How many investments has IPV made?

IPV has 42 tracked investments, 2 of which have exited, including 6 dated in the last 24 months.

What stage does IPV invest at?

IPV invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.

What sectors does IPV focus on?

IPV focuses on Deep Tech, Energy, Hardware, IoT, Semiconductors.

Where is IPV located?

IPV is headquartered in Beijing, CN.

Does IPV lead rounds?

Yes, IPV leads investment rounds.

Who does IPV co-invest with?

IPV most often shares deals with Infotech Ventures, InvestX, Kleiner Perkins, among 7 tracked co-investors.

IPV

Venture capital

Beijing · Seed–Late Stage · 14 people tracked

Also known as IPV MANAGEMENT SERVICES, LTD. · IPV Stripe IronArc

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Find your way into IPV

827 people in our graph share verified history with the IPV team — schools, employers, funds. One of them is your warm intro.

Linn Hege Auneunlockedknows Mok · together at EY China (overlapped)

×4knows the team · via EY China

×3knows the team · via Arthur Andersen & Co.

knows the team · via McGill University

knows the team · via AIESEC

knows the team · via University of Malaya

✨ Fox Verdict

Investment thesis

IPV Capital invests in technology companies with a strong concentration on China's semiconductor industry, spanning chip design, memory, RF, MEMS, analog, and semiconductor materials. The firm positions itself as a lead investor in a large share of the most valuable semiconductor design IPOs globally over the past decade, backing companies such as GigaDevice, SG Micro, NSIG, Maxscend, and Ingenic. Leveraging deep operational, government-affairs, and venture experience across China and international markets, IPV takes board roles and supports portfolio companies through growth, listing, and exit, combining venture capital and private equity approaches within the global technology sector.

Invests inDeep Tech Energy Hardware IoT Semiconductors Asia-Pacific Beijing China Global Menlo Park

Source: firm website, verified Sep 15, 2026.

Stage

Seed–Late Stage

Beijing, CN

Leads rounds

Leads

Instruments

Equity

Founded

2006

Last 12 months

6 investments

AUM

$3.4B

VC funds

Tracked investments

IPOs

Acquisitions

Team · 14 people

from the firm's website & public directories

Roger· Co-Founder

Joined Infotech in 2003 as CIO and in 2006 co-founded IPV Capital, leading investments into Maxscend, SG Micro, GigaDevice, Senodia and Simgui (NSIG). He previously held executive roles at Codex Group and CollabNet and holds an MBA from the University of Wales.

Patrick Flynn· General Partner

David· Partner

Joined IPV Capital's Advisory Board in 2006 and full-time in 2015, with 20+ years as a VC investor at JPMorgan Partners, ComVentures and Gramercy, and a decade in tech investment banking. He holds a BA from UC Berkeley and an MBA from Wharton.

Ning· Partner

Has over 30 years of experience in global PE and VC markets and has held board positions at IPV-backed companies including GigaDevice, Tongtech, iFlytek and iSoftstone. He previously was a senior executive at China International Economic Consultants and holds an MBA from CEIBS.

Terence· Managing Partner· United Kingdom

With IPV Capital since 2006 and a Managing Partner on IPV Capital I & II, he has held board memberships at IPV-backed companies including Amprius, Giantec Semiconductor, K-Vision and V-Key. He was previously Head of Asia at Worldview Technology Partners and holds an MBA from Oklahoma City University.

Alex Banh· Managing Partner· Hong Kong SARin

Joined IPV as an Entrepreneur in Residence in 2009 and became a full-time Partner in 2010, bringing 20+ years of venture capital and executive operations experience in China's tech industry. He holds a Bachelor of Commerce from McGill University and chairs its Asia Regional Advisory Group.

t•••@ipvcap.comreveal

F. Roger Li· Managing Partner

r•••@ipvcap.comreveal

Tingru Liu· Chairman and Managing Partner

Co-founder of IPV Capital with 30 years of experience in global VC/PE, operations and government affairs in China's tech industries, having led investments into GigaDevice, SG Micro, NSIG and Ingenic. He previously held senior roles at China's Ministry of Information Industry and holds a BSc from Peking University.

t•••@ipvcap.comreveal

Tom· Venture Partner, Europe· Switzerland

IPV's Venture Partner in Europe, a close affiliate since 2006 who invested personally and directed client capital into IPV's funds, with nearly 20 years in PE and direct investing and earlier tech coverage at Credit Suisse. Since 2016 he has been head of business development and CFO of FlowGen in Switzerland.

