IDG Capital is a global venture capital and private equity firm with a 30-year track record, headquartered in Hong Kong and active across Asia and beyond. The firm invests across stages, including venture, growth, buyouts, and private equity, and focuses on sectors such as consumer, technology, healthcare, finance, and related fields. It builds value through a wide international network, hands-on support for portfolio companies, and strategic partnerships that enable geographic expansion, product development, and scale. IDG Capital emphasizes long-term partnerships with founders and management teams, leveraging experience in mergers and acquisitions, secondary markets, and public investments to support companies throughout their lifecycle. The firm operates across multiple markets with a diverse portfolio and a history of notable exits, reflecting its global reach and emphasis on sustainable growth.

Morningside Group is a Boston-area venture capital firm founded in 1986 as a family office for the Chan family. It makes long-term investments in companies applying novel science and technology, with expertise in life sciences, digital health, AI, materials, and technology, and a commitment to ethical business practices. The firm supports education, research, and healthcare through charitable initiatives with partners including Harvard T.H. Chan School of Public Health, UMass Chan Medical School, and MIT Morningside Academy for Design.

Hiway Capital is a venture capital firm based in Guangzhou, China. Established in 2007, it focuses on investing in manufacturing, healthcare, new materials and energy, agriculture, and enterprise services.

SDIC Innovation Investment Management is the private equity and venture capital arm of State Development & Investment Corp. It makes investments across technology and manufacturing sectors, including mobile internet, internet of things, cloud computing, big data, information technology services, industrial robotics, and intelligent manufacturing. The firm also targets high-end medical equipment, diagnostics, high-value consumables, modern agricultural equipment, ships and marine engineering, new materials, clean energy, energy conservation, and healthcare; for new energy vehicles it focuses on intelligent upstream and downstream supply chains, power batteries and systems, and related technologies. Founded in 2009, the company is based in Beijing with an additional office in Asia. The firm aims to support development and deployment of innovative technologies through private equity and venture capital investments.

Shenzhen Capital Group is a government-backed venture capital firm established in 1999 by the Shenzhen government. It concentrates on cultivating national industries and brands, promoting economic transformation, and supporting enterprises in emerging sectors. The firm invests in SMEs and innovative high-tech companies across information technology, the internet, new media, biopharma, new energy, environmental protection, chemical engineering, new materials, high-end equipment manufacturing, and consumer services, including startups and growth-stage firms. It operates a broad network of funds across 28 provinces, enabling cross-regional capital flows and collaboration among government, industry, and academia to link the Guangdong-Hong Kong-Macao Greater Bay Area with other regions. The approach emphasizes long-horizon value creation, ESG considerations, and aligning financial returns with social impact, contributing to modernization and high-quality development in China.

Legend Capital is a Beijing-based venture capital firm, the venture arm of Legend Holdings, established in 2001 to back high-growth ventures with a focus on China and markets related to China. It manages multiple investment funds and emphasizes early-stage information technology opportunities as well as mid-market growth in sectors including network applications and services, outsourcing and professional services, and infrastructure. The firm also supports consumer, clean technologies, healthcare, equipment manufacturing, and modern services companies expanding in China, providing portfolio companies with strategic resources, market access, and branding support to create value and improve returns. Legend Capital maintains an active, China-focused investment approach and works closely with ambitious entrepreneurs to advance technology-driven businesses.

Shunwei Capital is a Beijing-based venture capital firm founded in 2011 that backs early to growth-stage technology and internet-focused companies. It targets sectors including deep technology, smart manufacturing, Internet+, consumer technology, enterprise services, and electric vehicles, and it pursues both domestic China investments and cross-border opportunities. The firm is known for supporting portfolio companies with capital and hands-on involvement, and its investments span notable names such as Xiaomi, Agora, Huami Technology, iQIYI, and Viomi. Shunwei operates multiple funds and has historically invested in information technology, internet services, hardware and smart devices, and related sectors through a global perspective.

Founded in 2015 in China, Panda Capital is a venture capital firm focused on early-stage technology startups. It targets companies from angel to Series B rounds and aims to be among the first institutional investors. The firm concentrates on fast-growing tech sectors such as data-driven AI applications, enterprise services, fintech, logistics, mobility and transportation, and new generation consumer trends. Based in Shanghai, Panda Capital emphasizes disciplined, patient investing and seeks to identify genuine opportunities early, supporting portfolio companies through their growth.

