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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?

INMO Glass

Shenzhen, Guangdong, China

INMO Glass are Foldable, monocular Augmented Reality (AR) glasses.

Augmented Reality
Series BJul 11, 2025
Amount Raised: $20,921,669
Seek wave

Shanghai, Shanghai, China

Seek wave focuses on wireless communication chip research and development.

InternetInternet of ThingsSemiconductor
Series BJun 30, 2025
Rongrui Technology

Hangzhou, Zhejiang, China

Rongrui Technology is an industrial enzyme developer, involved in industrial enzyme research and development.

Artificial Intelligence (AI)BiotechnologyIndustrial
SeedJun 29, 2025
Amount Raised: $13,942,140
Fanding International Group

Nanjing, Jiangsu, China

Fanding International Group offers supply chain services by reducing logistics costs.

Supply Chain Management
Series CApr 24, 2025
Yixing Technology

Xuhui, Shanghai, China

Yixing Technology is an automotive electronics technology service company.

Autonomous VehiclesDivingElectric Vehicle
Series AApr 23, 2025
Multiway Robotics

Shenzhen, Guangdong, China

Multiway Robotics provides intelligent manufacturing and logistics solutions based on robotics and artificial intelligence technologies.

Artificial Intelligence (AI)Intelligent SystemsRobotics
Series BApr 17, 2025
Amount Raised: $13,705,013

LuMing Robotics is an intelligent robot developer, mainly engaged in the research and development of intelligent robots.

Artificial Intelligence (AI)Robotics
SeedApr 9, 2025
Yifei Aviation

Beijing, Beijing, China

Yifei Aviation manufactures intelligent unmanned aerial vehicles (UAVs).

SeedMar 27, 2025
Amount Raised: $13,772,208
Yuntong Data Technology

Hangzhou, Zhejiang, China

Yuntong Data Technology is a cloud data platform that provides digital transportation solutions by using big data technology.

Big DataCloud Data ServicesCloud Management
Series AMar 6, 2025
Amount Raised: $6,900,168
Zhongke Guosheng

Hangzhou, Zhejiang, China

Zhongke Guosheng is research and development firm that designs and manufactures furan-based bio-based materials.

Advanced MaterialsBiotechnologyChemicalChemical EngineeringManufacturing
Series AMar 5, 2025
Amount Raised: $27,543,657