Frees Fund

Frees Fund (峰瑞资本) is a prominent venture capital firm based in Beijing, China, with a strategic focus on technology startups in both China and the United States. Established in 2015, the firm positions itself as a versatile investor, providing capital across early and growth stages, including seed, angel, Series A, and later-stage rounds. Their dual-market approach allows them to tap into innovation hubs in both Eastern and Western economies.

The firm's investment thesis spans a diverse range of high-growth sectors, primarily focusing on TMT (Technology, Media, and Telecommunications), healthcare, advanced manufacturing, and consumer technologies. Frees Fund has demonstrated a robust investment pace, having made over 260 investments since its inception. Their portfolio includes notable companies across various industries, reflecting their broad yet targeted approach to identifying disruptive technologies and business models.

Frees Fund has successfully raised multiple funds, accumulating an impressive asset under management (AUM) exceeding $1.2 billion across 10 distinct funds. Their latest significant close was Frees Fund V in 2023, which secured $300 million, underscoring their continued ability to attract capital and commit to new ventures. The firm is known for its hands-on approach, often taking lead investor roles in its portfolio companies, and has achieved more than 10 successful exits, showcasing their capability to nurture startups from early development to successful market realization.

Frees Fund's typical first cheque sizes range significantly, reflecting their multi-stage investment strategy. For early-stage companies, initial investments generally fall within the range of $500,000 to $5 million. For more mature, growth-stage enterprises, the firm is prepared to deploy larger sums, with first cheques potentially reaching up to $20 million, enabling substantial scaling and market expansion. This flexible investment approach allows Frees Fund to support promising technology companies throughout their lifecycle.