# Top 50 Photography VC (Venture Capital) Funds in Asia in October 2023

## Quest Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: E-Commerce, Software, Marketplace

Quest Ventures is a top venture capital firm in Asia. For entrepreneurs: venture capital. For enterprises: applied innovation. For ecosystems: accelerate.

## BEENEXT
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, E-Commerce, FinTech

BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT aims to establish aplatform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has
invested in over 180 companies globally.

## IDG Capital
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 2
- Stages: Series A, Series B, Series C
- Focus: Software, Internet, E-Commerce

IDG Capital is an investment firm that funds early- to growth-stage companies in the technology sector. Today they work with private equity and venture capital fund managers, investment advisors, and business entities from around the world. Their limited partners include many internationally reputable investors, including sovereign wealth funds,pension funds, institutional investors, major charities, university endowments, family offices, and business luminaries.IDG Capital brings a powerful combination of global perspective and local experience to investment management. As long-term value investors, they are highly skilled at mobilizing global resources to address local needs, especially for Inbound and outbound opportunities in China and the rest of Asia. Their highly skilled team has an in-depth understanding of the Chinese market and enjoys close relationships with many influential business leaders.

## Share Capital
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 2
- Stages: Series A, Series B, Angel
- Focus: Medical, Health Care, Biotechnology

Share Capital is a venture capital firm specializing in seed, start-up, early, middle, growth capital, and Pre-IPO investments. it primarily invests in big living, medical healthcare, and internet innovation. In medical healthcare, it seeks to invests in pharmaceuticals, innovative equipment, biotechnology, diagnostic testing equipment andreagents, anti-infectives, drug discovery, medical health service, mobile medical services, and informatization.

## Semir Garment
- Type: VC Fund
- Location: Wenzhou, Zhejiang, China
- Relevant deals: 2
- Stages: Series C, Angel, Series A
- Focus: E-Commerce, Internet, Food and Beverage

Zhejiang Semir Garment is a Wenzhou-based local apparel company with two leading casual wear brands, Semir for young casual wear & Balabala for kidswear.Semir opened its first store in 1997 in Jiangsu Province, selling leisurewear. Semir is now one of China's largest clothing retailers, with more than 7,500 stores.Semir ownsBalabala, which is China's leading children's clothing brand.

## Skystar Capital
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: E-Commerce, Financial Services, FinTech

We are Skystar Capital, an early-stage VC firm committed to supporting tech entrepreneurs to create a lasting and profound positive difference in Southeast Asia and Indonesia.

## Chiratae Ventures
- Type: VC Fund
- Location: Bangalore, Karnataka, India
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Artificial Intelligence

Chiratae Ventures is a global network of venture capital funds with approximately $3.6 billion under management and a portfolio of over 220 companies built over the last 15 years. The Chiratae Ventures network is comprised of five independent partnerships managing funds in North America and Asia. Each partnership makes investments on behalf of itslimited partners, including International Data Group (IDG), the world's largest IT media company. By combining the IDG platform – an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources – with years of hands-on experience in early-stage company building, each Chiratae Ventures fund helps companies understand their markets better and penetrate them faster than their competition.With partnerships in the USA, Korea and multiple locations throughout China, India and Vietnam, the IDG Ventures network offers the international perspective and the local market expertise to help companies grow from start-ups to global success stories.

## GDP Venture
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: Artificial Intelligence, Information Technology, Software

GDP Venture is a venture builder focusing on commerce, consumer product, media & entertainment and solution companies

## Frees Fund
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 2
- Stages: Series A, Seed, Angel
- Focus: Artificial Intelligence, E-Commerce, Health Care

By adopting revolutionary mechanisms, FREES FUND is devoted to change the long-established rules in the venture capital. By leveraging the cutting-edge technologies and resources, FREES FUND aims at investing in great startups and helping them grow into great enterprises that are valuable to our society. We mainly invest in early-stagestartups, and hope to become their first-round institutional investor. Our primary interested areas are broad-sense TMT (Technology, Media, Telecom), B2B and deep technology.

