🦊/Investors

Puhua Capital

Venture capital

Hangzhou · Pre-Seed–Late Stage

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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.

Stage
Pre-Seed–Late Stage
Check
$1.4M – $112M
HQ
Hangzhou, CN
Leads rounds
Follows
Instruments
Equity
Founded
2004
Tracked investments
65
IPOs
1

What they invest in

from 31 of 65 portfolio companies

AI & Machine Learning ×12SaaS ×10Consumer ×7Hardware ×7Enterprise Software ×6Healthtech ×6Media & Entertainment ×5Medical Devices ×5

HQs:China×26United States×2United Kingdom×1

Investments · 65 tracked

founders shown can be your intro path

By year:2022 · 32020 · 14 dated

小马智行 (NASDAQ: PONY)pony.aiin𝕏NASDAQ: PONY

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 VenturesF-Prime CapitalMorningside Venture Capital LimitedLegend Capital

360360.cn

360 is a Chinese internet security company founded in 2006 that pioneered a free security model and provides cybersecurity solutions for enterprises, government agencies, and cities.

ConsumerCybersecurityEnterprise SoftwareGovTechSaaSBeijing, CN

周鸿祎(Chairman/Founder)Zhou Hongyi(Founder, Chairman & CEO)

Co-investorsGMO VenturePartnersFortune Venture Capital

ByteDancebytedance.com

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+16 more

Chinacchinac.com

Starworld Cloud Services is a cloud computing brand providing infrastructure and services to Chinese enterprises, including elastic computing, SDN networking, data storage, databases, security, and cloud migration solutions.

Cloud ComputingCybersecurityEnterprise SoftwareXiamen, CN

Congenicacongenica.comNov 2020 · $50M

Congenica provides genomic variant analysis and interpretation software for clinical diagnostic laboratories.

AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesCambridge, GB

Co-investorsCambridge Innovation CapitalQVenturesAmadeus Capital PartnersFuture Planet CapitalIDO InvestmentsLegal & General

Coolcollegecoolcollege.cn

A Chinese enterprise training and talent development platform that integrates learning with instant messaging and AI technology.

AI & Machine LearningEdTechEnterprise SoftwareHR TechSaaS

Co-investorsQiming Venture PartnersYunqi Partners

Cyhmcyhm.com

创业黑马 is China's leading enterprise technology innovation service platform and city industry acceleration base.

EdTechEnterprise SoftwareFuture of WorkSaaSBeijing, CN

Esse.Orgesse.org.cn

The company develops and operates projects in waste heat recovery, solid waste disposal, and CO2 capture and utilization, primarily serving heavy industries such as steel, chemicals, and non-ferrous metals.

Circular EconomyCleantechClimate TechEnergyNew MaterialsBeijing, CN

Faceunityfaceunity.comin

FaceUnity develops digital human solutions and body imaging technology by combining computer graphics and artificial intelligence.

AI & Machine LearningDeep TechSaaSHangzhou, CN

Co-investorsHongtai Capital Holdings

Fit2Cloudfit2cloud.com

Fit2Cloud develops and distributes open-source software products for enterprise management, including cloud infrastructure management, AI CRM, security access control, business intelligence, and testing platforms.

AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise SoftwareSaaSHangzhou, CN

Galactic Energygalactic-energy.cn

Galactic Energy is a Chinese commercial aerospace company providing rocket launch services, aerospace equipment manufacturing, and systems-integration solutions for domestic and international space customers.

Deep TechHardwareSpace TechBeijing, CN

Immomoimmomo.com

Momo is a location-based mobile video social platform launched in 2011 that enables users to discover nearby people and communities through video, text, voice, and images.

ConsumerMarketing TechMedia & EntertainmentSocial

唐岩(Founder/Chairman/Chief Executive Officer)

Kunlunkunlun.com

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 & EntertainmentBeijing, CN

Lanran.Comlanran.com.cnin

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

Leoaoleoao.com

Leoao is a digital fitness platform founded in 2015 in Hangzhou that operates a network of small-format fitness studios and online fitness services across China.

ConsumerHealthtechSaaSSports TechWellness & FitnessHangzhou, CN

Lyly.com

Ly.com (Tongcheng) is a Chinese online travel service platform offering bookings for domestic and international tours, sightseeing packages, and destination trips, along with travel insurance products.

ConsumerMarketplacesTravel & Hospitality

Micro Tech.Commicro-tech.com.cn

A Chinese medical device manufacturer producing endoscopy, interventional radiology, and surgical instruments for clinical use.

HardwareHealthtechMedical DevicesNanjing, CN

Mojimoji.com

Moji Weather is a global weather service platform that provides hyperlocal weather forecasts and atmospheric insights to consumers and enterprise customers across 199 countries and over 200,000 cities.

AdTechAI & Machine LearningConsumerData & InfrastructureSaaSBeijing, CN

Orioriliving.comin𝕏Jan 2022 · $100M

Ori develops expandable-unit technology for multifamily real estate, enabling hotel-to-housing conversions and ground-up developments that increase unit density while maintaining livability.

Construction TechHardwareImpact & Social GoodPropTech

Co-investorsIngka InvestmentsPresidio VenturesThe E14 FundAmadeus Capital PartnersDelin VenturesKhosla Ventures+3 more

Oriori.ioJan 2022 · $100M

ORI provides an integrated business planning platform for supply chain professionals, combining demand planning, S&OP, S&OE, data analytics, and long-term planning in one tool.

AI & Machine LearningLogistics & Supply ChainSaaS

Brant Slade(Founder)in

Co-investorsKickstartAmadeus Capital PartnersDelin VenturesKhosla VenturesNorthpond VenturesNovalis LifeSciences+2 more

Ori Biotechoribiotech.comin𝕏Jan 2022 · $100M

Ori Biotech develops manufacturing automation platforms for cell and gene therapies, addressing scalability and cost barriers that limit patient access to these treatments.

Advanced ManufacturingBiotechDeep TechHardwareHealthtechMedical Devices

Co-investorsAmadeus Capital PartnersKindred CapitalNovalis LifeSciencesDelin VenturesNorthpond VenturesOctopus Ventures

Pimchippimchip.cn

PIMCHIP develops compute-in-memory (processing-in-memory) semiconductor architecture that fuses data storage and computation to reduce the energy cost of data movement and address the "memory wall" and "power wall" in AI workloads.

AI & Machine LearningHardwareSemiconductors

Remebot.Comremebot.com.cn

Founded in 2010, Baihui Weikang (Remebot) develops, manufactures, and operates surgical robots for neurosurgery, orthopedics, and dental procedures used in hospitals.

AI & Machine LearningHealthtechMedical DevicesRoboticsChongqing, CN

Servyou.Comservyou.com.cn

A Chinese fintech and digital governance platform that provides intelligent accounting and tax management services for enterprises and government agencies.

AI & Machine LearningEnterprise SoftwareFintechGovTech

Tinychip.Comtinychip.com.cn

Shanghai Tinychip designs and manufactures high-performance microcontroller units (MCUs) for IoT applications.

HardwareIoTMobility & TransportationSemiconductorsShanghai, CN

Vedengvedeng.com

Beidenmedical is a medical device supplier and distributor serving healthcare dealers and partners in China, operating a digital supply and services platform for medical equipment distribution.

B2B MarketplacesE-commerceHealthtechMedical DevicesSaaSNanjing, CN

Co-investorsMarathon Venture PartnersSinovation Ventures

Ximalayaximalaya.com

Ximalaya is an online audio sharing platform providing podcast-like content spanning 101 categories across audio content for all age groups.

ConsumerCreator EconomyIoTMedia & EntertainmentShanghai, CN

Co-investorsWestSummit CapitalKleiner PerkinsSierra VenturesSony Music Entertainment

Xirongroupxirongroup.cn

Beijing Morethan Group is a diversified cultural and creative media company that publishes books, develops film and television content, operates digital literature platforms, and produces animated content.

ConsumerCreator EconomyMedia & EntertainmentBeijing, CN

Yeestoryeestor.comin𝕏

Yeestor develops LDPC error-correction algorithms for storage controllers across mobile, consumer, and enterprise SSD markets, supporting various NAND Flash types.

AI & Machine LearningData & InfrastructureHardwareSemiconductorsShenzhen, CN

吴大畏(董事长 (Chairman))

Youzanyouzan.com

Youzan is a merchant services company that helps businesses privatize customer assets, expand online customer bases, and improve operational efficiency.

E-commerceRetail TechSaaS

Zero2Ipo.Comzero2ipo.com.cn

Zero2IPO (Qingke) is a China-based firm providing services across private equity and venture capital, including research, consulting, media, investment training, and capital/fund management.

Fintech

Other

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

AcrobiosystemsAimbioAstra BiotechBangcleCloudwalkCt CdmCtsecDeltaphone.ComGbgcnGreatmicrowaveGuomaiHqytgyhJl1Kedigroup.ComKuaidadiLaihuaLinglongLqxshopLvmamaMaogepingbeautyMatridxMchz.ComMindmotion.ComSdireadShsusShulanhealthSj56.ComSoftrobottechSupcontechSxthyyUnionbigdataWitintechWorgpharmaXy Technology

Exits · 1

1 IPOs

小马智行 (NASDAQ: PONY)NASDAQ: PONY

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Puhua Capital made?
Puhua Capital has 65 tracked investments, 1 of which have exited.
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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