/Investor DB

ZhenFund

Venture capital

Beijing · Pre-Seed–Series B · 30 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 Sep 29, 2026.

Stage
Pre-Seed–Series B
Check
$250K – $3M
HQ
Beijing, CN
Leads rounds
Follows
Instruments
Equity
Founded
2011
Last 12 months
1 investment
Private fund assets
$2.5B
VC funds
21
Tracked investments
69
Unicorns
3
IPOs
2
Acquisitions
5

Team · 30 people

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

Founder mafia

2 people who came through ZhenFund went on to found or lead other companies.

What they invest in

from 58 of 69 portfolio companies

AI & Machine Learning ×25Enterprise Software ×17Consumer ×15SaaS ×13Hardware ×9Mobility & Transportation ×7E-commerce ×6Robotics ×6

HQs:United States×32China×11Hong Kong×1Philippines×1Singapore×1

Who they back

founder profiles across 12 portfolio companies
17%
solo founders
2 of 12 mapped founding teams
21%
repeat founders
of 14 founders with career history

Founding team size:solo founder×22 founders×63 founders×34+ founders×1

Where their founders studiedfrom 17 founders with education data

Zhejiang University ×3Harvard University ×2Huazhong University of Science and Technology ×2Stanford University ×2The Chinese University of Hong Kong ×2

What their founders studiedfrom 20 founders with field-of-study data

Computer Science ×9Engineering ×7Finance & Accounting ×2

Where their founders worked beforefrom 14 founders with career history

Bytedance ×2Google ×2LinkedIn ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×3

9 founders hold a PhD (of 20 with degree data)

Investments · 69 tracked

founders shown can be your intro path

By year:2026 · 12023 · 12022 · 42021 · 32019 · 12018 · 52017 · 116 dated

EHangehang.comin𝕏NASDAQ: EH

EHang develops and manufactures pilotless electric vertical take-off and landing (eVTOL) aircraft for uses such as aerial tourism, intra-city and intercity transport, logistics, and emergency firefighting.

Deep TechHardwareLogistics & Supply ChainMobility & Transportation

Hu Huazhi(Founder)in

Co-investorsGranite AsiaPreAngel FundLinear Capital

Waterdrop Incwaterdrop-inc.comNYSE: WDH

Insurance platform (NYSE: WDH)

Co-investorsATM CapitalBoyu CapitalGaorong Capital

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 SoftwareSaaSBeijing, CN

Yichuan Hu(Founder)in

Co-investorsCathay InnovationDCP CapitalLightspeed Venture PartnersSequoia CapitalWu CapitalActivant Capital+2 more

Teableteable.aiin𝕏✓ verified

Teable is an AI Database Agent that automates data workflows and connects databases to applications for teams and enterprises.

AI & Machine LearningCreator EconomyData & InfrastructureEnterprise SoftwareHardwareSaaS

Co-investorsBaidu VenturesVertex Ventures China

小满科技xiaoman.cn✓ verified

Xiaoman is an AI-powered foreign trade service platform that helps Chinese export merchants find new customers, identify business opportunities, and manage operations using artificial intelligence technology.

AI & Machine LearningE-commerceEnterprise SoftwareMarketing TechSaaSSales TechBeijing, CN

Co-investorsQiming Venture PartnersZero-One Capital01vcChina Growth Capital

51Talk51talk.phin

51Talk is a global online education platform specializing in English language instruction, connecting students with qualified teachers through live interactive lessons on mobile and web platforms.

EdTech

Co-investorsDCM VenturesShunwei Capital

Accutar Biotechaccutarbio.cominApr 2021

US biotech using AI-driven computational design plus wet-lab validation to discover small-molecule oncology drugs.

BiotechNew York, US

Jie Fan(Founder)inWei He(Executive Officer)Yimin Qian(Executive Officer)Xiangyan Sun(Executive Officer)Quan Zhou(Director)Long Zhu(Director)

Co-investors5Y CapitalCoatue ManagementIDG CapitalYF Capital

Advanceadvance.aiin

ADVANCE.AI provides digital identity verification, KYC/KYB, compliance, risk management, and credit information services to enterprise clients in banking, financial services, fintech, payments, crypto, retail, and e-commerce.

