# Yiwu State-owned Capital Operation

Yiwu State-owned Capital Operation is a Private Equity based in Jinhua, China.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Jinhua, China
- **Region:** Asia
- **Address:** Jinhua, Zhejiang, China
- **Founded:** 2013
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Yiwu State-owned Capital Operation is a private equity fund of funds manager based in Jinhua, China. It manages $25.4 billion in assets across four funds, primarily focusing on Asia.

## Sectors

- Venture (General)
- Growth
- Early Stage
- Fund of Funds

## Questions

### What investment stages and sectors does the firm target?

The fund targets a wide stage range — seed, start-up, expansion, and late-stage venture — through the managers it selects. Sector focuses are not publicly itemized by the firm but align with Zhejiang provincial priorities: advanced manufacturing, digital economy, green energy, and cross-border trade infrastructure. The firm's investment strategy is defined more by the selection of general partners than by individual sector or stage mandates.

### How does Yiwu State-owned Capital Operation fit within China's government guidance fund system?

It functions as a municipal-level government guidance fund — one of hundreds established by Chinese cities since the mid-2010s. These funds are state-owned enterprises that commit capital to private investment funds on the condition that a portion of capital is deployed locally or in strategic sectors. Yiwu's version draws on the city's trade economy to support technology and industrial upgrading, using the fund-of-funds model to avoid direct state management of portfolio companies.

### Who governs and manages investment decisions?

As a state-owned entity, ultimate governance resides with the Yiwu municipal government, which controls the board and executive appointments. The firm does not publicly identify a CEO or CIO. Day-to-day investment decisions — selecting fund managers, negotiating LP terms, monitoring commitments — are made by internal staff whose identities remain below public disclosure thresholds. There is no known external investment committee or outsourced CIO arrangement.

## Related profiles

- [a.s.r. real assets investment partners](https://altss.com/profile/asr-real-assets-investment-partners)
- [Fundo de Pensões EDP](https://altss.com/profile/fundo-de-pensoes-edp)

---

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

Canonical page: https://altss.com/profile/yiwu-state-owned-capital-operation

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