WI Harper Group is a venture capital firm founded in 1993 with a global footprint spanning the United States, Greater China, and the Asia Pacific, with offices in San Francisco, Beijing, and Taipei. It concentrates on early and expansion-stage investments in technology, healthcare, biotech, artificial intelligence, semiconductors, robotics, fintech, sustainability, and related sectors, aiming to back bold visionaries and disruptive innovation. The firm has backed more than 250 companies across 30 countries and has facilitated over 100 IPOs and M&A transactions, reflecting a long track record and cross-border capabilities.

FG Venture is a Shanghai- and Shenzhen-based venture capital firm that backs technology startups in information technology and manufacturing ecosystems. It focuses on high-growth opportunities in IT infrastructure, cloud computing, the Internet of Things, big data, SaaS, microchips and semiconductors, and advanced manufacturing, including modules, intelligent devices, robotics, and drones. It supports ventures across information technology and manufacturing, using platforms built on open-source technologies such as Hadoop and Spark to handle data from GB to PB scales. The firm seeks to help portfolio companies reach world-class enterprise status and deliver strong returns through an internationally oriented approach and active collaboration with entrepreneurs. FG Venture maintains offices in Shanghai and Shenzhen and invites startups to submit business plans via its portal. Its portfolio spans chip-module supply chains, intelligent automotive, big data, cloud computing, and advanced manufacturing.

Bright Venture Capital is a venture capital firm headquartered in Shenzhen, China. It focuses on early- and middle-stage investments across technology-related sectors, including information technology, internet, cloud computing and advanced manufacturing, and seeks opportunities in adjacent areas such as media, telecommunications, culture and media, healthcare education, entertainment consumer, and new retail. The firm pursues investments in both private equity in the primary market and secondary stock opportunities.

Glory Ventures is a Shanghai-based venture capital firm established in 2015 that targets early and growth-stage technology investments in information technology, artificial intelligence, Internet of Things, smart manufacturing, and related sectors driven by China’s industrial upgrading and AI development. It pursues cross-border opportunities, notably in Israel and China, and emphasizes a research-driven approach to leverage industrial resources, build strategic value across the value chain, and support exits through M&A or IPO. The firm fuses private equity resources with industrial partners to create synergies, provides active governance and value-added ecosystem building to accelerate portfolio companies in areas such as AI hardware and software, autonomous driving, robotics, enterprise services, cloud computing, and consumer technology. Glory Ventures manages multiple funds with global reach and collaborates with leading electronics, automotive, internet, storage, and cloud players to foster an information technology ecosystem, including initiatives like the OpenClaw platform.

GGV Capital is a global venture capital firm that restructured in March 2024 into two distinct entities: Granite Asia, based in Singapore, investing across the Asia-Pacific region including Southeast Asia, Japan, China, India, and Australia; and Notable Capital, headquartered in Silicon Valley with offices in San Francisco and New York, investing in the United States, Israel, Europe, and Latin America. The firm has backed notable technology companies such as Streamlit, HashiCorp, Grab, Affirm, Poshmark, Wish, and Airbnb, and provides support for founders through resources and programs.

Y&R Capital is a Beijing-based venture capital firm founded in 2015 that concentrates on investments in precision medicine, intelligent services, and high-end manufacturing. The firm targets opportunities in medical health, artificial intelligence and robotics, and intelligent manufacturing, supporting innovative companies at the forefront of strategic emerging industries.

Gaorong Capital is a Beijing-based venture investment firm that backs early-stage technology companies in Asia-Pacific. Founded around 2013, it focuses on technology sectors including telecommunications, media, life sciences, cosmetics, and other tech, providing strategic resources and global perspectives to portfolio companies through a diverse base of limited partners and industry executives, including sovereign wealth funds, university endowments, pension funds, and leaders from Tencent, Alibaba, Baidu, JD, Xiaomi, Focus Media and VIPShop.

Northern Light Venture Capital is a venture capital firm founded in 2005 that backs early- and growth-stage technology-driven companies. It targets opportunities in information technology, healthcare, consumer sectors, and related industries, with a China-focused approach that aims to leverage China’s industrial, economic, and human resources to build enduring global enterprises. The firm manages multiple funds to support its portfolio, including RMB funds and US-dollar vehicles.

