Hangzhou Youxiang Investment Management

Yuanyuan Liu serves as Executive Director and is the primary named principal running the firm, a role she has held since October 2017. Her parallel board position as Independent Director at WiMi Hologram Cloud suggests an investment process deeply informed by direct operational insights, particularly within the enterprise software and hardware sectors.

While the firm does not publicly detail its sourcing methods, the link between Executive Director Yuanyuan Liu and WiMi Hologram Cloud's chairman Jie Zhao indicates a network-driven approach common to Chinese early-stage investors. The firm's ability to enter a syndicate alongside a major institution like Hillhouse Investment further suggests a successful, relationship-based origination model.

The firm's strategy, based on public records, is oriented entirely around direct, minority equity investments in early-stage companies. Its co-investment with Hillhouse in ePropulsion Innovation's Series B round confirms a model built on placing direct bets in specific startups rather than operating as a fund-of-funds.

The firm's disclosed activities point to a primary focus on enterprise software and industrial technology. Holdings and co-investments align with AI, mobility, and hardware subsets, with a specific demonstrable interest in businesses like WiMi Hologram Cloud (augmented reality) and ePropulsion Innovation (electric marine propulsion).

The relationship is a key structural feature of the firm. Executive Director Yuanyuan Liu serves as an Independent Director on WiMi's board, while WiMi's chairman, Jie Zhao, is a known business associate. This creates an unusually tight coupling between a public operating company and a private-stage investment manager, providing a firsthand vantage point on sector trends.