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Quanzhou Heng'an Shidai Venture Capital
Quanzhou Heng'an Shidai Venture Capital operates as the direct investment arm for the principals behind Hengan Group, the Fujian-based hygiene products...
Quanzhou Heng'an Shidai Venture Capital
Quanzhou Heng'an Shidai Venture Capital operates as the direct investment arm for the principals behind Hengan Group, the Fujian-based hygiene products conglomerate. The entity was established following the vast wealth creation of Hengan's public listing, formalizing the investment activities of co-founders Xu Lianjie and Sze Man Bok. The underlying fortune originates from Hengan's dominance in China's tissue, diaper, and sanitary napkin markets. The firm pursues a growth-stage equity strategy, concentrating on consumer goods, manufacturing, and adjacent sectors within mainland China's industrial corridors. It functions primarily as a corporate venture capital vehicle rather than an institutional fund manager, with its capital base anchored to the families' holding entities including Lianjie Investments Group. Known positions are closely held and typically unreported, reflecting the private nature of family-directed investment operations. Succession dynamics define the current structure following Xu Lianjie's death in 2025. Hui Ching Lau, Xu's son, controls Lianjie Investments Group, while Sze Wong Kim, son of co-founder Sze Man Bok, serves as an executive director at the publicly listed Hengan International. The venture entity draws leadership from this second generation, who steward the families' liquid wealth. Adjacent assets include the Hong Kong-registered Karrion Development Limited and Xiamen Anjian Real Estate, extending their footprint into commercial property. The firm's structural differentiator lies in its embedded relationship with Hengan Group's operating business and supply chain. Unlike independent venture funds, it can diligence and execute deals using industrial insights from the family's core manufacturing enterprise. Investment decisions remain tightly held within the Xu and Sze family offices, with no external limited partners or public reporting obligations.
General information
Firm type
Corporate Investor
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Quanzhou
Corporate office
Quanzhou, Fujian, China
Principals
Sze Man Bok
Co-founder and Chairman of Hengan Group
Hui Ching Lau
Managing Director, Lianjie Investments Group Limited
Sze Wong Kim
Executive Director, Hengan International
Sector focus
Frequently asked questions
Who runs investment decisions at Quanzhou Heng'an Shidai Venture Capital?
Decision-making authority sits with the second generation of the Xu and Sze families. Hui Ching Lau, son of late co-founder Xu Lianjie, manages the family's principal investment vehicle Lianjie Investments Group. Sze Wong Kim, son of Hengan Chairman Sze Man Bok, provides oversight as an executive director at the publicly traded parent company. The structure concentrates authority within the founding families without external fund governance.
Where does the underlying wealth come from?
The capital originates from Hengan Group, the Fujian-based manufacturer of sanitary napkins, diapers, and tissue products. Co-founded by Xu Lianjie and Sze Man Bok, Hengan grew to dominate China's personal hygiene market and listed on the Hong Kong Stock Exchange. The families' fortune is publicly visible through their disclosed stakes in Hengan International Group.
How is Quanzhou Heng'an Shidai Venture Capital related to Hengan Group?
It functions as a distinct corporate investment vehicle for the controlling families of Hengan Group, rather than an operating division of Hengan International itself. While the venture entity sources its capital from the founders' personal and holding-company wealth, the publicly listed operating company maintains separate treasury and governance structures. The two share a common set of ultimate beneficial owners.
Does the firm invest in fund commitments or only direct deals?
The firm's activity is concentrated in direct equity investments, consistent with a corporate family office model. Quanzhou-based records indicate it deploys capital directly into growing Chinese companies, often alongside other regional family investors. Related entities such as Fujian Septwolves Group have participated as co-investors and limited partners in regional fund structures, suggesting some indirect exposure is possible.
What investment stages does Quanzhou Heng'an Shidai Venture Capital typically target?
The firm's stated strategy emphasizes growth-stage investments. This capital targets established Chinese consumer and manufacturing businesses that have moved beyond early venture risk and are scaling revenue. The principals' industrial background at Hengan provides a natural lens toward businesses at the intersection of manufacturing scale and consumer distribution.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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