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Hangzhou Hegang Venture Capital
Jin Yufeng leads state-backed Hangzhou Hegang Venture Capital, a generalist VC investing from seed to growth and co-investing with Lilly Asia Ventures.
Hangzhou Hegang Venture Capital
Hangzhou Hegang Venture Capital is a Hangzhou-based investment company. It has invested in nine funds. Its regional focus is Asia.
General information
Firm type
Venture Capital
Location
Region
Asia
Country
China
City
Hangzhou
Corporate office
Hangzhou, Zhejiang, China
Principals
Jin Yufeng
Legal Representative
Sector focus
Frequently asked questions
Who controls Hangzhou Hegang Venture Capital?
The firm is majority-owned by the Hangzhou Qiantang New District Industrial Development Group, with ultimate control residing in the Qiantang New Area Management Committee, a government body overseeing the district. Jin Yufeng is the legal representative.
What is the Hangzhou New Track investment vehicle?
It is a partnership between Hangzhou Hegang Venture Capital and Tasly Biopharmaceutical Industry Group. The vehicle targets life sciences and biotech startups, aligning with Hangzhou's push to become a healthcare innovation hub.
Does Hegang co-invest with international firms?
Yes. Hegang has co-invested alongside Lilly Asia Ventures, notably in Lynk Pharmaceuticals.
What investment stages does the firm target?
Hegang invests from seed and startup rounds through to expansion and late-stage deals. It also makes fund-of-funds commitments.
How does Hegang source deals?
Deal flow is heavily influenced by the Qiantang New District's industrial policy. Startups seeking to locate in the district or align with Hangzhou's strategic sectors — such as biotech and advanced manufacturing — form the core pipeline.
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