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Puhua Capital

Asia, Zhejiang, China, Hangzhou

Description

Puhua Capital, established in 2004 and headquartered in Hangzhou, China, is a prominent equity investment firm specializing in early and growth-stage projects. The firm has built a strong reputation for its strategic investments across a diverse range of high-growth sectors. With a comprehensive investment strategy, Puhua Capital aims to identify and support innovative companies that demonstrate significant potential for market disruption and long-term value creation.

Puhua Capital's investment mandate spans key industries including TMT (Technology, Media, Telecom), healthcare, advanced manufacturing, new consumption, new energy, and environmental protection. This broad yet focused approach allows the firm to capitalize on emerging trends and technological advancements within the Chinese market. The scale of Puhua Capital's operations is substantial, managing over RMB 20 billion (approximately $3 billion USD) across various funds. This considerable capital base enables the firm to deploy significant resources into its portfolio companies, supporting their development from nascent stages through to maturity.

The firm's extensive portfolio boasts over 300 companies, reflecting its active engagement in the venture capital landscape. Puhua Capital is not merely a financial investor; it emphasizes providing strategic guidance and post-investment support to help its portfolio companies navigate market challenges and accelerate growth. This hands-on approach has contributed to a strong track record, with over 50 successful exits, underscoring the firm's ability to identify and nurture ventures that achieve significant returns. Puhua Capital's commitment to fostering innovation and driving industrial transformation positions it as a key player in China's venture capital ecosystem.

Investor Profile

Puhua Capital has backed more than 49 startups, with 22 new investments in the last 12 months alone. The firm has led 12 rounds, about 24% of its total and boasts 9 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series A, Seed rounds (top funding stages).
  • Majority of deals are located in China, United Kingdom, United States.
  • Strong thematic focus on Manufacturing, Health Care, Biotechnology.
  • Led 11 rounds in the past year.
  • Typical check size: $1M – $25M.

Stage Focus

  • Series B (29%)
  • Series A (24%)
  • Seed (18%)
  • Series C (14%)
  • Series Unknown (10%)
  • Series D (2%)
  • Series E (2%)

Country Focus

  • China (73%)
  • United Kingdom (22%)
  • United States (2%)

Industry Focus

  • Manufacturing
  • Health Care
  • Biotechnology
  • Artificial Intelligence (Ai)
  • Medical
  • Medical Device
  • Automotive
  • Industrial
  • Autonomous Vehicles
  • Robotics
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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 Puhua Capital frequently co-invest with?

Tencent
Asia, Guangdong, China, Shenzhen
Co-Investments: 4
Cathay Capital
Europe, Ile-de-France, France, Paris
Co-Investments: 2
Matrix Partners China
Asia, Beijing, China, Beijing
Co-Investments: 3
PricewaterhouseCoopers GmbH
Europe, Hessen, Germany, Frankfurt
Co-Investments: 2
Innoangel Fund
Asia, Beijing, China, Beijing
Co-Investments: 2
Downing Ventures
Europe, England, United Kingdom, London
Co-Investments: 2
Amadeus Capital Partners
Europe, Cambridgeshire, United Kingdom, Cambridge
Co-Investments: 4
GGV Capital
North America, California, United States, Menlo Park
Co-Investments: 2
Haitong Capital
Europe, Lisboa, Portugal, Lisbon
Co-Investments: 2
Parkwalk Advisors
Europe, England, United Kingdom, London
Co-Investments: 3

Which angels does Puhua Capital often collaborate with?

BG
Asia, China
Shared Deals: 1
MA
North America, California, United States, San Francisco
Shared Deals: 1
ME
Europe, England, United Kingdom, London
Shared Deals: 1

What are some of recent deals done by Puhua Capital?

ENGOAL

Suzhou, Jiangsu, China

ENGOAL focuses on logistics automation technology, providing intelligent logistics solutions for the entire industrial process.

Series UnknownJan 28, 2026
DeepWay

Beijing, Beijing, China

DeepWay is a maker and developer of intelligent electric commercial vehicles.

Autonomous VehiclesElectric Vehicle
Series UnknownJan 26, 2026
Amount Raised: $169,029,052
Nine Stars

Hangzhou, Zhejiang, China

Nine Stars is a leading local EDA business that offers full-process logic synthesis (Synthesis) commercial solutions.

Semiconductor
Series AJan 26, 2026
Sunrise

Hangzhou, Zhejiang, China

Sunrise is a metering solution provider that offers smart charging opertaions, water meter, and AMI solutions.

Charging InfrastructureElectrical DistributionEnergy ManagementManufacturing
Series UnknownJan 22, 2026
Amount Raised: $430,193,874
Bohua precision spindle

Suzhou, Jiangsu, China

Bohua Precision Spindle is a precision machine tool spindle manufacturer.

Machinery ManufacturingManufacturing
Series AJan 4, 2026
Haimai Medical

Suzhou, Jiangsu, China

Haimai Medical is a platform for tissue engineering and regenerative medicine technology.

MedicalTherapeutics
Series ADec 29, 2025
Amount Raised: $14,273,684
Belle Healthcare

Suzhou, Jiangsu, China

Belle Healthcare provides surgery equipments for hospitals.

Health Care
Series UnknownDec 20, 2025
Quanzhentong

Hangzhou, Zhejiang, China

Quanzhentong specializes in medical AI products and services, utilizing its comprehensive platform in numerous hospitals.

Artificial Intelligence (AI)MedicalMedical Device
Series BDec 15, 2025
ENCOS

Nanjing, Jiangsu, China

ENCOS is a developer of high-performance robot integrated joint modules.

Advanced MaterialsRobotic Process Automation (RPA)
SeedDec 14, 2025
Amount Raised: $28,350,698
Shixin Materials

Tianyuan, Fujian, China

Shixin Materials conducts research and development, production and sales of carbon-ceramic composite materials and their products.

Industrial ManufacturingManufacturingSemiconductor
Series DDec 9, 2025

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