ZhenFund (真格基金) is a prominent Chinese venture capital firm dedicated to early-stage investments across multiple industries. Originating in China, ZhenFund has been at the forefront of supporting startups for over a decade. The firm is inspired by visionary entrepreneurs who aim to reshape the future and has a strong history of impactful investments that underscore this mission.

Since its inception by Bob Xiaoping Xu, who has consistently featured on Forbes Magazine’s Midas List for five consecutive years and was globally ranked #11 in 2019, ZhenFund has built a rich legacy. The firm is co-led by Anna Fang, CEO and Founding Partner, who has also appeared on the Forbes Midas List for five years and achieved the #12 ranking overall in 2022, standing out as the highest-ranked woman.

The fund has backed revolutionary startups such as Red, Nuro, XtalPi, Momenta, SmartMore, and AutoX, spanning sectors from AI and robotics to healthcare and finance. Many portfolio companies have successfully gone public, marking a significant achievement for the investments made by ZhenFund. These companies include Hesai Technology, Ehang, Waterdrop, Yatsen, Tiger Brokers, Niu Technologies, LightInTheBox, 51Talk, Ucommune, Jumei International, and Jiayuan.com.

ZhenFund's philosophy centers around nurturing founders with bold visions and unwavering determination. The firm believes core entrepreneurial skills can only be acquired from hands-on experience. The ethos of ZhenFund emphasizes swift execution over perfection, a resilient mindset for incremental and significant success, and a commitment to continuous learning and evolution.

Among its notable initiatives, TrueCamp (真驿站) aims to create synergy among emerging entrepreneurs, providing an immersive experience into China's startup culture. ZhenCampus, another noteworthy program, facilitates knowledge sharing and networking among university students who are potential entrepreneurs. TrueSummer offers scholarships to support young entrepreneurs in launching their ventures during the summer.

ZhenFund prides itself on a supportive yet unobtrusive relationship with founders, offering quick decision-making, friendly terms, and genuine support. They advocate for a partnership approach rather than prescriptive guidance, aiming to stand firmly with innovators in their journey to predict and create the future.

As a testament to their enduring commitment, ZhenFund has made significant contributions to open-source AI projects like vLLM and ControlNet. This reflects their enduring support for cutting-edge technology and entrepreneurial spirit.

For those interested in pitching business plans or seeking collaboration, ZhenFund remains accessible through various dedicated channels such as dream@zhenfund.com for general submissions, and prompt@zhenfund.com for AI-related projects. The ZhenFund offices are located in Beijing, Shanghai, and Shenzhen, engaging actively with the entrepreneurial community at multiple levels.

Matrix Partners is an early-stage venture capital firm with a storied history of investing in transformative startups. Established in 1977, the firm is headquartered in Menlo Park, California, and has additional locations across the United States, including Boston and San Francisco. Matrix Partners prides itself on its close-knit team of former founders and company builders who partner with visionary entrepreneurs to build industry-leading companies.

Matrix Partners primarily focuses on Seed and Series A investments across a variety of technology-driven sectors. The firm's investment portfolio spans various industries, including enterprise software, cybersecurity, fintech, and health tech, with additional interests in AI, B2B, infrastructure, semiconductors, and consumer sectors. Their primary aim is to identify high-potential startups and nurture them through critical early growth phases.

Some of the notable companies Matrix Partners has invested in include Apple, FedEx, Oculus, Canva, Hubspot, Fivetran, Afterpay, and Zendesk. The firm boasts a track record of partnering with innovators who have deep technical expertise and a clear vision for the future, helping them scale efficiently and achieve remarkable success.

Matrix Partners doesn't just provide capital; it leverages its extensive network and industry knowledge to offer invaluable expertise and mentorship. The team is selective in their investments and generous with their time, working closely with founders to navigate the various challenges of building a startup. The firm's investment strategy revolves around being steady, engaging early, and wearing well, ensuring that they are long-term partners in their portfolio companies' growth journeys.

Notably, Matrix Partners employs a contrarian mindset, investing with conviction and enduring through the ups and downs to support founders who aim to break the status quo. The firm is home to partners who specialize in different sectors, ensuring a well-rounded approach to investment and company building.

