Hangzhou Fengying Industrial Investment

Founder Zheng Jizong is the legal representative and principal shareholder of the firm and makes the ultimate allocation decisions. Operational fund management is typically delegated to Zong Peimin, chairman of Huarui Investment, who structures and manages the venture capital vehicles in which Fengying participates as a limited partner.

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.

Legally it is registered as an investment company in Hangzhou, but functionally it shares characteristics with a private family investment vehicle. It does not solicit third-party capital, does not maintain a public brand or website, and channels its investments through an affiliated external manager rather than building an in-house direct-investment team.

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.