Updated:
Beijing Fuhua Yongsheng Investment Management Consultancy
Zhao Yong and Zhao Li invest Fu Wah International family capital from Beijing, backing real assets and PE funds including Jack Ma's Yunfeng Capital.
Beijing Fuhua Yongsheng Investment Management Consultancy
The firm operates as the investment arm for the family of Chan Laiwa, who founded Fu Wah International Group and is one of China’s wealthiest self-made women. Her children, Zhao Yong—who also serves as President of Fu Wah International—and Zhao Li each hold a 50 percent stake in the consultancy. The underlying wealth originates from the group’s development of Beijing’s Jinbao Street, a commercial corridor anchored by high-end hotels, luxury retail, and premium office space. Asset allocation tracks the group’s dual identity as a major real estate operator and a sophisticated allocator to external funds. On the direct side, this means ongoing investment in prime Beijing commercial properties and associated luxury ventures. On the third-party side, a known commitment is a limited partner position in Yunfeng Capital, the private equity firm co-founded by Alibaba’s Jack Ma. Yunfeng invests across growth-stage industrial, consumer, and TMT companies, giving the family exposure to sectors far beyond its operating base. The firm maintains a low public profile, consistent with the discreet operational style of the Fu Wah group. No current team size or total capital deployment figures are disclosed. The structure appears tightly held, with no external shareholders beyond the sibling co-owners. Philanthropic activity, if any, is handled separately through family or corporate channels. The structural differentiator is the blend of an operating conglomerate’s balance sheet with an institutional-quality fund commitment program. Rather than building an internal direct-investment team to target technology or venture, the family chose the limited partner route via a top-tier relationship. That hybrid model—direct real asset ownership paired with capital in a premier private equity manager—keeps the office lean while granting connectivity to China’s internet ecosystem via the Yunfeng alliance.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Beijing
Corporate office
Beijing, China
Principals
Zhao Yong
Founder / Owner
Zhao Li
Founder / Owner
Chan Laiwa
Family Member / Wealth Origin
Sector focus
Frequently asked questions
Who runs investment decisions at Beijing Fuhua Yongsheng?
Ownership and control are split evenly between siblings Zhao Yong and Zhao Li. Zhao Yong is the more publicly visible operator, serving as President of the parent Fu Wah International Group, which suggests he drives strategic direction. Their mother, Chan Laiwa, established the underlying wealth but no longer appears in the management structure of the investment consultancy.
How does the firm source proprietary deal flow?
The firm does not appear to source independent third-party deals. Its direct investment exposure is tied to the Fu Wah International Group’s own real estate development pipeline and operating businesses. External deal flow flows through the commitment to Yunfeng Capital, giving the family access to the network and sourcing engine of Jack Ma’s private equity platform.
Is this a single family office or does it operate more like a venture firm?
It is structured as a single-family investment vehicle—an investment management consultancy serving the Chan Laiwa family. It does not manage outside capital and does not function as a venture firm. Its private equity exposure is achieved passively through a limited partner stake in Yunfeng Capital rather than through an internal direct-investment team.
Does the firm participate in fund commitments or only direct deals?
Both. On the fund side, its most significant known position is as a limited partner in Yunfeng Capital. On the direct side, the broader family group holds substantial equity in prime Beijing real estate assets and luxury hospitality properties developed by Fu Wah International Group.
Where does the underlying wealth come from?
The wealth comes from Chan Laiwa, who founded Fu Wah International Group. She built one of China’s largest privately held real estate portfolios, centered on Beijing’s Jinbao Street, a commercial zone of luxury hotels, high-end retail, and office towers. Forbes and Hurun consistently rank her as one of China’s richest women.
What is the firm's relationship to Yunfeng Capital?
Beijing Fuhua Yongsheng is a limited partner in funds managed by Yunfeng Capital, the private equity firm co-founded by Jack Ma and David Yu. The commitment places family capital into Yunfeng’s growth-stage and buyout deals across consumer, TMT, and healthcare, creating a link between old-economy real estate wealth and China’s tech investment elite.
What sectors does the firm explicitly avoid?
No explicit exclusion list is published. However, the disclosed portfolio footprint—Beijing commercial real estate, luxury assets, and a private equity commitment to a generalist growth fund—suggests an absence of direct exposure to early-stage technology, biotech, or heavy industrial sectors outside of what Yunfeng Capital may hold.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: