Marathon Venture Partners

The firm operates as a generalist venture capital investor, participating across the full lifecycle from seed and start-up rounds through late-stage expansion. It targets technology companies in China, with a focus on sectors such as enterprise software and artificial intelligence where founder moats and technical differentiation are strong. The strategy does not appear restricted to a single stage or vertical, allowing flexibility as China's tech landscape shifts.

The firm's defining structural feature is its domestic concentration: a single Beijing office, no disclosed US or Singapore vehicle, and a generalist venture mandate that spans seed through late stage. This architecture suits renminbi fundraising and aligns with China's policy preference for onshore investment. For international allocators, however, it means the firm operates almost entirely outside the English-language reporting and data-vendor ecosystem.