# Xiaoka Capital

Xiaoka Capital is a Private Equity based in Hangzhou, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Hangzhou, Zhejiang, China
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** xiaokacapital.com
- **LinkedIn:** https://pl.linkedin.com/company/xiaoka

## Regulatory record

- **Reports private funds:** No

## About

Xiaoka Capital invests in large cultural industries, including equity and film and television dramas. The firm has made six investments to date. Its most recent investment was in EVPS, a venture capital round completed on December 29, 2022.

## Sectors

- Enterprise Software
- AI/ML
- Industrial Tech
- Robotics & Automation
- Mobility & Transportation

## People

- Zheng Shuang — Founding Partner

## Questions

### Who runs investment decisions at Xiaoka Capital?

Zheng Shuang is the founding partner and leads investment decisions from Hangzhou. His professional history includes previous operational or investment roles in China's industrial sectors, though Xiaoka does not publicly detail his full background. The firm's investment committee structure, if any exists beyond Zheng, is not disclosed.

### How does Xiaoka Capital source proprietary deal flow?

Xiaoka's sourcing is anchored in on-the-ground proximity to Zhejiang's manufacturing clusters, where it identifies founders building automation and industrial software products within factory ecosystems. The firm's relationships with unnamed industrial strategics provide a secondary channel, as corporate partners refer startups needing early capital and technical validation. This dual origination path—geographic and corporate-referral—gives Xiaoka looks at companies before they appear on the radar of generalist venture funds in Shanghai and Beijing.

### Which sectors does Xiaoka Capital explicitly avoid?

Xiaoka does not publicly list exclusions, but its observed activity shows no engagement in consumer internet, social media, gaming, e-commerce marketplaces, or pure software-as-a-service without a physical industrial interface. The firm's portfolio gravitates toward hard-tech verticals where factory-floor validation is possible, effectively excluding asset-light digital-only businesses by revealed preference rather than stated policy.

## Related profiles

- [Xiangyang Kechuang Investment Management](https://altss.com/profile/xiangyang-kechuang-investment-management)
- [Xiaomi Private Equity Fund Management](https://altss.com/profile/xiaomi-private-equity-fund-management)

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

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