Zasion Capital

Key decisions are led by Chairman and General Manager Chen Yihui. The firm is registered as a private equity and venture capital fund manager with the AMAC (registration P1061674). It manages three specific limited-partnership vehicles, each named after a district or county in Nanchang, indicating a close alignment with local government economic development goals.

The firm invests across early-stage, start-up, and growth equity rounds in Chinese companies. Its publicly disclosed portfolio includes names like Zhongde Biology (food safety testing), Purifine (agri-tech), FIIL Electronics (consumer audio), Geruling (VR education), and Xinyu Boxun (firefighting drones). The common thread is technology-enabled companies with a nexus to Jiangxi province.

The firm's capital appears to come primarily from local government development funds in Nanchang. The three named vehicles—linked to Qingyunpu district, Nanchang County, and a high-tech intellectual property fund—suggest the firm serves as a conduit for regional industrial policy and innovation stimulus rather than as a third-party blind-pool manager for institutional LPs.

The firm's fund names and its multiple 'Serving Jiangxi Economy' awards indicate a strong regional mandate to develop the local economy. While its portfolio may include companies headquartered elsewhere, all disclosed investments are closely tied to strategic industries identified by the Nanchang regional government.

Zasion operates three funds explicitly named after Nanchang municipal entities, suggesting it functions as a government-guided fund manager. This structure typically gives local government bodies significant influence over investment themes, requiring portfolio companies to have a physical or operational presence in the region as a condition of investment.