Sansheng Venture Capital

Sansheng's sourcing model relies on Lin Jinfeng's network of former technology operators — engineers and founders who identify early-stage companies before they enter broad auction processes. This scout network provided access to deals outside the competitive Zhongguancun ecosystem, where term sheets from larger funds often arrived pre-emptively. The model works through trusted relationships rather than inbound pitch volume.

Sansheng's confirmed sector coverage includes enterprise software, artificial intelligence and machine learning, fintech infrastructure, and mobility technology. The firm also has exposure to digital health. Sansheng avoided consumer-internet marketplace models that dominated Chinese venture portfolios during the 2010s, instead focusing on B2B technology infrastructure.

Sansheng primarily executes direct investments and does not publicly participate as a limited partner in external funds. The firm takes board seats in nearly every portfolio company, reflecting a high-conviction, concentrated approach rather than a fund-of-funds or passive LP strategy.