Mok· CFO· United Kingdom

Joined IPV Capital in 2011 as CFO and has held board positions in several IPV-backed companies including Tiandi Energy, V-Key and Giantec Semiconductor. He previously was a group CFO in renewable energy and a consultant at Arthur Andersen, Deloitte and Ernst & Young; he is a CFA charterholder.

Ms. Huang· Compliance and Risk Officer

Returned to IPV Capital in 2021 overseeing compliance, risk control and back office, having previously served as a vice president and investment team member; she began her PE career at CID Group. She holds an MBA in Finance from CEIBS and a materials engineering master's from Shanghai Jiao Tong University.

Tiemin Zhao· Advisor / Team Member

A semiconductor R&D and operations expert who joined IPV as an advisor turned team member, considered a leading authority on semiconductor technology. He holds a PhD in EE from Stanford and has served on three startup boards contributing to two profitable exits.

Wesley· Advisor

An advisor to IPV with 15+ years in global PE, M&A and VC markets, currently Chairman and Founding Partner of L&L Capital. He has held board positions at IPV-backed companies including Senodia and Simgui and holds an EMBA from CEIBS.

Kuan Wei Mok· CFO

m•••@ipvcap.comreveal

What they invest in

from 21 of 42 portfolio companies

AI & Machine Learning ×9Enterprise Software ×6Fintech ×5SaaS ×5Digital Health ×4Healthtech ×4Consumer ×3E-commerce ×3

HQs:United States×7India×6China×2Japan×1Kenya×1

Investments · 42 tracked

founders shown can be your intro path

By year:2026 · 5 2025 · 1 2023 · 1 2022 · 3 2021 · 1 2020 · 1 2014 · 113 dated

Ampriusamprius.com inNYSE: AMPXSep 2022

Amprius develops and manufactures silicon-anode lithium-ion battery cells that deliver high energy density.

CleantechEnergyHardwareNew MaterialsFremont, US

Kang Sun(Executive Officer, Director)Constantin Ionel Stefan(Executive Officer)in Sandra Wallach(Executive Officer)inThomas M. Stepien(President, Chief Executive Officer and Director)Ricardo C. Rodriguez(Chief Financial Officer)inC. Ionel Stefan(Chief Technology Officer)in

Co-investorsInvestX Kleiner Perkins VantagePoint Capital Partners ForgePoint Cybersecurity IPV Capital Matter Venture Partners

Alchemistalchemistaccelerator.com in 𝕏Jan 2026

Alchemist is an accelerator that supports a global community of founders through investment, mentorship, and operational guidance across multiple regions.

AI & Machine LearningDeep TechEnterprise SoftwareSector AgnosticSan Francisco, US

Ravi Belani(Founder & Chairman)in

Co-investorsEcho River Capital Simya VC DSG Consumer Partners Unilever Ventures

Badilibadili.keMay 2023 · $2.1M

Badili Kenya sells certified refurbished smartphones such as the Apple iPhone 11 and iPhone 11 Pro, each passing quality checks and backed by a 12-month warranty and 7-day replacement guarantee.

Circular EconomyConsumerE-commerceNairobi, KE

Keshu Dubey(Founder)

Co-investorsE3 Capital Proparco SOSV Venture Catalysts

Dream Incubatordreamincubator.co.jp in 𝕏

Dream Incubator Inc. is a Tokyo-based firm providing business production ("business produce") consulting and startup incubation services.

Developer ToolsEnterprise SoftwareSaaSTokyo, JP

三宅孝之(代表取締役社長)細野恭平(取締役副社長)Takayuki Miyake(Representative Director & President)Kyohei Hosono(Director & Executive Vice President)in

Co-investorsDIMENSION BEENEXT Better Capital Chiratae Ventures Prime Venture Partners Venture Catalysts +1 more

Ewarewar.inDec 2020

EWar is a Bengaluru-based vernacular mobile gaming and esports platform for casual, skill-based and real-money games.

Co-investorsHyderabad Angels JITO Angel Network

Glamplusglamplus.in

Bengaluru-based SaaS-enabled B2B beauty marketplace supplying salons and spas with management software and products.

Bengaluru, IN

Vatsalya A(Founder)Vatsalya Agarwal(Founder)Divyanshu Singh(Founder)in Rohan Singh(Founder)in

Co-investorsHyderabad Angels Kube VC Upsparks Capital Blume Ventures

Healofyhealofy.com in 𝕏Oct 2021

Healofy is a maternity care platform serving Indian mothers with personalized content, community support, and physical wellness products.

