How many investments has ZhenFund made?

ZhenFund has 46 tracked investments, 3 of which have exited.

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.

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 63 tracked co-investors.

ZhenFund

Venture capital

Beijing · Pre-Seed–Series B · 29 people tracked

Also known as ZHEN ADVISORS, LTD.

★ Follow + Add to CRM ⤳ Find an introduction

Find your way into ZhenFund

1,508 people in our graph share verified history with the ZhenFund team — schools, employers, funds. One of them is your warm intro.

Sridhar Ramaswamyunlockedknows Bob Xiaoping Xu · together at University of Cambridge (overlapped)

knows the team · via Greenspring Associates

×2knows the team · via University of Cambridge

×4knows the team · via Stanford University Graduate School of Business

knows the team · via Stenham, Group Finance

×3knows the team · via ACCA

✨ Fox Verdict

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.

Invests inAI & Machine Learning Biotech Consumer Crypto & Web3 Deep Tech E-commerce EdTech Energy Enterprise Software Fintech Hardware Mobility & Transportation New Materials Robotics SaaS Semiconductors Beijing China Grand Cayman

Source: firm website, verified Sep 15, 2026.

Stage

Pre-Seed–Series B

Check

$425K – $28M

Beijing, CN

Leads rounds

Follows

Instruments

Equity · Grants

Founded

2011

Private fund assets

$2.5B

VC funds

Tracked investments

Unicorns

IPOs

Acquisitions

Team · 29 people

from the firm's website & curated & public directories

Bob Xiaoping Xu· Founder· Chaoyang District, Beijing, Chinain

Co-founder of ZhenFund and a pioneer of angel investing in China. He previously co-founded New Oriental, the English tutoring school that listed on the NYSE, and started ZhenFund in 2011 to back early-stage founders.

Victor Qiang Wang· Co-Founder

Co-founder of ZhenFund alongside Bob Xu. He co-founded the New Oriental English tutoring school and studied English linguistics at Peking University and computer science at SUNY.

Xiaoping (Bob) Xu· Founder· Chinain

Xiaoping (Bob) Xu is the founder of ZhenFund, an angel investment fund in China focused on the TMT industry, operating in collaboration with Sequoia Capital China. He previously co-founded New Oriental Education & Technology Group, a major provider of private education in China listed on the New York Stock Exchange. Xu has worked in education and angel investment for over two decades.

Anna Fang· Partner· Chinain 𝕏

Anna Fang built a top-performing seed portfolio by backing many of China's most valuable tech startups at true seed stage, offering founder-centric, long-term support and partnering with entrepreneurs across companies.

a•••@zhenfund.comreveal

Emma Yin· Partner

Joined ZhenFund as an intern in 2014 and became the youngest partner in the firm's history. Her portfolio spans AI and robotics, including Hesai, HeyGen, Flexiv, Opus Clip, and AutoX.

Yuan Liu· Managing Partner· Chaoyang District, Beijing, Chinain

Born in Wuhan and studied accounting at Washington and Lee University. He worked at Greenspring Associates before joining ZhenFund in 2014, writing first checks to companies including Manus, Momenta, and Castbox.

Nilkant Patel· Managing Partner· London, England, United Kingdomin

Nilkant Patel is an ACCA qualified accountant serving as Financial Controller at Beringea. He previously spent eight years at Stenham, an alternative investment manager with fund of hedge funds and property fund businesses, and six years at Pepper Group, a loan servicer and lender. His experience covers financial management, budgeting, reporting, and systems optimisation within the financial services sector.

Fangzhou Yao· Managing Director· Shanghai

A Peking University graduate from Wenzhou who focuses on frontier technology, backing companies such as MetaX, Yahaha, and AI Rudder. His philosophy emphasizes character over capability.

f•••@zhenfund.comreveal

Tianjie Zhong· Principal· Shanghaiin

Raised in Shanghai and formerly a product manager at RED (Xiaohongshu). He joined ZhenFund in 2018 and focuses on early-stage AI and enterprise services, backing companies like Daxo Robotics and CoEvolution.

j•••@zhenfund.comreveal

Tianyi Qin· Managing Director

Joined ZhenFund from Tencent, where he was a product manager. He invests in cutting-edge and globally minded companies such as OPay, Habby, and Dreo.

t•••@zhenfund.comreveal

Tina Kuang· Principal· Beijing, Beijing, Chinain

From Chengdu, she studied at Georgetown, the University of Hong Kong, and LSE. She joined ZhenFund about nine years ago and has backed companies including Jojo Learning, DeepVerse, and Duobaoyu Insurance.

t•••@zhenfund.comreveal

Teodora Petkova· Principal· Greater London, England, United Kingdomin

Teodora Petkova is Marketing Manager at Beringea, a transatlantic venture capital firm with offices in the UK and US that also manages the ProVen VCTs and the ProVen Estate Planning Service. In her role, she supports marketing and communications initiatives related to the firm's investment activity, fundraising, and investor relations across the Beringea and ProVen brands. She holds a degree in Finance and Investment Banking from the University of Greenwich.

