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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?

Lingdong Technology

Hangzhou, Zhejiang, China

Lingdong Technology is a provider of new energy thermal management systems, specializing in the development of thermal management systems.

EnergyEnergy Management
Series AMar 30, 2026
Infimotion

Wuxi Shi, Jiangsu, China

InfiMotion is a company that specializes in the development, manufacturing, and selling of high-performance electric drive systems (EDU)

AutomotiveElectric VehicleManufacturing
Series BFeb 14, 2026
Unbounded Dynamics

Beijing, Beijing, China

Unbounded Dynamics is a robotics and embodied intelligence startup that develops operational intelligence for robots and autonomous systems.

Artificial Intelligence (AI)NeuroscienceRobotics
SeedFeb 14, 2026
Amount Raised: $28,949,216
RoboScience

Shenzhen, Guangdong, China

RoboScience is a company focusing on cross-entity universal embodied intelligence technology.

Industrial AutomationMachinery ManufacturingManufacturingRobotics
SeedFeb 12, 2026
Noematrix

Shanghai, Shanghai, China

Noematrix is an embodied intelligence company that specializes in innovative general robotic intelligence solutions and services.

Intelligent SystemsManufacturingRobotics
Series AFeb 10, 2026
Zhifeng Pharma

Jinhua, Zhejiang, China

Zhifeng Pharma is a high-tech enterprise focusing on biopharmaceutical research and development.

Series AFeb 10, 2026
Lingxi Photon

Beijing, Beijing, China

Lingxi Photon is a high-tech enterprise specializing in the manufacturing of optoelectronic devices

AngelFeb 10, 2026
Yunqi Jiyao

Hangzhou, Zhejiang, China

Yunqi Jiyao engages in the research and development of compact plasma light source technology

SeedFeb 9, 2026
Coherent Technology

Beijing, Beijing, China

Coherent Technology is a quantum computing power service provider.

SeedFeb 9, 2026
Amount Raised: $14,411,402
ENGOAL

Suzhou, Jiangsu, China

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

Series UnknownJan 28, 2026

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