ZhenFund

ActiveVenture Capital

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Updated: Jan 22, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Mar 1, 2024	Innoviti	$14.0M Series E	—	Abstract Ventures, Accel, Alumni Ventures, Andreessen Horowitz, Atomic, Bessemer Venture Partners, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Sep 1, 2023	ImpriMed	$28.0M Series A	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Marc Benioff, Othman Laraki
May 1, 2023	Lifeforce	$12.0M Series A	—	AirAngels, Bold Capital Partners, Footprint Coalition, Lead Edge Capital, Lever VC, M13, Mucker Capital, Next Ventures, Picus Capital, Seaside Ventures, Sequoia Capital, Serena Ventures, TechSquare Labs, Vast Ventures, Willow Growth Partners LP, Ron Pragides, Scott Belsky
Sep 1, 2022	Meliora Therapeutics	$11.0M Seed	—	Data Tech Fund, HOF Capital, Lightspeed Venture Partners, Pebblebed, Jeremy Yap, Nick Caldwell, Scott Belsky, Spencer Kimball
May 1, 2022	Osmind	$40.0M Series B	—	11, 2xN, Abstract Ventures, Kevin Hartz, Accel, Addition, Alumni Ventures, Amplo, Andreessen Horowitz, Angel investor, Atomic, Audrey Capital, Avalon Ventures, Catalio Capital, Craft Ventures, DFJ Growth, Dimension Capital, Dreamers VC, DST Global, Electric Capital, Founder Collective, Founders Fund, General Catalyst, Haun Ventures, Highbury Group, IA Ventures, ICONIQ Capital, In-Q-Tel, Interlock Partners, Jetstream, Khosla Ventures, LGF, Long Journey Ventures, Lux Capital, Maveron, Menlo Ventures, NewFund, Paradox Capital, Primer Sazze Partners, Quiet Capital, Sequoia Capital, Sonder Capital, Sound Ventures, Susa Ventures, The Hit Forge, Thirty Five Ventures, Ulu Ventures, Union Square Ventures, What If Ventures, WndrCo LLC, XStarPartners, Y Combinator, Adrian Aoun, Amjad Masad, Anna Yuan, Anne Wojcicki, Brad Bao, Bradley Horowitz, David Mytton, Eric Ries, Guillaume Lestrade, Jared Leto, Jeffrey Lee, Joshua Reeves, Julie Zhuo, Kevin Weil, Marc Benioff, Mike Krieger, Odell Beckham Jr., Oleg Rogynskyy, Omar El-Ayat, Othman Laraki, Sam Altman, Tobias Lutke, Tony Xu, Young Song
Apr 1, 2022	Evernow	$29.0M Series A	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Angel investor, Jana Messerschmidt, Atomic, Banana Capital, Beringea, Big Idea Ventures, BoxGroup, Coelius Capital, Collide Capital, Craft Ventures, DFJ Growth, DST Global, Evolution VC Partners, First Round Capital, Forerunner Ventures, Frontline Ventures, General Catalyst, Gutter Capital, Inspired Capital, Khosla Ventures, Listen, Mayfield, Menlo Ventures, Moving Capital, New Enterprise Associates, Pioneer Fund, Point Nine Capital, Polychain Capital, QueensBridge Venture Partners, Quiet Capital, Republic Records, SOSV, Sweet Capital, Turing Capital, Volition Capital, YLEM, Aaron Harris, Charles Huang, Demetrios Christofidis Jr, Eric Ries, Harry Hurst, Jason Stockwood, Jeffrey Lee, Jen Rubio Butterfield, Josh Mohrer, Josh Resnick, Kristian Segerstrale, Leonard Picardo, Marc Benioff, Nick Jonas, Ning Sung, Rashaun Williams, Stephan Thoma, Steve Aoki, Steve Chen
