Mangrove Capital

Mangrove Capital is a venture capital firm established in 2016 and based in Shenzhen, China. The firm specializes in seed and growth investments across various sectors, including internet, mobile internet, big data, cloud services, healthcare, intelligent software, the Internet of Things, artificial intelligence, and robotics. Mangrove Capital primarily directs its investments towards markets in China, the United States, and Israel, aiming to support innovative companies in technology, media, and telecommunications, as well as information technology and enterprise services.

Wang Duo

Founding Partner and Investment Partner

Wang Lan

Founding Partner

12 past transactions

Huizhi International Tourism

Series B in 2025
Huizhi International Tourism provides digital marketing services as well as dissemination of hotel resources abroad.

CassTime

Series D in 2023
CassTime is an industrial internet company based in China that focuses on the automotive aftermarket. The company operates a comprehensive trading platform that offers full coverage of spare parts, facilitating transactions between buyers and sellers. In addition to its marketplace, CassTime provides a software-as-a-service (SaaS) management system tailored for automotive workshops, enhancing operational efficiency. The company also engages in supply chain finance and offers logistics services, ensuring streamlined processes for its users. By delivering detailed information on vehicle parts and supporting simpler settlements and aftersales services, CassTime enables a complete business-to-business transaction experience in the auto parts sector.

Anome

Seed Round in 2023
Anome is a Web3 platform specializing in user-generated content (UGC) games. It aims to foster a more open, fair, and transparent gaming environment by enabling users to create, share, and participate in games. The company's core product is a blockchain-based lending protocol that facilitates collateralized lending of altcoins, preventing liquidation and promoting a sustainable ecosystem for decentralized finance (DeFi) gaming.

Tingyun

Series C in 2020
Tingyun provides companies in various industries with a full-stack real-time big data intelligent monitoring platform covering the client, network, and server aspects.

IYunbao

Series B in 2019
iYunbao is a FinTech company based in Shanghai, China, specializing in the promotion of Internet insurance products. Founded in 2015, the company operates a platform that offers a range of services designed to enhance the insurance experience for consumers. These services include mobile insurance, convenient claims processing, online settlement, and market data analysis, all aimed at improving efficiency and convenience for users. iYunbao's approach facilitates better access to insurance products and aims to meet the diverse needs of its customers effectively.

Maimeng Group

Series A in 2019
Shenzhen Maimeng Technology Co., Ltd. is an artificial intelligence technology company based in Beijing, China, established in 2018. The firm specializes in developing an AI-driven platform designed to enhance marketing services, particularly in the education and insurance sectors. Maimeng focuses on leveraging big data and artificial intelligence to empower businesses by optimizing their marketing strategies. The platform provides a comprehensive range of services, including data collection, acquisition, cleaning, processing, and storage. By employing advanced data mining techniques and collaborative intelligent modeling, Maimeng aims to help clients gain insights into their target users and understand their real needs, thereby facilitating accurate consumer insights and improving business interactions. The company's mission is to transform traditional marketing methods to enhance customer satisfaction and overall quality of life.

Deepleaper

Series B in 2019
Deepleaper is a Beijing-based company founded in 2016 that specializes in developing a semantic content platform for advertisers and media professionals. The company focuses on artificial intelligence-driven marketing technology solutions aimed at enhancing advertising efficiency. Its cloud platform streamlines advertisement distribution and improves the accuracy of business information while reducing the transmission time and filtering out irrelevant data. By leveraging advanced AI techniques, Deepleaper enables advertisers to operate more effectively, ultimately increasing their profitability.

WeShare

Series B in 2018
WeShare is a Chinese financial services provider that specializes in enhancing the capabilities of consumer financial institutions. The company focuses on enabling both onshore and offshore institutional investors to efficiently and securely invest in China's consumer finance sector. By leveraging advanced technology and data analysis, WeShare aims to improve customer access, risk management, and funding solutions. Committed to developing top-tier fintech capabilities, WeShare collaborates with industry partners to foster shared growth and mutual benefits in the financial services landscape.

CassTime

Series B in 2018
CassTime is an industrial internet company based in China that focuses on the automotive aftermarket. The company operates a comprehensive trading platform that offers full coverage of spare parts, facilitating transactions between buyers and sellers. In addition to its marketplace, CassTime provides a software-as-a-service (SaaS) management system tailored for automotive workshops, enhancing operational efficiency. The company also engages in supply chain finance and offers logistics services, ensuring streamlined processes for its users. By delivering detailed information on vehicle parts and supporting simpler settlements and aftersales services, CassTime enables a complete business-to-business transaction experience in the auto parts sector.

Lesara

Series C in 2017
Lesara is a global e-commerce company, founded in 2013, that specializes in offering a wide range of fashion merchandise and consumer goods at competitive prices. Headquartered in Germany with operations in China, Lesara has expanded into 24 markets across Europe, providing products in 7 languages. The company's vertically integrated supply chain allows it to swiftly move from product idea to launch in just 2 weeks, offering over 100,000 SKUs. Lesara's platform provides customers with a secure and convenient online shopping experience, featuring a diverse selection of clothing, jewelry, electronics, home goods, and other consumer items at discounted prices. With a team of over 300 employees, Lesara was recognized as the fastest-growing tech company in Europe in 2016.

Ucpaas

Series B in 2017
Shenzhen City Network Technology Co., Ltd., commonly known as Ucpaas, specializes in providing a cloud communication platform that facilitates converged communication services for developers and businesses. The company offers an open-source platform that integrates various communication capabilities, including voice, SMS, VoIP, video conferencing, and identity verification, through accessible APIs and SDKs for multiple operating systems. With over a decade of experience in the VoIP communications industry, Ucpaas has amassed a substantial user base, serving more than 200 million registered users and capturing over 70 percent of telecommunications resources in the sector. The company is driven by a team of professionals with extensive backgrounds in telecommunications and IT, allowing for strong innovation and operational expertise. Ucpaas aims to streamline business communication processes, enabling users to efficiently manage their communication needs without the burden of hardware or high network costs.

Moov

Series B in 2016
Moov Inc. is a company that specializes in wearable fitness solutions, offering a device designed to enhance workout experiences through real-time audio coaching and fitness tracking. Established in 2014 and based in Mountain View, California, Moov's product integrates advanced motion sensors and artificial intelligence to provide users with immediate feedback on their physical activity. The device is compatible with various exercises, including running, cycling, cardio boxing, and swimming, and it syncs with a smartphone application to analyze performance and deliver coaching instructions. By incorporating insights from sport science research, Moov aims to support both beginners and professionals in optimizing their workouts and achieving better fitness outcomes.
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