# Zhongguancun Gazella Fund

Zhongguancun Gazella Fund is a Venture Capital based in Beijing, China.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** Beijing, China
- **Founded:** 2011
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Zhongguancun Gazella Fund is a private equity firm based in Beijing, China. It focuses on venture capital investments.

## Sectors

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

## Questions

### What investment stages does Zhongguancun Gazella Fund target?

The firm targets seed, start-up, and growth-stage companies, with a primary emphasis on early-stage hard-technology investments. This covers pre-revenue startups commercializing intellectual property from Chinese research institutions, as well as more mature gazelle-designated companies that are scaling in domestic markets. Its general venture mandate does not appear to include buyout or pre-IPO late-stage rounds.

### Which government policies most directly influence the firm's investment thesis?

The firm's strategy is closely aligned with the Made in China 2025 industrial policy framework and subsequent technology self-sufficiency directives, which prioritize domestic innovation in semiconductors, AI, advanced manufacturing, and clean technology. Zhongguancun Science Park operates under its own municipal and national-level incentive programs that offer tax breaks and R&D subsidies to startups in these sectors — effectively subsidizing the deal pipeline that early-stage managers like Gazella Fund access.

## Related profiles

- [Zhongguancun Education Capital](https://altss.com/profile/zhongguancun-education-capital)
- [Zhongguancun Kaiyuan Capital](https://altss.com/profile/zhongguancun-kaiyuan-capital)

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

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