Sector portfolio · VC firm · China

ZhenFund's Internet portfolio

ZhenFund has backed 11 Internet startups in rounds we track, $420M between them, shown by the stage each has reached. The best-funded is Club Factory.

11startups backed
3stages
$420Mraised between them
Series Bbiggest stage

ZhenFund's whole portfolioZhenFund's profile

Series B

6

Pre-seed and seed

3

Series A

2

Segment by segment

Series B

6 startups · $291M raised

  1. TOGOTogo ayuda a restaurantes, tiendas, minimarkets y comercios a automatizar la atención y gestionar pedidos mediante WhatsApp.China$90M
  2. TGThe Good StuffChina$70M
  3. XXiangwushuoXiangwushuo is an online platform intended to offer services related to second-hand goods sharing.China$65M
  4. FWFerris Wheel TicketingChina$40M
  5. ErgengEr Geng is a Chinese media startup.China$19M
  6. TalkrayWe are a rapidly growing company that is building the next generation of communication software.United States$7.4M

Pre-seed and seed

3 startups · $8.4M raised

  1. BFBoom FantasyUnited States$6.5M
  2. HyperknowA HYPERKNOW é uma invocação disruptiva, uma plataforma revolucionaria, que não deve ser entendida como um site de vídeos, mas uma United States$1.0M
  3. VFine MusicVFine Music is a digital music copyright commercial distribution platform based in Beijing, founded in 2015.China$897K

Series A

2 startups · $121M raised

  1. XXiaoquleXiaoqule is an e-commerce platform that offers apparels, footwear, beauty products, mobile phones, and computer accessories.China$108M
  2. KapwingKapwing is a cloud-native video creation and editing platform based in San Francisco, founded in 2017 by Julia Enthoven and Eric LUnited States$13M

How this map is made. Every startup here works in Internet and has raised money in a round we track that names ZhenFund as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.

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Sector portfolioZhenFund's AI portfolio21 startups · $1.9BSector portfolioZhenFund's Edtech portfolio15 startups · $256MSector portfolioZhenFund's Consumer Apps portfolio12 startups · $309MPortfolio mapZhenFund portfolio map117 startups · $4.8BCo-investorsWho invests with ZhenFund71 co-investorsInvestments abroadZhenFund's investments in the United States32 startups · $491M

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