NX Fund

The co-founders, Sun Tingting and Stefanie, lead investment activity. They do not disclose additional investment committee members. Both maintain active roles at Mumin Capital, the advisory firm they each helped build.

Sourcing is anchored in the principals’ concurrent roles at Mumin Capital, a Chinese new-economy boutique investment bank focused on consumer and technology. That advisory work surfaces early-stage consumer founders, effectively giving NX Fund a pipeline of pre-vetted companies.

Yes. NX Fund shares a founder group with Mumin Capital: Stefanie co-founded Mumin Capital in 2015, and Sun Tingting joined as a partner in 2016. Both serve as partners at Mumin Capital while operating NX Fund, which was created in 2020. The firms operate within the same team but maintain distinct legal identities — Mumin as an advisory boutique, NX Fund as an early-stage venture investor.

NX Fund focuses on early-stage consumer investments, specifically seed and start-up rounds. The firm does not indicate involvement in growth equity, pre-IPO, or later-stage structured capital.

The firm targets consumer brands, consumer technology, and what it terms “consumption upgrade.” No sector exclusions are published, but the record provides no evidence of investment outside consumer-related categories.

Public materials describe only direct early-stage investments. There is no mention of fund-of-fund commitments, LP investments in other managers, or secondary market activity.

The firm’s website does not name specific portfolio companies, and no exits or recent deals have been publicly announced. Institutional performance data is not available.