# Puying Capital

Puying Capital is a Private Equity based in Hangzhou, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Hangzhou, China
- **Founded:** 2016
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Puying Capital is a private equity firm based in Hangzhou, China. It focuses on venture capital investments. The firm has a team of 13 employees.

## Questions

### What is Puying Capital's investment strategy?

Puying Capital deploys a hybrid strategy that combines direct investments in early and growth-stage Chinese technology companies with fund-of-funds commitments to external venture managers. This dual approach allows the firm to generate returns through direct startup exposure while diversifying across strategies and gaining market intelligence from its limited partner positions. Specific sector preferences have not been publicly disclosed.

### How does Puying Capital's fund-of-funds activity complement its direct investing?

Through its fund-of-funds commitments, Puying Capital gains exposure to venture strategies and portfolio companies that fall outside its direct origination capabilities. This structure provides diversification benefits and market intelligence that can inform the firm's own direct investment decisions. The dual structure also helps smooth vintage-year concentration risk inherent in pure direct-investment approaches.

## Related profiles

- [Puthen & Cole](https://altss.com/profile/puthen-and-cole)
- [Puyuan Capital](https://altss.com/profile/puyuan-capital)

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

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