# Zhongzhi Capital

Zhongzhi Capital is an Asset Manager based in Hohhot, China.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Hohhot, China
- **Region:** Asia
- **Address:** Hohhot, Inner Mongolia, China
- **Founded:** 2011
- **Assets under management:** Undisclosed
- **Website:** www.zzcapital.com

## Regulatory record

- **Reports private funds:** No

## About

Zhongzhi Capital is a fund manager based in Hohhot, China. It focuses on Venture Capital investments. The firm has 14 employees.

## Sectors

- Financial Services
- Real Estate
- Consumer

## People

- Xie Zhikun — Founder

## Questions

### What is the current operational status of Zhongzhi Capital?

Zhongzhi Capital is functionally inactive. Its parent, Zhongzhi Enterprise Group, entered bankruptcy liquidation in January 2024 following a liquidity crisis and criminal investigation into founder Xie Zhikun. The firm's investment portfolio is subject to the insolvency proceedings. No new investment activity has been reported since the parent's disclosure of severe liquidity shortfalls in 2023.

### How was Zhongzhi Capital connected to Zhongzhi Enterprise Group?

Zhongzhi Capital was the dedicated asset management and venture investment subsidiary of Zhongzhi Enterprise Group. It deployed capital into seed and early-stage companies, often using funding flows from the parent's trust and wealth management businesses. The subsidiary's investments were not ring-fenced from the parent's broader liabilities, a structure that exposed it directly to the group's 2023 collapse.

### What asset classes did Zhongzhi Capital invest in?

The firm invested across venture capital, private equity, and structured credit opportunities. Its portfolio spanned seed-stage tech ventures, consumer-facing businesses, and real estate-related holdings. However, specific portfolio company names remain largely undisclosed, as the parent group did not publicly break out the subsidiary's individual investments. The bulk of its known allocation was concentrated in financial services and property-linked vehicles.

### Why did Zhongzhi Enterprise Group collapse?

The group, which at its peak managed asset management products worth an estimated RMB 3.7 trillion, suffered a liquidity crisis in 2023 when its trust and wealth management products — many sold to individual investors — began missing payments. An investigation revealed a complex web of cross-guarantees between subsidiaries and illiquid real estate assets. Founder Xie Zhikun was charged with illegal fundraising, and the parent entity filed for bankruptcy in Beijing in January 2024.

### Are investors in Zhongzhi Capital's funds able to recover capital?

Recovery prospects are poor and depend on the Beijing bankruptcy court's liquidation of the parent entity. The group's assets, including any portfolio holdings of Zhongzhi Capital, are now under the control of court-appointed administrators. Given the scale of reported liabilities exceeding recoverable assets, unsecured creditors — including fund investors — face significant haircuts. The process is ongoing.

## Related profiles

- [Zhongze Wode Capital](https://altss.com/profile/zhongze-wode-capital)
- [Zhongzhi Yongxingda Capital](https://altss.com/profile/zhongzhi-yongxingda-capital)

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

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