CDH Investments is an international private equity and diversified alternative asset manager founded in 2002 and based in Beijing with an office in Hong Kong. The firm operates a multi-asset platform spanning private equity, venture, growth capital, real assets, credit, mezzanine, public equities and wealth management, with a focus on Greater China and selective cross-border opportunities in Southeast Asia. It targets investments in consumer, technology, new energy and healthcare sectors, among others, and has a track record of large-scale deals and strategic collaborations including the buyout of Shuanghui (WH Group) and related corporate activity. Backed by institutional investors, CDH Investments manages substantial assets and serves a broad set of institutional clients, emphasizing long-term value creation and active portfolio management.

Source Code Capital is a Beijing-based venture capital firm founded in 2014, focused on partnering with resilient technology entrepreneurs to drive transformative change and create lasting value in China. It invests across seed, early, and growth stages in the TMT sectors, guided by its Big 3 drivers: Internet+, AI+, and Global+. The firm has backed notable companies such as ByteDance, Meituan, Beike, and Li Auto, and supports portfolio companies through a post-investment platform that offers mentorship, resources, and access to a broad network. With a Beijing office, it emphasizes diligence, founder proximity, and value creation.

5Y Capital is a Shanghai-based venture capital firm focusing on early-stage and growth investments in technology, life sciences, healthcare, fintech, internet services, software, and consumer technologies across China and the Asia-Pacific region. Founded in 2008 by Ken Shi and Richard Liu, it was formerly Morningside Venture Capital and is associated with the Morningside Group. The firm operates from offices in Shanghai, Beijing, Shenzhen, and Hong Kong and backs ambitious founders to scale innovative businesses globally.

Lighthouse Capital Management is an early-stage venture capital firm based in Shanghai, China, focused on angel and venture investment in hardware equipment, internet-enabled solutions, and enterprise data services across China and the United States. It backs high-potential startups through RMB and USD funds, supporting technology entrepreneurs to drive growth and transformation. The firm manages tens of billions of yuan in assets under management and its portfolio companies across domestic and international markets have a combined market value exceeding RMB 100 billion.

Xianghe Capital is a Beijing-based venture capital firm that focuses on early-stage and growth investments in China, with emphasis on AI, advanced manufacturing, new energy and new materials, and TMT. Founded in 2016 by Tang Hesong and Yang Liu, former Baidu corporate development leaders, it combines strategic analysis with hands-on backing to help portfolio companies scale and pursue leadership opportunities in evolving tech sectors. The team draws on experience from Baidu and other tech leaders to provide market insight, ecosystem support and strategic guidance to founders.

Baidu Ventures is the independent venture capital arm of Baidu, established in 2017. It focuses on early-stage investments in artificial intelligence and frontier technologies, funding AI-driven opportunities across areas such as AIGC, embodied intelligence, autonomous driving, advanced computing, and life sciences. The firm aims to accelerate emerging technologies into real-world impact and to build ecosystems in robotics, AI infrastructure for AIGC, and city-scale autonomous driving applications. It operates from Beijing and San Francisco and manages approximately $500 million across multiple funds, supporting entrepreneurs shaping the next generation of AI and related industries.

Lenovo Capital and Incubator Group is Lenovo's global corporate venture capital arm and startup accelerator that supports early- to growth-stage technology companies by leveraging Lenovo's ecosystem. With a presence in Beijing, Shanghai, Shenzhen, Hong Kong, Israel and the United States, LCIG invests across artificial intelligence, semiconductors, robotics and intelligent devices, aiming to accelerate silicon-based innovation. Since its founding in 2016, it has built a broad ecosystem through collaborations and events, and its portfolio includes notable companies such as CATL, Meituan, Cambricon, Megvii and NIO. The group highlights milestones like humanoid robot deliveries under the HuoZhong and GuangMing initiatives and successful exits including listings on the STAR Market and the Hong Kong Stock Exchange, reflecting its role in advancing technology startups within Lenovo's global network.

