Hangzhou Heda Industry Fund Investment

The firm is wholly owned by the Hangzhou Qiantang New Area Industrial Development Group, which in turn is controlled by the Hangzhou Qiantang New Area Management Committee. This makes it a direct instrument of municipal government industrial policy in the Qiantang district of Zhejiang province.

The firm operates in close coordination with the Qiantang New Area's economic development mandates and frequently co-invests with established healthcare and technology venture firms. Its sourcing model combines government policy priorities with private deal flow from relationships like those with Lilly Asia Ventures and New Alliance Capital.

While the firm manages assets tied to the Hangzhou Heda Hi-Tech Industrial Park, its public co-investments appear to extend beyond park tenants. It has participated in broader pharmaceutical and technology rounds, suggesting a dual mandate of park development and flexible venture deployment across China.

Based on co-investment activity and industrial park focus, confirmed areas include digital health, pharmaceuticals, enterprise software, and industrial technology. The firm's strategy follows the Qiantang New Area's strategic designation of these sectors for economic development.

Lilly Asia Ventures appears as a frequent co-investor alongside Hangzhou Heda in healthcare and pharmaceutical rounds, including known positions in Lynk Pharmaceuticals. The relationship provides Hangzhou Heda direct exposure to venture-stage life science deals sourced by an established healthcare specialist.