Zizhu Xiaomiao Langcheng Fund

Fund Overview

Shanghai Xiaomiao Langcheng Investment Management Co., Ltd., established in 2017, is a VC investment management platform under the Zizhu Hi-Tech Park Xiaomiao Fund (controlled by Zijiang Group) in partnership with Langcheng Capital, specializing in early-to-mid-stage technology investments with a "discover value + service-added value" model.

Xiaomiao Langcheng is among the earliest domestic institutions focused on investing in next-generation information technology, intelligent technology applications, and frontier technology. Its investment focus centers on new-quality productive forces in AABCI sectors: AI (Artificial Intelligence), Advanced Manufacturing, Big Data, Cloud Computing, and IoT/Intelligent Manufacturing.

The fund manages RMB 1–2 billion in total AUM, with over 90 cumulative investments. More than 10 portfolio companies have achieved IPO listings, and nearly 10 have exited through M&A. Xiaomiao Langcheng has been consecutively recognized among 36Kr's "Top 50 Early-Stage Investment Institutions in China's Equity Investment Industry" and Zero2IPO's "Top 30 Early-Stage Investment Institutions in China."

Founder's Participation

Managed Funds

Xiaomiao Langcheng currently manages multiple venture capital funds under the "Zizhu Xiaomiao" brand:

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  Shanghai Zizhu Xiaomiao Langxin Venture Capital Partnership (Limited Partnership) An early-stage venture fund managed by Xiaomiao Langcheng, focused on early-to-mid-stage investments in next-generation information technology and intelligent technology applications. The Hotcan founder participates as LP and Investment Committee member.
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  Shanghai Zizhu Xiaomiao Langrui Venture Capital Partnership (Limited Partnership) The third private equity fund launched in October 2021, continuing Xiaomiao Langcheng's investment strategy in hard technology and advanced manufacturing. The Hotcan founder participates as LP and Investment Committee member.
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  Shanghai Zizhu Xiaomiao Langchu Venture Capital Partnership (Limited Partnership) Focused on earlier-stage technology startup investments.
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  Shanghai Zizhu Xiaomiao Langkun Venture Capital Partnership (Limited Partnership) A newly established fund under Xiaomiao Langcheng, continuing to expand the technology venture capital portfolio.
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  Nantong SJTU Future Xiaomiao Venture Capital Partnership (Limited Partnership) A technology innovation fund co-established with Shanghai Jiao Tong University, with an initial scale of RMB 100 million, leveraging SJTU's research achievements for commercialization.

Investment Focus Areas

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  Artificial Intelligence Large language models, embodied intelligence, intelligent robotics, AI applications, and other frontier AI domains.
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  Advanced Manufacturing & Semiconductors Precision manufacturing, semiconductor equipment and materials, industrial robotics, intelligent manufacturing, and other hard technology sectors.
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  Cloud Computing & Enterprise Services Cloud-native, SaaS platforms, big data analytics, enterprise software, and other IT infrastructure.
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  New Energy & Smart Energy Energy storage technology, new energy materials, carbon neutrality digitalization, energy internet, and more.
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  Healthcare Medical devices, biotechnology, smart healthcare, and other health technology sectors.

Representative Portfolio Cases

Xiaomiao Langcheng has invested in over 90 technology companies across stages from angel to growth, with representative cases including:

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  ZStack A domestic cloud computing infrastructure provider offering private cloud, hybrid cloud, and cloud-native products.
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  CloudPense A business-finance integrated SaaS platform serving 300+ mid-to-large enterprises. Xiaomiao Langcheng led the Series B round.
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  Westlake Robotics An embodied intelligence company that completed an Angel+ round of over RMB 100 million, accelerating commercial deployment.
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  Youye Technology An industrial intelligence platform, with Tencent Industrial Ecosystem Investment and Xiaomiao Langcheng jointly leading a strategic funding round of nearly RMB 100 million.
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  More Companies Saizhuo Electronics, Boxin Robotics, Shenqin Technology, Feiwei Information, and over 50 other technology companies, with 10+ having achieved IPO listings.

Core Team

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  Li Yu — Founding Managing Partner With over RMB 6 billion in fundraising experience, recognized multiple times by ChinaVenture as "China's Best Early-Stage Investor." Successfully invested in listed companies including COAE Intelligence, Soto Development, and USTC Innovation.
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  Yang Haizhong — Partner Master's degree from Shanghai University of Finance and Economics, with deep expertise in technology investment.

Awards & Recognition

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  36Kr "Top 50 Early-Stage Investment Institutions in China's Equity Investment Industry" Consecutively selected for multiple years, demonstrating leading position in early-stage technology investment.
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  Zero2IPO "2024 Top 30 Early-Stage Investment Institutions in China" Recognized as a top-tier institution in China's early-stage investment landscape.
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  Zero2IPO "Top 30 Advanced Manufacturing Investment Institutions in China" Investment capabilities in hard technology and advanced manufacturing recognized by the industry.
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  36Kr "Most Entrepreneur-Friendly Early-Stage Investment Institution" Widely recognized by entrepreneurs for its outstanding post-investment services and value-added capabilities.