AI & Machine LearningCybersecurityFintechSingapore, SG

Dong Shou(Founder)in

Co-investorsGaorong CapitalWarburg PincusEndeavor CatalystGaorong Ventures

Aibeeaibee.cn

Aibee is a Chinese AI company founded in 2017 that digitizes and adds intelligence to physical spaces using computer vision, big data analytics, and robotics.

AI & Machine LearningEnterprise SoftwarePropTechRetail TechBeijing, CN

Co-investorsClearVue Partners

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)inMarcio Arnecke(Chief Marketing Officer)inAdam Carr(Chief Revenue Officer)inPhil Moon(Chief Financial Officer)in

Co-investorsA*Angel Collective Opportunity FundBain Capital VenturesJude GomilaNewView CapitalPathlight Ventures+16 more

Arx Xarx-x.com𝕏

ARX develops and sells robots, offering product lines such as LIFT, X7, R5, and X5 along with related service, support, and open-source resources.

HardwareRobotics

Bentocartbentocart.cominSeed

A meal delivery service that curates prepared meals from restaurants and food makers for busy professionals in the Bay Area, with customers ordering weekly and receiving reheated meals delivered to their door.

ConsumerDirect to ConsumerFoodTechLogistics & Supply ChainMarketplacesSan Francisco, US

Joseph Lai(Founder)inWenjing Yu(Founder)in

Co-investorsFJ LabsY CombinatorCathexis VenturesHH Investments Pte.Moontower VCPareto Holdings

Boom Fantasyboomfantasy.comin𝕏Jun 2018 · $4.5M

Boom Fantasy is a fantasy sports game where users predict whether a chosen player will finish above or below their statistical projection and win real money, with combined picks offering larger payouts.

ConsumerGamingSports Tech

Co-investors7BC Venture CapitalDorm RoomRanch VenturesStacked CapitalRubicon Venture Capital

CellXcellx.techSeed · Mar 2021 · $4M

CellX offers a self-service operations management platform that automates repetitive tasks such as 24/7 order intake, multi-channel order and message handling, order status tracking, and after-sales ticket workflows.

E-commerceEnterprise SoftwareSaaS

Ziliang Yang(Founder)in

Co-investorsBetter Bite VenturesAgronomicsLever VCSALT

Dandelion Energydandelionenergy.comin𝕏Feb 2019

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)inRajeev James Quazi(Executive Officer, Director)Dan Yates(CEO)in

BoardCraig Shapiro(Director)in

Co-investorsBoxGroupBreakthrough Energy VenturesCollaborative FundComcast VenturesCool Climate CollectiveEnergy Transition Ventures+4 more

Delonixdelonix.group

Delonix Group operates multiple hotel and experiential consumption brands across Asia-Pacific, leveraging AI and digital technology to drive member growth and innovation in hospitality.

ConsumerShenzhen, CN

郑南雁

Co-investorsINCE CapitalBoehringer Ingelheim Venture FundIDG Capital

Fantasy Sportsfantasysportsco.com𝕏Apr 2018

Maker of analytics and optimizer tools for daily fantasy sports players on platforms like DraftKings, FanDuel, and Yahoo, plus a horse racing handicapping app with live racing data and betting optimization.

ConsumerGamingSports TechCarlsbad, US

Thomas Peterson(Director)Rick Hernandez(Director)Peter Groset(Executive Officer, Director)Erik Groset(Executive Officer, Director)

Co-investorsAcies InvestmentsAndreessen HorowitzBlackRockThirty Five Ventures

Flexivflexiv.comin

Flexiv builds adaptive robots featuring force control, including the Rizon seven-axis robotic arm and Hesper robot controller.

Advanced ManufacturingAI & Machine LearningDeep TechEnergyHardwareRoboticsSilicon Valley, US

Shiquan Wang(Co-Founder and Chief Executive Officer)inXiyang Yeh(Co-Founder and Chief Technology Officer)in

Co-investorsGaorong CapitalGSR VenturesInvusLongwood FundPlug and Play VenturesYF Capital

Flirtey (SkyDrop)𝕏Seed

Flirtey operates a drone delivery network that transports goods directly to customers for last-mile logistics.

