Greenriver Investment

What Greenriver Investment does

Greenriver Investment (上海绿河投资有限公司, Shanghai Lvhe Investment Co., Ltd.) is a private early-stage venture capital firm founded in 2007 and headquartered in Pudong New Area, Shanghai. The firm is registered with China's Asset Management Association of China (AMAC) under code P1009805 and operates as a regulated investment management institution focused exclusively on primary-market venture capital. Its core offering is professional early-stage VC fund management, deploying capital across five vertical investment themes aligned with China's strategic emerging industries: biomedicine, new energy, new materials, semiconductors, and high-end manufacturing. Capital sources for the firm's 7 registered funds are diversified across three channels: the firm's own balance sheet, re-investment by entrepreneurs of portfolio companies, and municipal/provincial government guidance funds (e.g., Shanghai Venture Capital Guidance Fund).

As of latest disclosures, Greenriver manages cumulative assets exceeding 30 billion RMB across its 7 registered funds and has invested in more than 70 innovative companies. The firm does not develop proprietary technology; its intellectual property is investment selection expertise, sector-specific technical due diligence (notably in biomedical, semiconductor materials, and OLED), and operational support to portfolio companies. The team comprises founding partners Zhang Huiyang, Yang Jianxing, and Zhou Yan, plus investment director Xu Ou and a roster of investment managers with domain specializations spanning advanced manufacturing, semiconductors, neuroscience research, and clinical/regulatory affairs. Greenriver describes itself as a 'passive but active investor' taking long-term partnership stakes rather than aggressive control positions.

Revenue is generated through standard VC economics: management fees levied against committed/deployed AUM and carried interest realized upon successful exits. The firm's track record includes multiple IPO exits on China's STAR Market and Shenzhen Stock Exchange ChiNext, notably 江丰电子 (300666), 奥来德 (688378), 热景生物 (688068), and 航天宏图 (688066), as well as overseas listings such as 安派科 (NASDAQ: ANPC). Portfolio companies have achieved industry recognition including Samsung SAFE EDA partner status (行芯科技/PHLEXING), Top 5 global residential energy storage market share (沃太能源), and Global Cleantech 100 inclusion. Distribution is domestic-only (China), targeting institutional LP relationships and direct enterprise investment via fund structures.

Name

Greenriver Investment

Legal name

Shanghai Lvhe Investment Co., Ltd. (上海绿河投资有限公司)

Website

https://greenriver.cn

Company type

Private

Founded year

2007

Operating status

Operating

Short description

Greenriver Investment (上海绿河投资有限公司) is a Shanghai-based early-stage venture capital firm founded in 2007, managing 7 registered funds with over 30 billion RMB in AUM. It invests across biomedical, new energy, new materials, semiconductors, and high-end manufacturing, with a portfolio exceeding 70 innovative companies.

Ownership category

akta.pro rank

Product category

Venture Capital Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199)

akta.pro primary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Venture capital funds
• Early-stage investments
• Technology venture capital
• Private equity management
• Startup capital funding

Headquarters

HQ city

Pudong

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D

Revenue model

1. Venture Capital Management: Greenriver Investment generates revenue through managing early-stage venture capital funds. Their capital comes from company自有资金 (own capital), entrepreneurs from invested companies, and government guidance funds. Revenue is generated through management fees and carried interest from successful portfolio exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Greenriver Investment is a professional early-stage venture capital firm that manages seven AMAC-registered funds with cumulative assets exceeding 30 billion RMB and deploys capital into innovative startups across biomedical, new energy, new materials, semiconductors, and high-end manufacturing. It sources funds from its own capital, portfolio entrepreneurs, and government guidance funds, and has invested in 70+ portfolio companies while providing long-term capital and operational support.

Product overview

Greenriver Investment (绿河投资) is a professional early-stage venture capital investment institution founded in 2007, registered with the China Securities Fund Industry Association (registration code P1009805). The firm manages over 30 billion RMB in assets across 7 registered funds. Their investment approach focuses on biomedical, new energy, new materials, semiconductors, and high-end manufacturing sectors, having invested in over 70 innovative companies. The firm acts as a passive investor providing long-term capital and operational support to portfolio companies, integrating with national technology strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• Early-Stage Venture Capital Investment Management Professional early-stage venture capital investment management services providing capital and operational support to innovative startups in biomedical, new energy, new materials, semiconductors, and high-end manufacturing sectors, structured through seven AMAC-registered funds with cumulative AUM exceeding 30 billion RMB.

