# IDG Capital

IDG Capital is an Asset Manager based in Hong Kong, China.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Hong Kong, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 1992
- **Assets under management:** $10B to $20B (Altss estimate)
- **Website:** idgcapital.com

## Regulatory record

- **CRD number:** 306442
- **SEC file number:** 802-118825
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/306442

## About

IDG Capital Mega is a Hong Kong-based investment adviser registered with the SEC since 2020. It provides investment advice to clients. The firm has its headquarters in Hong Kong.

## Sectors

- Enterprise Software
- FinTech
- Digital Health
- AI/ML
- Consumer Tech
- ClimateTech
- Mobility & Transportation
- Media & Entertainment

## Offices

- Shanghai
- Hong Kong
- Boston
- Silicon Valley

## People

- Patrick J. McGovern — Founder
- Hugo Shong — Chairman
- Chi-man Kwan — Managing Partner
- Yanbing Li — Managing Partner

## Questions

### Who runs investment decisions at IDG Capital?

Hugo Shong serves as Chairman. Chi-man Kwan and Yanbing Li are Managing Partners overseeing investment strategy. The firm operates with a committee-based structure for major decisions.

### Does IDG Capital participate in fund commitments or only direct deals?

IDG Capital primarily operates through direct investments — both venture and buyout — but also makes fund commitments and co-investments alongside institutional partners.

### What investment stages does IDG Capital typically target?

The firm spans early-stage venture (seed to Series A), growth equity (Series B to pre-IPO), and buyout (controlling stakes in mature companies).

### Which sectors does IDG Capital typically avoid?

The firm does not publicly disclose avoidance sectors, but its portfolio lacks exposure to heavy industry, oil and gas, and traditional manufacturing outside tech.

### How is IDG Capital related to IDG (International Data Group)?

IDG Capital was originally the venture arm of IDG but spun out in the 2000s to operate as an independent asset manager. The two entities retain loose ties through shared history but do not share capital or governance structures today.

## Related profiles

- [Thompson & Thompson Investment Advisors](https://altss.com/profile/thompson-and-thompson-investment-advisors-inc)
- [Southern Magnolia Investment Management](https://altss.com/profile/southern-magnolia-investment-management-llc)

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Last updated: 2026-06-03T20:00:00.000Z

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