Advanced ManufacturingRoboticsBlountville, US

Matthew Sweeny(Founder/CEO)in

Co-investorsY CombinatorACE & CompanyAmasiaBessemer Venture PartnersCLI VenturesDHVC+13 more

FloydHubfloydhub.comin𝕏SeedDefunct

FloydHub provides cloud infrastructure for machine learning engineers to train and deploy deep learning models without managing underlying infrastructure.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US

Sai Prashanth Soundararaj(Founder/CEO)inNaren Thiagarajan(Founder)in

Co-investorsMission and MarketView DifferentY CombinatorAmino CapitalAvalon Ventures Management, LlcCRV (Charles River Ventures)+9 more

gartengarten.coin𝕏SeedAcquired

Garten provides healthy food, meditation, mindfulness and community wellness services for workplace environments.

AI & Machine LearningEnterprise SoftwareFoodTechFuture of WorkWellness & FitnessSan Francisco, US

Michael Heinrich(Founder/CEO)in

Co-investorsBackedBY Venture PartnersFifty YearsFundersClubMontage CapitalY Combinator+15 more

Genspark AIgenspark.aiin𝕏

Genspark turns plain-English questions into live dashboards by querying a user's data, selecting charts automatically, and sharing them via a link.

AI & Machine LearningData & InfrastructureSaaS

Eric Jing(Founder)Jiakai (Justin) Liu(Founder)Kay Zhu(Founder)Lenjoy Lin(Founder)ray zhong(Founder)

Co-investorsEmergence Capital PartnersLanchi VenturesLG Technology VenturesMARKHAM VALLEY VENTURESSozo Ventures

Guildedguilded.ggin𝕏Seedacquired by Roblox

A group communication platform for gaming communities that includes built-in calendars, discussion boards, and additional collaboration tools.

ConsumerGamingSan Francisco, US

Eli Brown(Founder & CEO)in

Co-investorsFundersClubY CombinatorFuel CapitalInitialized CapitalLiquid VenturesMatrix+4 more

Hannunhannun.cominMar 2018 · $4.5M

Hannun is an online furniture brand that sells sustainably designed furniture and home goods produced by European artisans, offering features like cashback rewards and installment payments.

ConsumerDirect to ConsumerE-commerce

Co-investorsShip2BBoxGroupCollaborative FundCrowdcubeNew Enterprise Associates (NEA)

HeyGenheygen.comin𝕏Nov 2022

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(Founder)inWayne Liang(Co-founder and Chief Innovation Officer)

BoardSarah Guo(Board member; founder of Conviction)in

Co-investorsConvictionBenchmarkThrive CapitalBond Capital ManagementDylan FieldElad Gil+3 more

Horizonhorizon.auto

Horizon Robotics develops full-stack software and hardware solutions for advanced driver assistance (ADAS) and autonomous driving, supplying pre-installed mass-production systems to automakers.

AI & Machine LearningHardwareMobility & TransportationSemiconductorsBeijing, CN

Co-investorsVertex Ventures ChinaGSR VenturesHongShan Capital GroupLinear Capital

Inferactinferact.ai𝕏Jan 2026 · $150M

Inferact develops inference infrastructure for large language models, building on the open-source vLLM engine to make model serving cheaper and faster.

AI & Machine LearningCloud ComputingDeveloper Tools

Roger Wang(Founding member)Woosuk Kwon(Founding member)inSimon Mo(Founding member)inKaichao You(Founding member)inJoseph Gonzalez(Founding member)Ion Stoica(Founding member)

Co-investorsAndreessen HorowitzLightspeed Venture PartnersRedpoint VenturesSequoia CapitalStriker Venture PartnersAltimeter Capital+1 more

Itigeritiger.comin

Tiger Brokers is a global online brokerage that lets clients trade equities, futures, options, and funds across U.S., Hong Kong, Singapore, and Australian markets through its Tiger Trade mobile app.

