# Hony Capital: portfolio, investments and team

> Hony Capital is a private equity based in China. 11 investments on record, 3 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/hony-capital (Millionrounds; every figure on the page links to its filing or article)

China · [Investor](https://millionrounds.com/investors)

# Hony Capital

Last cheque observed Oct 2026; 11 cheques on record.

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Private equity Deploying now Last fund, Nov 2016

Seed Series A Series B App Marketing Mobile E-commerce

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Deploying now

**100%** of best year **3** **cheques in 12 months**, 11 on record

Since the last cheque **26** days **00** hrs **00** min **00** sec

Median round **$500M** Rounds led **1 of 11** Mostly in **China, 60%**

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## Hony Capital highlights

- 01 3 cheques in the last 12 months
- 02 Mostly Seed and Series A: 57% of its rounds
- 03 Led 1 rounds

## What they do

> Filed 1 private fund offering with the SEC, the most recent in 2016-11 From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** App Marketing Mobile E-commerce
- **Based in:** Beijing, China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **11 appearances**

- **2026** 3 rounds
- **Oct** **[Ola Dimensions](https://millionrounds.com/company/ola-dimensions)** Seed · CN · TechNode **Undisclosed** With 1 other
- **Aug** **[GIM](https://millionrounds.com/company/gim)** Series A · Ventureburn **$20M** *Led*
- **Feb** **[ACE Robotics](https://millionrounds.com/company/ace-robotics)** Seed · CN · TechNode **Undisclosed** With 6 others
- **2019** 1 round
- **Mar** **[STX Entertainment](https://millionrounds.com/company/stx-entertainment)** Debt · US · Latimes **$700M** With 1 other
- **2018** 1 round
- **Jun** **[WeWork China](https://millionrounds.com/company/wework-china)** Series B · US · FinSMEs **$500M** With 3 others
- **2017** 2 rounds
- **Jul** **[WeWork](https://millionrounds.com/company/wework)** US · TechCrunch **$500M** With 1 other
- **Jul** **[Ofo](https://millionrounds.com/company/ofo)** Series E · CN · TechCrunch **$700M** With 3 others
- **2015** 1 round
- **May** **[Tuniu](https://millionrounds.com/company/tuniu)** CN **$500M** With 4 others
- **2014** 1 round
- **Jul** **[Deem](https://millionrounds.com/company/deem)** Series H · US **$50M** With 1 other
- **2013** 1 round
- **Oct** **[PPTV](https://millionrounds.com/company/pptv)** Growth · CN **$420M** With 1 other
- **2010** 1 round
- **Apr** **[Happigo.com](https://millionrounds.com/company/happigo-com)** Series A · CN **$44M** With 2 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **11 named**

CH **Cao Huan Yonggang** Director i Filing they signed

CH **Chuanzhi Huan Liu** Director i Filing they signed

HJ **Huan John Zhao** Director i Form ADV

JH **John Huan Zhao** Director i Filing they signed

LH **Linan Huan Zhu** Director i Filing they signed

MN **Min Ning** Director i Form ADV

PL **Peng Li** Director i Form ADV

SY **Sze Ying Terry Tam** Director i Form ADV

XB **Xiaobin Bao** Director i Form ADV

YC **Yonggang Cao** Director i Form ADV

YH **Yuan Huan Bing** Director i Filing they signed

We also hold **37** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$3.5B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Beijing HONY Qiyuan Enterprise Management Co., LTD
- **SEC number:** CRD 162154

Who backs their funds

## 1 LP on record in Hony Capital's funds

- **Committed:** $125M
- **Funds:** 2
- **Vintages:** 2008 to 2011

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2025.

- [**California State Teachers Retirement System** 2 funds *$125M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Hony Capital Fund V 2011 $75M Hony Capital Fund 2008 2008 $50M

Latest fund on file

**Raised**

a fund in Nov 2016

From its SEC filing. Nothing newer is on file yet.

## The cheque

Seed Series A Series B

Median round joined **$500M** the round, not its cheque

Led 1 of 11 rounds **9%**

- **Sole investor:** Never alone
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Seed said *2*
- Series A said *2*
- Series E *1*
- Debt *1*
- Series H *1*
- Series B said *-*
- Growth said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 2
- [SoftBank BB Corp](https://millionrounds.com/fund/softbank) 2
- [Temasek Holdings](https://millionrounds.com/fund/temasek) 2

**Pitching Hony Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Hony Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Sequoia Capital** VC firm **2** rounds together](https://millionrounds.com/fund/sequoia-capital)[**SoftBank BB Corp** Corporate VC **2** rounds together](https://millionrounds.com/fund/softbank)[**Temasek Holdings** VC firm **2** rounds together](https://millionrounds.com/fund/temasek)

## Recently backed

The latest companies Hony Capital put money into.

[**ACE Robotics** Feb 2026](https://millionrounds.com/company/ace-robotics)[**WeWork** $500M · Jul 2017](https://millionrounds.com/company/wework)[**Ofo** $700M · Jul 2017](https://millionrounds.com/company/ofo)

## Quick answers about Hony Capital

### What does Hony Capital invest in?

Hony Capital invests most often at Seed and Series A (57% of the rounds on record), in sectors such as App Marketing, Mobile and E-commerce.

### How active is Hony Capital?

11 investments on record, 3 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Hony Capital invested in recently?

Its most recent investments on record: Ola Dimensions (Seed, Oct 2026), GIM (Series A, Aug 2026) and ACE Robotics (Seed, Feb 2026).

### How big are Hony Capital's cheques?

The median round it joins is $500M.

### Does Hony Capital lead rounds?

Sometimes: it led 1 of its 11 investments on record (9%).

### Where does Hony Capital invest?

Most of the companies it backs are in China (60%) and the United States (40%).

### Is Hony Capital investing now?

Yes: it is actively investing, with 3 investments in the last 12 months.

### Who does Hony Capital invest alongside?

Most often Sequoia Capital (2 rounds together), SoftBank BB Corp (2 rounds together) and Temasek Holdings (2 rounds together).

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