## Zero2IPO Ventures
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A, Series B, Angel
- Focus: E-Commerce, Internet, Education

Zero2IPO Ventures is the venture investment arm under Zero2IPO Group targeted at high-potential, high-growth China enterprises. Leveraging Zero2IPO's vast network in China, Zero2IPO Ventures does not compete with other venture funds, but rather pursue a two-prong investment strategy, i.e. to co-invest with active venture capital firms ingrowth and late stage companies and to lead or co-lead in early stage startups in China. The industry focus includes Internet, mobile and wireless applications, digital media, healthcare, green-tech, consumable products and services, as well as other emerging sectors. We intend to leverage the extensive network that has been created by Zero2IPO Group, a leading venture capital and private equity market research and financial advisory company, to seek out potential investment opportunities and provide a strong value-add to our portfolio companies. Through its venture capital and private equity surveys, investment forums, training programs, and investment advisory services, Zero2IPO Group has developed a strong reputation in the China market for helping entrepreneurs connect with investors.

## Farallon Capital Management
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series B, Series C, Series D
- Focus: Biotechnology, Health Care, Medical

We pursue multiple investment strategies on an opportunistic basis.

## Vision Knight Capital
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: Artificial Intelligence, Information Technology, Food and Beverage

Vision Knight Capital Fund I,L.P. (hereinafter referred to as“VKC”) is a private equity fund focusing mainland China’s retail/consumer, internet and e-commerce sectors.At VKC, we have successfully integrated operation experts and investment experts to form a unique team. Our team consists of China’s top corporate senior managements andinvestment professionals with years of operation and investment experience. They have specialized industrial expertise and outstanding operation performance in China’s internet, e-commerce and retail sectors. In addition to the capital investment to the portfolio company, VKC’s unique operation and investment team also provide real value added services such as operation enhancement and business model transformation/upgrade, with the vision to enhance the portfolio company’s core value and in return be recognized in the capital market.

## Tianxing Capital
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Post-IPO Equity, Series C, Series B
- Focus: Software, Education, Industrial

Tianxing Capital is a capital management company.

## Kaiyuan Securities
- Type: VC Fund
- Location: Xian Shi, Shaanxi, China
- Relevant deals: 1
- Stages: Post-IPO Equity, Series A, Series B
- Focus: Media and Entertainment, Manufacturing, Artificial Intelligence

Kaiyuan Securities is an investment firm.

## Ventech China
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: E-Commerce, Retail, Big Data

Ventech Capital was founded in 1998 in France. Ventech is one of the most famous VC funds in Europe and manages four funds. In China, Ventech China manages three funds. Globally, this represents more than USD 1B total asset under management. Ventech China is based in Shanghai. Ventech China 3 is a USD 220 million venture capital fund focused oncommunities, M-commerce, Big Data and Fintech. Its current portfolio companies include Keep, the No.1 fitness training and community app in China, WonderFull, the emerging Japanese product M-commerce platform, Juzi, the leading entertainment news platform, Datawin, the leading big data company in sales leads generation, and Blued, the No.1 gay community app in China. Ventech China is dedicated to growing together with innovative startups and help them to become global leaders in their fields.

## Gakken Plus Japan
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Art, EdTech, Robotics

Gakken Plus is a publishing business offering a catalog of books and magazines.

## TransCosmos
- Type: VC Fund
- Location: Mountain View, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Internet, E-Commerce, Software

Transcosmos Investments & Business Development, Inc., is a strategic corporate investor and an active local business partner for Internet-based U.S. technology companies expanding into the Japanese and Asian marketplace.It is offering capitalization of joint ventures, infrastructure development, strategic relationships, and localization tocompanies in the U.S. technology sector. Transcosmos Investments' portfolios, which focus on companies specializing in digital marketing, e-commerce and digital media, include such brand names as Ask.com, DoubleClick Inc., RealNetworks Inc., NetRatings Inc., Atom/Shockwave Entertainment, Inc., Become, Inc., Pheedo, Inc. and Brightcove, Inc.

## Yanjiyou
- Type: VC Fund
- Location: Chengdu, Sichuan, China
- Relevant deals: 1
- Stages: Series A
- Focus: Art, Fashion, Photography

Yanjiyou is a Chinese innovative bookstore operator, which combines bookstore with art gallery and cafe. It provides cultural lifestyle products for young people such as books, stationery, home accessories and drinks.

## Openspace
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: E-Commerce, Financial Services, Information Technology

Openspace Ventures is a leading venture capital firm finding and backing Southeast Asian companies creating a transformative impact where tech meets life.

