Hangzhou Fengying Industrial Investment

Zong Peimin, who chairs Huarui Investment, functions as a business partner to Fengying's founder Zheng Jizong. Huarui manages the investment vehicles that house Fengying's capital, effectively serving as the external fund manager while Fengying acts as a principal LP. The two entities have appeared together across multiple fund structures, with co-investors Huang Chao and Cen E also recurring in the same LP rosters.

Industry records indicate coverage across seed, early-stage start-up, and expansion/late-stage venture rounds. This full-cycle mandate gives Fengying flexibility to participate in both new company formation and growth-equity placements within China's domestic market.

The firm primarily participates through fund commitments, appearing as a limited partner in venture capital vehicles managed by Huarui Investment. There is no public evidence of direct co-investment SPVs or standalone direct deals led by Fengying itself.