ConsumerDigital HealthE-commerceFemTechHealthtechWellness & FitnessNot stated, IN

Aradhana Singh(Founder)in

Co-investorsSprint Vc TDV Partners Omidyar Network Omidyar Network India Stride Ventures Venture Catalyst

Healthyhealthy.capital

Healthy.Capital is a venture investor focused on digital health solutions, backing early-stage companies that apply technology to healthcare.

Digital HealthHealthtech

Douwe Jippes(Founder)in

Co-investorsPeak

Healthyhealthy.vc in 𝕏

Healthy Ventures is an early-stage venture capital firm that makes high-conviction investments in health tech startups.

Digital HealthHealthtech

Co-investorsAtento Capital

Healthyhealthy.io in 𝕏

Healthy.io transforms smartphone cameras into clinical-grade medical devices to enable remote health testing and monitoring.

AI & Machine LearningDigital HealthHealthtechMedical Devices

Yonatan Adiri(Founder)in

Co-investorsKli Capital Levante Capital Samsung Next

Hooprhoopr.ai in 𝕏

Hoopr provides a catalog of licensed, copyright-safe music recorded by musicians in India, along with AI tools that match soundtracks to videos and a built-in editor.

AI & Machine LearningCreator EconomyMedia & Entertainment

Co-investorsDholakia Ventures The Chennai Angels Venture Catalysts

iFlytekiflytek.com

Listed AI and voice technology company

Co-investorsInfotech Ventures Legend Capital

iSoftStoneisoftstone.com in

iSoftStone (软通动力) is a China-listed IT and digital technology services company (stock code 301236) providing consulting, digital technology services, and industry solutions in areas such as cloud, AI and large models, industrial internet, and data services.

AI & Machine LearningCloud ComputingEnterprise Software

刘天文(董事长兼首席执行官 (Chairman & CEO))

Co-investorsInfotech Ventures Fortune Venture Capital

LoanKuberloankuber.com

Loankuber provides mortgage lending and affordable financing to low-income communities and MSMEs, using data mining and analytics to assess the economic value of semi-urban and rural properties.

FintechImpact & Social Good

Co-investorsAuxano Sprint Vc

Palette Brandspalettebrands.com in

Palette Brands is a house of direct-to-consumer consumer product brands—including Ember (non-stick cookware), Totem (Apple accessories), and Unbottle (reusable bottles)—targeting aspirational affluent Indian consumers in the mass premium segment.

ConsumerDirect to ConsumerE-commerceBengaluru, IN

Siddharth Gadodia(Co-founder)in Himanshi Tandon(Co-founder)in

Co-investorsDholakia Ventures

Podworkwithpod.com in 𝕏Jul 2026

Pod provides AI-augmented sales tools designed to help sellers make faster, smarter decisions and close deals more efficiently.

AI & Machine LearningEnterprise SoftwareSaaSSales Tech

Co-investorsBling Capital Drive Capital Inflection Point Ventures

Podpod.network 𝕏Jul 2026

Pod Network is a Layer-1 blockchain built for high-performance, MEV-free trading markets, clearing orders in batches to remove front-running advantages.

Crypto & Web3Data & InfrastructureFintechNew York City, US

Haris Karavasilis(Founder)

Co-investors1k(x)1kx Lemniscap Protagonist

Raahoraaho.in in 𝕏

Raaho operates a digital freight network connecting shippers and truckers across India, using technology and data science to match freight loads efficiently.

B2B MarketplacesLogistics & Supply ChainMobility & TransportationIndia, IN

Imthiaz(CEO)

Co-investorsRoots Ventures

Readread.ai in 𝕏Jul 2026

Read AI builds automated meeting summaries, transcripts, and action items using AI to help knowledge workers reduce time spent on meetings, emails, and messages.

AI & Machine LearningEnterprise SoftwareFuture of WorkSaaSSeattle, US

David Shim(Co-founder)inRobert Williams(Co-founder)inElliott Waldron(Co-founder)in

BoardBrad Twohig(Director)Matt McIlwain(Director)Coddy Johnson(Director)

Co-investorsMadrona Venture Group Smash Capital

Roopyaroopya.moneyFeb 2026

Roopya is a no-code lending infrastructure platform that covers the full lending lifecycle, from loan origination and servicing to collections, with pre-integrated APIs for credit bureaus, verification, and payments.

