# LightHouse Capital Management

LightHouse Capital Management is a Private Equity based in 1003 Lausanne, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** 1003 Lausanne, China
- **Region:** Asia
- **Address:** Shanghai, China
- **Founded:** 2019
- **Assets under management:** Undisclosed
- **Website:** www.lighthousecapital.cn
- **LinkedIn:** https://www.linkedin.com/company/lighthouse-capital-management

## Regulatory record

- **CRD number:** 172284
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-05-18T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/172284

## About

LightHouse Capital Management is a venture capital fund focused on investments in China and the United States. The firm has made 26 investments, including a Seed VC investment in HiStarlink on October 17, 2024. LightHouse Capital Management has facilitated three portfolio exits, with Quna exiting on May 27, 2024.

## Sectors

- Hardware
- Enterprise Software
- Mobility & Transportation
- Consumer Tech
- Healthcare Services
- Education

## People

- Minglie Hu — Partner
- Zhe Li — Founding Partner, President
- Qianqian Yang — Partner
- Gang Qin — Partner

## Questions

### Who runs investment decisions at LightHouse Capital Management?

Four named partners lead the firm: founding president Zhe Li, Minglie Hu, Qianqian Yang, and US-based Gang Qin. Li shaped the early portfolio with bets on DJI and Hesai. Yang covers internet consumer and culture deals. Qin manages US sourcing and board roles from Silicon Valley, while Hu oversees the firm alongside his role as CEO of a Hong Kong-listed manufacturing company.

### How does LightHouse source deal flow across China and the US?

The Shanghai partnership originates domestic hardware and internet deals, while Gang Qin runs a dedicated US origination effort from California — covering Silicon Valley, Los Angeles, Seattle, and Pittsburgh. The firm does not operate a scouting network or accelerator. Cross-border sourcing flows through the same four-partner investment committee.

### Does LightHouse manage RMB or USD funds?

Both. The firm has raised and managed at least two RMB-denominated vehicles and one USD fund. The USD vehicle supports the US portfolio, while the RMB funds back domestic Chinese companies.

### Which portfolio companies are most central to LightHouse's track record?

The two signature bets are DJI, the global drone manufacturer, and Hesai Technology, a lidar producer whose systems are used in autonomous vehicles. The firm's website states these and other holdings have driven the aggregate portfolio market capitalization above USD $10 billion.

### What stage of investment does LightHouse typically target?

Seed, start-up, and early-stage venture. The firm does not publicly disclose growth-stage or late-stage participation beyond its initial entry points.

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- [Life Science Vision Capital](https://altss.com/profile/life-science-vision-capital)
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Last updated: 2026-06-03T20:00:00.000Z

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