Shanghai Fengjin Investment

Jin Biao, the founder, owns a 90% stake and serves as Executive Director, making him the controlling decision-maker. His family member Jin Yizhong holds the remaining 10% and serves as Supervisor. This concentrated ownership means investment approvals are principal-driven and do not require an external investment committee.

It functions as a hybrid. The firm is legally structured as an investment company with 100% of equity held by the founder and a family member, which is typical of a single-family office. However, its activities — co-investing in venture rounds alongside fund managers and holding direct real estate — look more like a proprietary asset manager than a third-party fund.

The firm's documented investments cluster in healthcare services — particularly Chinese medicine and consumer health — and Shanghai real estate. It has co-invested with Haozhou Rongcheng Investment Fund Management in healthcare startup rounds and partnered with Shanghai New World Co., Ltd. on a Chinese medicine beverage venture.

There is no public record of the firm raising third-party limited partner commitments. Its disclosed structure — with 90% ownership held by the founder and 10% by a family member serving as Supervisor — strongly suggests the capital is founder- and family-provided.

It is a philanthropic initiative associated with Shanghai Fengjin Investment. The Dream Fund operates in the Oriental Beauty Valley, a Shanghai biotech and healthcare hub, aligning charitable activity with the firm's healthcare investment focus. Structural separation between the investment company and the foundation is not publicly detailed.