Dec 1, 2021	NextVivo	$8.0M Seed	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Aug 1, 2021	Kojo	$33.0M Series B	—	Abstract Ventures, A* Capital (A Star Capital), Alchemy Ventures, Altos Ventures, Alumni Ventures, AME Cloud Ventures, Andreessen Horowitz, Atomic, Cedar Capital Group, DFJ Growth, DST Global, Energize Ventures, Flex Capital, Footwork, General Catalyst, Gradient Ventures, Greylock, Hardware Club, Insight Partners, InterWest, Khosla Ventures, Luno Expeditions, Menlo Ventures, Nine Four Ventures, Pareto Holdings, Quiet Capital, Redstone Road LLC, Slack Fund, Techstars, Akshay Kothari, Allison Pickens (Allison Pickens Ventures), Dylan Field, Ed Baker, Eric Ries, Jeffrey Lee, Jeff Seibert, Julia Hartz, Marc Benioff, Othman Laraki, Scott Belsky, Wayne Chang
Mar 1, 2021	CellX	$4.0M Seed	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Mar 1, 2021	BigBites	$14.0M Series A	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Mar 1, 2021	Riva Health	$16.0M Seed	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Jan 1, 2021	Usermind	$14.0M Series C	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Propeller VC, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Oct 1, 2020	Kojo	$7.0M Series A	—	Abstract Ventures, A* Capital (A Star Capital), Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, Energize Ventures, Flex Capital, Footwork, General Catalyst, Gradient Ventures, Greylock, InterWest, Khosla Ventures, Menlo Ventures, Quiet Capital, Techstars, Akshay Kothari, Allison Pickens (Allison Pickens Ventures), Dylan Field, Ed Baker, Eric Ries, Jeffrey Lee, Julia Hartz, Marc Benioff, Othman Laraki, Scott Belsky
Feb 1, 2020	Reddit	$370.0M Series E	—	Partners Resolute, Serena Ventures, Carmelo Anthony (Melo7 Tech Partners), Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, CRV, DFJ Growth, DST Global, Eric Ries, Founders Circle Capital, General Catalyst, Global Innovation Fund, Jeffrey Lee, Khosla Ventures, Kleiner Perkins, Marc Benioff, Menlo Ventures, Othman Laraki, Pear VC, Quiet Capital, Sequoia Capital, Softbank Group, Streamlined Ventures, Y Combinator
Feb 1, 2020	Strattic	$7.0M Seed	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, Compound, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Northpond Ventures, Quiet Capital, Refactor Capital, Sandbox Industries, Team Builder Ventures, Tencent Holdings, UpHonest Capital, Jeffrey Lee, Marc Benioff, Othman Laraki
Dec 1, 2019	BigBites	$1.0M Seed	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Khosla Ventures, Menlo Ventures, Quiet Capital, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Nov 1, 2019	Remrise	$8.0M Seed	—	Abstract Ventures, Alumni Ventures, AME Cloud Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, Hardware Club, Khosla Ventures, LGF, Menlo Ventures, Quiet Capital, Sherpalo Ventures, SNR, Y Combinator, Claire Hughes Johnson, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki, Scott Belsky
Jun 1, 2019	Helium	$15.0M Series C	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, B Capital Group, Gabriel Ruimy, Blueberry Ventures, Brkfst Club, DFJ Growth, DST Global, Eclipse Ventures, Expa, FirstMark Capital, First Round Capital, General Catalyst, Joe Kraus, GV, Insight Partners, Khosla Ventures, Left Lane Capital, Menlo Ventures, Munich Re / HSB Ventures, Okta Ventures, OurCrowd, Qualcomm Ventures, Quiet Capital, Redpoint Ventures, S2G Ventures, Uncork Capital, Matt Garratt, Balaji Srinivasan, Eric Ries, Jeffrey Lee, Jevon MacDonald, Mark Pincus, Mike Krieger, Moshe Lifschitz, Noah Pickholtz, Othman Laraki, Sundeep Madra, Tim Jurka
