ZhenFund

ZhenFund is a venture capital firm established in 2011 by Bob Xu and Victor Wang, in collaboration with Sequoia Capital China. Based in Beijing, with additional offices in Shenzhen, Shanghai, and Silicon Valley, ZhenFund focuses on seed stage investments and has over $1 billion under management. The firm primarily targets sectors such as e-commerce, education, artificial intelligence, mobile internet, and healthcare. Its portfolio includes over 750 high-growth companies, highlighting its significant presence in China’s early-stage venture capital landscape. Notable investments include companies like OFO, VIPKID, and Hero Entertainment. ZhenFund aims to support and inspire the next generation of global entrepreneurs, leveraging the founders' extensive experience in the education sector and successful investment track records.

Anna Fang

Founding Partner and CEO

Wei Kuang

Principal

Yuan Liu

Partner

Tianyi Qin

Principal

Yuguang Sun

Investment Associate

Lulu Sun

VP

Victor Wang

Co-Founder

Debbie Wang

VP

Terry Wang

Venture Partner

Bob Xiaoping Xu

Founding Partner

Fangzhou Yao

Managing Director

Li Yi

Investment Associate

Emma Yin

Partner

Meng Yuan

Investment Associate

Yazhe Zhang

Board Member, Partner and Director

Zhaoyu Zheng

Partner

Past deals in Retail

KNOWIN Trend Lab

Venture Round in 2021
Knowin is a vertical community e-commerce platform for sports categories dedicated to creating a trendy fashion space for young people.

KNOWIN Trend Lab

Series A in 2021
Knowin is a vertical community e-commerce platform for sports categories dedicated to creating a trendy fashion space for young people.

Nice Tuan

Series B in 2020
Nice Tuan is an e-commerce platform that specializes in providing daily groceries and a variety of household products. The company collaborates with local residential communities to source items from nearby warehouses and producers, ensuring a wide selection of fresh produce and essential goods for residents. By focusing on creating a convenient and efficient community e-commerce ecosystem, Nice Tuan aims to enhance the shopping experience for local consumers while supporting local suppliers.

Tongcheng Shenghuo

Series B in 2019
Tongcheng Life is a community O2O group purchase service platform. With the community as a unit, it establishes a community sales office and completes offline delivery. The platform provides supply, logistics, storage and after-sales support. It mainly provides primary edible agricultural products, food, daily necessities, flowers and gardening, and crafts. , Beauty products and other services.

STAMP

Seed Round in 2019
Stamp Italy Srl is a technology company focused on enhancing the tax-exempt shopping experience for non-European visitors. Founded in 2018 and based in Rosolina, Italy, it operates a mobile application that facilitates VAT-exempt purchases in collaboration with partnered retailers. The platform not only serves travelers but also supports merchants by enabling them to issue electronic tax-free invoices. By streamlining the process of tax-free shopping, Stamp aims to grow its presence in the eastern tourism market, providing a marketplace that allows users to shop without incurring value-added tax on their purchases.

Tongcheng Shenghuo

Series A in 2019
Tongcheng Life is a community O2O group purchase service platform. With the community as a unit, it establishes a community sales office and completes offline delivery. The platform provides supply, logistics, storage and after-sales support. It mainly provides primary edible agricultural products, food, daily necessities, flowers and gardening, and crafts. , Beauty products and other services.

Furong Xingsheng

Series A in 2019
Furong Xingsheng, founded in 2009 and based in Changsha, China, operates convenience stores that serve the local community's daily needs. The company has evolved into a community shopping platform known as Xingsheng Youxuan, which was established in 2018. This platform utilizes a hybrid retail model that combines online ordering with offline pick-up, allowing consumers to access a variety of fresh products. The offerings include fresh vegetables, fruits, meat and poultry, seafood, staple foods, seasonings, and other household items. Through its network of convenience stores, Furong Xingsheng aims to provide convenient access to essential goods for consumers in the region.