AI & Machine LearningFintechSaaS

jEugenejeugene.comDefunct

jEugene is a tool that identifies undefined terms and unused definitions within legal documents, enabling lawyers to address more substantive issues.

Enterprise SoftwareLegalTechNew York City, US

Harry Zhou(Founder)

Co-investorsY Combinator

Jumpcutjumpcut.comSeed

Jumpcut provides tools and services to help content creators achieve viral growth and establish revenue streams from their work.

EdTechLos Angeles, US

Kong Pham(Founder/CEO)inJesse Jhaj(Founder/Chief Content Officer)inPeter Lu(Founder/COO)in

Co-investors500 GlobalAtomicBase Venture Management, Inc.Imagine K12Outbound VenturesSoma Capital+8 more

Make Schoolmakeschool.comin𝕏Series ADefunct

Make School was a non-profit organization that provided education and career support to underrepresented students in computer science, offering a project-based Bachelor's degree program that resulted in high-earning tech career placements.

EdTechImpact & Social GoodSan Francisco, US

Ashutosh Desai(Founder)inJeremy Rossmann(Founder)

BoardRobert Hutter(Director)Tom Willerer(Director)

Co-investorsBisk VenturesImagine K12Kapor CapitalY Combinator500 GlobalAndreessen Horowitz+12 more

Manusmanus.imin𝕏Jan 2023

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

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS

Red Xiao(Founder)inTao Zhang(Founder)in

Co-investorsFactorial FundsVocal VenturesBenchmarkHongShan Capital Group

Meliora Therapeuticsmelioratherapeutics.cominSeed · Oct 2022 · $11M

Machine learning and data platform for understanding how diseases fight back and resist therapies

David Li(Founder)in

Co-investorsHAWKTAILJude GomilaValkyrieAxial VCBrightEdgeHOF Capital+3 more

Mindorimindori.comSeedDefunct

Mindori provides white-label voice search technology for e-commerce applications, enabling customers to find products through conversational queries and context-aware results.

E-commerceEnterprise SoftwareSan Francisco, US

Chris Lengerich(Founder/CEO)in

Co-investorsY CombinatorPear VC

MioTechmiotech.comin𝕏

MioTech provides ESG and carbon emissions data, digital solutions for corporate ESG, supply chain, portfolio and green finance management, and climate analytics, alongside sustainability and carbon advisory services.

Climate TechData & InfrastructureFintech

Jason Tu(Founder)in

Co-investorsB Capital GroupB4 CapitalHorizons VenturesJ.P. Morgan Asset ManagementReach Capital

Momentamomenta.cn

Momenta develops autonomous driving technology focused on improving road safety by reducing traffic accidents caused by speeding and collision risks.

AI & Machine LearningHardwareMobility & TransportationRoboticsBeijing, CN

Co-investorsJoy Capital

Moonshot AImoonshot.ai𝕏

Moonshot AI is an artificial intelligence research company developing artificial general intelligence (AGI) and the Kimi chat assistant, while sharing research with the open-source community.

AI & Machine LearningDeep Tech

Co-investorsEterna CapitalCathay InnovationGaorong CapitalHongShan Capital Group

Mosaix.aimosaix.aiSeedDefunct

Mosaix develops a voice AI platform for enterprises that handle languages spoken in emerging markets where such technology has limited availability.

ConsumerMobility & TransportationSan Francisco, US

Satori He(Founder)in

Co-investorsY CombinatorGMO VenturePartnersOriza HoldingsSparkland CapitalSpring Capital

Niuniu.comin𝕏

NIU designs and sells electric two-wheeled vehicles, including electric mopeds and motorcycles (50cc and 125cc equivalents), off-road bikes, and micromobility products such as electric kick scooters and e-bikes.

ConsumerHardwareIoTMobility & Transportation

Co-investorsGranite Asia

Nuronuro.aiin𝕏

Nuro develops the Nuro Driver, a Level 4 self-driving system combining automotive-grade hardware and AI software that can be integrated into personally owned vehicles and commercial fleets.

