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Panda Capital

Venture capital

Seed–Late Stage · 1 people tracked

Not to be confused with Panda Capital (Venture capital · Hong Kong, HK)

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Investment thesis

Founded in 2015 by Li Lun, Panda Capital manages RMB and USD funds exceeding 3 billion RMB. In 2019 it shifted from purely financial investing to industry-focused investing, concentrating on the industrialization of agricultural production and the commercialization and branding of agricultural products to drive the upgrade of China's agriculture sector. Investment stages span from angel round through IPO. Team members come from leading domestic funds or bring backgrounds in agriculture, food, and biological agriculture. The firm emphasizes value discovery, focusing on niche segments, avoiding hype, and identifying genuine opportunities through independent research.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Late Stage
Instruments
Equity
Founded
2015
AUM
$420M
Tracked investments
1

Team · 1 people

from the firm's website

What they invest in

from 1 of 1 portfolio companies

AI & Machine Learning ×1Healthtech ×1Wellness & Fitness ×1

HQs:United States×1

Investments · 1 tracked

founders shown can be your intro path
LemonBoxlemonbox.com

LemonBox uses artificial intelligence to analyze users' diet, health objectives, and biometric information to create customized daily supplement formulations, which it manufactures and ships monthly as personalized packets.

AI & Machine LearningHealthtechWellness & FitnessSan Francisco, US

Derek Weng(Founder)inMeng XianglinHang Xu(Chief Nutrition Scientist)

PartnerLi Lun· solo GP

Co-investorsScrum VenturesWestern Technology InvestmentY CombinatorACME CapitalBamboo Capital PartnersCathexis Ventures+8 more

Frequently asked questions

What stage does Panda Capital invest at?
Panda Capital invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does Panda Capital focus on?
Panda Capital focuses on AgTech, Biotech, Consumer, FoodTech.

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