Quantifiable outcome

• Multiple successful IPO exits including 江丰电子 (300666), 热景生物 (688068), 奥来德 (688378), 航天宏图 (688066)

Named customers5 records

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

Five partnerships are on record, tiered flagship and core.

• Samsung FoundryflagshipStrategic or Co-development Partner · 1 November 2021行芯科技 (PHLEXING) became Samsung Foundry SAFE EDA ecosystem partner - one of 19 global EDA partners and the youngest company in the group. 行芯 will collaborate with Samsung Foundry on advanced process nodes and frontier technology exploration.
• JA Solar (晶澳科技)coreStrategic or Co-development Partner · 1 January 2021聚晟科技 signed strategic investment agreement with JA Solar for product R&D, production base construction, and domestic/international market expansion in solar tracking technology.
• Canadian Solar (阿特斯)coreStrategic or Co-development Partner · 1 January 2021聚晟科技 signed strategic investment agreement with Canadian Solar for joint market expansion and technology collaboration in solar tracking solutions.
• E. I. DuPont (大阳日酸)coreStrategic or Co-development Partner · 1 January 2020Japan's 大阳日酸 invested in 吉林奥来德, creating a joint venture for OLED materials development and overseas market expansion using 大阳日酸's global sales network.
• ET Solar / 中盛阳光coreStrategic or Co-development Partner · 1 January 2017沃太能源 partnered with 中盛阳光 for photovoltaic-storage integration development, combining 沃太's storage technology with 中盛阳光's PV module expertise.

Scale indicators4 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Legend Capital: China-focused venture and growth capital firm investing in IT, healthcare, clean tech, and advanced manufacturing. Comparable to Greenriver in its early-stage technology focus and similar sector verticals.
• SAIF Partners: Pan-Asia private equity and venture firm with significant China presence. Directly comparable as Greenriver has co-invested with SAIF (e.g., via SAIF Aviation Industry Fund in 沃太能源), and both target growth-stage technology and industrial opportunities in China.
• IDG Capital: One of the earliest and largest venture capital firms in China, investing across technology, consumer, and healthcare sectors. Directly comparable to Greenriver as a China-focused early- and growth-stage VC manager with diversified sector exposure and a long operating history.
• Northern Light Venture Capital: Early-stage Chinese VC firm focused on technology and growth sectors including TMT, healthcare, clean tech, and advanced manufacturing. Directly comparable by stage, sector focus, and operating geography to Greenriver.
• Plum Ventures: China-focused early-stage VC firm with technology and consumer emphasis. Comparable in stage focus and Chinese operating environment, though with different sector concentration than Greenriver's strategic emerging industries focus.
• Matrix Partners China: China-focused early-stage venture firm backing technology, consumer, and healthcare startups. Comparable in stage, sector breadth, and US-China cross-border investment expertise.

Emerging players

• Volcanics Venture: China-focused early-stage VC with technology and innovation emphasis. Comparable in stage and geography, though smaller scale than Greenriver.

Broad incumbents

• CDH Investments: Large Chinese private equity and venture firm with broad sector exposure. Comparable to Greenriver in its China focus and technology/healthcare emphasis, but operates at significantly larger scale and later stage.
• Shenzhen Capital Group: Large state-backed venture capital firm with very broad sector coverage and substantially larger AUM than Greenriver. Comparable as a government-aligned VC investing in strategic emerging industries, but with much greater scale and a wider investment spectrum.

Regional players

• Fosun Capital (Fosun Group venture arm): Venture and growth capital arm of Fosun Group, which Yang Jianxing (Greenriver partner) previously worked for. Comparable as a China-focused VC with global investment reach, though operating as a CVC tied to a larger conglomerate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments15 records

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

Frequently asked questions about Greenriver Investment