# QF Capital: portfolio, investments and team > QF Capital is a vc firm. 86 investments on record, 2 in the last 12 months, latest Mar 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/qf-capital (Millionrounds; every figure on the page links to its filing or article) [Investor](https://millionrounds.com/investors) # QF Capital Last cheque observed Mar 2026; 86 cheques on record. Deploying now VC firm Series A Venture Series B Logistics E-commerce Deploying now **25%** of best year **2** **cheques in 12 months**, 86 on record Since the last cheque **239** days **00** hrs **00** min **00** sec Median round **$3.0M** Rounds led **0 of 86** Sole investor **49 rounds** Mostly in **China, 80%** Pitch QF Capital ## QF Capital highlights - 01 2 cheques in the last 12 months - 02 Mostly Series A and Venture: 59% of its rounds - 03 Sole investor in 49 rounds, median $1.6M ## What they do - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Logistics E-commerce - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **86 appearances** - **2026** 2 rounds - **Mar** **[Dawa Technology](https://millionrounds.com/company/dawa-technology)** Seed **$15M** Sole investor - **Jan** **[KungFu Robotics](https://millionrounds.com/company/kungfu-robotics)** Venture **Undisclosed** Sole investor - **2025** 6 rounds - **Aug** **[Traverser](https://millionrounds.com/company/traverser)** Venture **Undisclosed** With 1 other - **Jul** **[Pinpianyi](https://millionrounds.com/company/pinpianyi)** Venture **Undisclosed** With 1 other - **Jun** **[Hangrun Aviation](https://millionrounds.com/company/hangrun-aviation)** Venture **Undisclosed** With 2 others - **Jun** **[Shanmu SHANMU](https://millionrounds.com/company/shanmu-shanmu)** Venture **Undisclosed** With 1 other - **Jun** **[Kuaizi Technology](https://millionrounds.com/company/kuaizi-technology)** Series B **$7.0M** With 1 other - **Apr** **[Qianhai Yueshi Information Technology](https://millionrounds.com/company/qianhai-yueshi-information-technology)** Venture **Undisclosed** Sole investor - **2024** 2 rounds - **Mar** **[Bi.social](https://millionrounds.com/company/bi-social)** Seed **$3.0M** Sole investor - **Feb** **[ZaoMeng Technology](https://millionrounds.com/company/zaomeng-technology)** Seed **$1.4M** Sole investor - **2023** 2 rounds - **Apr** **[Beijing GreenValley Technology](https://millionrounds.com/company/beijing-greenvalley-technology)** Venture **Undisclosed** Sole investor - **Mar** **[Jinmen Caijing](https://millionrounds.com/company/jinmen-caijing)** **$18M** Sole investor - **2022** 6 rounds - **Oct** **[Play Secret](https://millionrounds.com/company/play-secret)** Series A **$3.6M** With 1 other - **Aug** **[KOKOLU](https://millionrounds.com/company/kokolu)** Seed · US **$5.0M** With 1 other - **Jun** **[Yiwise](https://millionrounds.com/company/yiwise)** Venture **Undisclosed** With 4 others - **Jun** **[Ehomepoct](https://millionrounds.com/company/ehomepoct)** Venture **Undisclosed** With 1 other - **Mar** **[SwitchBot](https://millionrounds.com/company/switchbot)** Venture **Undisclosed** With 2 others - **Jan** **[Lanseral](https://millionrounds.com/company/lanseral)** Venture **Undisclosed** With 1 other - **2021** 4 rounds - **Dec** **[Xbed](https://millionrounds.com/company/xbed)** Venture **Undisclosed** With 2 others - **Nov** **[UUPaotui](https://millionrounds.com/company/uupaotui)** Venture **Undisclosed** Sole investor - **Oct** **[LaiHua](https://millionrounds.com/company/laihua)** Series C **$42M** With 3 others - **Jul** **[pidan](https://millionrounds.com/company/pidan)** Series B **$7.7M** With 1 other - **2020** 5 rounds - **May** **[Pop Mart](https://millionrounds.com/company/pop-mart)** Growth **$100M** With 1 other - **Mar** **[ivva](https://millionrounds.com/company/ivva)** Series A **$1.4M** Sole investor - **Mar** **[PrecisioNext](https://millionrounds.com/company/precisionext)** Series B **$5.6M** With 2 others - **Mar** **[Fenlai](https://millionrounds.com/company/fenlai)** Venture **Undisclosed** Sole investor - **Jan** **[Creams](https://millionrounds.com/company/creams)** Venture **Undisclosed** With 3 others - **2019** 10 rounds - **Dec** **[Kuaijin Data](https://millionrounds.com/company/kuaijin-data)** Series B **$2.9M** With 1 other - **Aug** **[Yungehuo](https://millionrounds.com/company/yungehuo)** Venture **Undisclosed** With 3 others - **Jul** **[Seichitech](https://millionrounds.com/company/seichitech)** Series C **$2.9M** With 3 others - **Jul** **[Chuman](https://millionrounds.com/company/chuman)** Series B **$8.7M** With 4 others - **Apr** **[Little Monster Innovation Education](https://millionrounds.com/company/little-monster-innovation-education)** Pre-seed **$741K** Sole investor - **Mar** **[Xiao ZeMa Technology](https://millionrounds.com/company/xiao-zema-technology)** Series A · CN · Voice **$5.5M** With 2 others - **Mar** **[Fanlai Tech](https://millionrounds.com/company/fanlai-tech)** Venture **$1.4M** With 2 others - **Jan** **[TrustKernel](https://millionrounds.com/company/trustkernel)** CN · China Money Network **$3.0M** Sole investor - **Jan** **[AIC Monitor](https://millionrounds.com/company/aic-monitor)** Series A · CN · China Money Network **$3.0M** With 1 other - **Jan** **[Arryvemobile](https://millionrounds.com/company/arryvemobile)** Series A **$3.0M** Sole investor - **2018** 17 rounds - **Dec** **[BUGX.IO](https://millionrounds.com/company/bugx-io)** Pre-seed **$1.5M** Sole investor - **Nov** **[Metalab](https://millionrounds.com/company/metalab)** Series C **$4.3M** Sole investor - **Sept** **[Pinpianyi](https://millionrounds.com/company/pinpianyi)** Series A · CN · China Money Network **$15M** Sole investor 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 cheque Series A Venture Series B Median round joined **$3.0M** the round, not its cheque Alone, median **$1.6M** Led 0 of 86 rounds **0%** - **Sole investor:** 49 rounds - **Last cheque:** Mar 2026 Rounds by stage said on their site - Series A *29* - Venture *19* - Series B *14* - Pre-seed *8* - Seed *7* - Series C *4* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Cowin Capital](https://millionrounds.com/fund/cowin-venture-capital) 5 - [GSR](https://millionrounds.com/fund/gsr) 3 - [HSG](https://millionrounds.com/fund/hsg) 3 - [IDG Capital](https://millionrounds.com/fund/idg-capital) 3 - [CDH Investments](https://millionrounds.com/fund/cdh-investments) 2 - [CICC](https://millionrounds.com/fund/cicc) 2 **Pitching QF Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as QF Capital. A count of rooms they were both in, not a relationship either has claimed. [**Cowin Capital** VC firm **5** rounds together](https://millionrounds.com/fund/cowin-venture-capital)[**GSR** VC firm **3** rounds together](https://millionrounds.com/fund/gsr)[**HSG** VC firm **3** rounds together](https://millionrounds.com/fund/hsg)[**IDG Capital** Private equity **3** rounds together](https://millionrounds.com/fund/idg-capital)[**CDH Investments** Private equity **2** rounds together](https://millionrounds.com/fund/cdh-investments)[**CICC** Investment bank **2** rounds together](https://millionrounds.com/fund/cicc)[**GF Xinde Investment Management** VC firm **2** rounds together](https://millionrounds.com/fund/gf-xinde-investment-management)[**GSR United Capital** VC firm **2** rounds together](https://millionrounds.com/fund/gsr-united-capital)[**Green Pine Capital** VC firm **2** rounds together](https://millionrounds.com/fund/green-pine-capital-partners)[**Legend Star** VC firm **2** rounds together](https://millionrounds.com/fund/legend-star)[**Oriental Fortune Capital** VC firm **2** rounds together](https://millionrounds.com/fund/oriental-fortune-capital)[**Puhua Capital** VC firm **2** rounds together](https://millionrounds.com/fund/puhua-capital) ## Recently backed The latest companies QF Capital put money into. [**Kuaizi Technology** $7.0M · Jun 2025](https://millionrounds.com/company/kuaizi-technology)[**KOKOLU** $5.0M · Aug 2022](https://millionrounds.com/company/kokolu)[**SwitchBot** Mar 2022](https://millionrounds.com/company/switchbot)[**pidan** $7.7M · Jul 2021](https://millionrounds.com/company/pidan)[**Seichitech** $2.9M · Jul 2019](https://millionrounds.com/company/seichitech)[**Metalab** $4.3M · Nov 2018](https://millionrounds.com/company/metalab) ## Quick answers about QF Capital ### What does QF Capital invest in? QF Capital invests most often at Series A and Venture (59% of the rounds on record), in sectors such as Logistics and E-commerce. ### How active is QF Capital? 86 investments on record, 2 of them in the last 12 months. The most recent was in Mar 2026. ### What has QF Capital invested in recently? Its most recent investments on record: Dawa Technology (Seed, Mar 2026), KungFu Robotics (Venture, Jan 2026) and Traverser (Venture, Aug 2025). ### How big are QF Capital's cheques? The median round it joins is $3.0M. ### Does QF Capital lead rounds? Rarely, if at all: none of its 86 investments on record names it as the lead. ### Where does QF Capital invest? Most of the companies it backs are in China (80%) and the United States (20%). ### Is QF Capital investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does QF Capital invest alongside? Most often Cowin Capital (5 rounds together), GSR (3 rounds together) and HSG (3 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. 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