ZhenFund

ZhenFund is a venture capital firm established in 2011 by Bob Xu and Victor Wang, in collaboration with Sequoia Capital China. Based in Beijing, with additional offices in Shenzhen, Shanghai, and Silicon Valley, ZhenFund focuses on seed stage investments and has over $1 billion under management. The firm primarily targets sectors such as e-commerce, education, artificial intelligence, mobile internet, and healthcare. Its portfolio includes over 750 high-growth companies, highlighting its significant presence in China’s early-stage venture capital landscape. Notable investments include companies like OFO, VIPKID, and Hero Entertainment. ZhenFund aims to support and inspire the next generation of global entrepreneurs, leveraging the founders' extensive experience in the education sector and successful investment track records.

Anna Fang

Founding Partner and CEO

Wei Kuang

Principal

Yuan Liu

Partner

Tianyi Qin

Principal

Yuguang Sun

Investment Associate

Lulu Sun

VP

Victor Wang

Co-Founder

Debbie Wang

VP

Terry Wang

Venture Partner

Bob Xiaoping Xu

Founding Partner

Fangzhou Yao

Managing Director

Li Yi

Investment Associate

Emma Yin

Partner

Meng Yuan

Investment Associate

Yazhe Zhang

Board Member, Partner and Director

Zhaoyu Zheng

Partner

Past deals in Consumer Electronics

Numao Technology

Series A in 2021
Numao Technology, also known as Angry Miao Technology, is a consumer electronics manufacturer based in Zhuhai, China. Founded in 2019, the company specializes in the production of digital products, including true wireless stereo (TWS) devices and wireless desktop solutions. In addition to these offerings, Numao Technology focuses on developing products that leverage intellectual property, positioning itself as an innovative player in the technology sector.

LinkZill

Seed Round in 2021
LinkZill is a high-tech company that specializes in the development and supply of organic semiconductor materials. Its primary offerings include organic semiconductor materials and thin-film transistor (TFT) arrays, which are applicable in various growing sectors such as biomedical electronics, healthcare, intelligent sports, and novel printed display technologies. The company also provides portable test systems, enhancing the functionality and application of its semiconductor products in diverse industries.

X-EPIC

Series A in 2020
X-EPI is a Nanjing city-based startup aimed at building up China’s own EDA (Electronic Design Automation) industrial software technology.

X-EPIC

Seed Round in 2020
X-EPI is a Nanjing city-based startup aimed at building up China’s own EDA (Electronic Design Automation) industrial software technology.

Qinglei Technology

Angel Round in 2020
Beijing Qinglei Technology Co., Ltd. engages into military and civil use radar equipments. It provides smart radar technology solutions for smart phones, smart cars, smart homes, vital signs monitoring, Internet of things, and wearable device. The company is based in Beijing, China.

ECCANG

Series A in 2020
Eccang.com develops cross-border management software for the cross-border e-commerce industry. It offers Easy warehouse ERP, an independent deployment database; Top-up ERP, a pay-per-order software; Amazon ERP for Amazon FBA sellers; E Youth Edition ERP for E Youth Project; Overseas Warehouse WMS for custom operation mode and multinational collaboration; and Cloud WMS for start-up overseas warehouse enterprises. The company also provides Overseas Warehouse Agent DWMS for global overseas warehouse resource integration; Freight Forwarding TMS for integration with e-commerce, platforms, service providers, and overseas warehouse APIs; Distribution system M2B, a solution to expand sales channels; and Import direct mail system BC that enables users to create a global smart delivery system. In addition, it offers Bonded Warehouse System BBC, a professional sunshine import program; and Twork, an internal process collaboration software. Further, the company provides scanning and weighing machines, ISBN printers, warehouse barcode scanning equipments, and electronic label picking systems. It serves domestic and foreign cross-border sellers and overseas warehouse service providers. The company was founded in 2013 and is based in Shenzhen, China.

Taozugong

Seed Round in 2018
Hangzhou Taozugong Technology Co., Ltd. is an electronics leasing company based in Hangzhou, China, primarily focused on providing a rental platform for branded appliances. Founded in 2017, the company has developed mechanisms to assess user trustworthiness, notably through collaboration with the Alipay credit scoring platform, Zhima Credit. By leveraging this partnership, Taozugong aims to enhance the security and reliability of its rental services, ensuring a positive experience for both renters and service providers.

Lehui Technology

Seed Round in 2018
Zhuhai based Media & Entertainment company.

Quan5

Series B in 2018
Quan5.com is an industrial internet platform that focuses on home software. It is committed to industrial informational and empowers channel participants to realize one-stop home softcover solutions.

Pocket Noir

Series A in 2018
Pocket Noir is a Guangzhou-based retail platform focused on innovative technology hardware products. It offers a diverse selection of high-tech items, including virtual reality headsets, drones, smart cameras, and audio-visual equipment. The platform caters to tech-savvy consumers in urban areas, showcasing premium electronic products from various vendors. In addition to product sales, Pocket Noir accumulates user experience data, which it utilizes to provide valuable insights for brands and advertisers. This approach enhances the overall shopping experience while supporting the promotion of cutting-edge technology.