Matrix Partners embodies the ethos of being challengers, risk-takers, and change-makers, continuously seeking to back the next wave of groundbreaking technology startups. Whether it's the early-stage conceptual phase or scaling a company to industry leadership, Matrix Partners remains committed to transforming visionary ideas into successful, enduring businesses.

For more information, you can visit their website at Matrix Partners.

Legend Capital is a leading venture capital firm based in China, specializing in early and growth-stage investments across various industries, including technology, healthcare, consumer, and enterprise services. Founded in 2001, Legend Capital has built a strong reputation for identifying high-potential companies and supporting them through strategic guidance, capital investment, and leveraging its extensive network. The firm focuses on companies with innovative business models and strong growth prospects, aiming to help them scale and succeed in competitive markets, both in China and globally.
The firm’s portfolio reflects its broad industry focus and commitment to fostering innovation. Legend Capital is actively involved in helping its portfolio companies navigate challenges, expand their market reach, and achieve sustainable growth. With a deep understanding of the Chinese market and a global perspective, Legend Capital positions itself as a strategic partner for companies aiming to become industry leaders.
Legend Capital’s team comprises experienced professionals with backgrounds in venture capital, entrepreneurship, and corporate management. This diverse expertise allows the firm to provide comprehensive support to its portfolio companies, from operational improvements to strategic planning and capital raising. The firm also emphasizes collaboration and knowledge sharing, creating a strong entrepreneurial ecosystem that benefits both its portfolio companies and the broader startup community.
In addition to its investment activities, Legend Capital is committed to social responsibility and sustainable development. The firm integrates environmental, social, and governance (ESG) considerations into its investment decisions, aiming to create long-term value for both its portfolio companies and society at large. Through its disciplined investment approach and commitment to fostering innovation, Legend Capital has established itself as a leader in the Chinese venture capital landscape.

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GGV Capital is a global venture capital firm that focuses on investing in early and growth-stage companies across various sectors, including technology, consumer, healthcare, and enterprise services. With a presence in the U.S. and Asia, GGV Capital has a diversified portfolio of companies that are driving innovation and shaping the future of their respective industries. The firm emphasizes a hands-on approach, providing strategic guidance, industry expertise, and access to a global network to help its portfolio companies scale and succeed.
Founded in 2000, GGV Capital has a long history of partnering with visionary entrepreneurs, supporting them through multiple stages of growth. The firm’s investment strategy is built on deep sector knowledge and a commitment to helping companies navigate the complexities of scaling in global markets. GGV Capital’s team of experienced investors and operators works closely with founders to develop strategies that drive long-term success, whether in product development, market expansion, or operational excellence.
The firm’s portfolio spans a wide range of industries and geographies, reflecting its belief in the power of technology and innovation to transform industries. GGV Capital is particularly active in sectors such as consumer internet, enterprise tech, and frontier technology, where it seeks to identify and back companies that have the potential to become market leaders. The firm also has a strong focus on helping companies expand internationally, leveraging its cross-border expertise and extensive network to open new opportunities for growth.
In addition to its investment activities, GGV Capital is committed to fostering a global entrepreneurial ecosystem. The firm regularly hosts events, workshops, and forums to connect entrepreneurs with industry leaders, investors, and other key stakeholders. This ecosystem approach enables GGV Capital to create value not only for its portfolio companies but also for the broader startup community.
Overall, GGV Capital is dedicated to empowering entrepreneurs to build transformative companies that can achieve global scale and impact. Through its disciplined investment approach and deep commitment to supporting founders, GGV Capital has established itself as a trusted partner for high-growth companies around the world.