Dandelion

Series A in 2019
Dandelion's vision is to enable frictionless discovery of content and commerce. In a world where its easy for anyone to be a seller, it should be easy for anyone to be a marketer too. Dandelion provides the platform to storefronts, marketplaces, and their participants to make that happen.

Global Scanner

Series A in 2018
Global Scanner is provider of imported food products.

GardenLis

Angel Round in 2018
GardenLis is a fashion apparel company that focuses on R&D, design, production and sales. Since its establishment, the company has been focusing on the brand “gardenlis”, which produces and sells fashionable large-size women's clothing for people over 25 years old .

Furong Xingsheng

Series A in 2018
Furong Xingsheng, founded in 2009 and based in Changsha, China, operates convenience stores that serve the local community's daily needs. The company has evolved into a community shopping platform known as Xingsheng Youxuan, which was established in 2018. This platform utilizes a hybrid retail model that combines online ordering with offline pick-up, allowing consumers to access a variety of fresh products. The offerings include fresh vegetables, fruits, meat and poultry, seafood, staple foods, seasonings, and other household items. Through its network of convenience stores, Furong Xingsheng aims to provide convenient access to essential goods for consumers in the region.

Nice Tuan

Angel Round in 2018
Nice Tuan is an e-commerce platform that specializes in providing daily groceries and a variety of household products. The company collaborates with local residential communities to source items from nearby warehouses and producers, ensuring a wide selection of fresh produce and essential goods for residents. By focusing on creating a convenient and efficient community e-commerce ecosystem, Nice Tuan aims to enhance the shopping experience for local consumers while supporting local suppliers.

Xiangwushuo

Series B in 2018
Xiangwushuo operates an online platform that enables users to buy and sell unused items, facilitating the effective use of idle consumer goods. Based in Beijing, China, the platform also allows business owners to promote and sell their products online. Users can give away their products by providing information to the platform, while others can acquire these items by paying delivery fees and using reward points known as Little Red Flower. This system not only encourages transactions but also incentivizes user engagement through activities like inviting friends to join. Xiangwushuo thus promotes a circular economy by connecting individuals and businesses in the exchange of goods.

LOOK

Series A in 2018
Fashion discovery and e-commerce platform based in Beijing.

Dahezi

Series A in 2018
Provider of online personal styling services designed to reinvent the shopping experience by delivering one-to-one personalization to clients in China. The company's platform utilizes a combination of data science and human judgement to help clients personalize selections of apparel, shoes, and accessories that fit their style, enabling customers to enjoy a reinvented e-commerce experience with free returns.

Pocket Noir

Series A in 2018
Pocket Noir is a Guangzhou-based retail platform focused on innovative technology hardware products. It offers a diverse selection of high-tech items, including virtual reality headsets, drones, smart cameras, and audio-visual equipment. The platform caters to tech-savvy consumers in urban areas, showcasing premium electronic products from various vendors. In addition to product sales, Pocket Noir accumulates user experience data, which it utilizes to provide valuable insights for brands and advertisers. This approach enhances the overall shopping experience while supporting the promotion of cutting-edge technology.

Haoyihulian

Series B in 2018
Haoyihulian is an apparel retail and clothing supply chain platform.

Fuliaoyi

Series A in 2018
B2B trading platform of clothing accessories In Shanghai,China.

Club Factory

Series C in 2018
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

Pocket Noir

Series A in 2018
Pocket Noir is a Guangzhou-based retail platform focused on innovative technology hardware products. It offers a diverse selection of high-tech items, including virtual reality headsets, drones, smart cameras, and audio-visual equipment. The platform caters to tech-savvy consumers in urban areas, showcasing premium electronic products from various vendors. In addition to product sales, Pocket Noir accumulates user experience data, which it utilizes to provide valuable insights for brands and advertisers. This approach enhances the overall shopping experience while supporting the promotion of cutting-edge technology.

Few Moda

Seed Round in 2017
women's apparel.