AI & Machine LearningFintechSaaS

Raman Vig(Founder)in

Co-investorsIIMA Ventures

Tactus Technology inSeries B · Jan 2014 · $18M

Fremont, US

Micah Yairi(Executive Officer, Director)Perry Constantine(Executive Officer, Director)

BoardTiemin Zhao(Director)Nobi Kambe(Director)Umesh Padval(Director)in

Co-investorsThomvest Ventures

thimblerrthimblerr.com inNov 2025 · $1.4M

Thimblerr provides fashion brands with AI-assisted design, raw material sourcing, and tech-enabled manufacturing to take apparel from concept to delivery.

Advanced ManufacturingAI & Machine LearningB2B Marketplaces

Co-investorsBetter Capital Mount Judi Ventures 3one4 Capital Venture Catalysts We Founder Circle

Vested Financevestedfinance.com in 𝕏Apr 2022 · $12M

Vested Finance is an investment platform that lets Indian residents and NRIs invest in over 10,000 US stocks and ETFs, including full and fractional shares.

FintechAustin, US

Sourabh Ahuja(Executive Officer)Mike Bruno(Executive Officer)

BoardRussell Geyser(Director)Lorne Abony(Director)in

Co-investorsCPP Investments Morgan Stanley Premji Invest TA Associates Think Investments Tiger Global Management +10 more

Webnyaywebnyay.in in 𝕏

A compliance platform that manages grievance redressal workflows for organizations under Indian regulatory frameworks, including IT Act 2000, RBI guidelines, and Digital Personal Data Protection Rules.

AI & Machine LearningEnterprise SoftwareFintechGovTechLegalTechSaaSNoida, IN

VishwamIshita

Co-investorsSucSEED Indovation Mumbai Angels

兆易创新 (GigaDevice)gigadevice.com in

GigaDevice Semiconductor is a fabless supplier of Flash memory, 32-bit general-purpose microcontrollers, sensors, and analog products, serving over 20,000 customers globally.

HardwareIoTSemiconductors

Co-investorsTusStar WestSummit Capital

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

GiantecGrandMetalsHomiIngenicMaxscendNSIGQ TechQ TechnologySenodiaSG MicroSimguiTiandi EnergyTongTechTSHTV-KeyVimicroVobile

Exits · 2

1 IPOs · 1 acquisitions

AmpriusNYSE: AMPXQ Technologyacq. by TSHT

Portfolio news

latest coverage across their companies

NC’s Healthy Opportunities Pilot is coming back — but not at full strength | WFAE 90.7 - Charlotte's NPR News Source

Healthy · wfae.org · Sep 9, 2026

AI cloud operator Groq raises $350M more in funding - SiliconANGLE

Pod · siliconangle.com · Aug 17, 2026

AKTU doubles Homi Bhabha fellowship slots to 100, increases stipend to ₹60,000 | Lucknow News - The Times of India

Homi · timesofindia.indiatimes.com · Aug 17, 2026

Amprius Technologies (AMPX) Could Be 43% Below Fair Value After Raised 2026 Outlook - Simply Wall St News

Amprius · simplywall.st · Aug 15, 2026

West Siders Turn Out For Healthy Food Event As Windy City Harvest Gets Funding Boost

Healthy · blockclubchicago.org · Aug 10, 2026

Naptapgo raises inr 8 crore in seed funding led by inflection point ventures, ETTravelWorld

Read · travel.economictimes.indiatimes.com · Jul 18, 2026

NapTapGo Raises Rs 8 Crore Seed Funding From IPV to Expand Pod Hotels

Pod · siliconindia.com · Jul 18, 2026

Online Investment Platform Vested Finance Raises $3.6 Million in Seed Funding

Vested Finance · siliconindia.com · Jun 27, 2026

Frequently asked questions

How many investments has IPV made?: IPV has 42 tracked investments, 2 of which have exited, including 6 dated in the last 24 months.
What stage does IPV invest at?: IPV invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does IPV focus on?: IPV focuses on Deep Tech, Energy, Hardware, IoT, Semiconductors.
Where is IPV located?: IPV is headquartered in Beijing, CN.
Does IPV lead rounds?: Yes, IPV leads investment rounds.
Who does IPV co-invest with?: IPV most often shares deals with Infotech Ventures, InvestX, Kleiner Perkins, among 7 tracked co-investors.

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