## Cenova
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Health Care, Medical, Pharmaceutical

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 by Dr Jun WU and is one of the earliest investors in private healthcare services and digital health, with helps to facilitate the transformation of healthcare in China from an exclusively state-owned system to a more efficient, market-oriented system. CenovaCapital is healthcare funds dedicated to early and growth-stage investments in the life sciences and healthcare sector in China. Since inception in 2010, Cenova now has five funds under management with investments in over 50 companies in healthcare services, pharmaceuticals, medical devices and digital heath. Cenova's investors are mainly large domestic and international institutional investors including Asian sovereign wealth funds, government institutions, insurance and financial institutions and multinational companies.

## Capital Nuts Investment Management Ltd
- Type: VC Fund
- Location: Xiamen, Fujian, China
- Relevant deals: 1
- Stages: Series A, Angel, Series B
- Focus: E-Commerce, Service Industry, Big Data

Capital Nuts is a China-based, early stage fund, specializing in consumer-focused, online technology investments.Specialist areas include mobile internet, digital entertainment content, and e-commerce/e-business, with available funding ranging from $100,000-$5,000,000 per investment.Capital Nuts also offers market entry services tostartups approaching China, as well as an incubator to help startups develop within the market.The fund's partners have been active in China's online industry since the late 1990's, and provide its startup investments with funding, insight, and business development channels to the opportunities within the dynamic China market.

## Monex Ventures
- Type: VC Fund
- Location: Minato, Chiba, Japan
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Financial Services, Information Technology

Monex Ventures is a venture capital firm based in Japan that finances seed and early stage investments in startup companies.

## Mercari
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Internet, Online Portals, Financial Services

Mercari is your marketplace. It's the perfect place to declutter and discover items that are uniquely you. Say 'goodbye' to your old go-tos and 'hello' to one-of-a-kind treasures.

## ECC Capital
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A, Seed, Angel
- Focus: Artificial Intelligence, Semiconductor, Hardware

ECC Capital is an investment firm focused on investments in early stage and high growth stage venture capital fund.

## Dark Horse Ventures
- Type: VC Fund
- Location: Haidian, Beijing, China
- Relevant deals: 1
- Stages: Angel, Series A, Seed
- Focus: Information Technology, Software, Education

Dark Horse Venture is a venture capital firm that invests at early-stage startups in industrial internet and technology.

## SHiP
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A, Angel, Series B
- Focus: Software, Hardware, Manufacturing

SHiP provides management and services for demonstration areas.

## Leaguer Group
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A, Angel, Post-IPO Equity
- Focus: Hardware, Artificial Intelligence, Manufacturing

Leaguer Group engages in the business of technological innovation services that promote the transformation of scientific and technological achievements and assist in the incubation of innovative enterprises.Since its establishment, it has gradually gathered the four elements of technology, talents, carriers and capital of the science andtechnology innovation industry chain, and has formed a scientific and technological innovation incubation system with high integration of research and development platform, talent training, innovation base and investment incubation, and explored the close relationship between technological innovation and economic development. Combined development model and profit model.In 2015, together with the research institute of Shenzhen Tsinghua University, the Group won the “Guangdong Science and Technology Award Special Award” for the highest award in the field of science and technology system innovation in Guangdong Province due to the “Innovative Technology Innovation Incubation System Construction”.

## Ceyuan Ventures
- Type: VC Fund
- Location: Hong Kong, Hong Kong Island, Hong Kong
- Relevant deals: 1
- Stages: Series A, Series B, Angel
- Focus: Software, Internet, Mobile

Ceyuan Ventures is a Beijing-based early stage venture capital firm focused on IT and emerging growth companies. They emphasize backing great teams, technology and business innovation. Their mission is to assist entrepreneurs in creating and building world-class businesses.

## Shanda Capital
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Angel, Series A, Seed
- Focus: Mobile, Software, Medical

Shanda Capital is the private equity and venture capital arm of Shanda Interactive Entertainment Ltd. specializing in start ups, early and mid-stage investments. The firm does not invest in online game developers and operators. It seeks to invest in the mobile internet, TMT (technology, media, and telecommunication), and culture sector. and alsofocuses on new media as well as applications based on the Android operating system of Google Inc. Shanda Capital was founded on February 17, 2011 and is based in China

## Shinsei Bank
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Series A, Series C
- Focus: Finance, Task Management, Internet

We provide online services and English-speaking support, allowing you to make transactions anytime, anywhere.

