Lihebo Capital

He Boquan, the Founder and Chairman, serves as the sole investment committee member. He built his fortune as Chairman of Gree Electric Appliances and retains final approval authority over every allocation. This centralized structure applies whether the deal is a Seed-stage check or a growth-equity follow-on.

The capital originates from He Boquan's 2007 divestiture of a controlling stake in Gree Electric Appliances, China's largest residential air-conditioner manufacturer. The sale generated a liquidity event of sufficient scale to fund a dedicated investment platform without external limited partners. No subsequent capital raises from outside families or institutions have been disclosed.

Lihebo is a hybrid: legally structured as a single-family office managing proprietary capital, but operationally it functions like a venture capital firm, leading early-stage rounds and taking board seats. Unlike a conventional VC, it has no fund life constraints and no external LP reporting obligations, which allows indefinitely long holding periods.

The firm concentrates on Seed and Series A rounds, particularly in enterprise software, industrial technology, and AI/ML. It has demonstrated willingness to follow on through growth stages, as seen in its continued support of Megvii through multiple funding rounds leading to the company's eventual IPO filing.

Yes, Lihebo co-invests with both Chinese and US-based venture funds, particularly in cross-border deals where its speed of execution is valuable. Confirmed co-investors include Qiming Venture Partners and Gaorong Capital on several enterprise technology deals (per public record). The firm does not operate as a fund-of-funds and does not commit capital to third-party blind-pool vehicles.