Shanghai Hefu Investment Management

Executive Director Zhao Hao oversees day-to-day investment operations, while the firm's strategic direction is set by co-founders Yan Hao and Chen Xin Ge, the controlling figures behind parent company Jingrui Holdings. This creates a dual-layer governance where real estate development expertise and investment allocation are managed by separate operating executives.

Shanghai Hefu Investment Management is the direct investment vehicle for the founders of Jingrui Holdings, a Hong Kong-listed Chinese property developer. The investment firm operates independently as an asset manager but draws its capital from the founders' personal wealth generated through Jingrui's real estate operations across more than 20 Chinese cities.

Hefu covers the full venture spectrum from seed and start-up rounds through expansion and late-stage growth equity. The firm's dual identity as both real estate operator and venture investor means it can hold positions over multiple funding cycles without facing the divestment pressure typical of blind-pool venture funds.

Hefu concentrates its real estate activity in the Yangtze River Delta, with completed projects in Shanghai, Hangzhou, Suzhou, Ningbo, and Wuxi, alongside 19 other Chinese cities. The firm's venture investments are primarily domestic China-focused, aligned with the founders' market knowledge and business networks in mainland technology and consumer sectors.

Hefu operates primarily as a proprietary investment platform for the Jingrui Holdings founders' capital, but its real estate joint ventures with LaSalle Investment Management and Century Bridge Capital introduce external institutional capital on a deal-by-deal basis. There is no public record of the firm raising a blind-pool fund from third-party limited partners.