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Jiangsu Jiuzhou Investment Group
Canfang Liu established Jiangsu Jiuzhou Investment Group in 1988, headquartered in Changzhou, Jiangsu province.
Jiangsu Jiuzhou Investment Group
Canfang Liu established Jiangsu Jiuzhou Investment Group in 1988, headquartered in Changzhou, Jiangsu province. The group evolved from industrial roots into a diversified investment platform that deploys capital across venture capital, real estate development, financial trade, and industrial manufacturing. Its most visible relationship is with Jifan Gao, chairman of Trina Solar — Jiuzhou was an early backer and remains a strategic partner to Gao, anchoring the firm's long-standing exposure to China's solar manufacturing buildout. Jiuzhou's venture capital activity spans early-stage and growth-equity positions, with a disclosed focus on advanced manufacturing and clean-energy technology. The real estate portfolio is concentrated in Changzhou and includes the mixed-use Jiuzhou New World and Shunshan Town projects, the residential Jiuzhou Garden, and the commercial Jiuzhou Century Plaza. A legacy copper-tube production line provides operating-company cash flow that diversifies the group's income beyond carried interest and asset appreciation. Geographic deployment is primarily Jiangsu province, with venture co-investments reaching into China's broader Yangtze River Delta innovation corridor. President Shijin Luo oversees day-to-day operations under Liu's chairmanship. The group participates in the Jiangsu Venture Capital Association, signaling embeddedness in provincial deal networks rather than a nationally branded fundraising apparatus. Jiuzhou operates no disclosed offshore vehicle or parallel USD fund structure, which concentrates its investment activity within China's domestic regulatory perimeter. In September 2023, Trina Solar announced a $200 million manufacturing expansion in Texas — a deal that traces Jiuzhou's indirect influence into US solar supply chains through its relationship with Gao (per Reuters, September 2023). Jiuzhou's structural differentiator is its hybrid industrial-investment model: a captive copper-tube business generates operating income that funds venture commitments and real-asset development, reducing reliance on third-party LP capital. The group also maintains a dedicated philanthropic entity, Jiangsu Jiuzhou Investment Group Philanthropy, though no separate foundation governance structure has been publicly detailed. For institutional allocators, the firm functions as a single-family office-style vehicle with generalist reach — less a blind-pool fund than a principal investor trading off a legacy industrial balance sheet.
General information
Firm type
Generalist
Year founded
1988
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Changzhou
Corporate office
Changzhou, Jiangsu, China
Principals
Canfang Liu
Chairman
Shijin Luo
President
Sector focus
Frequently asked questions
Who runs investment decisions at Jiangsu Jiuzhou Investment Group?
Founder and chairman Canfang Liu holds controlling authority over the group's investment decisions. President Shijin Luo manages operational execution. The firm does not publish an investment committee roster or delegate authority to external managers, consistent with a founder-controlled family-office posture (public record).
What is the firm's relationship with Trina Solar?
Jiuzhou was an early investor in Trina Solar and maintains a strategic partnership with chairman Jifan Gao. Gao is listed as a business partner of the group. This relationship gives Jiuzhou direct exposure to Trina's global solar-manufacturing operations, including its September 2023 Texas facility announcement (per Reuters, September 2023).
Does Jiangsu Jiuzhou Investment Group manage external capital or only its own?
Jiuzhou operates primarily as a principal investor deploying its own balance-sheet capital, sourced from industrial operating income and realized investment gains. The firm has not publicly disclosed any third-party LP fund structures or external capital-raising mandates, which distinguishes it from a conventional asset manager marketing to institutional allocators.
What real estate assets does the group hold?
The group's real estate portfolio is concentrated in Changzhou, Jiangsu, and includes Jiuzhou New World (mixed-use), Shunshan Town (mixed-use), Jiuzhou Garden (residential), and Jiuzhou Century Plaza (commercial). These are development and holding-company assets rather than fund-level real estate positions (public record).
Does Jiuzhou participate in fund commitments or only direct deals?
Available public disclosures describe direct venture capital and real estate investments. The firm's membership in the Jiangsu Venture Capital Association suggests co-investment activity alongside provincial peers, but no fund-of-funds commitments or LP positions in external vehicles have been publicly confirmed.
What is the copper-tube business, and how does it relate to the investment portfolio?
Jiuzhou retains an operating copper-tube manufacturing line that predates its investment-group structure. This industrial business generates cash flow used to fund venture and real estate commitments, giving the group a hybrid operating-company/investment-platform posture that reduces its dependence on external fundraising.
Where does the underlying wealth come from?
Chairman Canfang Liu built the group's initial capital base through industrial manufacturing in Changzhou beginning in 1988. The copper-tube business provided early cash flow, later supplemented by realized gains from venture investments — most notably the early Trina Solar stake — and property development returns.
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