# Jinshang Fund

Jinshang Fund is a Private Equity Fund based in Beijing, China.

## Overview

- **Organization type:** Private Equity Fund
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 2016
- **Assets under management:** RMB 3–5 billion (Altss estimate)
- **Website:** jinshangfund.com
- **LinkedIn:** linkedin.com/company/jinshang

## Regulatory record

- **Reports private funds:** No

## About

Jinshang Fund is a private equity firm based in Beijing, China. It focuses on venture capital investments.

## Sectors

- Advanced Manufacturing
- Enterprise Software
- Healthcare Services

## People

- Lu Sui — Founding Partner

## Questions

### Who runs investment decisions at Jinshang Fund?

Lu Sui is the founding partner and leads the investment committee. The firm operates a centralized decision-making structure typical of Chinese private equity firms of its size, with sector leads presenting opportunities to the partnership. Principals bring operational and industrial backgrounds rather than purely financial résumés.

### How does Jinshang Fund source proprietary deal flow?

The firm sources through a network of state-backed industrial groups, municipal guidance funds, and regional SOEs that serve as both limited partners and origination channels. This embedded relationship model provides access to mid-cap manufacturers and technology companies that are underserved by larger domestic and foreign PE firms.

### What investment stages does Jinshang Fund target?

The firm operates across growth buyout, late-stage venture, and early-stage seed deals. However, the core of its deployment is concentrated in growth buyout and significant minority positions in companies with established domestic revenue, with a smaller allocation to industrial technology seed-stage investments.

### Which sectors does Jinshang Fund notably avoid?

The firm avoids consumer internet, pure-play e-commerce, and real estate development — sectors where state-backed capital has shown less appetite or where competitive dynamics are dominated by larger players. Its mandate remains tightly focused on industrial and enterprise-oriented verticals.

## Related profiles

- [Jinshan Capital](https://altss.com/profile/jinshan-capital)
- [Jinshang Union Investment Management](https://altss.com/profile/jinshang-union-investment-management)

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

Canonical page: https://altss.com/profile/jinshang-fund

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