# Xianghe Capital: portfolio, investments and team > Xianghe Capital is a vc firm based in China. 9 investments on record, latest Jul 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/xianghe-capital (Millionrounds; every figure on the page links to its filing or article) China · [Investor](https://millionrounds.com/investors) # Xianghe Capital Last cheque observed Jul 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Quiet New fund $425M, Sept 2019 VC firm Pre-seed Seed Series A AI Advanced_manufacturing New_energy Cheques on record **0%** of best year **0** **cheques in 12 months**, 9 on record Since the last cheque **474** days **00** hrs **00** min **00** sec Median round **$50M** Rounds led **0 of 9** Sole investor **1 rounds** Mostly in **China, 78%** Pitch Xianghe Capital ## Xianghe Capital highlights - 01 9 rounds on record - 02 Mostly Series B and Seed: 50% of its rounds - 03 Sole investor in 1 rounds, median $15M ## What they do > Xianghe Capital is a venture capital fund focused on early-stage opportunities in fields such as artificial intelligence, advanced manufacturing, new energy, and new materials. Translated from Chinese, from their own website - **Type:** VC firm - **Cheque size:** Not stated - **Stages:** Pre-seed Seed Series A - **Sectors:** AI Advanced_manufacturing New_energy - **Based in:** China - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **9 appearances** - **2025** 1 round - **Jul** **[TARS](https://millionrounds.com/company/tars)** Seed · CN · TechNode **$122M** With 9 others - **2019** 2 rounds - **Oct** **[Yunxi Technology](https://millionrounds.com/company/yunxi-technology)** Series B · CN · DealStreetAsia **$50M** With 1 other - **Feb** **[Lalamove](https://millionrounds.com/company/lalamove)** Series D · HK · TechCrunch **$300M** With 8 others - **2018** 3 rounds - **Mar** **[DataCanvas](https://millionrounds.com/company/datacanvas)** CN · China Money Network **$15M** Sole investor - **Mar** **[Infervision](https://millionrounds.com/company/infervision)** CN · China Money Network **$47M** With 4 others - **Jan** **[Easy Carry](https://millionrounds.com/company/easy-carry)** Series A · CN · China Money Network **$19M** With 2 others - **2017** 3 rounds - **Dec** **[Kuiakan Manhua](https://millionrounds.com/company/kuiakan-manhua)** CN · China Money Network **$177M** With 1 other - **Sept** **[Zuoyebang](https://millionrounds.com/company/zuoyebang)** Series C · CN · FinSMEs **$150M** With 4 others - **Jan** **[Lalamove](https://millionrounds.com/company/lalamove)** Series B · HK · FinSMEs **$30M** With 3 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 **3 named** HT **Hesong Tang** Director and Chief Executive Officer of the Era i Form ADV LY **Liu Yang** Director of the Era i Form ADV WL **Wei Li** General Counsel of the Era i Form ADV We also hold **7** 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 **$1.6B** gross assets of its funds Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** Empower Harvest Management Services, Inc. - **SEC number:** CRD 284291 ## What they claim to have backed From their own portfolio page (on their website) **3** of 41 we have independently watched raise [进入官网](https://millionrounds.com/company/sensors-data)[进入官网](https://millionrounds.com/company/bytedance)[进入官网](https://millionrounds.com/company/yunquna) Yongsy 京ICP备17005206号-1 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 进入官网 Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. New fund on file **$425M** raised in Sept 2019 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Pre-seed Seed Series A Median round joined **$50M** the round, not its cheque Alone, median **$15M** Led 0 of 9 rounds **0%** - **Sole investor:** 1 rounds - **Last cheque:** Jul 2025 Rounds by stage said on their site - Series B *2* - Seed said *1* - Series A said *1* - Series C *1* - Series D *1* - Pre-seed said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 3 - [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) 2 - [Sequoia Capital China](https://millionrounds.com/fund/sequoia-capital-china) 2 **Pitching Xianghe 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 Xianghe Capital. A count of rooms they were both in, not a relationship either has claimed. [**Sequoia Capital** VC firm **3** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Qiming Venture Partners** VC firm **2** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Sequoia Capital China** VC firm **2** rounds together](https://millionrounds.com/fund/sequoia-capital-china) ## Recently backed The latest companies Xianghe Capital put money into. [**Lalamove** $300M · Feb 2019](https://millionrounds.com/company/lalamove)[**DataCanvas** $15M · Mar 2018](https://millionrounds.com/company/datacanvas) ## Quick answers about Xianghe Capital ### What does Xianghe Capital invest in? Xianghe Capital invests most often at Series B and Seed (50% of the rounds on record), in sectors such as AI, Advanced_manufacturing and New_energy. ### How active is Xianghe Capital? 9 investments on record, 0 of them in the last 12 months. The most recent was in Jul 2025. ### What has Xianghe Capital invested in recently? Its most recent investments on record: TARS (Seed, Jul 2025), Yunxi Technology (Series B, Oct 2019) and Lalamove (Series D, Feb 2019). ### How big are Xianghe Capital's cheques? The median round it joins is $50M. ### Does Xianghe Capital lead rounds? Rarely, if at all: none of its 9 investments on record names it as the lead. ### Where does Xianghe Capital invest? Most of the companies it backs are in China (78%) and Hong Kong SAR China (22%). ### Is Xianghe Capital investing now? No investments in the last 12 months; the latest was in Jul 2025. ### Who does Xianghe Capital invest alongside? Most often Sequoia Capital (3 rounds together), Qiming Venture Partners (2 rounds together) and Sequoia Capital China (2 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. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=xianghe-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=xianghe-capital)