## ByteDance
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Artificial Intelligence, Software, Robotics

Founded in 2012, ByteDance's mission is to inspire creativity and enrich life. With a suite of more than a dozen products, including TikTok, Helo, and Resso, as well as platforms specific to the China market, including Toutiao, Douyin, and Xigua, ByteDance has made it easier and more fun for people to connect with, consume, and create content.ByteDance's investors include Coatue, General Atlantic, KKR, Sequoia Capital, SIG, and Softbank.

## Jungle Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: E-Commerce, Software, Financial Services

Jungle Ventures is one of Southeast Asia's largest independent venture capital firms based in Singapore. We invest in early and growth-stage startups in Southeast Asia and India, focused on building category-defining businesses that stand the test of time.

## Suzhou Touareg Outdoor Media
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Video, Content and Publishing, Media and Entertainment

Suzhou Touareg Outdoor Media is an investment firm.

## Evershine Capital
- Type: VC Fund
- Location: Hangzhou, Zhejiang, China
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: B2B, ISP, Wireless

Evershine Capital is a private Investment Firm.

## Burda Principal Investments
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 1
- Stages: Series B, Series C, Series A
- Focus: E-Commerce, Fashion, Retail

Burda Principal Investments (BPI) is a division of Hubert Burda Media which provides long term growth equity for fast growing digital technology and media companies.

## GGV Capital
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Information Technology, Artificial Intelligence

We believe the talent to build great companies comes from anywhere. A global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed- to growth-stage investments across Social/Internet, Enterprise Tech, and Smart Tech sectors.

## Xiangan Longye
- Type: VC Fund
- Location: Tongzhou, Beijing, China
- Relevant deals: 1
- Stages: Angel
- Focus: Children, Consumer, Photography

Xiangan Longye is an investment management firm.

## Ameba Capital
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Angel, Series A, Series B
- Focus: Software, Information Services, E-Commerce

Ameba Capital is a Chinese venture capital firm that provides early and growth stage investments. Ameba Capital makes investments in the telecommunications, media, and technology industries, focusing on SaaS, AI, Digital Transformation and other disruptive technologies.

## Yangjiade
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A
- Focus: Software, Photography, Photo Editing

Yangjiade is an investment firm.

## Zhongtou Guoyin
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A
- Focus: Software, Photography, Photo Editing

Zhongtou Guoyin is an investment firm.

## Grand Harvest
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A
- Focus: Software, Photography, Photo Editing

Grand Harvest is an investment firm.

## Sapphire Lake Investment
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A
- Focus: Gaming, Medical, Big Data

Sapphire Lake Investment is committed to providing investors with long-term stable performance returns. It aims to provide high-net-worth customers with suggestions for large-scale asset allocation and achieve long-term and stable investment returns for customers by building a full range of asset management products and practice the concept ofvalue investment with customers.

## Rongsheng Chuangfu
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Angel, Series A, Post-IPO Equity
- Focus: Coffee, Medical, Software

Rongsheng Chuangfu is an investment firm.

## Zhongzhiyixin Konggu
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A
- Focus: Software, Photography, Photo Editing

Zhongzhiyixin Konggu is an investment firm.

## Qianhai Hengji Jiahui
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A
- Focus: Software, Photography, Photo Editing

Qianhai Hengji Jiahui is an investment firm.

## JAFCO Asia
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: E-Commerce, Software, Information Technology

Since its establishment in 1990, JAFCO Asia has grown to become a leading brand in the venture capital industry in the Asia Pacific region. Currently, JAFCO Asia has offices in Singapore, Hong Kong, Taipei, Seoul and Beijing.With more than US$1.2 billion funds under management in aggregate, JAFCO Asia's experienced investment team hasinvested in over 368 companies in 13 countries (Hong Kong, China, Taiwan, South Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines, Australia, India, Israel and Vietnam) and divested more than 260 companies of which at least 86 have been publicly listed.Since the new millennium, JAFCO Asia has shifted its focus entirely to technology related investments and is now one of the pre-eminent venture capital technology investors in the region. They believe that their existing portfolio in the Asia Pacific region and the worldwide business network offer their portfolio companies significant potential for synergistic partnerships.

## lool Ventures
- Type: VC Fund
- Location: Tel Aviv, Tel Aviv, Israel
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, SaaS, Mobile

lool Ventures is a venture capital firm that invests in early stage Israeli startups.

