ZhenFund
Venture capitalBeijing · Pre-Seed–Series B · 27 people tracked
Also known as ZHEN ADVISORS, LTD.
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 25, 2026.
Team · 27 people
from the firm's website & public directories
What they invest in
from 30 of 39 portfolio companiesAI & Machine Learning ×17Consumer ×6Mobility & Transportation ×6SaaS ×6Enterprise Software ×5Robotics ×5Fintech ×4Hardware ×4
HQs:United States×11China×7Hong Kong×1
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×22 founders×53 founders×14+ founders×2
Accelerator rootsportfolio companies that came through a program
Investments · 39 tracked
founders shown can be your intro pathBy year:2026 · 22022 · 12019 · 14 dated
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
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)
Co-investorsCathay InnovationDCP CapitalLightspeed Venture PartnersSequoia CapitalWu CapitalActivant Capital
ADVANCE.AI provides AI-powered identity verification and onboarding solutions, including eKYC, document verification, face authentication, and KYC/AML compliance workflows.
AI & Machine LearningCybersecurityFintech
Co-investorsEndeavor Catalyst
Aibee is an artificial intelligence company that develops AI technologies for vertical industries.
AI & Machine LearningEnterprise Software
Co-investorsClearVue Partners
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)
Co-investorsA*Angel Collective Opportunity FundBain Capital VenturesNewView CapitalPathlight VenturesStruck Capital+8 more
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)James Lazarovits(Founder)inGeorge Ueda(Founder)in
Co-investorsCornucopian Capital ManagementMadrona Venture GroupGaorong CapitalGaorong VenturesGobi PartnersIDG Capital+1 more
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
Co-investorsY CombinatorGaorong CapitalGaorong VenturesGobi PartnersIDG CapitalRebel Fund
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
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-investorsBreakthrough Energy VenturesCollaborative FundComcast VenturesCool Climate CollectiveEnergy Transition VenturesGround Up Ventures+4 more
Flexiv develops adaptive industrial robots that combine force control with AI, enabling the robots to sense their environment and automate tasks with human-like dexterity.
Advanced ManufacturingAI & Machine LearningEnergyRoboticsSilicon Valley, US
Shiquan Wang(Co-Founder and Chief Executive Officer)Xiyang Yeh(Co-Founder and Chief Technology Officer)in
Co-investorsPlug and Play Ventures
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 VenturesLG Technology VenturesMARKHAM VALLEY VENTURESSozo Ventures
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)inJoshua X(Founder)
BoardSarah Guo(Board member; founder of Conviction)
Co-investorsConvictionBenchmarkThrive CapitalBONDDylan FieldElad Gil+2 more
Horizon Robotics develops software-hardware integrated smart driving technology for passenger vehicles, including its Journey automotive computing chips and the Horizon SuperDrive (HSD) end-to-end urban assisted driving system.
AI & Machine LearningMobility & TransportationSemiconductors
Co-investorsVertex Ventures ChinaLinear Capital
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 VenturesBenchmark
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 Management
Momenta develops autonomous driving software based on a data flywheel and World Model approach, offering mass-production assisted driving systems (L2 to L2++) adaptable across vehicle models as well as scalable autonomous solutions for Robotaxi, Robovan, and Robotruck.
AI & Machine LearningMobility & TransportationRobotics
Co-investorsJoy Capital
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-investorsGaorong Capital
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
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)Mike Mancini(Chief Financial Officer)James Owens(Chief Legal & Policy Officer)Andrew Clare(Chief Technology Officer (as of September 2024))
Co-investorsUberArc AngelsBaillie GiffordBow CapitalConnetic VenturesDisney Accelerator+13 more
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 Capital
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 VenturesMillennium New HorizonsMillennium Technology Value PartnersSamsung Next+1 more
Co-investorsBosch VenturesHongtai Capital HoldingsRobert Bosch Venture Capital
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)Ian Burgess, Ph.D.(Co-Founder, President & Chief Technology Officer)Caelum Kamps(Chief Operating Officer (also reported as VP, Product & Services))Matthew Goldsilver(VP, Finance)Jana Shelford(VP, Talent and Culture)
Co-investorsBlackRockCathexis VenturesGreylock PartnersMoment Ventures, LlcNGIF CapitalWing+1 more
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 FundY CombinatorCherry VenturesRethink Capital PartnersRethink Education
Co-investorsGranite AsiaGSR VenturesHongShan Capital GroupQiming Venture Partners
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 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
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)Shu Liu(Founder)inXiaoyong SHEN(Founder)Jiangbo Lu(Founder)in
Co-investorsHongShan Capital Group
Synyi builds AI and large language model tools for hospitals and clinics, including AI-assisted diagnosis and consultation, clinical decision support and quality control, hospital operations management (using DRG/DIP and performance metrics), and clinical research platforms.
AI & Machine LearningDigital HealthHealthtech
Co-investorsXiang He Capital
Co-investorsHongShan Capital Group
Exits · 2
IPOs and acquisitions across the tracked portfolioEHangNASDAQ: EHWaterdrop IncNYSE: WDH
Portfolio news
latest coverage across their companies
Niu · thestandard.com.hk · Aug 19, 2026
OpusClip · cryptobriefing.com · Aug 17, 2026
Horizon · realty.economictimes.indiatimes.com · Aug 16, 2026
EHang · stocktitan.net · Aug 14, 2026
Advance · citybiz.co · Aug 10, 2026
Archon · autonews.gasgoo.com · Jun 29, 2026
Archon · autonews.gasgoo.com · Jun 29, 2026
Nuro · Nuro (company blog/press) · Jun 17, 2026
Frequently asked questions
- How many investments has ZhenFund made?
- ZhenFund has 31 tracked investments.
- 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 59 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 invests globally in AI-focused companies working to transform and create industries.
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.
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.
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.
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.
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 partners with early-stage founders, backing companies from 0 to 1.
Quiet Capital is an early-stage venture firm run by builders who back founders from day zero.
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.
ACME Capital is a venture firm that backs deep-tech founders combining technical ambition with decisive execution, supporting companies through every phase of growth.
Partech is a global investment firm that backs founders across multiple continents and at every stage through dedicated teams and funds.
▶5 more co-investors
Firms observed investing alongside ZhenFund, from public investor directories. Shared companies are the overlap with ZhenFund's recorded portfolio.
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