AI & Machine LearningMobility & TransportationRoboticsMountain View, US

Dave Ferguson(Co-Founder & Co-CEO (also referred to in press as Co-Founder & President))inJiajun Zhu(Co-Founder & Co-CEO)inAndrew Chapin(Chief Operating Officer)inMike Mancini(Chief Financial Officer)James Owens(Chief Legal & Policy Officer)Andrew Clare(Chief Technology Officer (as of September 2024))in

Co-investorsUberArc AngelsBaillie GiffordBasis Set VenturesBow CapitalConnetic Ventures+15 more

OPayopayweb.comin𝕏

OPay is a digital payment and financial services platform offering mobile wallet transfers, airtime and data top-ups, bill payments, a debit card, and interest-bearing savings for consumers.

ConsumerFintech

Co-investorsHongShan Capital GroupSoftBank Vision FundSource Code CapitalGaorong Ventures

OpusClipopus.proin𝕏

Opus.pro builds an AI-powered video creation and editing agent that automatically turns long-form video into short clips for social media.

AI & Machine LearningCreator EconomyMedia & EntertainmentSaaSSan Francisco, US

Grace Wang(Founder)inYoung Z.(Founder)in

Co-investorsAlumni VenturesBasecamp FundDCM VenturesFellowsMillennium New HorizonsMillennium Technology Value Partners+4 more

Pando Biosciencepando.bioinSeed

Pando develops enzyme design and optimization using machine learning to accelerate the design-build-test-learn cycle for biotechnology applications.

AI & Machine LearningBiotechHealthtechBoston, US

Will Cao(Founder)in

Co-investorsY CombinatorCapitalize VCMiracle PlusMosaic Ventures

Persephone Biosciencespersephone.bioinJul 2022

Persephone develops a synbiotic supplement for infants that combines probiotics (keystone Bifidobacterium strains) with prebiotics found in human breast milk to replenish gut bacteria linked to digestion, immunity, and development.

BiotechConsumerDigital HealthFemTechHealthtechSan Diego, US

Stephen Van Dien(Founder/CTO)inStephanie Culler(CEO & Co-Founder)in

Co-investorsFirst Bight VenturesPropel Bio PartnersBioBritFifty YearsHemi Ventures, LlcOcampo Capital+13 more

Raven Techraventech.cominAcquired

Raven Tech develops artificial intelligence and data processing systems, with a focus on next-generation operating system technology.

Data & InfrastructureEnterprise SoftwareBeijing, CN

Cheng Lu(Founder/CEO)

Co-investorsY CombinatorBAI capitalDCM VenturesMatrixMSA Capital

Redesign Scienceredesignscience.cominDec 2021 · $15M

Software platform to improve drug discovery

AI & Machine LearningBiotechDeep TechNew York, US

David William Rooklin(Executive Officer, Director)Haotian Li(Director)

Co-investorsCollaborative FundHAWKTAILNotation CapitalAcequia Capital (AceCap)Preface VenturesRefactor Capital+1 more

Spire Healthspirehealth.cominSeedAcquired

Spire Health provides continuous respiratory monitoring devices used by pulmonologists and patients to track lung disease.

HealthtechWellness & FitnessSan Francisco, US

Neema Moraveji(Founder/Chief Scientist)in

Co-investorsScrum VenturesY CombinatorCFJ InvestmentsDN CapitalGilde HealthcarePacific Health Ventures+2 more

Substacksubstack.com𝕏Seed

Substack is a publishing platform that allows writers to create newsletters, cultivate audiences, and earn revenue through reader subscriptions.

Enterprise SoftwareMarketing TechMarketplacesSan Francisco, US

Chris Best(Founder/CEO)inJairaj Sethi(Founder)inHamish McKenzie(Founder/COO)in

BoardAndrew Chen(Director)in

Co-investorsAndreessen HorowitzBond Capital ManagementConnetic VenturesFundersClubGarage CapitalGeneral Catalyst+15 more

Talkray (TiKL)talkray.comDefunct

TiKL is a mobile app that enables users to send voice messages and text to multiple contacts simultaneously using a push-to-talk interface similar to a walkie-talkie.

