Sanxia Green Industry

Sanxia Green Industry is the dedicated venture-capital arm of China Three Gorges Corporation, the state-owned enterprise that owns and operates the Three Gorges Dam. The firm was created to reinvest a portion of the dam's hydroelectric power revenues into Chinese clean-technology startups. This structure makes it a corporate VC with a policy mandate, rather than a financially independent fund manager.

The firm invests across the venture spectrum — from seed-stage deep-tech startups to growth-equity rounds and pre-IPO placements in China's clean-energy supply chain. Its capital structure, funded by operating revenues rather than time-limited LP commitments, allows it to support portfolio companies across longer commercialization timelines than typical venture funds, particularly in capital-intensive areas like battery manufacturing and grid infrastructure.

The firm's investment mandate is concentrated in mainland China, where most of its portfolio companies are based. However, there is evidence of selective co-investment activity in Southeast Asian clean-energy infrastructure projects, consistent with the parent company's broader Belt and Road Initiative engineering contracts. The firm does not maintain a disclosed office outside Beijing.

Since the firm draws its investment capital from the operating cash flows of a fully depreciated hydroelectric asset — the Three Gorges Dam — it does not face the same LP return-pressure timeline as market-funded climate VCs. This structural advantage allows it to underwrite longer hold periods for portfolio companies that require extended technology-commercialization cycles, a genuine differentiator in capital-intensive sectors like solid-state battery production and grid-scale storage deployment.

No. Sanxia Green Industry does not publicly report its AUM. The parent company, China Three Gorges Corporation, holds total assets exceeding ¥600 billion, but the specific capital allocation to the venture arm is not broken out in public filings. No third-party data vendor has published a verified AUM figure for the fund.