Koji Yang· Venture Partner

A serial founder who co-founded Jiepang, The Fair, and Just Chill. He founded the Crossing podcast and launched the AI Hacker House, connecting AI founders.

Dan Zhu· CEO Assistant & Admin Director

Serves as CEO Assistant and Admin Director. Previously she was a senior secretary to a partner at Strategy& in Greater China.

De Li· Director

Dr. Li De holds a PhD in Literature and serves on the board handling post-investment management. He was previously a senior financial journalist and producer at China Central Television.

Debbie Wang· Vice President

A Tsinghua University graduate who joined ZhenFund as an intern. She specializes in semiconductors, AI, renewables, and robotics, with a focus on deep-tech companies led by Tsinghua alumni.

d•••@zhenfund.comreveal

Fang Dong· Board Secretary

One of ZhenFund's founding members, she serves as Board Secretary supporting board directors and coordinating administrative activities. She graduated from Beijing Normal University in 2007.

Guantong Liu· Financial Controller

Joined ZhenFund in 2015 after working on PwC's Financial Services team on auditing, M&A, and IPO work across various industries.

Haonan Yu· Investment Manager

A Qingdao native with bachelor's and master's degrees from Fudan University. He focuses on innovations improving mobility and robotics that serve people.

n•••@zhenfund.comreveal

Jingyi Liu· Investment Operations Managing Director· United Statesin

From Hunan, she studied economics at Cambridge and UCL and journalism at Columbia. She leads the investment operations team using quantitative and qualitative analysis combined with AI.

j•••@zhenfund.comreveal

Rui Gong· COO

A Peking University Law School graduate who joined Sequoia Capital in 2010 before moving to ZhenFund, handling legal, compliance, and fund operations.

Weiqi Wang· Senior Compliance Manager

Born in Hebei with a master's from Minzu University of China in constitutional and administrative law. She joined ZhenFund in 2014 and works in the legal department on compliance.

Xiaoyi Zhao· General Counsel· Beijing, Chinain

Holds law degrees from China University of Political Science and Law, Peking University, and NYU. She worked at Jingtian & Gongcheng and Hogan Lovells before joining ZhenFund at the end of 2016.

Xuecheng Cao· Chief Finance Officer

Graduated from Renmin University's School of Finance and spent a decade at PwC and KPMG. He is a CICPA and CTA who joined ZhenFund in 2016.

Yiner Pan· Assistant Financial Controller

A Zhejiang University graduate and Chinese CPA and CTA who worked at KPMG China before joining ZhenFund in early 2017, focusing on finance and taxation.

Yishan Cheng· IR Managing Director· Fuzhou, Fujianin

From Fuzhou, she was drawn to venture capital after working in Dublin organizing international events. She joined ZhenFund in 2014 and oversees fundraising and investor relations.

Yusen Dai· Managing Partner· Chaoyang District, Beijing, Chinain

A former entrepreneur who founded the NYSE-listed e-commerce company Jumei before joining ZhenFund in 2017. He focuses on AI, backing companies such as Moonshot AI, Genspark, and Orienspace.

Zhiliang He· Vice President· Chaoyang District, Beijing, Chinain

Known as Ray, he grew up in Wenzhou and studied civil engineering at Tongji and graduate studies at Tsinghua. He joined ZhenFund as an intern in 2022, returned in 2023, and focuses on early-stage AI hardware and software.

r•••@zhenfund.comreveal

Olivia Wang· Vice President, Head of U.S.