## Lenovo
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: Software, Manufacturing, Information Technology

Lenovo is one of the world's leading personal technology companies, producing innovative PCs and mobile internet devices. A global Fortune 500 company, Lenovo is the world's largest PC vendor and fourth largest smartphone company.While the Lenovo brand came into existence only in 2004, the company has a much longer history. In 1984,Legend Holdings was formed with 200,000 RMB (US$25,000) in a guard house in China. The company was incorporated in Hong Kong in 1988 and would grow to be the largest PC company in China. Legend Holdings changed its name to Lenovo in 2004 and, in 2005, acquired the former Personal Computer Division of IBM, the company that invented the PC industry in 1981.Today, Lenovo is a US$39billion personal technology company with more than 54,000 employees (including joint ventures) in more than 60 countries serving customers in more than 160 countries. Lenovo is a global company that is incorporated and headquartered in Hong Kong, with operational centers located strategically around the world , with the largest in Beijing and Morrisville, NC. These operational centers drive Lenovo’s global and local business approach.Lenovo has grown faster than the market for more than four years because our exceptionally engineered products are meant for those who do. Our customers use innovation to bring progress to the world, and we design and build our products with this in mind, taking inspiration from the drive and imagination of the people who make things happen. Our technology helps those who do, do better.Whether a PC, smartphone, tablet, smart TV, server, workstation or storage, Lenovo makes the products that customers need for what we call the "PC+ world." Lenovo is creating real differentiation from the competition thanks to its vertically integrated end-to-end business model. This model is unique among major PC makers and is a significant source of competitive advantage, helping us to bring more innovation to market, more efficiently, and aggressively attack the PC+ opportunity.And as Lenovo expands globally, we are establishing even deeper roots in each major market, investing not only in sales and distribution, but also in local domestic manufacturing, R&D and other high-value functions. This global reach with local excellence is enabling us to build a new kind of company - a "global-local" company - and positions us to more deeply implement our protect and attack strategy and build the foundation for long-term success.

## Qingsong Fund
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A, Angel, Series B
- Focus: Internet, Education, Health Care

Founded in June 2012 by Liu Xiaosong, Dong Zhanbin, and Su Wei, three Internet and investment circle veterans, Qingsong Fund is an early venture capital firm specializing in investment in education, social networking, consumerism, innovation, technology and applications. It manages four RMB funds with a total value of about RMB 2 billion. So far,it has invested in more than 140 companies, including 1 to 1 head, 1 DaDa English, squirrel AI, onion mathematics, wedding calendar, werewolf killing, flystep technology, HomeFacial. Pro and other star projects - 50% exit project returns more than 60 times, multiple project valuation multiples increased nearly 200 times, and educational projects have an average annual value increase of 500%. Among them, the Qingsong Smart Fund, which was newly established in 2018, focuses on the underlying technologies of the underlying AI and Smart Connect, as well as investment in such areas as smart healthcare, enterprise services and intelligent transportation applications. Liu Xiaosong, founding partner of Qingsong Fund, is a Ph.D. student at Tsinghua University. He invested in Tencent in 1999 and has a return on investment of tens of thousands of times. In 2000, he founded A8 New Media Group, which was successfully listed on the main board in Hong Kong in 2008. In 2015, he hatched in November 2018. Listed in Hong Kong stocks in the year. As a leading early investment institution in China, Qingsong Fund and its founding partners have repeatedly won Top 10 of Zero2IPO China's early investment institutions/investors, Top10 of China's education sector, Top100 of Chinese investors, and China's best early venture capital investment. Institution/Investor Top10; 36氪 China's new entertainment sector investment institutions Top10, online education sector investment institutions/investors Top10 and other mainstream awards.

## Darwin Venture Management
- Type: VC Fund
- Location: Taipei, T'ai-pei, Taiwan
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Manufacturing, Information Technology

Darwin Venture Management is a venture capital firm headquartered in Taipei, Taiwan, with offices in Hsinchu and the United States. Since our founding in 2009, we have managed seven funds, investing primarily in Series A/B, late-stage, and secondary funds. In 2022, we also launched an evergreen angel fund to enable more nimble bets onpromising early-stage teams, and especially those coming from Taiwan’s superb academic and research institutions. This exposure across stages and borders, coupled with the strong technical background of our team, is the source of Darwin’s differentiation.

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