ATM Capital

What ATM Capital does

ATM Capital is a privately held venture capital firm founded in 2017, headquartered in Jakarta, Indonesia, with a regional office in Beijing. The firm describes itself as the first China-backed industrial investment fund devoted to Southeast Asia and global emerging markets, raising capital from institutional LPs including top-tier university endowments, fund-of-funds, family offices, and founders of publicly listed companies. ATM Capital's mission is to discover, support, and accompany Chinese entrepreneurs building global companies out of Southeast Asia and other emerging markets, targeting outcomes of USD 10+ billion in market capitalization.

The firm invests across three declared thematic areas: e-commerce and supporting infrastructure, consumer retail/consumer technology, and artificial intelligence/robotics. Its portfolio spans logistics (J&T Express on 1519.HK, YIMI Cargo, Kargo, Fastock), consumer brands (Y.O.U, MAKUKU, TOMORO COFFEE, Joyice, Hebe Beauty), fintech/InsurTech (Waterdrop on NYSE: WDH, Lifepal), and technology platforms (Tuya Smart on HKEX: 2391, Thin Red Line in AR). The firm has realized seven successful international IPOs and produced portfolio exits including J&T Express, which alone generated returns exceeding HK$5 billion.

ATM Capital generates revenue through fund management — primarily management fees on committed capital and performance carry from portfolio exits — rather than through selling products or services to end customers. The firm's go-to-market emphasizes thought leadership (a regular blog covering Chinese outbound globalization strategy), industry event participation (including CKGSB Economic Symposium and Forbes China forums), and direct outreach to founders via a dedicated business-proposals channel. Operational support to portfolio companies is delivered through the Jakarta-based team and partner network spanning Alibaba, Ant Group, Tencent, CDH, and Huawei alumni.

Name

ATM Capital

Legal name

ATM Capital

Website

https://atmcapital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

ATM Capital is a China-backed venture capital firm founded in 2017 and headquartered in Jakarta, Indonesia, investing in Chinese entrepreneurs building global companies out of Southeast Asia and emerging markets across e-commerce infrastructure, consumer brands, and AI/robotics.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259)

SIC

Finance Services (6199)

akta.pro primary industry

Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)

Keywords

• Venture capital fund
• Growth equity investing
• Emerging markets investment
• Chinese enterprise globalization
• Startup portfolio management

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Fund Management and Carry: ATM Capital generates returns through venture capital fund management, collecting management fees and performance carry from successful portfolio company exits. The fund invests in startups in Southeast Asia and emerging markets, targeting 7 successful exits including Hong Kong-listed, US-listed companies, unicorns, and pre-unicorns.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

ATM Capital is a China-backed industrial investment fund that provides growth capital, strategic guidance, and operational support to Chinese entrepreneurs building companies in Southeast Asia and other global emerging markets. The fund makes equity investments in startups and growth-stage companies across e-commerce infrastructure, consumer retail/consumer technology, and AI and robotics, targeting portfolio companies that can become USD 10+ billion market-cap enterprises.

Product overview

ATM Capital operates as a China-backed industrial investment fund focused on Southeast Asia and global emerging markets. Founded in 2017 with headquarters in Jakarta, Indonesia and offices in Beijing, the fund's investment portfolio spans multiple sectors including e-commerce infrastructure (J&T Express, YIMI Cargo, Kargo), consumer brands (Y.O.U, MAKUKU, TOMORO COFFEE, Joyice, Hebe Beauty), fintech (Waterdrop, Lifepal), and technology platforms (Tuya Smart). The fund has invested in one Hong Kong-listed company, two US-listed companies, two unicorns, and multiple pre-unicorn companies, targeting the next generation of USD 10+ billion market cap companies emerging from Southeast Asia.

Differentiator

Problem solved

Functional benefit

Products and services

• ATM Capital Investment Fund China-backed industrial investment fund that provides growth capital, strategic resources, and operational enablement to outstanding Chinese entrepreneurs building world-class companies from Southeast Asia and other emerging markets, targeting USD 10+ billion market capitalization outcomes.

Quantifiable outcome

• J&T Express investment generated returns exceeding HK$5 billion, one of the most successful exits in Chinese venture capital history

Named customers9 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CKGSB (Cheung Kong Graduate School of Business)minorStrategic or Co-development Partner · 22 June 2026ATM Capital participated as an executive speaker at CKGSB's 10th Economic Symposium in Beijing. The event brought together Fortune 500 company leadership, ministers, ambassadors, and executives to discuss China's economic outlook and trade relationships. ATM Capital's participation reflects their role as a thought leader in emerging market investment.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Hillhouse Capital: Asia-focused investment platform covering venture through buyout; comparable given its scale, consumer-and-tech orientation, and emerging-markets exposure.
• IDG Capital: One of the earliest China-focused VC platforms with a long history of cross-border investing; comparable as a long-tenured China-rooted fund with global aspirations.
• HongShan (formerly Sequoia China): One of China's largest VC platforms with global reach; comparable as a China-rooted fund investing in technology and consumer companies with cross-border ambitions.
• Warburg Pincus: Global growth investor with significant Southeast Asia allocation and a track record of category-leading investments in the region; comparable as a large-scale emerging-markets backer.
• GGV Capital: Multi-stage global venture firm with strong Asia presence; comparable in cross-border China-to-SEA investing theses and stage flexibility.
• ZhenFund: Early-stage China-US venture platform founded by Sequoia China alumni; comparable in seed/Series A orientation and cross-border China tech investing.

Emerging players

• Antler: Global early-stage VC with strong Southeast Asia presence and founder-support platform; comparable in deploying capital at very early stages across multiple emerging markets including SEA.

Direct peers

• Jungle Ventures: Singapore-headquartered VC firm investing across Southeast Asia in consumer, fintech and enterprise categories; comparable as a regional specialist with a similar portfolio construction approach.
• East Ventures: One of Southeast Asia's most prominent early-stage VC platforms with multi-country presence; directly comparable as a regionally-dedicated fund backing founders across Indonesia, Singapore and Vietnam.
• Openspace Ventures: SEA-focused VC with offices in Singapore, Jakarta and Bangkok; comparable given its regional-first mandate and active investment across consumer and digital infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ATM Capital