Xiamen C&D Emerging Industry Equity Investment

General Manager and Chairman Cai Xiaofan holds the top investment decision-making role. He leads a team of over 80 professionals, over 90% of whom hold master’s degrees or PhDs, with an average tenure exceeding ten years among the core group.

It leverages its parent company’s supply-chain operations across more than 170 countries to identify industrial demand signals, manufacturer capacity, and emerging commercial patterns. Partnerships with over 100 venture and growth funds provide additional proprietary co-investment opportunities.

It is a professional asset manager wholly controlled by Xiamen C&D Group, a state-owned enterprise ultimately owned by the Xiamen SASAC. Although it benefits from permanent parent-company capital, it operates as an institutional investment platform, not a family office.

No. The platform makes fund commitments as a significant LP (managing co-investment mother funds, including a second RMB 10 billion vehicle with China’s National Social Security Fund), executes direct equity investments, and operates a dedicated secondary fund (Xinying No. 1) for LP-position acquisitions.

It spans the entire curve: seed-stage venture, early-stage startup, growth and expansion, and pre-IPO rounds. The secondary fund also targets LP positions in existing private funds, adding late-cycle liquidity strategies.

It is a wholly owned subsidiary that functions as the group’s central equity investment arm. The parent provides permanent capital, balance-sheet strength (total group assets exceeded RMB 600 billion in 2025), and industrial networks that the investment team uses for sourcing and due diligence.

Its 2023 impact report formalizes a focus on environmental and social governance alongside its core financial mission. The firm publishes annual impact assessments, aligning with the broader state-owned enterprise directive to coordinate investment with strategic national development goals.