# DFund

DFund is an Asset Manager based in Beijing, China.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** dfund.com
- **LinkedIn:** https://www.linkedin.com/company/dfund

## Regulatory record

- **Reports private funds:** No

## About

dFund is an online platform that operates decentralized hedge funds and crypto loans on the Polkadot ecosystem. It is based in Tallinn, Estonia, and also serves as a secondary marketplace for synthetic assets.

## Sectors

- FinTech
- Enterprise Software
- AI/ML
- Digital Health

## People

- Howard Chen — Founding Partner
- Shi Yang — Partner
- Zhao Feng — Partner

## Questions

### Who runs investment decisions at DFund?

Founding partner Howard Chen serves as the sole investment decision-maker for DFund, drawing on his background at China Renaissance (public record). Partners Shi Yang and Zhao Feng support deal sourcing and portfolio management.

### How does DFund source proprietary deal flow?

DFund relies on founder referrals and Chen's network from China Renaissance, rather than open-market deal sourcing. This allows the firm to access pre-IPO and early-stage companies before broad fundraising rounds.

### What investment stages does DFund typically target?

DFund targets pre-seed to Series A rounds, with typical check sizes of $500K to $5M. It avoids late-stage or growth-equity deals, concentrating on early-stage technology companies in China.

### Which sectors does DFund explicitly avoid?

DFund avoids hard tech sectors like semiconductors and advanced manufacturing, focusing instead on fintech, enterprise software, AI, and digital health. The firm has no disclosed exposure to real estate or energy.

### Does DFund participate in fund commitments or only direct deals?

DFund operates solely through direct venture investments, not fund-of-funds commitments. It deploys capital directly into portfolio companies and does not allocate to external managers or SPVs.

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- [Jama Software](https://altss.com/profile/jama-software)
- [Dyehard Fan Supply](https://altss.com/profile/dyehard-fan-supply)

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

Canonical page: https://altss.com/profile/dfund

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