online English education service provider

Jiuhuar

Series A in 2018
Jiuhuar is a Chinese distribution company that focuses on exporting San Diegan craft beer. In addition to its distribution services, Jiuhuar operates an online platform that offers extensive information about craft beer, including ratings and reviews. The company aims to foster a vibrant craft beer culture in China by providing detailed insights into over twenty-three thousand craft beer selections, supported by more than two hundred thousand independent reviews. Through its efforts, Jiuhuar contributes to the growing appreciation of craft beer among Chinese consumers.

Withwheat

Series B in 2017
Withwheat is a Beijing-based bakery chain renowned for its European-style soft bread. It distinguishes itself by using minimal sugar (10% of regular bread) and oil (6%), with no preservatives, trans fats, or added flavors. This commitment to quality has made Withwheat's products highly sought after among consumers in the region.

Cubitabo

Venture Round in 2016
Cubitabo GmbH specializes in the online retail of mattresses and bedroom furnishings in Germany. Founded in 2013 and based in Berlin, the company operates online shops under the brands BettenRiese and buddysleep. It offers a diverse range of products, including mattresses, slatted frames, and boxspring beds, aimed at enhancing customer comfort and promoting restful sleep. In addition to its retail offerings, Cubitabo provides services such as mattress consultancy, a 100-day test sleeping period, and free delivery to ensure customer satisfaction. Cubitabo GmbH is a subsidiary of Sleepz AG.
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