China FOF Research Center

China FOF Research Center (母基金研究中心) is a Chinese fund-of-funds research and ranking body that publishes annual league tables for the private equity and venture capital industry. The organization produces specialized lists including "best early-stage fund return" and sector-specific categories such as best AI investment institution . Its rankings are cited by leading VC firms—Yunqi Capital, ZhenFund, and Linear Capital among them—as third-party validation of their performance . Tang Jincao (唐劲草), chairman of Shuimu Capital, is identified as the founder of China FOF Research Center . The center's 2025 special rankings, published in September 2025, were framed against a backdrop of policy tailwinds for the equity investment sector .