Xiangwushuo

Seed Round in 2017
Xiangwushuo operates an online platform that enables users to buy and sell unused items, facilitating the effective use of idle consumer goods. Based in Beijing, China, the platform also allows business owners to promote and sell their products online. Users can give away their products by providing information to the platform, while others can acquire these items by paying delivery fees and using reward points known as Little Red Flower. This system not only encourages transactions but also incentivizes user engagement through activities like inviting friends to join. Xiangwushuo thus promotes a circular economy by connecting individuals and businesses in the exchange of goods.

Citybox

Series A in 2017
Citybox is a smart vending machine operator based in Shanghai, China, established in 2015. The company specializes in manufacturing retail terminals that function as refrigerators equipped with QR code stamps, anti-theft features, and user tracking capabilities. Citybox provides a selection of fresh produce, including yogurt and chilled lunchboxes, targeting various sectors such as offices, residential communities, shopping malls, and schools.

Citybox

Series A in 2017
Citybox is a smart vending machine operator based in Shanghai, China, established in 2015. The company specializes in manufacturing retail terminals that function as refrigerators equipped with QR code stamps, anti-theft features, and user tracking capabilities. Citybox provides a selection of fresh produce, including yogurt and chilled lunchboxes, targeting various sectors such as offices, residential communities, shopping malls, and schools.

Haoyihulian

Series A in 2017
Haoyihulian is an apparel retail and clothing supply chain platform.

Club Factory

Series B in 2017
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

WING CAFE

Angel Round in 2015
Operator of direct chain coffee restaurants, franchise stores, intelligent coffee machines and brand supply chain. The company has nearly 300 offline stores and nearly 4,000 urban smart coffee machines across the country, providing customers with convenient and delicious coffee.

TD Brand

Angel Round in 2015
A one-stop service platform for brands to design, produce, market and sell products to consumers in China.

Vinehoo

Series A in 2012
Operator of an E-commerce platform designed to provide wine products. The company's platform mainly provides and sells various wine products and enables customers to enjoy different wine drinking experience.

Instreet

Angel Round in 2011
Instreet operates as an online platform based in Beijing, China, specializing in picture and video content. Founded by Nan Hu, the company offers a shopping website and an information distribution platform known as Instreet Network. It focuses on delivering interactive picture-based information and in-picture advertising, combining internet advertising with shopping guidance. The platform leverages advanced technologies in object identification and extraction to enhance user experience, particularly in the business-to-consumer sector. By integrating rich media with e-commerce, Instreet facilitates social shopping and personal recommendations, aiming to streamline the online shopping experience for users.

LightInTheBox

Angel Round in 2006
LightInTheBox Holdings Co., Ltd. is a B2C e-commerce website selling a variety of integrated supply chain products. LightInTheBox presently offers commodities for overseas purchase, which are concentrated in three fields: consumer electronics dominated by cell phones and digital products, customized garments and sports equipment, and cultural goods. It completed its acquisition of the 3C e-business website Ouku.com and has a number of suppliers as well as its own data warehouse and long-term logistics partners. Lighinthebox offers over 60,000 kinds of commodities ranging from apparel, fashion accessories, electronics, and home and garden accessories, to sports equipment. After several years of development, LightInTheBox has established a large number of suppliers throughout China, including Guangdong, Shanghai, Zhejiang, Jiangsu, Fujian, Shandong, Beijing and other provinces. Its partners and suppliers include Newman, Patriot, Founder Technology, Yadu, and Shenzhou Computer. LightInTheBox was founded in 2006 with a registered capital of US$3 million, ranking number one domestically among foreign trade websites. It has received several rounds of venture capital funding, totalling US$51.27 million. On June 6, 2013, LightInTheBox was listed on the New York Stock Exchange (NYSE). As of 2012, LightInTheBox serves customers from over 200 countries worldwide, with over 1 million daily foreign visitors and 2 million daily page views. Its major rivals are AliExpress and E-bay.
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