ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 700 portfolio companies, including near 20 unicorns based in China. ZhenFund is honored to have been ranked “#1 Early-Stage Investment Firm” by Zero2IPO five years in a row 2014-2018.
We believe that great businesses start with exceptional founding teams. We are dedicated to helping our entrepreneurs build successful companies by providing them with mentorship and the best resources available. Some of our services include biannual demo days to top Chinese VCs, ZhenHR services, marketing and PR consulting, as well as fundraising. Our strong and large CEO network also facilitates entrepreneurs helping each other, especially via our wechat platform. We were voted “Best Portfolio Management Service of The Year”in 2016 and 2017 by China Renaissance.
ZhenFund has been ranked #1 "Early-stage Investment Firms of the Year" by Zero2IPO Group for 5 consecutive years from 2014
Bob Xiaoping Xu has ranked #11 twice on The Midas List by Forbes in 2018 and 2019
Total AUM of 1 Billion USD
8 of portfolio companies have IPOed, including: Jiayuan (NASDAQ: DATE), LightinTheBox (NYSE:LITB), Jumei(NYSE: JMEI), 51Talk (NYSE: COE), NetPosa(300367), Xiaomi(01810), NIU(NASDAQ: NIU), and Tiger Brokers(NASDAQ: TIGR)
Zhenfund's portfolio includes 18 companies with valuation of more than 1 billion USD including Meicai, VIPKID, RED (Xiaohongshu), URWork, Yitu Technology, Horizon Robotics, ZhaoGang, Luogic Knowledge Group, Hero Entertainment, Nuro, Momenta, Mia, Mobvoi, 17zuoye, Perfect Dairy, Xingsheng, Xiaoyu, and Shuidi
Invested in more than 700 start-ups
ZhenFund and Sequoia China jointly launched the exclusive Ostrich Club in 2019 to attract and cultivate the new generation of technology business leaders in China into our ecosystem of future entrepreneurs.
The founders of ZhenFund and Sequoia China, namely Bob Xu, Victor Wang and Neil Shen, are the resident mentors for the Ostrich Club. Victor Wang serves as its Chairman and leads each session.
Ostrich Club is an open application for experienced executives of leading companies with a passion for starting their own businesses. Ostrich Club has three principles: free, no equity taken, and ultimate membership privacy.
Ostrich Club holds two programs a year, with each program spanning six weekends. People who have completed the program will become lifetime members of the Ostrich Club; they also gain access to all of the supporting resources offered by both Sequoia China and ZhenFund.
To join the Ostrich Club: send a self-introduction of 140 words or less to the Ostrich Club mailbox: [email protected]
ZhenCraft is a theme based monthly accelerator designed for entrepreneurs who have just started their startup journey. Themes include education + AI, third/fourth tier underserved market opportunities in China, and D2C brands. The monthly format varies from an afternoon expert panel to a cross-border one week trip to study new markets. Entrepreneurs in our program learn from event speakers about the industry, as well as from each other.
ZhenFund is aware of the challenges startups often face when starting their businesses; ZhenResidence is designed to help potential entrepreneurs gain insight into the real world of starting a company in China by taking them to visit 2 fast growing companies per day and listening to the CEOs share their startup experience.
Led by Victor Wang, the co-founder of ZhenFund, members of ZhenResidence will visit ZhenFund’s portfolio companies to learn start-up strategies from these pioneering entrepreneurs, appreciate their inspiration, vision, personal choice, as well as their stories on the way of their start-up journeys.
As a “Mini Business School” of ZhenFund, ZhenResidence is held twice a year during the summer and the winter, with each program lasting about one week. As of today, ZhenResidence has been held a total of 11 times in six years, helping more than 300 potential entrepreneurs pursue their dreams.
A number of start-up projects have been funded by ZhenFund via ZhenResidence .
ZhenWheels is a platform for selecting students who are passionate about entrepreneurship to interact with ZhenFund’s investment team and entrepreneurs. By sharing our knowledge of startup experiences and internet ideas through ZhenWheels campus events, we hope to build an early relationship with passionate students and help them find their way to working at startups or starting their own companies.
Through ZhenWheels, we have visited multiple esteemed universities such as Tsinghua University, Peking University, Shanghai Jiao Tong University, Stanford University, Harvard University, and MIT, and have held events such as ZhenFund PKU Open Day and Product Manager Day.
ZhenMasters is a speaker series where ZhenFund invites renowned business leaders from all industries to talk with ZhenFund’s portfolio CEOs.
Past speakers include: Neil Shen (Global Steward of Sequoia), Allen Zhu (Managing Director of GSR Ventures), Kathy Xu (Founder of Capital Today), Yahui Zhou (Founder of Kunlun), Gang Wang (Angel Investor of Didi), Bangxin Zhang (Founder of TAL Group), Fan Bao (Founder of China Renaissance), and more. As speakers, they share industry insights, provide strategic advice, and offer development guidance to inspire CEOs of ZhenFund’s portfolio companies.
ZhenTalk is one of the most important portfolio service events offered by ZhenFund. We regularly invite experienced experts in specific fields to conduct face-to-face training with team members of ZhenFund portfolio companies. These fields include branding, HR, finance, and legal, among others.
ZhenTalk not only helps entrepreneurs solve the many problems a start-up would face, but it also serves as a platform for interaction between company team members and field experts.
Demo Day is an recurring event to help ZhenFund portfolio companies showcase their progress and raise next round funding.