Feb 1, 2019	Reddit	$300.0M Series D	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, Baukunst, Craft Ventures, CRV, DFJ Growth, DST Global, Jenny Fielding, Scott Hartley, Founders Circle Capital, General Catalyst, Global Innovation Fund, Helium-3 Ventures, Infinite Niches, Javelin Venture Partners, Khosla Ventures, Kleiner Perkins, Lux Capital, Menlo Ventures, Rick Yang, Pear VC, Quiet Capital, Sequoia Capital, Softbank Group, Streamlined Ventures, Y Combinator, Alex Pattis, David Rogier, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Dec 1, 2018	Relay Therapeutics	$400.0M Series C	—	Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, DFJ Growth, DST Global, General Catalyst, GV, Khosla Ventures, Kleiner Perkins, Menlo Ventures, Quiet Capital, Bill Gates, Eric Ries, Jeffrey Lee, Marc Benioff, Othman Laraki
Oct 1, 2018	Kojo	$4.0M Seed	—	Abstract Ventures, A* Capital (A Star Capital), Alumni Ventures, Andreessen Horowitz, Atomic, Cantos Ventures, Chemistry VC, DFJ Growth, DST Global, Energize Ventures, Flex Capital, Footwork, General Catalyst, Gradient Ventures, Greylock, InterWest, Khosla Ventures, Menlo Ventures, Quiet Capital, Stellar Capital, Techstars, The Longevity Fund, Adrian Aoun, Akshay Kothari, Allison Pickens (Allison Pickens Ventures), Charlie Songhurst, Dylan Field, Ed Baker, Eric Ries, Jeffrey Lee, Julia Hartz, Marc Benioff, Othman Laraki, Scott Belsky
Sep 1, 2018	Earli	$20.0M Seed	—	01 Advisors, Accel, ACME Capital, Alsop Louie Partners, Altimeter Capital, Andreessen Horowitz, ARCH Venture Partners, Atomic, Benchmark, Better Tomorrow Ventures, Bond, Craft Ventures, Dragoneer Investment Group, First Round Capital, Founder Collective, Founders Fund, Four Rivers Group, G20 Ventures, General Atlantic, General Catalyst, Greylock, Dave Munichiello, David Schenkein, M.G. Siegler, GV (Google Ventures), Harrison Metal, Highbury Group, Index Ventures, IVP, Kapor Capital, Kleiner Perkins, Lead Edge Capital, Menlo Ventures, Meritech Capital Partners, Musha Ventures, Next Play Ventures, Hans Tung, Pareto Holdings, Prefix Capital, Quiet Capital, Race Capital, SciFi VC, Shasta Ventures, SignalFire, Slow Ventures, South Park Commons, Spark Capital, SV Angel, TCV, Techstars, Tribe Capital, Trust Ventures, UpHonest Capital, Venrock, Adam D'Angelo, Ameet Ranadive, Biz Stone, Bradley Horowitz, David Jeske, Dustin Moskovitz, Halle Tecco, Jed Stremel, Jeff Seibert, Jeremy Stoppelman, John Collison, Jonathan Bush, Justin Rosenstein, Kevin Weil, Matt Mazzeo, Megan Quinn, MG Siegler, Richard Branson, Rob Solomon, Roger McNamee, Sam Altman, Shervin Pishevar, Steven Alan
Mar 1, 2018	Rebbeca Med	$2.0M Series A	—	ACME Capital, ENIAC Ventures, LAUNCH, Tekton Ventures, Justin Mateen, Richard Branson, Shervin Pishevar
Jan 1, 2018	Usermind	$24.0M Series C	—	2048 Ventures, Abstract Ventures, Alumni Ventures, Andreessen Horowitz, Atomic, Authentic Ventures, BoxGroup, Chemistry VC, Citi Ventures, Company Capital, CRV, DFJ Growth, DST Global, Gaingels, General Catalyst, Hanabi Capital, Khosla Ventures, Menlo Ventures, Propeller VC, Quiet Capital, RRE Ventures, RTP Ventures, Saga, Sequoia Capital, South Park Commons, Stellar Capital, Third Prime, Yext, Adam D'Angelo, Alex Adelman, Alexander Sacerdote, Clark Landry, Drew Houston, Eric Ries, Frederic Kerrest, Jeff Bezos, Jeffrey Lee, John Collison, Joshua Reeves, Marc Benioff, Othman Laraki, Tien Tzuo
Sep 1, 2017	Lagou	$120.0M Series D	—	Lightspeed China Partners, Meituan, Qiming Venture Partners