Founder mafia

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

Lei XuZhenResidence EIR ProgramFounded Workstream Technologies, Inc. +2 Xiankun WuFull-time gap year InternFounded rct AI

What they invest in

from 35 of 46 portfolio companies

AI & Machine Learning ×20SaaS ×10Enterprise Software ×9Hardware ×9Consumer ×8Mobility & Transportation ×6Robotics ×5Data & Infrastructure ×4

HQs:United States×14China×10Hong Kong×1Singapore×1

Who they back

founder profiles across 12 portfolio companies

25%

solo founders

3 of 12 mapped founding teams

39%

repeat founders

of 18 founders with career history

Founding team size:solo founder×32 founders×63 founders×24+ founders×1

Where their founders studiedfrom 19 founders with education data

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

What their founders studiedfrom 19 founders with field-of-study data

Computer Science ×9Engineering ×6Finance & Accounting ×2

Where their founders worked beforefrom 18 founders with career history

Tencent ×3ByteDance ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

Investments · 46 tracked

founders shown can be your intro path

By year:2022 · 3 2021 · 2 2019 · 1 2018 · 17 dated

EHangehang.com in 𝕏NASDAQ: 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 Asia PreAngel Fund Linear Capital

Waterdrop Incwaterdrop-inc.comNYSE: WDH

Insurance platform (NYSE: WDH)

Co-investorsATM Capital Boyu Capital Gaorong Capital

Laiyelaiye.com in✓ 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 Innovation DCP Capital Lightspeed Venture Partners Sequoia Capital Wu Capital Activant Capital +1 more

Teableteable.ai in 𝕏✓ 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 Ventures Vertex 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 Partners Zero-One Capital 01vc China Growth Capital

Advanceadvance.ai in

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 Capital Warburg Pincus Endeavor Catalyst

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.io in 𝕏

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)in Marcio Arnecke(Chief Marketing Officer)in Adam Carr(Chief Revenue Officer)inPhil Moon(Chief Financial Officer)in

Co-investorsA*Angel Collective Opportunity Fund Bain Capital Ventures NewView Capital Pathlight Ventures Sand Hill Angels +9 more

Arx Xarx-x.com 𝕏

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

Boom Fantasyboomfantasy.com in 𝕏

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 Capital Dorm Room Ranch Ventures Stacked Capital Rubicon 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 Ventures Agronomics Lever VC SALT

Dandelion Energydandelionenergy.com in 𝕏Feb 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

Board Craig Shapiro(Director)in

Co-investorsBreakthrough Energy Ventures Collaborative Fund Comcast Ventures Cool Climate Collective Energy Transition Ventures Ground Up 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 Capital Boehringer Ingelheim Venture Fund IDG Capital

Fantasy Sportsfantasysportsco.com 𝕏Apr 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 Investments Andreessen Horowitz BlackRock Thirty Five Ventures

Flexivflexiv.com in

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)in Xiyang Yeh(Co-Founder and Chief Technology Officer)in

Co-investorsPlug and Play Ventures

Genspark AIgenspark.ai in 𝕏

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-investorsLanchi Ventures LG Technology Ventures MARKHAM VALLEY VENTURES Sozo Ventures

HeyGenheygen.com in 𝕏Nov 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(Co-founder & CEO)inWayne Liang(Co-founder and Chief Innovation Officer)Joshua X.(Founder)in

Board Sarah Guo(Board member; founder of Conviction)in

Co-investorsConviction Benchmark Thrive Capital BOND Dylan Field Elad Gil +2 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 China Linear Capital

Itigeritiger.com in

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

Manusmanus.im in 𝕏

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 Funds Vocal Ventures Benchmark

Meliora Therapeuticsmelioratherapeutics.com inSeed · Oct 2022 · $11M

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

David Li(Founder)in

Co-investorsHAWKTAIL Valkyrie Axial VC HOF Capital Obvious Ventures Pebblebed +1 more

MioTechmiotech.com in 𝕏

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 Group B4 Capital Horizons Ventures J.P. Morgan Asset Management

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.ai 𝕏

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 Capital Gaorong Capital

Niuniu.com in 𝕏

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.ai in 𝕏

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-investorsUber Arc Angels Baillie Gifford Basis Set Ventures Bow Capital Connetic Ventures +13 more

OPayopayweb.com in 𝕏

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 Group SoftBank Vision Fund Source Code Capital

OpusClipopus.pro in 𝕏

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 Ventures Basecamp Fund DCM Ventures Millennium New Horizons Millennium Technology Value Partners Samsung Next +1 more

Redesign Scienceredesignscience.com inDec 2021 · $15M

Software platform to improve drug discovery

AI & Machine LearningBiotechDeep TechNew York, US

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

Co-investorsHAWKTAIL Notation Capital Acequia Capital (AceCap)Collaborative Fund Preface Ventures Refactor Capital +1 more

TypeLesstypeless.com in 𝕏

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.com in 𝕏

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))in Matthew Goldsilver(VP, Finance)in Jana Shelford(VP, Talent and Culture)in

Co-investorsBlackRock Cathexis Ventures Greylock Partners Moment Ventures, Llc NGIF Capital Wing +1 more

Vidcodevidcode.comAcquired

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)inLeandra T.(Founder)in

Co-investorsNYU Innovation Venture Fund Y Combinator Cherry Ventures Rethink Capital Partners Rethink Education

Visbitvisbit.co

Streaming service for 360-degree virtual reality videos.

