China Growth Capital

What China Growth Capital does

China Growth Capital (华创资本) is an early-stage venture capital and venture lending firm founded in 2006 in Beijing, China, with operating fund history dating to 2014. The firm has managed nearly RMB 10 billion (approximately $1.4 billion) in assets under management across multiple fund vintages and has invested in more than 200 portfolio companies spanning four primary verticals: enterprise software and services, frontier technology and hardware (including space tech, autonomous driving, AI chips, surgical robotics, protein sequencing), life sciences and healthcare, and consumer/industry upgrade.

The firm's core product is its '3V' offering — Venture Capital (equity investment), Venture Lending (growth-stage debt for high-growth enterprises), and Value-Add (post-investment services including strategic guidance, network introductions, and operational support). Notable portfolio companies include Seer Robotics (仙工智能, HKEX: 06106), Yinnuo Pharma (银诺医药, HKEX: 02591), Tiger Brokers (NASDAQ: TIGR), 什么值得买 (SZSE: 300785), 文远知行 (NASDAQ: WRD), LandSpace (蓝箭航天), Mech-Mind, PingCAP, XREAL, and Aibee. The firm maintains a flagship co-investment partnership with IDG Capital through the 华创-IDG天使基金 (China Growth Capital-IDG Angel Fund), which has deployed approximately 100 angel-stage investments with roughly 75% securing follow-on from institutional investors, and additional co-investment relationships with Sequoia China, Hillhouse, Qiming Venture Partners, ZhenFund, and Matrix Partners China.

Name

China Growth Capital

Legal name

华创汇才投资管理（北京）有限公司

Website

https://cgcvc.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

China Growth Capital is a Beijing-based early-stage venture capital firm managing ~RMB 10 billion AUM across 200+ portfolio companies in enterprise software, frontier tech, life sciences, and consumer sectors, offering venture capital, venture lending, and value-added services.

Ownership category

akta.pro rank

Product category

Venture Capital and Investment Management

NAICS

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

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

akta.pro secondary industries

Technology & Software Growth Equity (FSANACAA), Healthcare & Life Sciences Growth Equity (FSANACAB)

Keywords

• Venture capital investing
• Early stage funding
• Growth stage equity
• Venture lending
• Portfolio company services

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: VC firms typically charge management fees on committed capital (e.g., 2% of AUM) as the primary source of operating revenue.
2. Carried Interest (Performance Fees): VC firms earn carried interest (typically 20%) on profits from successful portfolio company exits, representing the performance-based portion of revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

China Growth Capital is an early-stage venture capital firm that provides equity investment (Venture Capital), growth-stage debt (Venture Lending), and post-investment value-added services to startups in China. Since establishing its first fund in 2014, the firm has managed nearly RMB 10 billion in assets across multiple fund vintages and invested in more than 200 companies spanning enterprise software, frontier technology and hardware, life sciences and healthcare, and consumer upgrades. Its integrated '3V' product model combines equity capital, high-growth enterprise debt, and ongoing portfolio support to help early-stage Chinese companies scale from seed through growth stage.

Product overview

China Growth Capital (华创资本) is an early-stage venture capital firm focused on cross-disciplinary technological frontier productivity. Since establishing its fund in 2014, the firm has managed approximately 10 billion RMB in assets and invested in over 200 companies across frontier technology and life sciences. The firm's investment focus spans four primary verticals: enterprise software and services, frontier technology and hardware, life sciences and healthcare, and consumer upgrades. China Growth Capital's product offering is its '3V' model — Venture Capital (equity investment), Venture Lending (high-growth enterprise debt), and Value-Add (post-investment services). The firm does not develop or sell its own technology products; its portfolio includes companies such as Shenseg AI (仙工智能), a robotics 'brain' platform; Mech-Mind (梅卡曼德), an AI+3D industrial robotics solution provider; Weride (文远知行), an autonomous driving technology company; InnoPharm (银诺医药), a GLP-1 innovation drug developer; LandSpace (蓝箭航天), a commercial launch vehicle developer; PingCAP, an open-source distributed database company; and XREAL, a leading AR glasses manufacturer.

Differentiator

Problem solved

Functional benefit

Products and services

• Venture Capital (Equity Investment) Early-stage and growth-stage equity investment in Chinese startups and growth companies across enterprise software, frontier technology, life sciences, and consumer upgrade sectors. Provided to portfolio company founders via direct outreach and warm introductions.

Quantifiable outcome

• Portfolio includes multiple IPOs (什么值得买, 老虎证券, 文远知行, 银诺医药) and M&A exits (才云科技 by ByteDance, 小满科技 by Alibaba, Airlango by Meituan)
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Portfolio Companies (200+)coreOthersOver 200 portfolio companies across enterprise software, frontier tech, and life sciences form an active ecosystem. Portfolio founders frequently refer deal flow and collaborate within the network. Notable alumni companies include 什么值得买 (ChiNext: 300785), Wish (NASDAQ: WISH), 老虎证券 (NASDAQ: TIGR), 文远知行 (NASDAQ: WRD), 银诺医药 (HKEX: 02591), XREAL (AR glasses leader), 梅卡曼德 (industrial 3D vision), 图达通 (lidar), PingCAP (distributed database), 深鉴科技 (acquired by Xilinx/NVIDIA), 才云科技 (acquired by ByteDance), 小满科技 (acquired by Alibaba), Airlango (acquired by Meituan).

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Northern Light Venture Capital: Early-stage China VC investing in enterprise software, frontier tech, and healthcare. Co-investor with China Growth Capital and direct competitor in early-stage Chinese deals.
• GGV Capital: Global VC with significant China presence investing in enterprise, fintech, and frontier tech at early to growth stages. Co-investor in multiple CGC portfolio companies (TigerGraph, Tongdun, Aibee) and direct competitor.
• IDG Capital: One of China's earliest and largest VC/PE firms with broad early-stage and growth investing across tech, consumer, and healthcare. Direct peer and active co-investor through the jointly-established 华创-IDG天使基金.
• HongShan (Sequoia China): Premier Chinese VC investing across seed to growth stages in tech, healthcare, and consumer. Frequent co-investor with China Growth Capital across multiple portfolio companies and a direct competitor for lead deals.
• Hillhouse Capital: Major China-focused investment firm spanning early-stage VC, growth equity, and public equities across tech, healthcare, and consumer. Co-investor with China Growth Capital, including as a cornerstone IPO investor in Yinnuo Pharma.
• Matrix Partners China: Early-to-growth stage China VC investing in enterprise, consumer, and fintech. Active co-investor in CGC's portfolio companies (e.g., Shunwei/小米 ecosystem deals) and a direct competitor for early-stage Chinese deals.
• Qiming Venture Partners: Leading China VC focused on early-to-growth healthcare, TMT, and consumer investments. Frequent co-investor with CGC in life sciences and tech deals; comparable fund size and stage focus.
• ZhenFund: Prominent Chinese seed and angel investor with broad portfolio across consumer, enterprise, and frontier tech. Co-investor with China Growth Capital and direct competitor for early-stage deals in Beijing.
• Source Code Capital: China-focused early-to-growth VC backing enterprise services, fintech, and consumer internet. Comparable stage and sector overlap to China Growth Capital, particularly in enterprise software.

Broad incumbents

• Sinovation Ventures: Established China tech VC/incubator founded by Kai-Fu Lee with broad AI, enterprise, and consumer portfolio. Overlapping coverage in AI/deep tech but larger platform and broader stage range than CGC.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/cgc_vc

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

Investments227 records

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

Frequently asked questions about China Growth Capital