Oriental Fortune Capital is a Shenzhen-based venture capital firm that invests across seed to Pre-IPO and growth stages, including mezzanine and new third board opportunities. It backs sectors such as information technology, semiconductors, big data, telecommunications, media, healthcare and life sciences, green technology, energy, new materials, advanced manufacturing, consumer goods, and entertainment. The firm pursues investments in China with a focus on major cities—Shenzhen, Shanghai, Beijing, Xi’an, and Wuhu—and regional clusters in the Pearl River Delta, Yangtze River Delta, and Circum-Bohai-Sea. It follows a staged allocation approach, typically dedicating about 20% of its portfolio to early-stage, 40% to expansion, and 40% to Pre-IPO opportunities. The company maintains offices in Shanghai, Beijing, and Wuhu and has a history dating back to 2006–2007.

Vision Plus Capital, also known as Yuan Jing Capital, is a venture capital firm founded in 2015 and based in Hangzhou, China, with additional offices in Beijing, Shanghai and Hong Kong. The firm focuses on early-stage investments across internet and healthcare technology sectors, including internet innovation, digital health, intelligent technology, AI, enterprise services, consumer internet and related areas, and seeks to support startups with practical experience in talent recruitment, strategic planning, operational upgrading and financing strategies. Vision Plus Capital targets opportunities in China, including cross-border RMB and dollar investments, and backs ventures that leverage data analytics, AI and digital infrastructure to drive enterprise digitization and enhanced consumer services.

Addor Capital is a venture capital firm based in Nanjing, China. It backs early-stage to growth-stage companies across sectors including green technologies, semiconductors, new materials, healthcare and life sciences, information technology, and advanced manufacturing in China. The firm reports assets under management exceeding 100 billion RMB and operates an ecosystem of affiliated platforms under the Yida Hub brand to support portfolio companies and knowledge sharing, with emphasis on research capabilities and investor protection.

China Growth Capital is a Beijing-based venture capital firm founded in 2006 that backs technology companies across seed to Series B stages, with a focus on enterprise software, fintech, AI, autonomous driving, robotics, and related frontier technologies, as well as marketplaces and consumer platforms. The firm operates in China and maintains an extended interest in Silicon Valley, typically investing RMB 1 million to 5 million with a hard cap of RMB 15 million per company. It manages around RMB 8 billion in assets and pursues a hands-on approach through its 3V model, blending venture capital, lending, and post-investment value-added services to support portfolio companies with strategic guidance and resources. The portfolio spans notable Chinese tech names and global opportunities, reflecting a broad technology focus and cross-border exposure.

BlueRun Ventures is a venture capital firm founded in 1998 and based in California, with offices in the United States, Shanghai, Beijing, and Korea. It focuses on investments in fintech, digital health, enterprise software, consumer experiences, information technology, and mobile, with an emphasis on mobile opportunities and technology-enabled platforms. The firm supports a broad portfolio of companies across the United States and Asia and has achieved notable exits including PayPal, Waze, and Topsy, reflecting its experience in scaling technology-driven businesses across global markets.

SOSV is a global venture capital firm headquartered in Princeton, New Jersey, that backs deep-tech startups across seed to growth stages with emphasis on human and planetary health. It provides founders with labs, offices, expert teams, mentorship, investor networks, and accelerator-style programs to accelerate product development, testing, commercialization, and fundraising. SOSV operates three deep-tech facilities, including SOSV SF & NY (IndieBio) and HAX in Newark, and supports a portfolio of more than 800 companies across 58 countries. The firm has a broad global footprint with offices in San Francisco, New York, Newark, and Princeton, has raised over 7.5 billion for its portfolio, and makes approximately 60 pre-seed investments annually alongside many follow-on rounds. It seeks co-investors and limited partners to join its network, and pursues cross-border opportunities, notably in Asia, to accelerate growth and fundraising for its startups.

Zoy Capital is a venture capital firm founded in 2013 and based in Beijing, China, with offices in Shanghai, Shenzhen, and Suzhou, focusing on equity investments in artificial intelligence, service robots, and modern media.

NIO Capital is a China-based private equity and venture capital firm, founded in 2016 and headquartered in Shanghai. It targets investments in automotive, new energy and technology sectors, with a focus on mobility transformation, smart industrial systems and smart living. The firm combines a cross-disciplinary team with extensive ecosystem resources to provide founders and innovative technology companies with full lifecycle support, from early diligence through growth stages. Drawing on experience in digitalization and decarbonization, NIO Capital seeks to back next-generation technologies and business models across electric vehicles, autonomous driving, shared mobility, new energy networks and advanced materials, aiming to help portfolio companies scale and deliver attractive returns in a rapidly evolving market.

