# Mulan Investment

Mulan Investment is a Private Equity based in Shanghai, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Shanghai, China
- **Region:** Asia
- **Address:** Shanghai, China
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** www.hmlfund.com

## Regulatory record

- **Reports private funds:** No

## About

Mulan Investment is a private equity firm based in Shanghai, China. It focuses on venture capital investments. The firm has a team of 5 employees.

## Questions

### What investment stages does Mulan Investment cover?

Mulan Investment operates across the full venture continuum, from seed and early-stage start-up rounds through expansion and late-stage venture to pre-IPO placements. The firm's mandate spans early-stage, general venture, and late-stage private equity within a single investment vehicle structure, per its stated strategy.

### Does Mulan Investment focus exclusively on China-based companies?

Mulan Investment is headquartered in Shanghai, China, and its investment activity is oriented toward the domestic Chinese market. No publicly disclosed international offices or cross-border deal flow have been reported, making it a China-focused private equity manager by structure and geography.

### How does Mulan Investment approach follow-on investments?

The firm's multi-stage mandate is designed to provide follow-on capital to portfolio companies as they advance from seed to pre-IPO rounds. This continuous-capital model means earlier-stage positions can be reinforced in later rounds, creating an internal pipeline that reduces reliance on outside syndicate partners for growth-stage top-ups.

## Related profiles

- [Muirlands Capital](https://altss.com/profile/muirlands-capital)
- [Mulana Capital](https://altss.com/profile/mulana-capital)

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

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