What Phoenix Tree Capital Partners does

Phoenix Tree Capital Partners (梧桐树资本) is a privately-held, platform-type comprehensive private equity investment institution founded in 2013 and headquartered in Beijing's Chaoyang District. The firm operates three core business segments: Mother Fund (母基金/Fund-of-Funds), Venture Capital (VC) funds, and M&A/PIPE funds (并购及PIPE基金), targeting China's strategic emerging industries including hard technology, semiconductors, new energy materials, and healthcare. The firm directly manages four parent funds — 聚凤产业发展基金, 双阳转型母基金, 未来产业创新基金, and 铜陵高质量发展基金 — and has registered 16 industrial funds, invested in 14 sub-funds (including Qianhai Parent Fund, Dingxing Quantum, Shanlan Capital, Yunbai Capital), and indirectly covers 340+ sub-funds and projects.

The firm's revenue model follows standard PE/VC economics: recurring management fees (typically 1-2% of committed capital annually) and carried interest (typically 20% of profits above the hurdle rate) from successful investments. Distribution is conducted through direct institutional sales to LPs — institutional investors, family offices, government guidance funds, and high-net-worth individuals — supplemented by an event-driven marketing approach anchored by branded programs including the annual 'Phoenix Tree Open Day' (now in its 21st edition), 'Phoenix Tree Investment Insights' research publications, and the '母基金·佰仁荟' annual summit. Notable portfolio companies include Zhongke Haina (sodium-ion batteries with CAS Institute of Physics technology lineage), Tongfu Microelectronics, Taojing Technology, Zhejiang Zhongning Silicon, Dolphin Star (handling robots), and Xindong Network (02400.HK). The firm employs 11-50 people and maintains a proprietary six-process investment methodology (research, fundraising, investment, management, exit, review) refined over 8+ years, producing approximately 200 industry research reports.

The firm's competitive positioning is anchored in an 'Industry + Capital' dual-drive strategy and an ecosystem spanning government guidance fund management (10B yuan Tongling mandate, 20B yuan Hefei preparation, historical roles with 28.5B Qianhai, 40B Hubei Yangtze, 20B Tianjin Haihe, 30B Jiangxi Modern Industry funds), deep relationships with 40+ listed company partners and 200+ GP counterparts, and a fluorine new materials industry fund co-established with Dfdchem. Recent strategic actions include leading a cross-border acquisition of Sumitomo Chemical's polarizer business (December 2024), adding two senior M&A-focused partners in 2025, and harvesting the firm's first ChiNext IPO (Hongming Electronics, March 2026).

Name

Phoenix Tree Capital Partners

Legal name

梧桐树资本

Website

https://ptpcapital.cn

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Phoenix Tree Capital Partners is a Beijing-based private equity platform founded in 2013, operating Mother Fund, VC, and M&A/PIPE vehicles that invest in China's hard technology, semiconductors, new energy materials, and healthcare sectors for institutional, government, and high-net-worth LPs.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Evergreen / Open-Ended Multi-Manager Platforms (FSANAGAM)

Keywords

• Private equity investment
• Venture capital funds
• Fund of funds management
• Strategic emerging industries
• Semiconductor investment

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: Private equity fund management institutions typically charge management fees based on committed capital, usually ranging from 1-2% annually during the investment period.
2. Carried Interest (Performance Fees): PE/VC firms earn carried interest (Carry) on profits generated from successful investments, typically 20% of returns above the hurdle rate.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Phoenix Tree Capital Partners is a platform-type, comprehensive private equity investment institution that directly manages mother funds (fund-of-funds), venture capital funds, and M&A/PIPE funds. The firm invests across the full lifecycle from angel to Series B stages in hard technology, semiconductors, new energy materials, and healthcare sectors, providing capital and strategic support to technology innovation companies and managing LP capital from government guidance funds, listed companies, family offices, and high-net-worth individuals.

Product overview

Phoenix Tree Capital Partners (梧桐树资本) operates as a platform-type, comprehensive private equity investment institution with three core fund management segments: 母基金 (Mother Fund / Fund-of-Funds), 风险投资 (Venture Capital / VC Fund), and 并购及PIPE基金 (M&A and PIPE Fund / PE Fund). The firm also hosts branded programs including 梧桐树开放日 (Open House events), 行研日 (Research Day), 母基金·佰仁荟 (Bai Ren Hui brand), and 梧桐商学院·CEO成长营 (CEO Growth Camp). Mother Fund management includes four directly managed funds: 聚凤产业发展基金, 双阳转型母基金, 未来产业创新基金, and 铜陵高质量发展基金. The VC arm has filed 16 industrial funds, investing across semiconductors, new energy materials, AI, and advanced manufacturing, covering angel through Series B stages. The M&A/PIPE arm focuses on strategic placements,定向增发, 战略配售, and controlling acquisitions in target companies.

