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Zhongtou Hengtian (Beijing) Investment Management
Zhang Bei's Beijing-based investment firm pairs seed-stage consumer ventures with real estate co-investments alongside state-backed developers like COFCO...
Zhongtou Hengtian (Beijing) Investment Management
Zhongtou Hengtian operates from Beijing with a mandate that straddles venture creation and real estate development. The firm was founded by Zhang Bei, a serial entrepreneur whose other ventures include Shili Fangfei and Huajiantang. Her investment activity ties directly to a personal network of female founders and alumni of the CEIBS Entrepreneur Camp. The firm deploys capital across seed-stage consumer brands and residential real estate, often through joint ventures structured with established property developers. One named portfolio company is Youyoutang, founded by Chen Xiaofan. On the real-asset side, the firm has participated in the Nanjing Jingyue Real Estate Project, a residential development in Nanjing, Jiangsu, in partnership with Joy City Holding, a subsidiary of the state-owned COFCO Group. The firm also holds VR theme park assets in China. Zhang Bei maintains active memberships in Red Lady (Hongyan Hui), a high-end professional network for female entrepreneurs in China, and the CEIBS Alumni Association. The firm's compact structure suggests principal-led decision-making with Zhang as both founder and legal representative. No additional offices or dedicated vehicles beyond the core Beijing entity have been publicly identified. Zhongtou Hengtian's structure is distinct for its refusal to separate venture-building from hard-asset co-investment. Most China-based investment managers specialize in either early-stage consumer tech or real estate development; this firm operating across both creates a cross-collateral knowledge loop that is rare in the Beijing manager landscape.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Beijing
Corporate office
Beijing, China
Principals
Zhang Bei
Founder and Legal Representative
Sector focus
Frequently asked questions
Who runs investment decisions at Zhongtou Hengtian?
Zhang Bei serves as Founder and Legal Representative, making her the central decision-maker. Her entrepreneurial background includes founding consumer ventures Shili Fangfei and Huajiantang. The firm does not publicly list additional investment committee members, suggesting a principal-led governance model.
How does Zhongtou Hengtian source its investment opportunities?
Deal flow appears closely tied to Zhang Bei's personal network, including the Red Lady (Hongyan Hui) community of female Chinese entrepreneurs and the CEIBS Alumni Association. Real estate partnerships are sourced through relationships with state-backed developers such as Joy City Holding, a COFCO Group subsidiary.
Is Zhongtou Hengtian a single-family office or an asset manager?
Zhongtou Hengtian is structured as a generalist asset manager rather than a dedicated family office, despite its principal-led governance. Its investment activities span direct equity stakes in early-stage companies and joint-venture real estate development, with no public indication of managing a single family's concentrated wealth.
What investment stages does the firm target?
The firm focuses on seed-stage investments, placing initial capital into consumer brands and ventures. Youyoutang, founded by Chen Xiaofan, is a representative portfolio company. Real estate investments are project-based co-developments rather than staged equity rounds.
How is Zhongtou Hengtian related to COFCO Group?
Zhongtou Hengtian co-invests with Joy City Holding, which is a publicly listed subsidiary of COFCO Group, the state-owned food and agriculture conglomerate. The relationship is that of a co-development partner on specific real estate projects, notably the Nanjing Jingyue residential development. The firm is not a subsidiary or affiliate of COFCO.
Does the firm accept external limited partners?
The capital structure is not publicly disclosed. The firm's co-investment model on real estate projects suggests it contributes equity alongside institutional partners like Joy City Holding. Whether it raises discretionary funds from external LPs for its venture activity has not been publicly addressed.
What is the firm's geographic focus?
Operations are concentrated in mainland China, with a headquarters in Beijing and a known real estate project in Nanjing, Jiangsu. The VR theme park assets indicate potential exposure to experiential retail or entertainment locations elsewhere in China, though specific sites beyond general disclosure are not named.
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