Source Code Capital is a leading venture capital firm based in China, specializing in investments in technology-driven companies that are transforming various sectors, including software, internet services, consumer technology, and emerging industries. Established with the vision of partnering with entrepreneurs who are at the forefront of innovation, Source Code Capital provides not just financial backing but also strategic insights, industry connections, and operational support to help companies achieve their full potential.
The firm’s investment philosophy is centered around identifying and nurturing companies with the potential to become industry leaders, both in China and globally. Source Code Capital focuses on early to growth-stage investments, taking a long-term approach to partnership. This approach involves working closely with portfolio companies to navigate the challenges of scaling, entering new markets, and staying competitive in rapidly evolving industries.
Source Code Capital’s portfolio reflects its commitment to supporting a diverse range of businesses that are driving the future of technology. The firm’s investments span various stages and sectors, from early-stage startups with groundbreaking ideas to more established companies looking to expand their reach and influence.
The team at Source Code Capital brings together deep expertise in venture capital, entrepreneurship, and technology. This diverse background allows them to provide comprehensive support to their portfolio companies, from strategic planning and market entry to fundraising and operational excellence. The firm’s extensive network in China and internationally also offers valuable opportunities for companies to connect with key stakeholders, partners, and resources that can accelerate their growth.
Source Code Capital’s mission is to empower the next generation of technology innovators, helping them build sustainable, high-impact businesses that can shape the future of their industries. Through a combination of capital, expertise, and strategic guidance, Source Code Capital aims to be a trusted partner for entrepreneurs on their journey to success.

Hillhouse Capital is a global investment firm that focuses on long-term, fundamental-driven strategies across various sectors, including technology, consumer, healthcare, and financial services. Founded in 2005, Hillhouse Capital manages billions in assets, partnering with world-class entrepreneurs and companies to drive innovation and growth. The firm's investment approach is rooted in deep research and a thorough understanding of the industries and markets it invests in. Hillhouse Capital takes a holistic view, investing in companies at all stages of development, from startups to established enterprises.
The firm is known for its ability to identify transformative trends and back companies that have the potential to become industry leaders. Hillhouse Capital's portfolio is diverse, encompassing a wide range of businesses that are shaping the future of their industries. The firm is particularly active in Asia, leveraging its deep knowledge of the region's markets and its extensive network of relationships to create value for its portfolio companies.
Hillhouse Capital's investment team comprises experienced professionals with backgrounds in private equity, venture capital, public markets, and operations. This diverse expertise allows the firm to provide comprehensive support to the companies it invests in, from strategic planning and operational improvements to capital raising and market expansion.
The firm also emphasizes sustainability and social responsibility in its investment decisions, aiming to create long-term value not just for its investors but also for society at large. Hillhouse Capital seeks to be a partner of choice for entrepreneurs and businesses that are committed to making a positive impact on the world. Through its disciplined approach to investing, Hillhouse Capital has established itself as a leader in the global investment community, known for its ability to drive growth and innovation across a wide range of sectors.

CCV Capital is a venture capital firm specializing in early-stage investments in technology-driven companies, aiming to support transformative innovations across various industries. The firm primarily focuses on sectors such as fintech, artificial intelligence, healthcare, and other emerging tech domains. With a robust team of experienced professionals, including entrepreneurs and seasoned investors, CCV Capital provides not just financial backing but also strategic guidance to help their portfolio companies scale and succeed in competitive markets.
CCV's investment strategy emphasizes identifying high-potential startups with disruptive technologies and scalable business models. The firm takes a hands-on approach, working closely with founders to refine their business strategies, optimize operations, and prepare for growth. The portfolio showcases a diverse range of companies that reflect the firm's commitment to fostering innovation and driving the future of technology.
In addition to their investment activities, CCV Capital is deeply involved in the startup ecosystem, leveraging their network to connect founders with industry leaders, potential partners, and other resources that can accelerate their growth. The firm’s goal is to create long-term value for both their portfolio companies and investors by nurturing the next generation of tech innovators.
The team behind CCV Capital is a key asset, bringing together diverse expertise from various fields, which enables them to offer comprehensive support to the companies they invest in. This blend of entrepreneurial experience and investment acumen positions CCV Capital as a trusted partner for startups aiming to make a significant impact in their respective industries.
Overall, CCV Capital is dedicated to empowering early-stage companies with the resources, guidance, and network needed to navigate the challenges of growth and emerge as leaders in their fields.

IDG Capital, founded in 1992, is a globally recognized venture fund with a robust focus on Chinese unicorns and groundbreaking technology sectors. As the first foreign investment institution to penetrate the Chinese market, IDG Capital combines a global perspective with local expertise, making it a powerful entity in investment management. Over the years, IDG Capital has invested in more than 1400 companies and successfully exited over 500 investments through IPOs and M&A.

