# Yibin Fuhui Venture Investment Management

Yibin Fuhui Venture Investment Management is a Venture Capital based in Yibin, China.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Yibin, China
- **Region:** Asia
- **Address:** Yibin, Sichuan, China
- **Founded:** 2017
- **Assets under management:** RMB 1B - RMB 5B (Altss estimate)
- **Website:** ybfhvc.com

## Regulatory record

- **Reports private funds:** No

## About

Yibin Fuhui Venture Investment Management was established in 2017 as a state-owned equity investment platform, legally represented by Han Cheng. The firm is directly backed by the Yibin municipal government and its affiliated state-owned enterprises, with its capital base linked to Yibin's dominant distilled-liquor industry—Wuliangye, one of China's largest baijiu producers, calls the city home. This fiscal foundation gives the firm a mandate that blends local economic development with financial return objectives. Yibin Fuhui concentrates on growth and later-stage equity investments in advanced manufacturing—particularly power batteries, new materials, and intelligent terminals—alongside renewable energy, high-end equipment, and food processing. Its strategy is geographically tethered: the firm co-invests with outside GPs to bring production capacity into Yibin's industrial parks. Confirmed portfolio exposure includes CATL's massive power-battery manufacturing base in Yibin, a project Yibin Fuhui helped capitalize, and a position in Sichuan Aostar Lithium, a lithium-salt producer. The firm operates as an LP in specialized industrial funds while also making direct co-investments, often alongside corporate partners who relocate operations to the Yangtze River port city. Yibin Fuhui manages a reported umbrella of sub-funds targeting specific industrial verticals, though precise headcount and AUM remain unpublished. The firm is estimated to control between RMB 1 billion and RMB 5 billion in total capital deployment, placing it among the more active prefectural-level government guidance funds in western China. Its capital flows through vehicles like the Yibin Advanced Manufacturing Investment Fund. July 2023: Yibin Fuhui participated in a RMB 1.5 billion funding round for a local lithium-battery separator manufacturer as part of the city's push to command 30% of global power-battery production capacity by 2030. Yibin Fuhui's structural edge is its hybrid nature—it operates with VC-grade deal sourcing but state-capital patience. Unlike purely return-driven funds, its mandate compels investee firms to establish physical factories or subsidiaries within Yibin, creating a captive pipeline of industrial co-investments that standard venture firms cannot access. This 'invest-to-relocate' model turns the city's fiscal muscle into a competitive advantage in Chinese local government fundraising.

## Sectors

- Industrial Tech
- Advanced Materials
- Energy Transition & Renewables
- AgriTech & FoodTech

## People

- Han Cheng — Legal Representative & Executive Director

## Questions

### Who runs investment decisions at Yibin Fuhui?

Investment decisions are led by Han Cheng, the firm's Legal Representative and Executive Director. Han operates within a governance structure ultimately accountable to Yibin's municipal State-owned Assets Supervision and Administration Commission (SASAC) and state-owned capital investors like Wuliangye Group, per the firm's public record.

### Where does Yibin Fuhui's capital come from?

The firm's capital originates primarily from the Yibin municipal government and its state-owned enterprises, most notably Wuliangye Group—the city's dominant baijiu producer. This configuration makes it a local government guidance fund, blending municipal fiscal resources with state-enterprise balance-sheet capital to drive industrial policy in the region.

### How does Yibin Fuhui differ from a standard venture capital firm?

Yibin Fuhui operates on an 'invest-to-relocate' model. While it takes equity stakes in growth-stage companies, a core condition of investment is that the recipient builds manufacturing capacity or a subsidiary inside Yibin's industrial zones. This makes it a hybrid between a financial investor and an industrial-policy tool, granting it a pipeline of captive co-investment opportunities unavailable to purely return-seeking VCs.

### How is Yibin Fuhui related to Wuliangye?

Yibin Fuhui is not a subsidiary of Wuliangye but is indirectly linked through the Yibin municipal SASAC structure. Wuliangye Group, the city's largest state-owned enterprise, is a primary source of the municipal fiscal strength that capitalizes Yibin Fuhui's funds. The firm operates as a separate legal entity under the city's investment platform architecture.

## Related profiles

- [Sichuan Runheng Development Equity Fund](https://altss.com/profile/sichuan-runheng-development-equity-fund)
- [Silver Rock Financial](https://altss.com/profile/silver-rock-financial)

---

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

Canonical page: https://altss.com/profile/yibin-fuhui-venture-investment-management

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology