Fundraising Fox

ZhenFund

Venture capital

Beijing · Pre-Seed–Series B · 27 people tracked

Also known as ZHEN ADVISORS, LTD.

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Investment thesis

ZhenFund focuses on early-stage entrepreneurs in China, supporting founders from the earliest steps of company building. It runs programs such as the Zhen Summer Grant (offering scholarships to teams to launch their first company), ZhenResidence (a multi-day 'Mini Business School' held in Beijing, Shanghai and Shenzhen to help potential entrepreneurs), ZhenCampus (a university startup-sharing series connecting students and researchers with founders and investors), and generative AI hackathons supporting the technology industry. The firm actively engages with high-potential founders and increasingly emphasizes AI and technology innovation.

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed–Series B
Check
$425K – $28M
HQ
Beijing, CN
Leads rounds
Follows
Instruments
Equity · Grants
Founded
2011
Private fund assets
$2.5B
VC funds
21
Tracked investments
36

Team · 27 people

from the firm's website & public directories
Olivia Wang· Vice President, Head of U.S.

What they invest in

from 9 of 36 portfolio companies

AI & Machine Learning ×5Enterprise Software ×3SaaS ×3Marketing Tech ×2Biotech ×1Cleantech ×1Climate Tech ×1Consumer ×1

HQs:United States×7

Investments · 36 tracked

founders shown can be your intro path
EHangehang.comin𝕏NASDAQ: EH
Waterdrop Incwaterdrop-inc.comNYSE: WDH
Laiyelaiye.comin✓ verified

Laiye offers a Work Execution Platform that lets government and enterprise clients build LLM-driven digital workforces, combining RPA, conversational AI, and intelligent document processing to automate business processes.

AI & Machine LearningEnterprise SoftwareSaaS

Advanceadvance.aiin
Aibeeaibee.cn
Apollo.ioapollo.ioin𝕏

Apollo provides an AI-powered platform designed for go-to-market teams to improve sales and marketing productivity.

AI & Machine LearningEnterprise SoftwareMarketing TechSales TechSan Francisco, US

Tim Zheng(Founder/CEO)inRay Li(Founder)inMatt Curl(Chief Executive Officer)Marcio Arnecke(Chief Marketing Officer)Adam Carr(Chief Revenue Officer)Phil Moon(Chief Financial Officer)

Archonarchon.bio

Archon Biosciences develops a computational protein design platform leveraging AI and deep learning for therapeutic and vaccine applications.

AI & Machine LearningBiotechDeep TechSeattle, US

George Ueda, Ph.D.(Chief Technology Officer, Co-Founder)James Lazarovits, Ph.D.(Chief Executive Officer, Co-Founder)

Archonarchon.incin𝕏

Archon provides compliance services that accelerate the federal authorization process for software vendors selling to government agencies, reducing typical timelines and associated expenses.

CybersecurityGovTechSan Francisco, US

George Parks(Founder and CEO)in

Arx Xarx-x.com𝕏
Autoxautox.ai
Dandelion Energydandelionenergy.comin𝕏

Dandelion Energy designs and installs geothermal heating and cooling systems for homes, positioning geothermal as a primary heating and cooling solution for both new and existing residential buildings.

CleantechClimate TechEnergyHardwarePalo Alto, US

Kathy Hannun(Founder & CTO)inDan Yates(CEO)inRajeev James Quazi(Executive Officer, Director)Craig Shapiro(Director)

Flexivflexiv.comin
Gensparkgenspark.aiin𝕏
Habbyhabby.com
Heygenheygen.comin𝕏

HeyGen is an AI video generation and dubbing platform that allows users to create and localize videos by writing scripts and selecting AI-generated voices, eliminating the need for cameras, actors, and traditional production resources.

AI & Machine LearningMarketing TechMedia & EntertainmentSaaSLos Angeles, US

Joshua Xu

Horizonhorizon.auto
Itigeritiger.comin
Manusmanus.imin𝕏

Manus is an AI agent platform that automates complex workflows and business processes for teams without requiring additional headcount.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS

Momentamomenta.cn
Moonshotmoonshot.ai𝕏
Niuniu.comin𝕏
Nuronuro.aiin𝕏
Opaywebopayweb.comin𝕏
Opusopus.proin𝕏
Simpcaresimpcare.com
Smartmoresmartmore.comin
Typelesstypeless.comin𝕏
Uiseeuisee.com
Vidcodevidcode.comin𝕏

An online coding platform offering self-paced lessons and project-based courses for middle and high school students to learn web development and programming through hands-on creative applications like video filters and augmented reality.

EdTechSan Francisco, US

Alexandra Diracles(Founder/CEO)Melissa Halfon(Founder/CTO)in

Vipkidvipkid.com
Wujiwuji.tech
Yatsenglobalyatsenglobal.comin
Yoshi Mobilityyoshimobility.comin𝕏

Yoshi Mobility operates a platform that handles vehicle fueling and maintenance services, aiming to reduce total ownership costs by modernizing the infrastructure traditionally served by gas stations and repair shops.

ConsumerMobility & TransportationNashville, US

Bryan Frist(Founder/CEO)inNick Alexander(Founder)inDan Hunter(Founder)inEric R. Carmichael(Director)Sherwin Prior(Director)

Frequently asked questions

What stage does ZhenFund invest at?
ZhenFund invests at the Pre-Seed, Seed, Series A, Series B stages.
What is ZhenFund's typical check size?
ZhenFund typically writes checks of $425K – $28M.
What sectors does ZhenFund focus on?
ZhenFund focuses on AI & Machine Learning, Biotech, Consumer, Crypto & Web3, Deep Tech, E-commerce, EdTech, Energy, Enterprise Software, Fintech, Hardware, Mobility & Transportation, New Materials, Robotics, SaaS, Semiconductors.
Where is ZhenFund located?
ZhenFund is headquartered in Beijing, CN.
Does ZhenFund lead rounds?
ZhenFund typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

Episode 102: ZhenFund in China with Anna Fang - Analyse Asia with Bernard Leong

Analyse Asia · Anna Fang · youtube.com

Episode One - Anna Fang, Founder & CEO of ZhenFund

LTF Ventures · Anna Fang

Silicon Dragon Salon 2016, Hong Kong: Anna Fang Hamm - Partner & CEO at ZhenFund

BeFast.TV · Anna Fang

Co-investors · 17

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EHangNiuXiaohongshu (小红书)
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Andreessen Horowitz

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Craft Ventures

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$1M – $20M
Atomico

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Eniac Ventures

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$50K – $300K
Quiet Capital

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$100K – $25M
SOSV

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$30K – $550K
ACME Capital

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Partech Ventures

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$200K – $50M
SoftBank Vision Fund

SoftBank Vision Fund invests globally in AI-focused companies working to transform and create industries.

5 more co-investors

TSVCHOF CapitalPitangoShunwei CapitalPebblebed

Firms observed investing alongside ZhenFund, from public investor directories. Shared companies are the overlap with ZhenFund's recorded portfolio.

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