Innoangel Fund

What Innoangel Fund does

Innoangel Fund is a Beijing-headquartered Chinese venture and angel investment firm founded in April 2013, with additional offices in Shanghai, Shenzhen, and Chengdu covering the Yangtze River Delta, Pearl River Delta, and Central/Western China, plus overseas reach. It operates two sub-fund vehicles — the Innoangel Angel Fund (est. 2013, angel/Pre-A, managed by Zhu Xiaocheng) and InnoTech Fund (first vintage closed end-2019, growth-stage, managed by Zhou Quan) — and reports assets under management in the tens of billions of RMB across 500+ portfolio companies spanning next-generation IT, new energy and new materials, advanced manufacturing, and biotechnology. Founding partner Li Zhu and a Tsinghua-anchored senior team operate with 51-100 employees.

The firm's core internal platform is a digital investment management system that covers the full pre-, during-, and post-investment lifecycle and includes an AI assistant, AI-driven financial report analysis with early warning, and AI-tracked industry dynamics. This system, together with a nine-module post-investment service offering and a strategic relationship with the Shuimu Tsinghua Alumni Seed Fund, supports deal sourcing, screening, and portfolio management across regional and cross-border opportunities, including a June 2026 strategic partnership with HKUST.

Innoangel Fund earns revenue primarily from a traditional VC economics stack: 1-2% annual management fees on committed/invested AUM plus 20% carried interest above a hurdle, with the sub-fund structure separating angel-stage deployment from growth-stage capital. LPs are undisclosed but the firm has been recognized in industry rankings including China Top 10 early-stage investor (Tsinghua rankings), 36Kr Most LP-recognized investor, and Touzhong Best early-stage VC.

Name

Innoangel Fund

Legal name

英诺基金

Website

http://www.innoangel.com/

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

Innoangel Fund is a Beijing-based Chinese venture and angel investment firm founded in 2013, operating two sub-funds across angel and growth stages with tens of billions of RMB in AUM and 500+ portfolio companies in IT, energy, advanced manufacturing, and biotech.

Ownership category

akta.pro rank

Product category

Early-Stage Venture Capital Investment Services

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

Keywords

• Early-stage venture capital
• Angel investing
• Technology investment funds
• Post-investment services
• Startup equity financing

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Management Fees: VC/early-stage investment fund management收取管理费，通常为基金管理规模的1-2%
2. Carried Interest (Carry): Performance fees from successful exits, typically 20% of profits above the hurdle rate

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Innoangel Fund is an early-stage technology investment firm founded in April 2013 that manages billions of RMB in assets across two sub-funds (InnoTech Fund and InnoAngel Angel Fund). It invests in angel, Pre-A, and Series A rounds of technology startups in next-generation IT, new energy/materials, advanced manufacturing, and biotech sectors, and provides a nine-module post-investment service platform covering policy subsidies, brand communications, HR support, IP services, legal services, finance/tax, industry connections, and training. It operates a proprietary digital investment management system that supports the entire investment lifecycle.

Product overview

Innoangel Fund operates as an early-stage technology investment platform with two sub-brands: InnoTech Fund (英诺科创基金) focusing on new generation information technology and intelligent manufacturing, and Innoangel Fund (英诺天使基金) focused on new IT, new energy/materials, advanced manufacturing, and biotech. The core product is the proprietary Digital Investment Management System (数字化投资管理系统), which serves as an internal platform supporting the fund's investment operations across pre-investment, mid-investment, and post-investment phases. The fund also provides nine-module post-investment services including policy subsidies, brand communication, HR support, IP services, legal services, financial/tax services, industry connections, and training/community programs, delivered through their Inno Innovation Academy and accelerator camps.

Differentiator

Problem solved

Functional benefit

Brands

• 英诺天使基金 (Innoangel Angel Fund): Early-stage sub-fund focused on angel and Pre-A investments in new IT, new energy/materials, advanced manufacturing, and biotech, managed by partner Zhu Xiaocheng. Features a '111 fast decision' mechanism for projects under RMB 10M valuation.
• 英诺科创基金 (InnoTech Fund)

