Zebra Global Capital

Founder Yong Kwek Ping leads investment decisions. The firm operates with a lean team structure, and the investment committee process is not publicly disclosed. Zebra's public record indicates a concentrated decision-making model typical of seed-stage specialists where the founder's network and judgment drive portfolio construction.

The firm sources primarily through the founder's cross-border network, co-investing alongside lead investors in competitive seed rounds. Zebra targets technical founders in Beijing and greater China whose companies are building for international markets, which narrows the addressable deal universe and concentrates sourcing into a specific segment of the Chinese startup ecosystem.

Zebra operates a co-investment model, participating alongside lead investors rather than leading rounds. This approach allows the firm to access deals at the seed stage with disciplined check sizes while relying on lead investors for due diligence and board governance. The firm has not publicly signaled a shift toward lead investing.

Most Beijing-headquartered seed funds invest exclusively in the domestic Chinese market with RMB-denominated vehicles. Zebra's explicit mandate is cross-border: it backs Chinese-founded startups that plan to scale internationally from inception. The firm raises capital from global institutional LPs rather than domestic Chinese limited partners, which shapes both its portfolio construction and its regulatory posture.

The firm does not publicly disclose a full portfolio list or performance figures. Its known activity includes seed-stage positions in enterprise software, fintech, AI/ML, and digital health companies with cross-border revenue models, but specific named holdings and fund-level returns remain outside public record.