V Fund

V Fund operates across the full company lifecycle, from seed and start-up venture rounds through growth, expansion, and pre-IPO financings. The firm also executes buyout transactions in select situations. This stage-agnostic approach is unusual among Chinese private equity managers and allows V Fund to retain ownership and governance influence as companies mature.

The firm's investment activity concentrates on enterprise software, artificial intelligence and machine learning, industrial technology and robotics, healthcare services, digital health, and mobility and transportation. These sectors align closely with China's stated industrial policy priorities in advanced manufacturing and domestic technology self-sufficiency.

V Fund sources deals primarily through its domestic networks in Beijing, Shanghai, and Shenzhen, leveraging relationships with entrepreneurs, state-affiliated industrial planners, and the domestic venture ecosystem. As a multi-stage manager, the firm also generates proprietary deal flow through its existing portfolio — early-stage companies that demonstrate traction often receive follow-on capital from the firm's growth-stage vehicles before formally marketing to external later-stage investors.

V Fund operates as an institutional private equity asset manager, not a family office. It raises capital from China-based institutional limited partners and deploys it through direct equity investments across venture and private equity strategies.

V Fund's investment activity is structured around direct equity investments into portfolio companies rather than fund-of-funds commitments or external manager allocations. The firm takes board seats and governance roles in select positions, operating as a principal investor.