Future Capital
明势创投
Future Capital (明势资本) is an early-stage technology venture fund founded by Mingming Huang in July 2014 . It is best known as the first institutional investor in Li Auto and has built a concentrated portfolio around AI and frontier technology, including MiniMax and LiblibAI in the generative-AI wave , as well as humanoid-robot startup LimX Dynamics . Ling Xia serves as a partner at the firm . In 暗涌Waves's telling, Future Capital was also one of the few China-focused funds to successfully raise capital from the Middle East .
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Coverage
2026 VC Promotion Roundup
Universal celebration.
elsewhere别处发生·The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives
If Kimi ever goes public, will the bell-ringing photo look very different?
elsewhere别处发生·Liang Jun's First Year at the Helm: Fangqing Tech Raises Over 500 Million RMB in Three Rounds Within Six Months
A star-studded lineup of shareholders quickly assembled.
暗涌Waves·I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
elsewhere别处发生·Exclusive | LiblibAI Raises $130 Million, Led by Hongshan and CMC
Go big or go home.
暗涌Waves·Nova Fusion Closes 500 Million Yuan Angel Round, Setting New Record for Single-Round Funding Among Domestic Private Fusion Companies
Focused on the commercialization of small modular nuclear fusion.
高榕创投·A Year Later, When Kimi and MiniMax Investors Sat Down Together Again
The wildest possibility may be that humans won't be the only intelligent species on this planet.
暗涌Waves·7 Interdisciplinary Companies Close New Funding Rounds | FreeS Family Funding News Vol.22
Looking forward to working alongside more outstanding founders.
峰瑞资本·LiblibAI Secures Another Round of Hundreds of Millions of RMB in Funding, Advancing Toward the World's Largest AI Content Creation and Consumption Platform
Expand the platform's reach globally.
高榕创投·Gaorong Report · 2025 | Innovative Drugs, Agri-Tech, AI Content Platforms Close Funding Rounds; Gaorong Earns Multiple Accolades
Innovation as the sail, hard work as the oar.
高榕创投·2024, When Everyone Stands at a Crossroads: 96 Investors' Decisions
Deciding is easy. Waiting is hard.
暗涌Waves·China's USD Funds Won't Disappear
Live long enough to long China.
暗涌Waves·"Dream Dimension" Raises Tens of Millions of RMB in Series A Funding, Sparking a New Wave of AI Interactive Content
Multimodal AI is powering a new content experience.
高榕创投·Linear Capital | Linear Path, Nonlinear Growth
Striving to become China's best frontier tech and innovation fund.
线性资本·The VC 2.0 generation celebrated its tenth birthday in early autumn.
What about the next decade?
暗涌Waves·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.
峰瑞资本·"LiblibAI" Closes New Funding Round, AI Image Generation Tool Chosen by Nearly 10 Million Users
China's leading AI image generation platform.
高榕创投·Consensus Within Non-Consensus: A Conversation Among China's LLM Investors | Yunqi Tech π
New Wave, New Future
云启资本·When Moonshot AI's investors sat down with MiniMax's investors
Five individuals and two companies.
暗涌Waves·Minimax's Yan Junjie in Conversation with Huang Mingming: AGI, There's Only One Path — the Hardest One
A Conversation on Non-Consensus and Long-Term Optimal Solutions
暗涌Waves·"Late to the Party": How Xiaomi and Huawei Are Outflanking Legacy Automakers
The bloody battle has already begun.
暗涌Waves·A Globalization Guide for Chinese Founders: Slicing the World Horizontally
The word "globalization" — so brief, yet it encompasses so many narratives.
暗涌Waves·Two Masterstrokes in NIO's Fundraising History
There is no successful fundraising, only fundraising of the times.
暗涌Waves·Uncovering New Opportunities: Four Interdisciplinary Innovation Firms Announce Nine-Figure Funding Rounds | FreeS Family Funding News Vol.17
Looking forward to working alongside more outstanding founders.
峰瑞资本·Trekking to Riyadh
Opportunity, wealth, and a surging tide of people.
暗涌Waves·Exclusive | The General-Purpose LLM Startup Wave: The First Battle Is About to End
Contestants, take your positions.
暗涌Waves·Two Decades of RMB Funds: Between Life and Death
Are USD Funds in Trouble? Is It the RMB Funds' Turn to Make a Move?
暗涌Waves·On the first day of August, we spoke with 23 investors about "confidence."
And, what are the things that are hard but right, and what are the things that are hard but wrong.
暗涌Waves·June, Vitality | 5Y News Monthly
The big news from last month.
五源资本·5Y News | Sensors Data Closes $200 Million Series D Round
Boost efficiency through scientific methods.
五源资本·2022, the Door Opens to the Future | 5Y News Monthly
The big news from last month.
五源资本·5Y News | No-Code Collaboration Platform "Treelab" Closes Tens of Millions of Dollars in Series A Funding
Empowering enterprises' digital transformation.
五源资本·November: Foresight and Boundless Imagination | 5Y News Monthly
The big news from last month.
五源资本·5Y News | ClickPaaS Announces Completion of Tens of Millions of Dollars in B+ Round Funding, Doubling Down on Low-Code Ecosystem Development
Accelerate enterprises' digital transformation.
五源资本·April, When All Things Grow | 5Y News Monthly
Looking back at last month's big events, ready to take on Q2 with full confidence.
五源资本·5Y News | Low-Code Platform ClickPaaS Closes Tens of Millions of Dollars in Series B Funding, 5Y Capital Continues Support
Empowering enterprise digitalization through standardized capabilities.
五源资本·Acquisitions, New Brand Entrepreneurship Courses, and More: 21 Developments and 4 Reflections | FreeS Fund Chalkboard · October
Do what's right, not what's easy.
峰瑞资本·"iBeidiao" Raises Tens of Millions of RMB in Series B1 Funding | FreeS Fund Investment News
A seemingly unsexy industry has finally found its spring.
峰瑞资本·Rongbao · July | Beibei Group Launches New Business Beicang, "Ronghui" Discusses Public Affairs Strategy...
Creating better life through innovation.
高榕创投·Bishu Technology Raises Tens of Millions of Yuan in Series A+ Round to Advance Its Intelligent Operations "Brain"
Dedicated to building a world-leading AIOps intelligent operations engine, using AI technology to empower the IT operations field.
高榕创投·