Products and services

• InnoAngel Angel Fund (英诺天使基金) Early-stage angel and Pre-A equity investment sub-fund for technology startups in new-generation IT, new energy/materials, advanced manufacturing, and biotech. Managed by partner Zhu Xiaocheng, featuring a '111 fast decision' mechanism for projects under RMB 10M valuation. For startup founders and ecosystem partners.
• InnoTech Fund (英诺科创基金) Growth-oriented sub-fund under the Innoangel umbrella focused on next-generation IT and smart manufacturing, operating a 'big angel, small A-round' strategy (70% early-stage, 30% growth-stage capital allocation). Managed by partner Zhou Quan. For technology companies in those verticals seeking A-round or growth capital.
• Inno Digital Investment Management System (英诺数字化投资管理系统) Proprietary digital investment management platform covering the full lifecycle of 'pre-investment, mid-investment, post-investment', helping investment institutions efficiently manage project lifecycles. Features standardized project discovery, due diligence, project establishment, investment agreement signing, real-time tracking via weekly reports, equity/financing/exit records, post-investment management, financial and business reporting, exit approval, AI-powered financial report analysis and early warning, industry dynamics AI tracking, and multi-dimensional data visualization with hierarchical permission management. Used internally by the firm's investment team and reportedly based on 10+ years of data accumulation across 1,000+ institutional-level assets.
• Nine-Module Post-Investment Service Platform (投后九大服务体系) Comprehensive post-investment service offering for portfolio companies organized into nine modules: policy subsidies (补贴政策、资质申报、专项补贴、大赛、人才政策), brand communications (brand building, media coordination, product launches), HR support (talent incentives, senior recruiting, campus and lateral hiring), intellectual property (trademark, copyright, patent applications and ownership, trade secret protection), legal services (equity structure, data compliance, labor relations), finance and tax services (tax consulting, tax planning, qualifications), industry connections (large enterprise resource matching, scenario matching), and training/community (Inno Innovation Academy, accelerator camps, Inno project ecosystem). Delivered through the post-investment team led by Liu Huaiyu.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• HKUSTminorStrategic or Co-development Partner · 2 June 2026InnoAngel signed strategic partnership agreement with HKUST during Unicorn Day event, which brought together over 1,800 participants including students, faculty, government officials, industry partners, and investors.
• Water Tsinghua Alumni Seed FundcoreStrategic or Co-development PartnerTsinghua Alumni Seed Fund is a key ecosystem partner providing co-investment and deal flow for early-stage technology companies. Both organizations share Tsinghua alumni network and collaborative investment approach.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• ZhenFund: One of China's most prominent angel/early-stage VCs, founded in 2011, focused on Chinese technology startups with similar angel-to-Series A strategy and broad portfolio of 1,000+ companies. Closest comparable peer given stage focus and Chinese market concentration.
• Plum Ventures: Chinese early-stage VC founded in 2014 by Wu Shichun, focused on angel and Pre-A investments in technology and consumer startups across China. Directly comparable stage focus, geographic coverage, and target entrepreneur segment.
• Sinovation Ventures: Founded by Kai-Fu Lee in 2009, one of China's leading early-to-growth technology VCs with deep AI/semiconductor focus. Comparable dual-stage model, similar technology sector concentration, and similar use of proprietary digital tools and post-investment services.
• Linear Venture: Chinese early-stage VC founded in 2014 focused on enterprise services, AI, and deep tech. Comparable angel/Pre-A stage focus and technology-sector concentration, though smaller AUM.
• Source Code Capital: Chinese technology-focused VC founded in 2014 by Cao Yi, with significant early-stage and growth investments in internet, enterprise software, and deep tech. Comparable stage breadth and digital/AI thesis.
• Vertex Ventures China: Chinese arm of Vertex Ventures with early-stage technology focus. Has co-invested alongside Innoangel in deals like PureblueAI, indicating directly comparable deal sourcing and stage.

Broad incumbents

• Matrix Partners China: Established US-China cross-border VC with operations across early and growth stages in technology. Larger and more global than Innoangel but competes for similar technology deals in China.
• IDG Capital: One of the first foreign-invested VCs in China with broad technology investment focus across stages. Incumbent competitor for both deal flow and LP capital in Chinese VC market.
• Legend Capital: Larger Chinese VC affiliated with Lenovo Holdings, investing across growth and selective early-stage technology deals. Incumbent with stronger balance sheet but less early-stage focus than Innoangel.

Others

• Shuimu Tsinghua Alumni Seed Fund: Closely affiliated Tsinghua alumni seed fund explicitly listed as a core strategic partner of Innoangel. Acts as both a co-investor and a deal flow feeder rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments321 records

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

Frequently asked questions about Innoangel Fund