China Merchants Capital
招商局资本
China Merchants Capital (招商局资本) is the investment arm of state-owned conglomerate China Merchants Group, per a FreeS Fund piece describing its backing as "央企招商局集团旗下" . elsewhere's corpus has no dedicated profile of the firm — it shows up mainly as a co-investor in partner outlets' funding announcements, backing industrial fintech startup Zejin's Series A , joining Flexiv's $100M+ Series B in 2020 alongside Gaorong and Yunfeng , participating in Zhuiyi Technology's financing with 5Y Capital and GGV , and co-leading a 2021 round for Xinyi Information Technology . A related vehicle, 招商局创投 (China Merchants Venture Capital), appears in more recent deals — co-leading DeepWise's rounds in 2023 , joining LimX Dynamics' 2025 Series A , and leading a several-hundred-million-yuan round for embodied-AI robot maker Ola Dimensions in 2026 . Details like its founding date, fund size, and structure are not covered in elsewhere's corpus.
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Coverage
Cooking Robot Startup T-Chef Turns Profitable, Yunqi Capital Leads Nearly 100 Million Yuan Strategic Follow-On Round | Yunqi Partners
Global Deployment, Boundless Reach
Source Code Capital | Physical AI Firm DeepWise Closes Hundreds of Millions of RMB in Series B Funding, Existing Shareholder Source Code Capital Increases Stake
Source Code Capital led J&T Global Express's Pre-A round in 2022, and continued to increase its investment in multiple subsequent rounds, providing long-term support as the company grew.
Ola Dimensions Closes Hundreds of Millions in Angel Round, Using "Trainable" Paradigm to Rebuild Physical-World Data Loop for Home Embodied Artificial Intelligence | Unity Ventures Portfolio News
The third funding round completed in three months
5Y News | Oula Wanxiang Raises Hundreds of Millions of RMB to Build "Raise-Your-Own" Home Embodied Intelligence Robots
Closed several rounds of financing within two months.
Ola Dimensions Closes Hundreds of Millions of Yuan in Funding: Former Huawei Embodied AI "Employee No. 1" Zhou Shunbo Ventures Into "Tamagotchi-Style" Home Embodied AI Robots | New Unity Ventures Portfolio Company
Zhou Shunbo is the only Huawei "Genius Youth" recruit whose research proposal centered on intelligent robots.
Shouxing Technology Secures Hundreds of Millions of Yuan in New A1 Round; Humanoid Robot Makes Cover Debut in *Science Robotics*
Humanoid emotional-interaction robotics company AheadForm has announced the completion of a Series A1 round totaling several hundred million RMB.
BlueRun Ventures Portfolio Company Puyu Technology Closes Hundreds of Millions of RMB Financing to Accelerate Nanoimprint Lithography Equipment Commercialization | BlueRun Family
Opening a New Front for China's Semiconductor Breakthrough
Spirit AI Closes Nearly 2 Billion Yuan Funding Round! Valuation Exceeds 10 Billion Yuan | Oasis Capital Vitality
Accelerating Machines' Understanding of the Physical World
5Y News | AheadForm, a 5Y Capital portfolio company, closes new funding round exceeding RMB 100 million
A distinctive pioneer in the field of embodied intelligence.
5Y News｜AheadForm Closes Pre-A Round
The Startup Behind the Viral Humanoid Robot Video With Over 100 Million Views
Spirit AI Closes 528 Million Yuan Funding Round, Accelerating Full-Scale Iteration | Oasis Capital Vitality
Counselor Vitality
7 Interdisciplinary Companies Close New Funding Rounds | FreeS Family Funding News Vol.22
Looking forward to working alongside more outstanding founders.
"LimX Dynamics" Raises 500 Million RMB in Series A Funding Over Six Months | Oasis Capital Vitality
Consultant Vitality
Embodied AI, AI + Industry, Chips + Autonomous Driving: 5 Companies Announce Funding Rounds | FreeS Family Funding News Vol.20
Looking forward to working alongside more outstanding founders.