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at ZhenFund.

Leadership Team

Key people at ZhenFund.

Deep Dive

High-Level Overview

ZhenFund is a leading China-based venture capital firm specializing in seed and early-stage investments. Founded in 2011, it focuses on backing innovative startups primarily in sectors such as internet services, technology, artificial intelligence, corporate services, healthcare, education, fintech, and consumer goods. The firm is known for its founder-first investment philosophy, providing not only capital but also mentorship and operational support to help entrepreneurs scale their businesses. ZhenFund has played a pivotal role in nurturing China’s startup ecosystem, with a portfolio exceeding 750 companies, including notable names like VIPKid, Xiaohongshu (RED), and Mobvoi[1][2][3].

Origin Story

ZhenFund was established in 2011 by Bob (Xiaoping) Xu and Victor (Qiang) Wang, co-founders of New Oriental, one of China’s largest education conglomerates. Initially, it began as a personal investment vehicle for the duo in 2007 before evolving into a formal venture capital firm in partnership with Sequoia Capital China. Anna Fang joined shortly after as a founding partner. The founders leveraged their entrepreneurial experience and network to build a firm focused on early-stage investments, aiming to empower young entrepreneurs and foster innovation across multiple industries[1][2][3].

Core Differentiators

Unique Investment Model: Focuses on seed and angel-stage investments with a founder-first approach, emphasizing mentorship alongside funding.
Network Strength: Strong ties with Sequoia Capital China and a broad portfolio network of over 800 companies, including more than 30 unicorns.
Track Record: Early investor in high-profile startups such as VIPKid, Xiaohongshu, Mobvoi, and Ofo, demonstrating a keen eye for disruptive innovation.
Operating Support: Provides extensive operational guidance, educational programs (e.g., ZhenResidence “Mini Business School”), and community-building initiatives like hackathons and university startup series.
Global Reach: While headquartered in Beijing, ZhenFund maintains offices in Shanghai and Shenzhen and has an active investment presence in Silicon Valley, facilitating cross-border entrepreneurial support[1][2][7].

Role in the Broader Tech Landscape

ZhenFund rides the wave of China’s rapid digital transformation and entrepreneurial boom, capitalizing on market forces such as increasing internet penetration, AI adoption, and consumer tech innovation. Its timing is critical as China’s startup ecosystem matures, requiring early-stage capital and strategic support to scale disruptive technologies domestically and internationally. By focusing on seed-stage investments, ZhenFund fills a vital gap in the venture capital landscape, enabling nascent companies to grow and influence sectors like education technology, fintech, healthcare, and AI. Its influence extends beyond funding, shaping the ecosystem through educational programs and fostering a culture of innovation among young founders[1][2][4].

Quick Take & Future Outlook

Looking ahead, ZhenFund is poised to deepen its impact by continuing to back frontier technologies such as generative AI and expanding its support infrastructure for startups. Trends like AI, enterprise software, and healthcare innovation will likely shape its investment focus. The firm’s commitment to founder empowerment and ecosystem development suggests it will remain a key catalyst in China’s venture capital scene, potentially increasing its global footprint. As the startup environment evolves, ZhenFund’s blend of capital, mentorship, and community engagement positions it to sustain its leadership in early-stage investing and innovation facilitation[7][2].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Focuses on seed and angel-stage investments with a founder-first approach, emphasizing mentorship alongside funding.
Network Strength: Strong ties with Sequoia Capital China and a broad portfolio network of over 800 companies, including more than 30 unicorns.
Track Record: Early investor in high-profile startups such as VIPKid, Xiaohongshu, Mobvoi, and Ofo, demonstrating a keen eye for disruptive innovation.
Operating Support: Provides extensive operational guidance, educational programs (e.g., ZhenResidence “Mini Business School”), and community-building initiatives like hackathons and university startup series.
Global Reach: While headquartered in Beijing, ZhenFund maintains offices in Shanghai and Shenzhen and has an active investment presence in Silicon Valley, facilitating cross-border entrepreneurial support[1][2][7].