# Space Star Venture Investment Management

Space Star Venture Investment Management is a Venture Capital based in Shanghai, China.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Shanghai, China
- **Region:** Asia
- **Address:** Shanghai, China
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** spacestarvc.com

## Regulatory record

- **Reports private funds:** No

## About

Space Star Venture Investment Management is a Shanghai-based private equity firm that focuses on venture capital investments.

## Sectors

- Aerospace & Defense
- AI/ML
- Robotics & Automation
- Enterprise Software
- Industrial Tech

## People

- Ouyang Xiangyu — Founding Partner

## Questions

### Who runs investment decisions at Space Star Venture?

Founding Partner Ouyang Xiangyu is the firm's key decision-maker and investment committee anchor. Before founding Space Star in 2015, Ouyang built a career spanning engineering roles and technology investment in China. The firm operates with a lean, founder-led structure where all material capital-allocation calls run through Ouyang and a small team of partners with technical degrees in aerospace, electronics, and materials science.

### How does Space Star Venture source proprietary deal flow?

Space Star's sourcing model relies on deep institutional ties to China's research-academy system, including the Chinese Academy of Sciences and major engineering universities. The firm also accesses military-civilian fusion projects — defense technologies being commercialized for private markets — and maintains relationships with provincial aerospace development zones. This gives Space Star line-of-sight to spinouts and early-stage teams that generalist venture funds rarely see before a Series A round.

### Does Space Star Venture invest only in China?

Space Star's investment mandate is overwhelmingly domestic, with portfolio companies concentrated in Shanghai, Beijing, Xi'an, and Chengdu — China's core aerospace and advanced-manufacturing hubs. The firm has not publicly disclosed a dedicated cross-border investment program, though it monitors dual-use technologies with export potential. Its LP base and regulatory posture keep capital deployment firmly within mainland China.

### Which sectors does Space Star Venture explicitly avoid?

The firm does not invest in consumer internet, retail, social media, or business-model-innovation plays that dominated Chinese venture capital through the 2010s. It also avoids therapeutics and clinical-stage biotech, maintaining strict focus on engineering-driven categories: propulsion, satellite subsystems, industrial robotics, lidar and sensors, semiconductor tooling, and AI infrastructure. Space Star is effectively a negative screen against anything that does not require a physics or electrical-engineering PhD to diligence.

### What is Space Star Venture's known posture on co-investments alongside external GPs?

Space Star frequently leads or co-leads early rounds and will syndicate later-stage follow-ons with state-affiliated funds such as CAS Star and CICC Capital. The firm runs a collaborative co-investing model with other deep-tech and industrial investors rather than operating an exclusive proprietary-deal structure. Institutional allocators considering co-investment sidecars should expect Space Star to offer selective access on a deal-by-deal basis across its largest industrialization-stage rounds.

## Related profiles

- [Sowalfin](https://altss.com/profile/sowalfin)
- [SpaceHD Ventures](https://altss.com/profile/spacehd-ventures)

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

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