What Maison Capital does

Maison Capital (麦星投资) is a China-based private equity fund management institution founded in 2004 and headquartered in Shenzhen, with additional offices in Shanghai and Hong Kong. The firm specializes in growth-stage equity investments across three core verticals — consumer, healthcare, and technology — and targets companies exhibiting either "ultimate brand" or "ultimate efficiency" characteristics for long-term value creation. The firm currently manages four RMB-denominated funds and one USD-denominated fund, with its most recent RMB fund reaching approximately RMB 1.5 billion in commitments.

The firm's distinguishing structural feature is its independent Maison Research Institute (麦星研究院), established in 2009 and operating separately from but in support of the investment team. The institute employs a bottom-up research methodology and has cumulatively covered 25 CITIC-tier-1 industries and over 520 companies, generating proprietary sector intelligence that feeds investment decision-making. Maison Capital also operates an institution-level ESG framework — formalized through B Corp certification in 2020 and UN PRI signatory status — making it the first private equity firm in China to receive B Corp recognition.

The firm's Limited Partner base is over 80% institutional, including government guidance funds, insurance companies, state-owned enterprises, market FOFs, QFLP investors, and high-net-worth individuals. Revenue is generated through standard PE management fees (typically ~1-2% on committed capital) plus performance carry from successful exits. Notable portfolio outcomes include DJI, Transsion Holdings, Giant Biogene (2022 Hong Kong IPO), Yiheng Jiaye (respiratory medical devices, global #2 by volume), Nasen Technology (wire-controlled automotive braking), Enxi Village (frozen bakery, majority acquired by Mondelez International), and Laoxiangji (Chinese fast-food chain with 1,200+ stores). The firm employs 11-50 staff across investment, research, and operations functions, and is led by Founding Partner Wenli Cui alongside partners Zhong Zheng, Ellaine Zhou, Claire Wu, and Huaqiang Lin.

Name

Maison Capital

Legal name

Maison Capital

Website

https://maisoncapital.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Maison Capital is a China-based private equity firm founded in 2004, managing RMB and USD growth-stage funds focused on consumer, healthcare, and technology sectors. It serves institutional LPs with over 80% institutional investor concentration and operates a proprietary independent research institute supporting investment decisions.

Ownership category

akta.pro rank

Product category

Private Equity / Venture Capital Fund Management

NAICS

Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

akta.pro secondary industry

Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)

Keywords

• Private equity funds
• Growth-stage investments
• Consumer sector investing
• Healthcare equity investing
• ESG-integrated venture capital

Headquarters

HQ city

Grand Cayman

HQ country

Cayman Islands

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. 基金管理费收入: 麦星通过管理人民币基金和美元基金，向LP收取管理费作为日常运营收入。LP包括政府引导基金、保险机构、国有企业、市场化母基金、QFLP和高净值个人，机构投资人占比超过80%。
2. Carry/业绩提成收入: 作为私募股权机构，麦星通过投资组合公司的退出实现资本增值，从中获得业绩提成（Carry），这是私募股权基金的核心利润来源。

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Maison Capital is a private equity fund management institution that raises RMB and USD funds from institutional LPs and deploys capital into growth-stage companies in consumer, healthcare, and technology sectors. It captures value through management fees on committed/invested capital and carried interest (Carry) from successful exits, supported by an in-house research institute and ESG-integrated decision-making.

Product overview

麦星投资是一家专业从事股权投资业务的私募基金管理机构，目前管理四支人民币基金和一支美元基金。公司的核心产品包括人民币基金和美元基金两大投资管理服务，投资领域集中在以消费为核心的服务、产品与科技，涵盖消费、医疗和科技三大领域。麦星投资拥有独立的行业研究团队（麦星研究院），通过自下而上的研究方法积累长周期的商业发展历史，为投资活动提供决策支持。公司将ESG投资理念融入投资全流程，致力于成为受人尊重的专业投资机构。