Differentiator

Problem solved

Functional benefit

Brands

• 母基金·佰仁荟: 梧桐树资本打造的母基金品牌，与全国超过200家国家级基金、各级政府引导基金、市场化母基金等建立往来，可触达圈层覆盖基金管理规模超过10000亿元
• 梧桐树行研日
• 梧桐树开放日

Products and services

• Mother Fund / Fund-of-Funds (母基金)
• Venture Capital Fund (风险投资基金)
• M&A and PIPE Fund (并购及PIPE基金)
• Fluorine-based New Materials Industry Fund (氟基新材料产业基金)

Quantifiable outcome

• Investment in companies achieving breakthrough in sodium-ion battery technology - Zhongke Haina's sodium-ion battery achieved mass production with 300,000 units/month capacity
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered major and core.

• 浙江中宁硅业有限公司 (Zhejiang Zhongning Silicon)majorStrategic or Co-development Partner · 4 January 2024Led an approximately 800 million yuan strategic investment in Zhongning Silicon, a subsidiary of Dfdchem specializing in electronic specialty gases and new energy materials.
• 中国科学院物理研究所 (Chinese Academy of Sciences Institute of Physics)coreStrategic or Co-development Partner · 26 March 2023Technology partnership through portfolio company Zhongke Haina, which features a technical team led by CAS Academician Chen Liquan and Researcher Hu Yongsheng for sodium-ion battery development.
• 多氟多新材料股份有限公司 (Dfdchem)coreStrategic or Co-development PartnerStrategic partner in new energy materials with a 2 billion yuan fluorochemical industry fund co-established. The partnership focuses on fluorine-based new materials investment and industrial integration.
• 华阳集团 (Huayang Group)majorStrategic or Co-development PartnerStrategic cooperation in electrochemical energy storage and new energy materials. Multiple senior-level meetings held to explore industrial investment opportunities and resource integration.
• 拓荆科技股份有限公司 (Taojing Technology, 688072.SH)majorStrategic or Co-development PartnerStrategic partnership with STAR Market listed semiconductor equipment company. The firm participated in supporting the company's listing and continues to provide post-investment value-added services.
• 通富微电子股份有限公司 (Tongfu Microelectronics, 002156.SZ)majorStrategic or Co-development PartnerStrategic partner in semiconductor packaging and testing. Phoenix Tree Capital and China Cinda jointly subscribed to a 320 million yuan directional placement to help increase market share.
• 中科海钠科技有限公司 (Zhongke Haina Technology)coreStrategic or Co-development PartnerCore portfolio company and exclusive investor in sodium-ion battery technology. Phoenix Tree led hundreds of millions of yuan A-round investment and continued to add investment in follow-on rounds.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• HongShan (formerly Sequoia Capital China): One of China's largest and most established venture capital and growth equity firms, investing broadly across technology, healthcare, and consumer sectors. Comparable to Phoenix Tree as a comprehensive Chinese PE/VC platform, but operates at significantly larger scale with global LP base.
• IDG Capital: Pioneering Chinese VC/PE firm investing across TMT, advanced manufacturing, healthcare, and new energy. Comparable as a long-established Chinese PE platform with similar sector breadth, though larger AUM and more international presence.
• Hillhouse Capital: Major Asian investment firm managing public and private equity across consumer, healthcare, and technology. Comparable to Phoenix Tree in broad investment platform approach, though operates at substantially larger AUM scale.

Direct peers

• Legend Capital: Beijing-based PE/VC firm investing in early to growth-stage technology and healthcare companies in China. Directly comparable to Phoenix Tree in stage focus (angel to growth), sector emphasis (TMT, new energy, healthcare), and mid-market deal size.
• Matrix Partners China: Chinese arm of Matrix Partners investing in early-to-growth stage technology companies. Comparable to Phoenix Tree in stage focus and technology/consumer sector emphasis, with similar fund size and team structure.
• Source Code Capital: Beijing-based VC firm focused on deep tech, enterprise software, and technology-enabled industries. Comparable to Phoenix Tree in technology sector focus and early-to-growth stage investing, with similar team size and fund profile.
• Shenzhen Capital Group: Major government-backed venture capital firm managing significant municipal guidance fund capital. Comparable to Phoenix Tree in its reliance on government capital and focus on strategic emerging industries, though larger scale.
• Cowin Capital: Chinese PE/VC firm investing in technology, media, healthcare, and clean energy sectors. Comparable to Phoenix Tree in multi-strategy approach and sector focus, with similar mid-market positioning.
• Addor Capital: China-focused PE firm with emphasis on hard technology, semiconductors, and advanced manufacturing. Directly comparable to Phoenix Tree in hard-tech sector specialization and similar fund vintage profile.
• Glory Ventures: Chinese VC firm focused on hard technology, semiconductors, and advanced manufacturing sectors. Comparable to Phoenix Tree in hard-tech investment focus, though typically invests at earlier stages with smaller check sizes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments35 records

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

Frequently asked questions about Phoenix Tree Capital Partners