# Zhengkun Capital

Zhengkun Capital is a Private Equity based in Hangzhou, China.

## Overview

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

## Regulatory record

- **Reports private funds:** No

## About

Zhengkun Capital is a private equity firm based in Hangzhou, China. It focuses on venture capital investments. The firm has a team of 20 employees.

## Sectors

- Enterprise Software
- AI/ML
- Industrial Tech
- Digital Health
- Mobility & Transportation

## People

- Zhuo Fumin — Founder & Chairman

## Questions

### Who runs investment decisions at Zhengkun Capital?

Investment decisions are led by founder and chairman Zhuo Fumin, whose corporate and cross-border finance background shapes the firm's focus on enterprise technology. The firm employs a partner-driven committee structure typical of Chinese private equity platforms, with sector leads covering advanced manufacturing, enterprise software, and healthcare technology. Specific partner names beyond Zhuo are not publicly disclosed.

### How does Zhengkun Capital source proprietary deal flow?

Deal flow originates through a combination of relationships with provincial government-guided funds, particularly in Zhejiang and Jiangsu provinces, and through networks built around industrial incumbents that co-invest alongside the firm. Zhengkun's presence in Hangzhou provides proximity to Alibaba alumni founders and Yangtze River Delta hardware-software integration companies. The firm also participates in pre-syndication rounds where policy-linked capital incubates technology startups before broader private equity entry.

### Does Zhengkun Capital invest outside of China?

Zhengkun's portfolio is concentrated in mainland China, with the majority of known portfolio companies based in Hangzhou, Shanghai, Suzhou, and Shenzhen. There is no public evidence of direct investments outside China. The firm has not disclosed any cross-border co-investment structures or offshore dollar-denominated vehicles.

### What is Zhengkun Capital's posture toward co-investments alongside external GPs?

Zhengkun Capital actively co-invests with government-guided funds and industrial strategic partners within China's eastern technology corridors. For external GPs seeking exposure to China's enterprise tech sector, the firm represents a domestic co-investment partner with access to policy-linked deal flow. The firm's renminbi fund structure and local LP base position it as a domestic co-investor rather than a cross-border syndicate lead.

## Related profiles

- [Zhenglong Capital](https://altss.com/profile/zhenglong-capital)

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

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