Lenovo Capital and Incubator Group (LCIG) logo

Lenovo Capital and Incubator Group (LCIG)

Asia, Beijing, China, Beijing

Description

Lenovo Capital and Incubator Group (LCIG) serves as the corporate venture capital arm of the global technology giant, Lenovo Group. Established to strategically invest in and incubate innovative startups, LCIG plays a crucial role in expanding Lenovo's technological ecosystem and fostering future growth areas. The firm combines traditional venture capital investment with an incubator function, providing not only capital but also strategic guidance, resources, and access to Lenovo's extensive network and market expertise. This dual approach allows LCIG to identify and nurture companies that align with Lenovo's long-term vision in emerging technologies.

LCIG primarily focuses its investments on early to growth-stage companies that are developing cutting-edge technologies and solutions. Their investment thesis centers around areas critical to the future of computing and connectivity, including artificial intelligence, big data analytics, cloud computing, Internet of Things (IoT), robotics, and augmented/virtual reality. By targeting these sectors, LCIG aims to create synergistic value with Lenovo's core businesses, exploring new product categories, enhancing existing offerings, and driving technological advancements that could shape the next generation of smart devices and infrastructure.

With a significant financial footprint, LCIG manages assets exceeding $2 billion across multiple funds, underscoring its substantial commitment to the venture landscape. Since its inception, the group has built a diverse portfolio, having invested in over 100 companies globally, predominantly in China, but also with an eye on international innovation. These investments range from seed-stage funding for promising concepts to larger growth equity rounds for more established enterprises. LCIG's strategic mandate ensures that its investments not only yield financial returns but also contribute to Lenovo's broader innovation strategy, positioning the parent company at the forefront of technological evolution.

Investor Profile

Lenovo Capital and Incubator Group (LCIG) has backed more than 52 startups, with 18 new investments in the last 12 months alone. The firm has led 8 rounds, about 15% of its total and boasts 8 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Series B rounds (top funding stages).
  • Majority of deals are located in China, Hong Kong, United States.
  • Strong thematic focus on Artificial Intelligence (AI), Manufacturing, Robotics.
  • Led 3 rounds in the past year.
  • Typical check size: $2M – $30M.

Stage Focus

  • Series A (31%)
  • Seed (23%)
  • Series B (21%)
  • Angel (10%)
  • Series Unknown (8%)
  • Series C (6%)
  • Private Equity (2%)

Country Focus

  • China (77%)
  • Hong Kong (10%)
  • United States (4%)
  • Israel (4%)
  • India (2%)

Industry Focus

  • Artificial Intelligence (Ai)
  • Manufacturing
  • Robotics
  • Information Technology
  • Electronics
  • Software
  • Semiconductor
  • Hardware
  • Medical
  • Autonomous Vehicles
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Lenovo Capital and Incubator Group (LCIG) frequently co-invest with?

Shunwei Capital
Asia, Beijing, China, Beijing
Co-Investments: 2
Angel Plus China
Asia, Beijing, China, Beijing
Co-Investments: 2
Cathay Capital
Europe, Ile-de-France, France, Paris
Co-Investments: 3
DT Capital Partners
Asia, Shanghai, China, Shanghai
Co-Investments: 2
Baidu Ventures
Asia, Beijing, China, Beijing
Co-Investments: 3
Matrix Partners China
Asia, Beijing, China, Beijing
Co-Investments: 4
HongShan
Asia, Beijing, China, Beijing
Co-Investments: 8
Qiming Venture Partners
Asia, Shanghai, China, Shanghai
Co-Investments: 3
GGV Capital
North America, California, United States, Menlo Park
Co-Investments: 4
Intel Capital
North America, California, United States, Santa Clara
Co-Investments: 3

Which angels does Lenovo Capital and Incubator Group (LCIG) often collaborate with?

Eddie Wu
Asia, Beijing, China, Beijing
Shared Deals: 1
Wanqiang Li
Asia, Beijing, China, Beijing
Shared Deals: 1
Adrian Cheng
Asia, Hong Kong
Shared Deals: 1
Shared Deals: 1

What are some of recent deals done by Lenovo Capital and Incubator Group (LCIG)?

West Lake Yanshan Technology

Hangzhou, Zhejiang, China

West Lake Yanshan Technology is a micro-LED company that focuses on the manufacturing and production of full-color display chips.

Industrial AutomationManufacturingSemiconductor
SeedJul 16, 2025
Amount Raised: $13,927,189
Qingcheng Jizhi

Beijing, Beijing, China

Qingcheng Jizhi is an AI Infra system software developer.

Artificial Intelligence (AI)Cloud Data ServicesSoftware
Series UnknownJul 14, 2025
Amount Raised: $13,950,309
DexForce

Guangdong, Jilin, China

DexForce offers an AI-enabled robot with integrated 3D vision cameras, and also manufacturing robot solutions.

ManufacturingRobotic Process Automation (RPA)RoboticsSoftware
Series AJul 10, 2025

Orbital Chenguang is a aerospace company that helps to launch and deploy deploy computing satellites.

AerospaceSatellite CommunicationService Industry
SeedJun 20, 2025
Amount Raised: $19,490,735
Lanxin Computing

Shenzhen, Guangdong, China

Lanxin Computing is a high-performance chip design company that focuses on the research and development of CPUs with RISC-V ecosystems.

Application Specific Integrated Circuit (ASIC)Electronic Design Automation (EDA)
Series AMay 22, 2025
Amount Raised: $13,880,599
TARS

Xuhui, Shanghai, China

TARS is a company that integrates embodied intelligence.

Autonomous VehiclesHealth CareLogisticsManufacturing
AngelMar 26, 2025
Amount Raised: $120,000,000
Deepin Technology

Haidian, Beijing, China

Deepin Technology focuses on chemistry research using artificial intelligence.

Artificial Intelligence (AI)ChemicalLife Science
SeedMar 19, 2025
Amount Raised: $13,827,051
Zhuji Dynamics

Baoan, Guangdong, China

Zhuji Dynamics is a general-purpose footed robot company

ManufacturingRobotics
Series AMar 6, 2025
Amount Raised: $69,008,350
Memsilicon

Beijing, Beijing, China

Memsilicon specializes in research and development solutions for RRAM storage and AI computing technologies.

Artificial Intelligence (AI)Data StorageInformation Technology
AngelMar 4, 2025
Galaxea AI

Suzhou, Jiangsu, China

Galaxea AI is an intelligent robot technology company that specializes in the development of humanoid robots with embodied intelligence.

Intelligent SystemsManufacturingRobotics
Series AFeb 20, 2025
Amount Raised: $41,345,094