# TusStar

TusStar is a Private Equity based in Beijing, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** www.tusstar.com
- **LinkedIn:** https://www.linkedin.com/company/%e5%90%af%e8%bf%aa%e4%b9%8b%e6%98%9f

## Regulatory record

- **Reports private funds:** No

## About

TusStar is a business incubator and seed investor focused on the technology sector. Founded in 1999 in Beijing, China, it develops business platforms for high-tech park firms. TusStar has made 231 investments, including a seed investment in Beichen Biotech on April 02, 2026.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- Robotics & Automation
- Energy Transition & Renewables
- Mobility & Transportation

## People

- 王济武 — founder
- 张金生 — founder
- 刘雪良 — partner

## Questions

### How does TusStar source proprietary deal flow?

TusStar's primary sourcing advantage is its integration with Tsinghua University's research ecosystem. The firm maintains formal relationships with Tsinghua's technology transfer office, departmental laboratories, and faculty-led spinout initiatives, giving it early visibility into companies formed around university intellectual property. Its network of physical incubator spaces across China also functions as a scouting infrastructure, attracting pre-institutional startups that apply for space and mentorship. Alumni referrals from Tsinghua's engineering and business programs further supplement deal flow that is often inaccessible to purely financial venture firms.

### Does TusStar participate in fund commitments or only direct deals?

TusStar primarily invests directly into operating companies through equity rounds from seed to growth stages. The firm occasionally anchors or participates in venture funds alongside other limited partners, particularly those co-managed with regional government guidance funds. It does not operate as a fund-of-funds and does not publicly report commitments to external venture capital firms as a core strategy.

### How is TusStar related to Tus-Holdings and Tsinghua University?

TusStar is a wholly owned subsidiary of Tus-Holdings, the industrial and investment holding company established by Tsinghua University in 2000 to manage its commercial assets and technology commercialization efforts. Tsinghua University is the ultimate controlling shareholder of Tus-Holdings. This ownership structure means TusStar's investment activities are indirectly guided by the university's strategic priorities around research translation and national innovation policy.

## Related profiles

- [Tus-NS Capital](https://altss.com/profile/tus-ns-capital)
- [TVC Capital](https://altss.com/profile/tvc-capital)

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Last updated: 2026-07-10T13:03:51.000Z

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