SB China Venture Capital is a Shanghai-based venture capital and private equity firm founded in 2000, with additional offices in Beijing, Shenzhen, Chengdu, Hangzhou and Taiwan. It targets high-growth technology companies across information technology, artificial intelligence, internet, big data, cloud, fintech, IoT, clean technology, healthcare, consumer/retail and advanced manufacturing, investing across all stages in Greater China. The firm manages USD and RMB funds and couples capital with value-added services such as strategic planning, business development, recruiting and resource deployment to help portfolio companies scale. It has a track record of backing notable companies including Alibaba and Taobao and maintains a broad regional footprint to access deal flow and opportunities throughout the greater China region.

Hua Capital is a Beijing-based venture capital firm focused on the semiconductor sector in China. The team comprises experienced semiconductor industry entrepreneurs and investment professionals with extensive expertise in entrepreneurship, management, and investing. Founded in 2014, the firm pursues professional, international and industry-chain-focused investment strategies and makes investments across stages, including early, growth, and mature opportunities, aiming to create value for portfolio companies and help them become leaders in the semiconductor industry.

Yonghua Capital is the corporate venture arm of Yonghua Group, headquartered in Shanghai. It conducts strategic equity investments across industries such as advanced manufacturing, new energy, new materials, IT, healthcare, energy conservation, environmental protection, education, and media. The firm operates a broad, China-focused investment program and maintains investment teams in major cities to support portfolio companies. Its portfolio comprises more than 80 companies, with over 40 having reached public listings, reflecting experience in scaling and exit execution.

Plum Ventures is a Chinese venture capital firm founded in 2014 and based in China that makes seed and early-stage investments in technology, new media, telecommunications, consumer sectors, hardware and related fields. It supports portfolio companies beyond capital through post-investment services such as follow-on financing, media coverage, legal and tax support, executive search, mentorship, and resource matching to help founders grow and navigate early growth.

CAS Star is a high-tech venture capital firm based in Xi'an, China, with an additional office in Beijing. It invests in optoelectronic chips, artificial intelligence, biotechnology, aerospace, smart manufacturing, information technology, energy, oncology, advanced manufacturing, SaaS, and space technology. Beyond funding, CAS Star engages in technology industry incubation and builds a scientific and technological entrepreneurial ecosystem that includes research institutions, angel funds, incubators, and entrepreneurship training to provide structured support for technology entrepreneurs.

Blue Lake Capital is a Beijing- and Shanghai-based venture capital firm focused on backing early-stage and growth technology companies in China. It emphasizes accelerating digital transformation through investments in software, enterprise services, intelligent manufacturing, and related sectors. The firm provides strategic operations support, talent introductions, and access to resources across a portfolio company’s lifecycle, partnering with founders and operators. It primarily invests in China and typically makes investments of USD 1-15 million per company, aiming to support portfolio companies from inception to scale.

New Alliance Capital is a Shanghai-based venture capital and growth equity firm established in 2008 by Qu Liefeng. It pursues early and growth-stage investments, including pre-IPO opportunities, across sectors such as information technology, healthcare, new energy, and advanced manufacturing, while also targeting high-end manufacturing, consumer goods, media, energy, recycling, environmental protection, and modern services. Typical deal sizes range from about $4.7 million to $31.4 million, and the firm operates from its Shanghai headquarters to back Chinese growth companies in technology and industrial sectors.

Light Silver Capital is a China-based venture capital firm.

Puhua Capital is a venture capital firm based in Hangzhou, China. It focuses on early- and middle-stage investments in internet, health, and technology startups, providing capital and management resources to support portfolio companies. The firm leverages its experience and networks to help startups scale and has invested in nearly 300 startups.

Ivy Capital is a Shanghai-based venture capital firm founded in 2007 that specializes in early-stage and growth investments in technology-driven sectors. It focuses on enterprise services, deep technology, and sectors including hardware, cloud computing, big data, IoT, and artificial intelligence, with a regional footprint across the Yangtze River Delta, Beijing, and the Guangdong–Hong Kong–Macao Greater Bay Area. The firm supports portfolio companies with financial and equity backing and has invested in more than 130 companies, managing over RMB 6 billion in assets. Ivy Capital maintains a broad network of limited partners and ecosystem partners, including guiding funds and state-backed funds, and engages in industry initiatives such as the Ivy Investor Conference and collaborations on large-model applications in enterprise services.

