Zhongtou Hengtian (Beijing) Investment Management

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.

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.

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.

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.

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.

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.

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.