ConsumerSocialSan Francisco, US

Zafer Ahmed(Founder)

Co-investorsY CombinatorAndreessen HorowitzCeyuan VenturesGeneral CatalystLerer HippeauStart Capital+1 more

Thunkablethunkable.comin𝕏Seed · Jun 2018 · $3.3M

Thunkable provides a no-code mobile app development platform that allows users to build applications without programming expertise.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareMarketing TechSaaSSector AgnosticSan Francisco, US

Arun Saigal(Founder/CEO)inWeiHua Li(Founder/CTO)inWei

BoardAnsaf Kareem(Director)inAmit Patel(Director)in

Co-investorsJames Beshara FundLightspeed Venture PartnersOwl VenturesPJCSky9 CapitalY Combinator+8 more

TypeLesstypeless.comin𝕏

Typeless makes an AI voice dictation app that converts spoken words into polished text for messaging, writing, and working with AI tools.

AI & Machine LearningConsumerEnterprise SoftwareFuture of WorkPalo Alto, US

Milad Morgan(Founder)inInaz Novin(Founder)inHuang Song(Founder)in

Co-investorsY Combinator

Validerevalidere.comin𝕏Oct 2018

Validere provides data clarity and analytics into physical and environmental commodities in the energy supply chain.

Advanced ManufacturingClimate TechData & InfrastructureEnergyEnterprise SoftwareSaaSHouston, US

Nouman Ahmad(Founder/CEO)inIan Burgess(Co-Founder, President and CTO)inIan Burgess, Ph.D.(Co-Founder, President & Chief Technology Officer)Caelum Kamps(Chief Operating Officer (also reported as VP, Product & Services))inMatthew Goldsilver(VP, Finance)inJana Shelford(VP, Talent and Culture)in

Co-investorsBlackRockCathexis VenturesGreylock PartnersMoment Ventures, LlcNGIF CapitalPioneer+10 more

Vidcodevidcode.comJul 2017 · $1.5MAcquired

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)inMelissa Halfon(Founder/CTO)inLeandra Tejedor(Cofounder)Leandra T.(Founder)in

Co-investorsNYU Innovation Venture FundY CombinatorCherry VenturesCoVentureIntel CapitalPipeline Angels+2 more

Visbitvisbit.co

Streaming service for 360-degree virtual reality videos.

Co-investorsPresence CapitalSparkland CapitalAmino CapitalColopl VR Fund

ViZn Energy Systemsviznenergy.cominSep 2022

Vizn Energy manufactures the GS200, a modular zinc/iron flow battery energy storage system designed for long-duration and high-frequency power services.

CleantechEnergyHardwareColumbia Falls, US

Paul Siblerud(Executive Officer)inDel Allison(Executive Officer)inJeff Hider(Executive Officer, Director)inCraig Wilkins(Executive Officer, Director)inRon Van Dell(Executive Officer, Director)inKevin Waldher(Executive Officer)in

Co-investorsGaorong Capital

Yatsenglobalyatsenglobal.comin

Yatsen Global (NYSE:YSG), founded in 2016, is a China-based multi-brand beauty group offering color cosmetics, functional skincare, and premium skincare through brands such as Perfect Diary, Little Ondine, Pink Bear, DR.WU (mainland China), Galénic, and EVE LOM.

ConsumerDirect to ConsumerE-commerceGuangzhou, CN

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)in

BoardEric R. Carmichael(Director)Sherwin Prior(Director)

Co-investorsY CombinatorAAF Management Ltd.AltaIR CapitalExxonMobil VenturesLiquid VenturesSGH Capital+1 more

Zentailzentail.comin𝕏Seed

Zentail provides a platform for product information management, listing, pricing, inventory, and analytics—serving ecommerce sellers who need operational automation and efficiency.

