Puhua Capital

Puhua Capital is an equity investment firm based in Hangzhou, China, founded in 2004. The firm specializes in venture capital, focusing on early to middle-stage projects within the internet, health, and technology sectors. Puhua Capital not only invests funds but also provides crucial resources and management expertise to the enterprises it supports. With a portfolio that includes nearly 300 promising start-ups, Puhua Capital aims to foster innovation and growth in its targeted industries.

Lu Jianliang

Vice President of Investment

Shen Qinhua

Founder and Managing Partner

Wang Hongwen

Managing Director

Zhou Mi

Managing Partner

Zhu Baolin

Vice President

Past deals in Electronics

Yixing Technology

Series A in 2025
Yixing Technology is an integration of automotive electronics and ICT technology, continuing to focus on technology research and development and product innovation, helping the technological transformation. Long-term research on core technologies such as ethernet communication, computer graphics, operating systems, simulation, test verification, software engineering, and so on contributes.

Bibost Automotive Electronics

Series B in 2025
Bebest Automotive Electronics specializes in the production and research of advanced automotive electronic products. The company focuses on developing intelligent chassis core components and chassis domain controllers, which are essential for modern vehicle systems. Additionally, Bebest offers technical services related to autonomous driving, as well as electronic mechanical brake systems and steering-by-wire systems. By providing high-quality solutions for chassis-by-wire technology, Bebest aims to meet the growing demands of the global automotive market.

Magic Star

Series C in 2024
Magic Star is a manufacturer specializing in open mental masks designed for organic light-emitting diode (OLED) displays. The company focuses on producing high-precision metal masks that are critical for the manufacturing of OLED panels. These products are characterized by their high value and cost-effectiveness, enabling OLED panel manufacturers to enhance production efficiency while achieving high resolution and yield. By providing essential components for OLED display production, Magic Star plays a significant role in the advancement of display technology.

Garen Semiconductor

Seed Round in 2024
Garen Semiconductor specializes in the research and development, production, and sales of semiconductor materials, with a particular focus on gallium oxide. The company manufactures a variety of gallium oxide substrate materials, including polished wafers of various sizes, crystal orientations, and resistivities, along with customizable gallium oxide seeds. These products are primarily utilized in power electronic devices across diverse sectors such as the national grid, new energy vehicles, rail transit, and 5G communications. Garen Semiconductor aims to provide innovative solutions to meet the growing demands of these advanced technology applications.

Laser Link

Series B in 2024
Laser Link is a company specializing in laser communication technologies aimed at enhancing inter-satellite communication. The firm develops precision optical-mechanical products and components for various applications, including commercial aircraft and satellite systems. Its offerings include both co-orbit and off-orbit laser communication terminals, which are designed for spaceborne and airborne environments. By providing advanced communication solutions, Laser Link serves a diverse clientele involved in satellite, onboard, airborne, and ground communication applications.

Rebbeca Med

Series A in 2024
Rebecca is committed to the application of precision-controlled MEMS radio frequency technology in clinical disease control and rehabilitation. Its core technology comes from the core team's many years of experience and achievements in research and development and productization at the University of California, Fortune 500 medical equipment, and electronic equipment companies. The company cooperated with domestic university research institutes and many top three hospitals in Beijing, Shanghai, and Hangzhou to independently develop micro-radio frequency technology that surpassed similar products in Europe and America. It focuses on delivering innovative medical solutions to the hands of professional caregivers. Rebecca's team possesses technical expertise in micro-devices, RF, and device integration through years of field practice in micro-electronics and clinical innovation.

Camsense

Series C in 2022
Camsense specializes in the research and development of vision space positioning technology, offering advanced sensors built on proprietary algorithms and custom chips. The company's products are designed for a range of applications, including consumer robots, industrial testing, and surgical procedures. By integrating high precision positioning algorithms and high-performance ASIC image processing chips, Camsense enables the incorporation of sophisticated positioning technology into various devices, such as automated vacuums and machine vision systems for business use. This focus on precision and performance allows Camsense to deliver innovative solutions for multiple sectors.

Huachen Core Light

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

Zhide New Energy

Series B in 2022
Zhide New Energy is a developer of approaches to synthetize new silicon anode materials. They focuses on silicon technology that can be applied to produce new materials. They also produce battery with high energy density and low cost. They manufactures battery for 3C and EV. They provide batteries for fields, such as electric vehicles, consumer electronics, house power storage, and wearable devices.

Okai

Series A in 2022
Okai is an electrical company that manufactures light electric vehicles for consumers. The company's core products are smart electric short-distance travel tools such as e-scooters and e-bikes. Through the dual drive of sharing and consumption, it offers users one-stop multi-scenario smart travel solutions. It also helps people everywhere to move across cities, campuses, and communities in ways that are safe, simple, and fun.

Magic Star

Venture Round in 2022
Magic Star is a manufacturer specializing in open mental masks designed for organic light-emitting diode (OLED) displays. The company focuses on producing high-precision metal masks that are critical for the manufacturing of OLED panels. These products are characterized by their high value and cost-effectiveness, enabling OLED panel manufacturers to enhance production efficiency while achieving high resolution and yield. By providing essential components for OLED display production, Magic Star plays a significant role in the advancement of display technology.

RaySea Technology

Series A in 2020
RaySea Technology is a supplier and developer of vertical-cavity surface-emitting laser (VCSEL) technologies. The company specializes in the design and manufacturing of VCSEL chips, which are utilized in various applications, including consumer electronics and data communication. RaySea's products are notable for their low cost and high quality, making them attractive to electronic manufacturers. The company's expertise encompasses various disciplines such as chip design and simulation, epitaxial growth, process management, chip packaging, and high-frequency testing. Additionally, RaySea engages in big data analysis to enhance its offerings and support product customization for its clients.

MindMotion

Venture Round in 2020
MindMotion is an electronics company based in Shanghai, China, specializing in general-purpose 32-bit microcontroller (MCU) products and solutions. Founded in 2011, MindMotion has developed a range of products based on Arm Cortex-M series cores, featuring four distinct series: F, L, SPIN, and W, with over 200 models available. The company has achieved significant market presence, delivering more than 300 million units to date, positioning itself among the leading local providers of 32-bit MCUs. Its technology enables the integration of advanced chip capabilities in applications such as wireless control motors, allowing clients to access high-quality MCU products at competitive prices.

Tinychip

Angel Round in 2019
Tinychip is a microelectronics company that specializes in manufacturing analog-to-digital hybrid automotive chips and developing Internet of Things (IoT) chip technology. Based in the greater China area, Tinychip's products support multiple frequencies and are utilized in smart home devices and various electronic systems. The company's focus on quality chip production enables electronics manufacturers to incorporate reliable and advanced technology into their products, catering to the growing demand for smart and connected devices.

ICSuperman.com

Angel Round in 2018
ICSuperman.com is an e-commerce platform specializing in electronic components and semiconductor procurement. The company offers supply chain solutions tailored for original equipment manufacturers, original brand manufacturers, contract manufacturers, electronic manufacturing service providers, design houses, and distributors. By providing a marketplace for chip and electronics producers, ICSuperman.com facilitates the procurement of quality-checked products at fair prices, streamlining semiconductor transactions for its clients. The platform aims to enhance efficiency and transparency within the electronic components industry.

Zhenlei Technology

Venture Round in 2018
Zhenlei Technology focuses on terminal RF front-end chips, high-density packaging microwave modules, and microsystems.
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