4 Stanford PhDs Crash Into a Trillion-Yuan Track | Z Circle
Force control is a critical, necessary step toward humanoid robots.
LimX Dynamics, a general-purpose humanoid robotics company, completes Series A funding round; Oasis Capital continues to increase its stake | Oasis Vitality
Counselor Vitality
Healthcare and chip companies close new funding rounds; satellite communications, energy storage batteries, and other sectors hit milestones | Rongbao · July
Foresight and courage.
Huanwei Microelectronics Completes Series A Round to Accelerate Low-Power UWB Chip Market Expansion and Mass Production
Accelerate adoption in smartphones, automotive, and industrial IoT applications.
Code Moment | DeepWise Closes Hundreds of Millions of RMB in Series A and A+ Rounds, Existing Shareholder Source Code Capital Continues to Increase Stake
Building Next-Generation Deep Energy-Saving Intelligent Control Products and Solutions
7 Companies Raised Nearly 1.5 Billion Yuan, 4 Valued Above 1 Billion Yuan | FreeS Family Funding News · September
Every step of growth for an innovative company: from 0 to 1, from 1 to 10, and from 10 to 100
5Y News | Zhuiyi Technology Secures Strategic Investment of Several Hundred Million RMB
Exploring the commercial boundaries of AI technology.
Source Code Capital portfolio company YQN Logistics announces completion of $100 million Series D1 funding round, with existing shareholder Source Code Capital continuing to increase its stake
After six years of rapid growth, the platform now serves approximately 20,000 enterprise clients, with projected shipping volume expected to reach 700,000 TEUs in 2021.
Biren Technology, a general-purpose intelligent chip design company, announced the completion of its Series B funding round — Source Code Capital participated in the investment.
Founded just over a year ago, it has raised more than 4.7 billion yuan in total funding.
To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y News | GPU chip design company Moore Threads raises billions of yuan in funding within 100 days of founding
Building China's computing acceleration platform.
Gaorong Bulletin · December | Multiple Gaorong Ventures Portfolio Companies Secure New Funding in Chips, Robotics, AI Drug Discovery, New Brands, and Other Sectors
Stepping into 2021.
General-purpose intelligent robotics company Flexiv completes over $100 million Series B funding round
Gaorong Ventures led the investment in Flexiv in early 2019 and continued to increase its stake in subsequent funding rounds.
5Y News｜Deepexi Completes $40 Million Series A4 Round
Deepexi raised $40 million in its Series A4 round. We talked about why organizational building matters.
Rongbao · October | Seeyon Networks Lists on STAR Market, Chang Chen Speaks at Zhongguancun Forum on "Patient Capital"
To date, companies invested in or backed by Gaorong Ventures have completed 10 successful IPOs.
XTransfer Raises Tens of Millions in Series B1 Funding to Bring Financial Services to Global SMEs
Leveraging technological innovation and data intelligence to provide financial services solutions that empower SMEs to expand globally.
Source Code Capital portfolio company YQN Logistics announced the completion of a $70 million Series C funding round, with existing shareholder Source Code Capital continuing to increase its stake.
It has served more than 10,000 enterprises to date, with over 150,000 freight rates across all shipping routes on the platform. The platform's 2019 cargo volume is projected to reach 300,000 TEU.
Ze Jin Financial Services Completes Tens of Millions of RMB in Series A Funding, Using Technology to Return Finance to Its Roots | FreeS Fund Investment News
Tailored Solutions + One-Stop Service
Two Portfolio Companies Close Funding Rounds, Four Achieve Strategic Upgrades, and Two Rank First on Global Top Lists | Source Code Capital Community · February
"Ma Hui Notes" chronicles the small steps forward of our community members, shares in the joy of their growth, and looks toward an even brighter future.
