What Fuho Capital does

Fuho Capital (富汇创新创业投资管理有限公司) is a private, Beijing-based venture capital and investment management firm founded in 2008. It serves early-stage companies commercializing technologies from research institutions, with a stated focus on healthcare and pharmaceuticals, TMT, and advanced manufacturing. The firm reports 18 funds, more than RMB 4 billion in assets under management, more than 100 portfolio projects, and at least 15 portfolio companies that have achieved an IPO or public listing.

Fuho does not develop a proprietary core technology. Its investment portfolio covers businesses developing regenerative medicine, AI-enabled drug discovery, hydrogen and liquid-hydrogen systems, laser display, cellular therapy, medical devices, semiconductors, and other advanced-manufacturing technologies. Its investment cases are organized into healthcare, technology-transfer, TMT and advanced-manufacturing, and listed or quoted-company categories. These are investee technologies and portfolio categories, not internally developed products or platforms.

Fuho makes direct equity investments and describes its return mechanics as ownership stakes, capital appreciation, dividends, and proceeds from IPOs, M&A transactions, or secondary sales. It raises capital from institutional investors and deploys it into Chinese technology companies, with deal sourcing conducted through direct outreach, industry conferences, and partnerships involving research institutions such as the Chinese Academy of Sciences. The materials do not disclose management-fee rates, carried-interest participation, fund terms, realized investment income, or product pricing.

Name

Fuho Capital

Legal name

富汇创新创业投资管理有限公司

Website

https://fuhocapital.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Fuho Capital is a Beijing-based private venture capital and investment management firm serving early-stage technology companies in healthcare, advanced manufacturing, and TMT through fund investments and commercialization support from research institutions.

Ownership category

akta.pro rank

Product category

Venture Capital Management

NAICS

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

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

Keywords

• Venture capital management
• Early-stage technology investment
• Technology transfer financing
• Biotech equity investment
• Advanced manufacturing venture

Headquarters

HQ city

Haidian

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, Others

Revenue model

1. Investment Returns: Fuho Capital generates returns through equity investments in early-stage technology companies. The firm takes ownership stakes in portfolio companies and realizes returns through exit events such as IPOs, M&A transactions, or secondary sales. Revenue is derived from capital appreciation and any dividend distributions from portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fuho Capital is a private venture capital and investment management firm that manages 18 funds with over 4 billion RMB in assets under management, providing equity capital and strategic support to early-stage technology companies commercializing scientific research from institutions such as the Chinese Academy of Sciences. Its investment portfolio spans healthcare/biotech, TMT, advanced manufacturing, and technology transfer sectors, with 100+ portfolio companies and 15+ IPOs.

Product overview

Fuho Capital (富汇创新创业投资管理有限公司) is a venture capital and investment management firm specializing in early-stage technology transfer and commercialization since 2008. The firm manages 18 funds with over 4 billion RMB in assets under management and has invested in over 100 portfolio companies. Its core offering is investment management services in the healthcare/pharma, TMT/advanced manufacturing, and technology transfer sectors, targeting early-stage companies commercializing scientific research from institutions like the Chinese Academy of Sciences. The investment portfolio includes four main categories: Healthcare (医药健康) covering biotech and medical devices, TMT/Advanced Manufacturing (TMT/先进制造) covering display technology and hydrogen energy, Technology Transfer (科技成果转化) for research commercialization, and Listed Companies (已上市/挂牌) for post-IPO holdings.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Management Services Venture capital and investment management services focused on early-stage technology transfer and commercialization, managing 18 funds with over 4 billion RMB in AUM.
• Healthcare/Pharma Investment (医药健康)

Quantifiable outcome

• 18+ years operating in early-stage tech transfer
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• 中国科学院上海药物研究所 (Shanghai Institute of Materia Medica, CAS)coreStrategic or Co-development PartnerLong-term strategic partnership for drug innovation system co-construction; Fuho Capital serves as long-term strategic partner of SIMM, jointly promoting biomedical industry development in Zhongshan through technology transfer collaboration
• 中山药物创新研究院 (Zhongshan Institute for Drug Innovation)coreStrategic or Co-development PartnerCooperation platform for innovative drug R&D in Greater Bay Area; jointly hosts industry summits and signs strategic cooperation agreements
• 中国电子科技集团 (China Electronics Technology Group)coreStrategic or Co-development PartnerTechnology transfer partner; Jixiang Technology is a CETC-approved technology transfer and mixed-ownership reform enterprise

Scale indicators5 records

Recent moves4 records

Expansion highlights5 records

Emerging players

• Source Code Capital (源码资本): China-focused VC concentrated in enterprise software, deep tech, and biotech. Comparable to Fuho's TMT and advanced manufacturing portfolio, though Source Code skews more toward software/digital plays than tech-transfer origin companies.

Direct peers

• Legend Star (联想之星): Early-stage technology VC affiliated with Legend Holdings, focused on AI, biotech, and advanced manufacturing startups. Highly comparable to Fuho's early-stage tech-transfer mandate and similar portfolio stage and check sizes.
• BioVeda Capital (弘晖资本): China-focused healthcare VC investing in biotech, medical devices, and CRO/services. Closely comparable to Fuho's healthcare/biotech vertical and similar check sizes for clinical and pre-commercial stage companies.
• Matrixpartners China (经纬中国): Early-stage technology VC active across healthcare, advanced manufacturing, and digital sectors in China. Directly comparable to Fuho in stage and sector focus, with stronger brand recognition and larger average fund sizes.
• Northern Light Venture Capital (北极光创投): Early-to-growth-stage VC focused on technology, healthcare, and clean energy. Directly comparable to Fuho across its three core sectors (healthcare/biotech, TMT/advanced manufacturing, energy) with a longer operating history.
• Qiming Venture Partners (启明创投): Leading China-focused VC with deep healthcare/biotech and TMT franchises. Comparable to Fuho given overlapping healthcare portfolio emphasis (e.g., New Horizon Health-style bets) and similar stage focus, though Qiming operates at materially larger fund scale.
• CAS Innovation Investment (中科院创投): CAS-affiliated venture capital firm co-founded by Fuho's chairman Zeng Jun in 2017. Specializes in commercializing Chinese Academy of Sciences research outcomes across biotech, advanced manufacturing, and TMT, making it the most directly comparable peer in mission, sector focus, and deal sourcing.

Broad incumbents

• CDH Investments (鼎晖投资): Major Chinese private equity and venture capital platform with healthcare, TMT, and industrial growth funds. Comparable to Fuho on healthcare/biotech exposure but spans later stages and substantially larger deal sizes.
• Shenzhen Capital Group (深创投): One of China's largest state-backed venture capital firms with broad sector coverage across technology, healthcare, and advanced manufacturing. A broader incumbent competitor with substantially larger fund sizes and broader LP backing than Fuho.
• IDG Capital: Global VC with deep China franchise investing across technology, healthcare, and consumer. Comparable to Fuho on tech-transfer-adjacent bets, but operates at much larger scale with diversified stage exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments33 records

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

Frequently asked questions about Fuho Capital