Co-investorsPresence Capital Sparkland Capital Amino Capital Colopl VR Fund

ViZn Energy Systemsviznenergy.com inSep 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)Jeff Hider(Executive Officer, Director)Craig Wilkins(Executive Officer, Director)inRon Van Dell(Executive Officer, Director)Kevin Waldher(Executive Officer)

Co-investorsGaorong Capital

Yatsenglobalyatsenglobal.com in

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.com in 𝕏

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 Combinator

思谋科技 (SmartMore)smartmore.com in

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)in Shu Liu(Founder)inXiaoyong SHEN(Founder)in Jiangbo 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)in Ma Handong(Co-founder & Vice President)in

Co-investorsSequoia Capital Xiang He Capital

Other

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

AutoxHabbySimpcareUiseeVipkidWujiXiaohongshu (小红书)观夏 (To Summer)

Exits · 3

2 IPOs · 1 acquisitions · showing 2

EHangNASDAQ: EHWaterdrop IncNYSE: WDH

Portfolio news

latest coverage across their companies

Manus seeks $4B valuation in new $500M fundraise as it resumes independent ops

Manus · techcrunch.com · Sep 18, 2026

PBOC warns of 'Niu' stock frenzy as even 'The Odyssey' gets a bull-themed remake

Niu · thestandard.com.hk · Aug 19, 2026

Anthropic's Claude Opus 5 leads AI rankings, raises $65B in Series H funding

OpusClip · cryptobriefing.com · Aug 17, 2026

Horizon Industrial Parks raises ₹1,168 crore from anchor investors ahead of IPO

Horizon · realty.economictimes.indiatimes.com · Aug 16, 2026

EHang (EH) investor Axim Planning & Wealth discloses 5.3% ownership stake in 13G/A

EHang · stocktitan.net · Aug 14, 2026

Remedium Bio Raises Initial Series A Funding to Advance Protein Therapeutics Platform | citybiz

Advance · citybiz.co · Aug 10, 2026

Uber, Nuro, and Lucid to Bring Robotaxi Service to Houston in 2027

Nuro · Nuro (company blog/press) · Jun 17, 2026

Flexiv Closes Funding

Flexiv · finsmes.com · Mar 19, 2026

Frequently asked questions

How many investments has ZhenFund made?: ZhenFund has 46 tracked investments, 3 of which have exited.
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.
Who does ZhenFund co-invest with?: ZhenFund most often shares deals with HongShan Capital Group, Granite Asia, SoftBank Vision Fund, among 63 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

SoftBank Vision Fund

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

Both backed · 3

Nuro OPay OpusClip

Granite Asia

Granite Asia is a multi-asset investment platform focused on Asia, providing bespoke financing structures and comprehensive investment solutions across multiple asset classes and strategies to support company growth.

Both backed · 3

EHang NiuXiaohongshu (小红书)

$5M – $25M

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.

Both backed · 1

Fantasy Sports

$500K – $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

Nuro

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

Meliora Therapeutics

$25K – $15M

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

Meliora Therapeutics

$2M – $6M

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.

$50K – $50M

Menlo Ventures

Menlo Ventures is a venture capital firm that invests in transformative, early-stage AI companies across every layer of the modern AI stack, from applications and middleware to data infrastructure and foundation models.

$1M – $20M

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 partners with early-stage founders, backing companies from 0 to 1.

$1.2M

Quiet Capital

Quiet Capital is an early-stage venture firm run by builders who back founders from day zero.

$100K – $25M

SOSV

SOSV is a deep tech venture capital firm that makes first-check pre-seed investments and follow-on rounds in startups focused on human and planetary health, providing lab space and hands-on support at its US locations.

$30K – $550K

▶5 more co-investors

ACME Capital Partech Ventures TSVC Pitango Shunwei Capital

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

Similar investors

Everywhere Ventures

Everywhere Ventures is an early-stage venture firm, backed by a community of founders and operators as LPs, that writes early checks (including pre-seed) into startups across many sectors and geographies.

$250K

SBI Investment Korea Co. Ltd.

SBI Investment Korea is a Korean asset management firm within the SBI Group that operates venture capital and private equity funds, positioning itself as a 'New Industry Creator'.

$2.5M – $33M

Alibaba Entrepreneurs Fund

The Alibaba Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group that provides investment capital and strategic guidance to entrepreneurs and young people, focusing on Hong Kong and Taiwan-nexus startups.