# Capital For Science & Industry

Capital For Science & Industry is a Private Equity based in Hangzhou, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Hangzhou, Zhejiang, China
- **Founded:** 2020
- **Assets under management:** RMB 2.7B total platform oversight (per firm website, 2025)
- **Website:** cicsic.com

## Regulatory record

- **Reports private funds:** No

## About

Capital For Science & Industry is a private equity firm based in Hangzhou, China. It focuses on venture capital investments.

## Sectors

- Industrial Tech
- AI/ML
- Energy Transition & Renewables

## Offices

- Xi'an
- Beijing
- Nanjing

## People

- 高纳会 — Managing Partner
- 张红朝 — Partner
- 徐烨峰 — Partner
- 徐正成 — Partner
- 王冠达 — Partner

## Questions

### Who runs investment decisions at Capital for Science & Industry?

The firm lists five named partners on its website: 高纳会, 张红朝, 徐烨峰, 徐正成, and 王冠达. While individual titles beyond partner are not detailed, the group collectively brings three decades of military R&D experience, two decades of manufacturing-enterprise management, and over twenty years of hard-tech venture risk control to the investment committee process.

### How does Capital for Science & Industry source proprietary deal flow?

Sourcing is anchored in the firm’s structural relationship with the Zhejiang Tsinghua Yangtze Delta Research Institute, which grants access to defense-conversion and university-spinout pipelines. The partnership model formalized in 2026 adds a quadrilateral link among the firm, Xi’an Jiaotong University’s National Technology Transfer Center, the Zhuji municipal government, and portfolio company Qidian Energy — a setup designed to surface lab-stage hard-tech projects before they enter broader auction processes.

### Is Capital for Science & Industry a pure GP, or does it also manage government capital?

The firm operates as a private GP managing nearly RMB 2 billion across four proprietary venture and growth funds. In parallel, it holds a separate mandate to provide post-investment management for a RMB 6 billion industrial guidance fund — effectively making it a hybrid private-public platform that runs its own committed capital alongside a strategic government allocation.

### Does Capital for Science & Industry participate in fund commitments or only direct deals?

The firm invests directly via its own fund family — spanning seed, angel, and growth stages — and has not publicly disclosed a fund-of-funds or LP-commitment program. Its ecosystem engagements, such as the co-launch of the Nanjing Keshí Venture Capital Partnership with Huá Rú Technology and Xīnghé Industry, reflect direct co-investment and strategic co-GP structures rather than passive LP stakes.

### How is Capital for Science & Industry related to the Tsinghua Yangtze Delta Research Institute?

The firm was founded and registered at the Institute in October 2020 and maintains sustained operational proximity there. While the exact governance or ownership structure between the firm and the Institute is not detailed publicly, the Institute affiliation provides a distinct competitive advantage in sourcing early-stage technology originating from Tsinghua-affiliated defense and advanced-manufacturing laboratories.

## Related profiles

- [Capital BW](https://altss.com/profile/capital-bw)

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Last updated: 2026-06-03T20:00:00.000Z

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