Every 6 months, ZhenFund invites 20-30 recently invested in portfolio companies for a 4 minute pitch in front of senior investors from more than 80 prestigious venture funds. Demo Day has been successfully held 7 times so far, and has helped more than 60 companies complete their next round of funding.
Pitch Day is a monthly held event. We select 20-30 startup teams from ZhenFund Dream Center ([email protected]) where we receive business plans; we then invite them to meet members of our investment team to pitch their business ideas during a “240 second dream pitch”.
Several ZhenFund star portfolios such as Zhaogang, 51Talk, and Talent Cloud were discovered through this event.
ZhenBridge is an overseas study tour for ZhenFund’s portfolio company founders, led by ZhenFund’s senior investment team.
By learning from world-leading corporations through ZhenBridge, founders can broaden their vision and promote exchanges between domestic and foreign startups.
ZhenBridge has hosted a series of study trips including a Los Angeles Entertainment and Content Tour, a Silicon Valley Artificial Intelligence Tour, a Japanese 2B Service Tour, and two Souheast Asia market overview study trips.
ZhenBreakfast is a regularly organized event for founders and CEOs of portfolio companies. Each ZhenBreakfast has a different theme, and gathers 8 founders and CEOs who are either facing similar problems or come from related industries. Together with Bob Xu, the founder of ZhenFund, these founders and CEOs can share their views and solve various problems encountered by their companies while enjoying breakfast together.
ZhenBreakfast helps entrepreneurs solve difficult problems through effective communication, and has received constant high praise from participated entrepreneurs.
Anna Fang is the CEO and a partner of ZhenFund, an early stage venture capital firm in China. In her role as CEO, Anna oversees Zhenfund’s investments, portfolio management and operations. Anna’s areas of investment expertise include consumer related companies such as RED (XiaoHongShu), Perfect Diary, Mia, Club Factory, Yitu, Mobvoi, Horizon Robotics, and VIPKID.
Before joining ZhenFund, Anna worked at GE China in Corporate Business Development, and was responsible for GE’s M&A and BD efforts in China. Anna started her career as an investment banker at JPMorgan New York office, focusing on consumer and retail companies.
Anna made Forbes’ Midas List in 2019, was named one of the Top 10 Early-stage Investors of the Year by Zero2IPO Group in 2018, was voted one of China's 100 Best Investors by entrepreneurs on 36Kr in 2018, and was selected to Forbes’ Midas Brink List in 2016. She was also named a Young Global Leader in 2016.
Anna received an undergraduate degree from Columbia University in Economics and a Master’s degree in Business Administration from Stanford’s Graduate School of Business. She is currently an advisory board member of Columbia College and Columbia’s Global Centers; she also leads the Beijing chapter of Stanford GSB.
Zhaoyu (Jack) Zheng is a partner at ZhenFund, where he has invested in and managed companies such as Meicai, EasyFlower, 51talk, Zhaogang, Locals, and more.
Prior to joining ZhenFund, Zhaoyu was the Vice President of the Education International Corporation, one of China’s leading providers in overseas study. He also served as the Principal of the Taiyuan New Oriental School. Zhaoyu was named one of the 40 Under 40 Investors by China’s Entrepreneur Magazine in 2015.
Zhaoyu received a Master’s Degree in Management from Peking University.
Arthur Zhang is the Managing Director of ZhenFund, with featured deals including ofo bicycle, ShebaoTech, Lyncmed Medical, UISEE, 12 Block, Kuaitu Logistics, X-charge, Fanyimeng, etc.
Prior to joining ZhenFund, Arthur worked with Baidu Investment, M&A Department, and Booz&Company in both the US and China.
Arthur holds a Ph.D. in Transportation & Operations, a Master's degree in Economics from Northwestern University, and a Bachelor's degree in Engineering from Tsinghua University.
Yuan Liu is a Managing Director at ZhenFund, having led investments in Momenta, CastBox, Yi23, Xinshixiang, 12 Sigma, TongSoon, and other companies.
Prior to ZhenFund, Yuan worked at Greenspring Associates and was responsible for fund investments and late stage direct investments worldwide. Yuan also serves as a member of the Baltimore Chamber Orchestra Board of Trustees.
Yuan received his Bachelor's degree in Accounting and Business Administration from Washington and Lee University.
Emma Yin is a Vice President of ZhenFund. She led investments in Aibee, Hesai, Chaitin Tech, Zaihui, SYNYI AI, AutoX, Flexiv Robotics, BlackLake, ImageDT, and Adaps Phototonics.
Emma received her Bachelor's degree with a double major in Accounting and Economics from Illinois Wesleyan University, and obtained a Master's degree in East Asian Studies from Stanford University.
Gaopeng Chen is a Vice President of ZhenFund, and specializes in the healthcare sector.
Prior to joining ZhenFund, Gaopeng was an investment professional at Langsheng Investment. Prior to that, he served in Eli Lilly and Company in China, and participated in multiple pharmaceutical developments.
Gaopeng received a Bachelor's degree from Sichuan University and obtained a Ph.D. from LKS Faculty of Medicine, the University of Hong Kong. He also conducted research at the Icahn School of Medicine at Mount Sinai.
James Jiang is the Vice President of ZhenEdu Fund, and specializes in the education sector. Some of his major investments include Hualala, MagicEars, and Duia Online Education.
Prior to joining ZhenEdu, James Jiang was a Senior Investment Associate at Blue Elephant Capital. He also served as Investment Associate in TAL Group, and participated in a number of EdTech Company’s investment and M&A.
James received his bachelor’s and master’s degrees in the University of Science and Technology Beijing.