Differentiator

Problem solved

Functional benefit

Products and services

• RMB Funds (人民币基金管理服务) RMB-denominated private equity fund management services that invest in growth-stage, high-quality companies in consumer, healthcare, and technology sectors. LPs include government guidance funds, insurance institutions, SOEs, market-based parent funds, QFLP, and high-net-worth individuals, with institutional investors accounting for more than 80%.
• USD Fund (美元基金管理服务) USD-denominated private equity fund management services covering the same investment verticals (consumer, healthcare, technology), enabling cross-border investment opportunities for international LPs and providing dollar-currency exposure for Chinese growth-stage companies.
• Maison Research Institute (麦星研究院) Maison Capital's in-house independent industry research organization that uses a bottom-up research methodology to accumulate long-cycle business development histories across 25 first-tier industry categories and 520+ companies, providing decision support for the investment team.
• ESG Investment Service Integration of environmental, social, and governance (ESG) responsible investment principles into the firm's entire investment process — from investment analysis and decision-making to internal and external management — and active board-level ESG improvement of portfolio companies.

Quantifiable outcome

• 麦星投资20年间长期保持业内高水平的投资回报率
• +2 more outcomes

Named customers16 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• B Lab（共益实验室）coreStrategic or Co-development Partner · 1 January 2021麦星于2020年通过共益影响力评估（BIA）认证，正式成为国内首家获得B Corp认证的私募股权投资机构（共益企业），入选B Corps案例集。ESG实践获得B Lab体系认可。
• 联合国负责任投资原则（UN PRI）coreStrategic or Co-development Partner · 1 January 2020麦星投资在成为共益企业的同时签署联合国负责任投资原则（UN PRI），承诺贯彻执行负责任投资六项原则，包括将ESG纳入投资分析和决策过程、使用积极所有权进行ESG实践，并按要求定期报告。

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vision Knight Capital (天图投资): Vision Knight Capital is a China-based PE firm that specializes in consumer-sector investments across growth-stage companies, sharing Maison's core focus on consumer brands and the similar RMB-denominated fund structure serving Chinese institutional LPs.
• Loyal Valley Capital (正心谷资本): Loyal Valley Capital is a China-focused PE firm investing in consumer, technology, and healthcare growth-stage companies with RMB funds, closely comparable to Maison in sector focus, fund size, and target company stage.
• Source Code Capital (源码资本): Source Code Capital is a China-based venture and growth investor with strong technology and consumer internet exposure, comparable to Maison's tech-sector investing approach but with earlier-stage and more software-internet focused deal flow.
• INCE Capital (啟明创投): Qiming Venture Partners is a China-focused venture and growth investor with significant healthcare and consumer-tech exposure, sharing Maison's sector priorities and institutional LP base with overlapping portfolio company profiles.

Broad incumbents

• CDH Investments (鼎晖投资): CDH Investments is one of China's largest alternative asset managers with significant consumer, healthcare, and industrial PE exposure, operating at a much larger AUM scale than Maison but competing for similar growth-stage deals and institutional LP capital.
• Hillhouse Capital (高瓴资本): Hillhouse Capital is a major China-focused investment firm with deep consumer and healthcare investment portfolios, overlapping with Maison's sector focus but operating at significantly greater scale with both public and private market capabilities.
• Sequoia Capital China (红杉中国): Sequoia China is a leading venture and growth equity investor in China covering consumer, healthcare, and tech sectors, competing for similar high-quality growth-stage deals and LP allocations across RMB and USD vehicles.
• Hony Capital (弘毅投资): Hony Capital is a long-established China PE firm with consumer and healthcare investment focus, sharing Maison's institutional LP base and RMB fund structure while operating across buyout and growth stages at a larger scale.
• CITIC Capital (中信资本): CITIC Capital is a Hong Kong and China-based alternative investment manager with significant PE operations in consumer, healthcare, and industrials, comparable to Maison's RMB/USD fund structure but at substantially greater scale.
• Boyu Capital (博裕资本): Boyu Capital is a leading China-focused PE firm with broad sector exposure including consumer and healthcare, sharing Maison's institutional LP base and growth-stage orientation while operating at a much larger AUM scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/maison-capital

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments36 records

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

Frequently asked questions about Maison Capital