PLD Capital

The firm targets China's technology sector, with a primary focus on the hydrogen value chain within the energy transition and on high-end equipment and advanced manufacturing. Its exposure spans the carbon-neutrality ecosystem and smart industrial systems. The firm describes these as its two core thematic pillars.

PLD Capital invests across the venture spectrum, from seed and early-stage rounds through growth equity and pre-IPO placements. The firm states it maintains a long-term approach, staying with companies through multiple funding rounds toward public listing.

The firm manages both RMB and cross-border investment programs. It operates six global offices and draws on a network of more than 50 external industry experts that includes overseas partners, which supports international business development for its portfolio companies.

It runs what the firm calls 'deep empowerment' — connecting portfolio companies to downstream industrial partners, specialist institutions, and overseas collaborators. The 50-plus external expert network is used to help companies expand operations and improve management capabilities.

The firm reports that multiple portfolio companies have completed IPOs. It discloses a maximum realized DPI of 3.2 across its funds and states roughly 70% of active portfolio companies are positioned to go public within two years. Specific exited names and fund vintages behind the DPI figure are not publicly disclosed.