Its significant footprint is evident in its funding of more than half of China's unicorns in their early stages, positioning it among the top three investors in Chinese unicorns, with 33 portfolio companies each valued at over US$1 billion, as per the 2019 Hurun Report. Notable portfolio companies include industry giants such as Tencent, Baidu, Ctrip, Xiaomi, Meituan, iQiyi, Coinbase, SenseTime, Circle, Moncler, and Farfetch.

The firm is dedicated to scientific research, technological innovation, and fostering strategic partnerships, reinforcing its mission to foresee and drive significant societal changes, support visionary entrepreneurs, and create social value. With over 30 years of deep-rooted presence in China and an expansive global reach through offices in pivotal locations like New York, London, Beijing, Guangzhou, Hangzhou, Hong Kong, Macau, Shanghai, Shenzhen, Seoul, Hanoi, and Ho Chi Minh City, IDG Capital maintains long-term stable relationships with various partners, including pension funds, sovereign funds, charity/endowment funds, government-guided funds, banks, insurance companies, industrial capital, and family funds.

IDG Capital's business scope spans venture capital, private equity, and industrial development, ensuring comprehensive backing for companies at different growth stages. The firm is renowned for its excellent track record and has recently facilitated several companies' successful listings, including Aiko Solar, Anker Innovations, Bilbili, and Horizon Robotics.

IDG Capital places great emphasis on brand integrity and warns against fraudulent activities by unauthorized parties misusing its name for illegal activities. The firm's founder, Mr. Hugo Shong, is no longer associated with IDG Group, further emphasizing IDG Capital's independent operational status. For more details, visit their official website: https://idgcapital.com.

Sequoia Capital is a leading venture capital firm based in Menlo Park, California, recognized for its storied legacy of partnering with visionary founders to build transformative companies from idea to IPO and beyond. With over 50 years of experience, Sequoia has consistently demonstrated an unwavering commitment to fostering innovation across a vast array of industries, particularly in technology, artificial intelligence, health care, and security. Sequoia China, currently known as HongShan since 2023, is the firm's investment arm in Beijing, China.

Sequoia Capital's investment ethos revolves around being the first true believers in the most promising and daring entrepreneurs. Each year, the firm meticulously selects a few standout ventures, dedicating extensive hands-on assistance to nurture these companies through every stage of their growth journey. This approach has enabled Sequoia to help shape many of the world's most iconic enterprises. The firm's impressive portfolio includes collaboration with legendary founders like Steve Jobs of Apple, Larry Page of Google, Jan Koum of WhatsApp, Adi Tatarko of Houzz, Brian Chesky of Airbnb, Jensen Huang of Nvidia, Anne Wojcicki of 23andMe, Eric Yuan of Zoom, Patrick Collison of Stripe, Julia Hartz of Eventbrite, and Sebastian Siemiatkowski of Klarna.

Notably, companies backed by Sequoia collectively represent over 25% of the total value of Nasdaq, underscoring the firm's profound impact on the global business landscape. This unparalleled success has been driven by Sequoia's steadfast dedication to identifying and nurturing ground-breaking ideas that have the potential to redefine industries and create enduring value.

Sequoia Capital invests predominantly on behalf of non-profit organizations and educational institutions, including venerable entities like the Ford Foundation, Mayo Clinic, and MIT. This ensures that the majority of investment returns benefit significant societal causes, further highlighting Sequoia's commitment to fostering positive change beyond the business realm.

On its website, Sequoia Capital offers a plethora of resources to the entrepreneurial community, including perspectives on disruptive trends such as artificial intelligence, open-source projects, and climate change initiatives. The firm also provides insights into achieving product-market fit, sales optimization, and scaling businesses effectively. With a focus on continuous learning and knowledge sharing, Sequoia hosts events like the AI Ascent conference and supports open source projects through fellowships.

Sequoia's robust network, enriched by decades of expertise, positions it uniquely to provide unparalleled support to founders at every stage. From the inception of an idea through various stages of growth, and eventually to a successful IPO, Sequoia's holistic approach ensures that visionary entrepreneurs have the support they need to build legendary companies.