# China Merchants Kunlun Capital

China Merchants Kunlun Capital is a Private Equity based in Beijing, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** cmkcapital.com

## Regulatory record

- **Reports private funds:** No

## About

China Merchants Kunlun Capital is a private equity fund. It focuses on consumer, financial services, advanced manufacturing, agriculture, healthcare, and clean energy sectors. The company was founded in 2023 and is based in Beijing, China.

## Sectors

- AI/ML
- Enterprise Software
- Healthcare Services
- Mobility & Transportation
- Robotics & Automation

## People

- Li Jian — President
- Li Xiaopeng — Chairman

## Questions

### How does CM Kunlun source proprietary deal flow?

The firm's primary sourcing advantage comes through China Merchants Group's national operating footprint. Portfolio company data from the group's logistics, financial services, and real estate divisions provides a view into technology demand across China's industrial economy, while the group's relationships with SOEs create a pipeline of privatization and spin-out opportunities.

### Does China Merchants Kunlun Capital manage third-party capital?

Yes. While anchored by China Merchants Group's balance sheet, the firm has raised renminbi-denominated funds from Chinese institutional investors. The National Social Security Fund has been a disclosed limited partner, signaling government confidence in the platform's governance standards.

### What investment stages does the firm target?

CM Kunlun invests across the venture lifecycle. Its activity spans seed-stage AI startups, growth rounds for companies approaching commercialization, and select control situations where strategic alignment with China Merchants Group's operating businesses creates value.

### What is China Merchants Kunlun Capital's relationship with China Merchants Bank?

Both entities sit under the China Merchants Group umbrella, but CM Kunlun is a direct subsidiary of the parent conglomerate, not the bank. The affiliation provides indirect access to the bank's commercial network, but the firm operates with independent investment governance and a separate management team.

### Has CM Kunlun delivered public-market exits?

Yes. In March 2024, portfolio company SmartMore filed for a Hong Kong IPO, and Cambricon Technologies, a semiconductor design portfolio holding, completed a STAR Market IPO in 2020. StarDust Intelligence, an autonomous driving sensor company, was acquired by a strategic buyer as a trade sale exit.

## Related profiles

- [China Guoxin Capital](https://altss.com/profile/china-guoxin-capital)
- [China Science & Merchants Capital Management](https://altss.com/profile/china-science-and-merchants-capital-management)

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

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