Buhuo Ventures
不惑创投
Buhuo Ventures (不惑创投) is a Chinese venture capital firm that appears to have been active in B2B and industrial-tech investing from at least 2017 through 2021, based on elsewhere's corpus. Its disclosed bets include leading a RMB 62.5 million Series A in ZNLH (中能联合), an energy-sector platform, in September 2018 , and participating in multiple rounds of Zhangshang Fucai (掌上辅材), a B2B marketplace for construction auxiliary materials, from angel through pre-A and A stages alongside Source Code Capital and ZhenFund . It also followed on in later rounds of ZNLH through at least 2021 . Elsewhere's corpus does not cover Buhuo Ventures's founding date, fund size, or full team.
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Coverage
The Hidden Depths of the Primary Market
If a perfect deal is one where everyone wins, then in an S deal, that may never be possible.
Source Code Capital portfolio company "Zoneneng United" announces completion of Series C with cumulative fundraising of RMB 3 billion; existing shareholder Source Code Capital continues to increase its stake
"The Zhongneng Model" — Powering Intelligent Transformation in the Construction Machinery Industry.
"ZNLH" announced the completion of a $50 million Series B funding round, led by Source Code Capital.
Building a Chinese version of United Rentals (NYSE: URI).
4 Companies Close Funding Rounds, 8 Undergo Strategic Upgrades, Multiple Firms Named "2018 King of New Economy" | Source Code Capital Monthly · November
"Ma Hui Journal" is where we document our team's small steps forward, share the joy of growth, and look ahead to an even brighter future.
5 Companies Raise Funding, Several Make China's Top 100 Unicorns List | Code Meet Journal · March
【Source Code Capital Chronicle】A place to record the small steps forward of our team members, share the joy of growth, and look toward an even brighter future.
Asset360 Closes New Funding Round; Existing Investor Source Code Capital Continues to Increase Stake
End-to-end, one-stop services covering the full lending lifecycle — from pre-loan origination and mid-loan management through post-loan collection and resolution.
Hai Feng Education Raises Tens of Millions of Dollars in Series C Funding from TAL Education Group and Source Code Capital
Following its Series B round in July 2017, this marks the second round of funding Hai Feng Education secured within six months.
Source Code Capital 2017: The Year of Establishing Our Footing
Never Settle
3 Companies Secure Additional Funding, 1 Lists on NYSE, 6 B2B Firms Win Multiple Awards | Source Code Capital Monthly · October
**Ma Hui Journal:** A place to record the small steps forward of our community members, share in the joy of growth, and look toward an even brighter future.
Zhangshang Fucai Raises RMB 20 Million Angel Round from Source Code Capital and Buhuo Ventures
Zhangshang Fucai is, in simple terms, the JD.com of the renovation materials space.









