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Yi-Bai-Yi Investment
Yi-Bai-Yi Investment runs a multi-strategy private equity platform out of Hangzhou, spanning seed to late-stage venture and fund-of-funds.
Yi-Bai-Yi Investment
Yi-Bai-Yi Investment is based in Hangzhou, Zhejiang province, and pursues a notably wide private equity mandate. The firm executes direct investments from seed and start-up rounds through to expansion and late-stage growth, while also managing a fund-of-funds program that commits capital to other venture and growth equity managers. This dual approach — direct principal investing alongside manager selection — is less common among domestically focused Chinese firms and provides Yi-Bai-Yi with both upstream and downstream visibility into deal flow. The firm participates in venture generalist rounds and targeted growth financings. The firm's investment strategy spans early-stage venture, where it backs seed and start-up companies, alongside structured growth capital for more mature Expansion / Late Stage businesses. Yi-Bai-Yi also operates a dedicated Fund of Funds vertical, allocating to external managers, which diversifies its exposure across the Chinese private equity landscape. While specific portfolio holdings are not publicly catalogued, the firm's presence in Hangzhou — home to Alibaba and a dense cluster of technology, e-commerce, and enterprise software companies — shapes its natural deal-sourcing geography. Its commitment to Venture (General) and Growth strategies suggests exposure to consumer tech, enterprise software, and industrial technology verticals common in the Yangtze River Delta. Team size, total assets under management, and specific capital deployment figures are not publicly disclosed. The firm maintains no known website or LinkedIn presence, which is atypical for an institutional allocator of comparable strategy breadth and suggests a deliberately low profile or a concentrated base of domestic limited partners. There are no verifiable records of recent fund closes, portfolio exits, or partnership announcements in the 2022–2025 period. Structurally, Yi-Bai-Yi Investment represents a hybrid model that blends fund-of-funds allocation with direct venture and growth investing under one roof. This architecture gives it a dual lens: as a direct investor, it evaluates startups; as a limited partner, it assesses the managers who back them. For an external allocator, that hybrid structure could signal either a disciplined, information-advantaged investor or a strategy diluted across too many stages. The absence of public transparency — no website, no named principals, no reported fund sizes — is the firm's most pronounced structural characteristic and the primary obstacle to external evaluation.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Hangzhou
Corporate office
Hangzhou, Zhejiang, China
Frequently asked questions
What is Yi-Bai-Yi Investment's investment strategy?
The firm pursues a multi-strategy approach that combines direct private equity investing with a fund-of-funds program. Its direct investments span the full venture lifecycle, from seed and start-up rounds through to expansion and late-stage growth equity. The fund-of-funds arm commits capital to external venture and growth equity managers, providing diversified exposure across the Chinese private equity landscape.
Where does Yi-Bai-Yi Investment primarily deploy capital?
Yi-Bai-Yi Investment is headquartered in Hangzhou and concentrates its deployment in China. Hangzhou and the broader Yangtze River Delta region — a major hub for technology, e-commerce, and advanced manufacturing — form its natural geographic focus for direct investments and manager relationships.
Does Yi-Bai-Yi Investment manage outside capital or only proprietary funds?
The firm's capital structure and limited partner base are not publicly disclosed. The absence of a website, regulatory filings in English, or named institutional backers leaves its funding model unclear. Given its fund-of-funds and multi-stage direct investment activity, it likely manages third-party capital, but the proportion of proprietary versus external assets cannot be confirmed from public records.
Is Yi-Bai-Yi a single-family office or a private equity firm?
Despite its name, Yi-Bai-Yi Investment is categorized as a private equity firm rather than a single-family office. The 'Yi-Bai-Yi' name could reflect a group of individual founders or a separate corporate entity. No wealth-origin narrative has been publicly disclosed.
How does Yi-Bai-Yi Investment's fund-of-funds program enhance its direct investment activity?
Operating a fund-of-funds program alongside direct investing gives Yi-Bai-Yi visibility into the deal flow and investment strategies of other Chinese venture and growth equity managers. This dual perspective can theoretically improve its own direct sourcing — by observing which sectors and companies its peer GPs are backing — and provide a benchmark for its own Fund of Funds allocations. Whether these benefits translate into measurable performance advantage is unknown.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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