Redpoint Ventures is an independent venture capital firm founded in 1999 and based in California. It invests in seed, early, and growth-stage technology companies across sectors including internet, software, consumer, fintech, healthcare and infrastructure, and provides strategic support to help portfolio companies with product development and go-to-market initiatives. The firm maintains content initiatives that share market insights and trends. Redpoint pursues a global investment approach with billions of dollars in committed capital and investments across the United States and China. It typically acts as a lead or co-lead investor in portfolio companies and seeks to back firms with scalable, technology-enabled potential.

Sky9 Capital is a Shanghai-based venture capital firm founded in 2016 by Ron Cao, with offices in Shenzhen, Beijing, Singapore, Boston, and Paris. It operates globally, investing in seed to growth-stage companies across consumer internet, enterprise software, deep technology, artificial intelligence, robotics, augmented and virtual reality, cloud computing, big data, fintech, and related sectors, with a focus on China and cross-border opportunities. The firm manages about $2 billion in assets and supports founders through long-term partnerships and hands-on guidance to scale teams, products, and global market access. Its portfolio spans early-stage to growth companies with global ambitions, emphasizing disruptive technologies and innovative business models.

Apricot Capital is a venture capital and investment firm focused on the healthcare sector, backing early and growth-stage companies in areas such as biopharmaceuticals, life sciences, medical devices, medical services, and diagnostics. Founded in 2015, the firm operates with a team of more than 20 professionals and consultants who bring experience across life sciences, medicine, finance, and law. The firm is based in Shanghai, China, and seeks to support healthcare ventures through its specialized knowledge and networks.

Shenzhen Guozhong Venture Capital Management is a Shenzhen-based venture capital firm established in 2015. It targets investments in green and low-carbon technologies, new energy vehicles, semiconductors and electronic information, advanced materials and manufacturing, medical and health, and artificial intelligence. The firm is entrusted to manage the first entity fund of the Small Medium Enterprises Development Fund (Shenzhen) LLP, a six-billion-yuan vehicle, with a registered capital of about 100 million yuan; ownership is split between Shenzhen venture capital group (49%) and the SME Development Fund (Shenzhen) management team (51%).

Xin Ding Capital is a venture capital firm based in Beijing, China, founded in 2012.

Winreal Investment is a venture capital firm based in Shanghai, China. Founded in 2015, it focuses on investments in advanced manufacturing, semiconductors, and information technology.

CD Capital is a Shanghai-based venture capital firm focused on life sciences and medical technology. Established in 2013, it manages both USD and RMB funds and supports innovative healthcare companies through early- to growth-stage investments. The firm has backed a broad portfolio of companies across China and global markets, including Urotronic, iRay Technology, Aidite, Qi Biodesign, and Full-Life Technologies, and has facilitated notable milestones such as a Shenzhen listing for Aidite. CD Capital emphasizes helping disruptive medical technologies reach commercial potential and deliver value to its investors.

TF Capital is a venture capital firm based in Shanghai, China, focused on early-stage and growth investments in life sciences and biotechnology. It backs biotech companies across therapeutics, drug delivery, medical devices and related services, partnering with founders from early development toward commercialization. The firm emphasizes strategic support and capital as part of its value creation and has a track record of substantial activity, including more than $1 billion in assets under management and over 100 portfolios, along with more than 20 IPOs and licensing deals that have generated significant upfront payments for portfolio companies.

Vitalbridge Capital is a Shanghai-based venture capital firm founded in 2019 that concentrates on early and growth-stage technology investments, with a focus on AI-native opportunities in education, healthcare and enterprise services. It positions itself as a dedicated AI-native specialist backing China's next generation of technology leaders, supported by global long-term investors. The firm typically makes single investments ranging from US$3 million to US$30 million and backs founders pursuing rapid scaling in AI and related technologies. Through a thematic approach, Vitalbridge seeks to collaborate with entrepreneurs to drive the adoption of technology-enabled services and long-term value creation in the Chinese market and beyond.