INCE Capital
Venture capitalActively deployingShanghai · Seed–Late Stage · 8 people tracked
Also known as INCE Capital Partners
Investment thesis
INCE Capital is a globally focused venture capital firm targeting companies from early through expansion stages. It backs businesses driving innovation across artificial intelligence, broader technology, consumer, and biotech sectors, supporting them as they scale.
Source: firm website, verified Aug 11, 2026.
Team · 8 people
from the firm's website & public directories
What they invest in
from 12 of 28 portfolio companiesAI & Machine Learning ×7Biotech ×3Consumer ×3Crypto & Web3 ×2SaaS ×2Cleantech ×1Creator Economy ×1Data & Infrastructure ×1
HQs:China×2Japan×1United States×1
Investments · 28 tracked
founders shown can be your intro pathBambusa Therapeutics develops bispecific antibodies for immunological and inflammatory (I&I) disorders, using antibody engineering to target multiple I&I indications.
BiotechHealthtechMedical DevicesAustin, US
Shanshan Xu(Founder & Chief Executive Officer)Helmut Jeggle(Co-Founder)Thang Ho(Chief Development Officer)Crystal MacKay(Chief Operating Officer)
Bubblemaps builds visual analytics tools that map token distributions and ownership on-chain, and provides on-chain investigation ("sleuthing") services.
AI & Machine LearningCrypto & Web3Data & Infrastructure
ClassIn builds hybrid learning platforms that combine software and hardware for interactive online and in-person classes.
AI & Machine LearningEdTechSaaS
Delonix Group operates multiple hotel and experiential consumption brands across Asia-Pacific, leveraging AI and digital technology to drive member growth and innovation in hospitality.
Consumer
郑南雁
Dyna develops general-purpose robots powered by foundation models that adapt across environments and learn new skills rapidly, with deployment across a fleet that continuously improves.
AI & Machine LearningDeep TechRobotics
AI-driven biotechnology company advancing next-generation biologics for autoimmune diseases, cancer, and other areas of unmet medical need.
Hakko builds AI companions designed for gaming and daily life, aiming to interact with users, form memories, and build ongoing relationships.
AI & Machine LearningConsumerGaming
MyShell is an AI platform for creating images, portraits, filters, and short videos, including a product called MyShell Art with a graphical interface aimed at casual users and digital creators.
AI & Machine LearningConsumerCreator Economy
Healthy snack brand using protein and dietary fiber to reformulate traditional snacks.
Maker of a consumer-grade embodied intelligence companion robot; its mass-produced Vbot Robot Dog won a Best of CES award at CES 2026.
INCE Capital is a venture capital firm that invests in early to expansion-stage companies in AI, technology, consumer, and biotech sectors.
AI & Machine LearningBiotech
Exits · 1
IPOs and acquisitions across the tracked portfolioWeiboNASDAQ: WB
Portfolio news
latest coverage across their companiesDyna Robotics · citybiz.co · Jul 15, 2026
Avenzotx · geekwire.com · Jul 13, 2026
Frequently asked questions
- What stage does INCE Capital invest at?
- INCE Capital invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What sectors does INCE Capital focus on?
- INCE Capital focuses on AI & Machine Learning, Biotech, Consumer, Crypto & Web3, EdTech, Enterprise Software, Hardware, Media & Entertainment, Retail Tech, SaaS, Semiconductors.
- Where is INCE Capital located?
- INCE Capital is headquartered in Shanghai, CN.
- Does INCE Capital lead rounds?
- INCE Capital typically participates in rounds rather than leading them.
Media · Podcasts & interviews
featuring the teamJP Gan, '99, founding partner, INCE Capital - Distinguished Speaker Series
The University of Chicago Booth School of Business · JP Gan
Watch Online Companies Benefit From Shelter-In-Place, Says JP Gan of INCE Capital - Bloomberg
JP Gan · bloomberg.com
Co-investors · 6
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Notable Capital is an early-stage venture firm that partners closely with founders, providing hands-on operational support through a platform team of experienced operators across hiring, sales, leadership development, storytelling, and engineering.
Tiger Global is a research-driven investment firm that partners with innovative, high-quality companies over the long term across various stages of their lifecycle.
Goodwater Capital is a consumer technology investment firm backing entrepreneurs building companies across sectors such as housing, healthcare, food delivery, financial services, education, entertainment, and transportation.
5Y Capital positions itself as entrepreneurs who happen to run a venture firm, focusing on finding founders with "crazy" visions that contradict market consensus when others dismiss them as unrealistic. The firm has built a track record of early bets on Chinese tech leaders like Kuaishou, Xiaomi, and SenseTime, while deliberately expanding into new domains like AI infrastructure and biotech despite having no prior experience in those sectors.
Firms observed investing alongside INCE Capital, from public investor directories. Shared companies are the overlap with INCE Capital's recorded portfolio.
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