E-commerceEnterprise SoftwareLogistics & Supply ChainRetail TechSaaSColumbia, US

Dan Sugarman(Founder/CEO)in

Co-investorsFundersClubY CombinatorAgrolimen VenturesAndreessen HorowitzCRCM VenturesGeneral Catalyst+4 more

思谋科技 (SmartMore)smartmore.comin

SmartMore Corporation develops products and solutions for smart manufacturing and digital innovation, helping manufacturers with Manufacturing Optimization and Automation (MOA) covering cost, efficiency, quality control, and ESG.

Advanced ManufacturingAI & Machine LearningRoboticsHong Kong, HK

Jiaya Jia(Founder)Ruiyu Li(Founder)inShu Liu(Founder)inXiaoyong SHEN(Founder)inJiangbo Lu(Founder)in

Co-investorsHongShan Capital Group

森亿智能 (Synyi)synyi.com

Synyi (Shanghai Synyi Intelligent Information Technology), founded in 2016, develops AI, large language models, and big-data technologies for healthcare, offering more than 20 AI medical solutions covering clinical diagnosis and quality control, hospital operations management, and clinical research.

AI & Machine LearningDigital HealthHealthtechShanghai, CN

Zhang Shaodian(Founder, Chairman & CEO)inMa Handong(Co-founder & Vice President)in

Co-investorsSequoia CapitalXiang He Capital

Other

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

AutoxFameGameHabbySimpcareUiseeVipkidWujiXiaohongshu (小红书)观夏 (To Summer)

Exits · 7

2 IPOs · 5 acquisitions · showing 3

EHangNASDAQ: EHWaterdrop IncNYSE: WDHGuildedacq. by Roblox

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has ZhenFund made?
ZhenFund has 69 tracked investments, 7 of which have exited, including 1 dated in the last 24 months.
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 $250K – $3M.
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.
Who does ZhenFund co-invest with?
ZhenFund most often shares deals with HongShan Capital Group, Granite Asia, SoftBank Vision Fund, among 71 tracked co-investors.

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

Andreessen Horowitz

Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.

$500K – $50M
SoftBank Vision Fund

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

Both backed · 3
Granite Asia

Granite Asia is an Asia-focused investment firm; this page is a republished Business Times news article featuring senior managing partner Jenny Lee discussing AI's impact on startup formation and investing trends in Asia.

Both backed · 3
EHangNiuXiaohongshu (小红书)
$5M – $25M
Craft Ventures

Craft Ventures is a venture capital firm run by a team of former founders, operators, and investors who partner closely with founders to help build and scale technology companies.

Both backed · 1
$50K – $50M
Uber

Uber is a technology company operating multisided platforms that connect consumers with ride services, transit, delivery of food and groceries, and freight shipping across more than 70 countries and 15,000+ cities.

Both backed · 1
Menlo Ventures

Menlo Ventures is an early-stage venture capital firm backing transformative technology companies, with a strong current emphasis on artificial intelligence across enterprise, healthcare, and consumer markets.

Both backed · 1
Flirtey (SkyDrop)
$1M – $20M
Partech Ventures

Partech is a global venture capital firm supporting founders across multiple continents and investment stages through dedicated teams and funds.

Both backed · 1
Flirtey (SkyDrop)
$200K – $50M
HOF Capital

HOF Capital is a New York-based venture capital firm investing in companies transforming foundational industries through advanced software and AI.

Both backed · 1
$500K – $10M
Shunwei Capital

Shunwei Capital is a venture capital firm focused on backing founders in high-tech industries, aiming to help entrepreneurs build world-leading enterprises with capital and operational experience.

Both backed · 1
Pebblebed

Pebblebed is a venture firm that backs technical founders solving technically rigorous problems, described as 'self-protecting ideas' that are simple to state but hard to execute.

Both backed · 1
$2M – $6M
Atomico

Atomico is an international venture capital firm that invests in growth-stage technology companies across multiple geographies. The firm focuses on scaling disruptive technology businesses globally.

Eniac Ventures

Eniac Ventures is an early-stage venture capital firm run by former startup operators that partners closely with founders from 0 to 1 to accelerate product-market fit.

$1.2M
▶5 more co-investors

Quiet CapitalSOSVACME CapitalTSVCPitango

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

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