Puhua Capital
Venture capitalHangzhou · Pre-Seed–Late Stage
Investment thesis
Puhua Capital focuses on venture investing and asset management, centering its long-term strategy on the themes of 'Health + Happiness.' The firm concentrates on four areas: new technology, new energy/new materials, new healthcare, and new consumer. It emphasizes deep, specialized expertise, staffing each niche track with dedicated teams that have strong industry backgrounds and conduct systematic research to make prudent investment decisions. Beyond capital, it contributes industry resources and management guidance, builds lasting partnerships with founders, and runs CEO clubs to foster a collaborative ecosystem among portfolio companies. Its philosophy stresses focus, diligence, stability, candor, and patience.
Source: firm website, verified Jul 31, 2026.
What they invest in
from 28 of 62 portfolio companiesAI & Machine Learning ×7Consumer ×7Hardware ×6Media & Entertainment ×5SaaS ×4E-commerce ×3Enterprise Software ×3Healthtech ×3
HQs:China×24United States×1
Investments · 62 tracked
founders shown can be your intro path360 (Qihoo 360) develops internet security software for consumers, including antivirus tools, a security guard suite, a secure web browser, file compression utilities, and home network firewall/router products.
ConsumerCybersecuritySaaSBeijing, CN
Co-investorsGMO VenturePartnersFortune Venture Capital
Co-investorsThe Innovation Space
ByteDance builds a portfolio of digital platforms and services focused on short-form video, content creation, e-commerce, and workplace collaboration, serving creators and consumers globally.
Creator EconomyE-commerceMedia & EntertainmentBeijing, CN
Yiming Zhang(Founder)inRubo Liang(Founder; Chairman of the Board)inZhang Yiming(Founder)
Co-investors3Comma CapitalAglae VenturesBase PartnersCoatue ManagementEvolution VC PartnersGaldana Ventures+15 more
Chinac (星界云服务) is a Chinese cloud service provider offering IaaS for enterprises and developers, including cloud hosting, cloud databases, backup, disaster recovery, migration, hybrid cloud, high-performance computing, and cloud security products such as web application firewalls.
Cloud ComputingCybersecurityEnterprise Software
Coolcollege (北森酷学院) is an enterprise learning and corporate training platform that uses AI to support course creation, learning assistance, skills practice, leadership coaching, and exams.
EdTechHR TechSaaS
Co-investorsQiming Venture PartnersYunqi Partners
FaceUnity develops AI and computer graphics technologies for digital human avatars, AR video effects, and intelligent terminal solutions.
AI & Machine LearningDeep TechHangzhou, CN
Co-investorsHongtai Capital Holdings
Co-investorsApricot Capital
Kunlun Tech is a Chinese AI technology company, listed on the Shenzhen Stock Exchange, that builds AGI and AIGC products including the Skywork large-model series, AI video (SkyReels), AI music and audio (Mureka), AI social apps (Linky), and information distribution and gaming platforms such as Opera and GameArk.
AI & Machine LearningGamingMedia & Entertainment
Hangzhou Lanran Technology develops and manufactures ion-exchange membranes, membrane modules, and electrodialysis equipment and control systems, along with related engineering and technical services.
CleantechEnergyNew MaterialsHangzhou, CN
Moji (MojiWeather) provides real-time, hyper-local weather forecasting through its consumer weather app and offers commercial meteorological services, including weather-based marketing solutions and forecasting for weather-sensitive industries and businesses.
AdTechAI & Machine LearningConsumerBeijing, CN
Ori Biotech builds IRO, a flexible and scalable manufacturing platform for developing cell and gene therapies.
BiotechHardwareHealthtech
Co-investorsAmadeus Capital PartnersKindred CapitalNovalis LifeSciences
Servyou (税友股份 / 亿企赢) provides digital tax and finance services and government tax administration solutions, including electronic tax bureaus, tax big-data platforms, risk management, social insurance collection, and bookkeeping and advisory tools.
AI & Machine LearningFintechGovTech
Co-investorsQiming Venture Partners
Vedeng (贝登) operates an online B2B marketplace for medical equipment and supplies, offering products such as clinical testing devices, monitoring and diagnostic equipment, imaging, surgical instruments, and medical consumables.
B2B MarketplacesE-commerceMedical DevicesNanjing, CN
Co-investorsMarathon Venture Partners
Ximalaya is a Chinese online audio platform offering on-demand audio content, podcasts, and audiobooks, with a membership subscription and creator tools for uploading and editing audio.
ConsumerCreator EconomyMedia & EntertainmentShanghai, CN
Co-investorsWestSummit Capital
Beijing Xiron Culture Group is a diversified cultural and creative industry group operating across four business lines: book publishing (Xiron Books), film and TV production (Xiron Entertainment), original online literature and digital publishing (Xiron Literature), and comics/animation (Xiron Comics).
ConsumerMedia & EntertainmentBeijing, CN
Pony.ai develops autonomous driving technology and systems for multiple applications including robotaxis, robotrucks, and personally owned vehicles, serving both everyday mobility and commercial logistics markets.
AI & Machine LearningMobility & TransportationRoboticsSilicon Valley, US
James Peng(Founder)inTiancheng Lou(Founder)in
Co-investorsComcast VenturesDCM VenturesMorningside Venture Capital LimitedLegend Capital
Portfolio news
latest coverage across their companiesByteDance · research.contrary.com · Jun 8, 2026
Frequently asked questions
- What stage does Puhua Capital invest at?
- Puhua Capital invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What is Puhua Capital's typical check size?
- Puhua Capital typically writes checks of $1.4M – $112M.
- What sectors does Puhua Capital focus on?
- Puhua Capital focuses on AI & Machine Learning, Cleantech, Consumer, Deep Tech, Digital Health, Energy, Healthtech, Medical Devices, New Materials, Robotics.
- Where is Puhua Capital located?
- Puhua Capital is headquartered in Hangzhou, CN.
- Does Puhua Capital lead rounds?
- Puhua Capital typically participates in rounds rather than leading them.
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