# RIC Capital Management

RIC Capital Management is a Multi Family Office based in Washington, China.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Washington, China
- **Region:** Asia
- **Address:** Shanghai, China
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** ric-cap.com
- **LinkedIn:** https://www.linkedin.com/company/ric-capital-management

## Regulatory record

- **CRD number:** 167317
- **Latest Form ADV filing:** 2026-05-20T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/167317

## About

Ruifen Xu established RIC Capital Management in Shanghai in 2009. She previously worked as a portfolio manager at Dow Chemical Pension Fund. The firm delivers investment management and advisory services to multiple families focused on long-term capital preservation. RIC Capital Management deploys capital into private equity, startups, and sports franchises. Confirmed positions include Onemile Folding Electric Vehicles and Hangzhou Senior Housing Development Project. The firm covers early-stage, growth, and middle-market investments across Asia and South America. It also participated in the COVID-19 PPE Global Supply Initiative. The team maintains affiliations with Columbia University Shanghai Alumni Association and Shanghai Angel Association. Ruifen Xu holds board and council roles in these networks. No additional offices or professional headcount figures appear in available records. The firm maintains a hybrid structure that combines direct investments with club participation through Haitian Club and Zhongguancun Equity Investment Association.

## Sectors

- Sports & Wellness
- EdTech
- PropTech

## People

- Ruifen Xu — Founding Partner

## Questions

### Who runs investment decisions at RIC Capital Management?

Ruifen Xu serves as Founding Partner and leads decisions. She previously managed portfolios at Dow Chemical Pension Fund.

### How does RIC Capital Management source proprietary deal flow?

The firm draws on affiliations with Shanghai Angel Association, Haitian Club, and Columbia University Shanghai Alumni Association.

### Does RIC Capital Management participate in fund commitments or only direct deals?

Available records show direct investments and co-investments alongside club partners rather than broad fund commitments.

### What investment stages does RIC Capital Management typically target?

The firm targets early-stage, growth, and middle-market opportunities.

## Related profiles

- [R Holding](https://altss.com/profile/r-holding)
- [RIC Consulting](https://altss.com/profile/ric-consulting)

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

Canonical page: https://altss.com/profile/ric-capital-management

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