Jiuyouque Capital

Jiuyouque Capital

Wu Shichun established Jiuyouque Capital in 2015 as a Hangzhou-based venture firm focused on early-stage technology investments. The firm emerged during a wave of Chinese venture formation and has since grown its portfolio to encompass more than 200 portfolio companies. Unlike consumer-internet investors who chased platform scale, Jiuyouque oriented its capital toward enterprise technology, industrial automation, and foundational AI applications. Jiuyouque deploys primarily at seed and Series A stages, with occasional participation in growth rounds and select PIPE transactions for later-stage tech companies. The firm's portfolio spans enterprise software, AI/ML, industrial technology, fintech, and digital health. Confirmed investments include AI-chip startup Enflame Technology and robotics firm Rokae. Geographic focus concentrates on China's startup ecosystems, with Hangzhou and Beijing as primary origination hubs. Team size and total committed capital remain undisclosed. The firm maintains its sole office in Hangzhou. In May 2023, portfolio company Enflame Technology raised a Series D round reportedly valued at over RMB 10 billion, signaling continued conviction in AI infrastructure positions (per 36Kr, 2023). Jiuyouque has not disclosed membership in formal co-investment clubs or adjacent philanthropic vehicles. Jiuyouque's structural differentiator is its persistent focus on hard technology during a period when many Chinese early-stage firms chased consumer-scale bets. The firm writes early checks into chip design, robotics, and enterprise AI — categories that demand longer holding periods and deeper technical evaluation. This aligns Jiuyouque more with a specialized hard-tech allocator than a generalist China venture platform.