Pocket Noir

Series A in 2018
Pocket Noir is a Guangzhou-based retail platform focused on innovative technology hardware products. It offers a diverse selection of high-tech items, including virtual reality headsets, drones, smart cameras, and audio-visual equipment. The platform caters to tech-savvy consumers in urban areas, showcasing premium electronic products from various vendors. In addition to product sales, Pocket Noir accumulates user experience data, which it utilizes to provide valuable insights for brands and advertisers. This approach enhances the overall shopping experience while supporting the promotion of cutting-edge technology.

Quan5

Series A in 2017
Quan5.com is an industrial internet platform that focuses on home software. It is committed to industrial informational and empowers channel participants to realize one-stop home softcover solutions.

Citybox

Series A in 2017
Citybox is a smart vending machine operator based in Shanghai, China, established in 2015. The company specializes in manufacturing retail terminals that function as refrigerators equipped with QR code stamps, anti-theft features, and user tracking capabilities. Citybox provides a selection of fresh produce, including yogurt and chilled lunchboxes, targeting various sectors such as offices, residential communities, shopping malls, and schools.

Citybox

Series A in 2017
Citybox is a smart vending machine operator based in Shanghai, China, established in 2015. The company specializes in manufacturing retail terminals that function as refrigerators equipped with QR code stamps, anti-theft features, and user tracking capabilities. Citybox provides a selection of fresh produce, including yogurt and chilled lunchboxes, targeting various sectors such as offices, residential communities, shopping malls, and schools.

Beijing Qingxing

Series A in 2017
Electro Car

CoClean

Series A in 2017
CoClean Co., Ltd. develops and manufactures wearable negative ion air purifier devices. The company was founded in 2015 and is based in Beijing, China.

LBA Sport

Seed Round in 2017
LBA Sport

Beijing Qingxing

Seed Round in 2016
Electro Car

YouCheYiHou

Series A in 2016
YouCheYiHou operates an online platform focused on the automotive sector, offering a range of services including car media, mobile applications, and e-commerce for automotive supplies. The platform provides users with up-to-date information on car models, maintenance, and industry trends. By utilizing big data analytics, YouCheYiHou assists car dealerships in managing their sales, branding, and customer service efforts. Additionally, it delivers valuable insights and data to both consumers and dealers, enhancing their understanding of the automotive market and improving transaction efficiency.

Yunmake

Series A in 2015
Yunmake makes foldable electric bikes, like the X1 (pictured above), that are battery-powered and connected to an app. While a Xiaomi representative declined to comment on potential collaborations with Yunmake, Shunwei’s (and, by extension, Lei Jun’s) interest in the company is notable because Xiaomi is busy building a hardware ecosystem that extends beyond its smartphones. Xiaomi hasn’t rolled out vehicles yet, but reports have surfaced that it wants to add electronic bikes and smart cars to its growing roster of consumer hardware.

PopuMusic

Angel Round in 2015
Developer of intelligent guitar and related teaching application software. The company's guitar can be connected with their music application that shows customers how to learn to play guitar by lighting the position on guitar, making the guitar learning experience more efficient and fun.

Knewbi.com

Angel Round in 2014
Knewbi.com (Knewbi玩物社区) is a service community focused on creative hardwares, and provides the developers who develop both hardware and software with various interaction and collaboration services. It is a creative hardware community under leiphone.com, which provides a place for communication for players who like new hardware products that are intelligent and creative.

Shunsheng

Seed Round in 2012
Ningbo Shunsheng Communication Apparatus Co., Ltd is specializing in LAN CABLE, NETWORK ACCESSORIES, FIBER OPTIC, HDMI, USB CABLE, CAT5, CAT6 and CAT7 etc. Their company was approved by ISO9001:2000 quality system. All the products have approved UL, CUL, CE, and 3P certificates

LightInTheBox

Angel Round in 2006
LightInTheBox Holdings Co., Ltd. is a B2C e-commerce website selling a variety of integrated supply chain products. LightInTheBox presently offers commodities for overseas purchase, which are concentrated in three fields: consumer electronics dominated by cell phones and digital products, customized garments and sports equipment, and cultural goods. It completed its acquisition of the 3C e-business website Ouku.com and has a number of suppliers as well as its own data warehouse and long-term logistics partners. Lighinthebox offers over 60,000 kinds of commodities ranging from apparel, fashion accessories, electronics, and home and garden accessories, to sports equipment. After several years of development, LightInTheBox has established a large number of suppliers throughout China, including Guangdong, Shanghai, Zhejiang, Jiangsu, Fujian, Shandong, Beijing and other provinces. Its partners and suppliers include Newman, Patriot, Founder Technology, Yadu, and Shenzhou Computer. LightInTheBox was founded in 2006 with a registered capital of US$3 million, ranking number one domestically among foreign trade websites. It has received several rounds of venture capital funding, totalling US$51.27 million. On June 6, 2013, LightInTheBox was listed on the New York Stock Exchange (NYSE). As of 2012, LightInTheBox serves customers from over 200 countries worldwide, with over 1 million daily foreign visitors and 2 million daily page views. Its major rivals are AliExpress and E-bay.
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