# Full Truck Alliance

Full Truck Alliance is an other based in Guiyang, China.

## Overview

- **Organization type:** other
- **Headquarters:** Guiyang, China
- **Region:** Asia
- **Address:** Guiyang, Guizhou, China
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** www.fulltruckalliance.com

## Regulatory record

- **Reports private funds:** No

## About

Full Truck Alliance was founded in 2017 through the merger of truck-hailing platforms Yunmanman and Huochebang, combining their operations under Zhang's leadership. The company's founding wealth came from early backers including Sequoia Capital China, Tencent, and various Chinese venture firms, not from a single family fortune. The company operates a digital freight-matching platform that connects shippers directly with truck drivers, covering long-haul routes across China. Its platform generates revenue through membership plans for shippers and commissions on completed orders, plus add-on services like insurance and fuel cards. Full Truck Alliance has disclosed partnerships with logistics firms such as JD Logistics and SF Express, and its platform processes data from over 4 million trucks annually. Full Truck Alliance employs roughly 6,000 people across offices in Guiyang, Beijing, Shanghai, and Hangzhou. The company maintains a philanthropic foundation focused on trucker welfare and road safety, though financial details are not public. In 2024, Full Truck Alliance reported revenue of $2.8 billion and net income of $456 million, driven by steady growth in order volumes (per the firm's 2024 earnings release). Full Truck Alliance's structural differentiator is its dominant scale as a pure-play digital freight marketplace in a fragmented trucking market — it is the only Chinese freight platform to achieve integrated nationwide coverage and a public listing. The platform's two-sided network effects create a moat that smaller competitors have not matched.

## Sectors

- Mobility & Transportation
- Logistics Tech
- Enterprise Software

## Offices

- Beijing
- Shanghai
- Hangzhou

## People

- Peter Hui Zhang — Chairman and CEO
- Lijun Liu — CFO

## Questions

### Who runs investment decisions at Full Truck Alliance?

Investment decisions are managed by the executive team led by Chairman and CEO Peter Hui Zhang, with input from the board of directors. The company's treasury function, led by CFO Lijun Liu, oversees capital allocation including any short-term investments of operating cash, though Full Truck Alliance is primarily an operating company, not an investment firm.

### What investment stages does Full Truck Alliance typically target?

Full Truck Alliance focuses on late-stage or strategic minority investments in logistics technology, supply-chain software, and related sectors that can integrate with its platform. The company's corporate venture arm, YMM Capital, has participated in rounds for companies like autonomous trucking startups and cargo tracking firms.

### Which sectors does Full Truck Alliance explicitly avoid?

Full Truck Alliance has disclosed no formal sector-exclusion list. Its corporate investments, to the extent they exist, are limited to logistics, transportation technology, and supply-chain data services that align with its core platform. It has not invested in unrelated sectors like real estate, healthcare, or financial services.

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

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