Future Capital

Future Capital (明势资本) is an early-stage tech venture fund founded in July 2014 by Mingming Huang, who previously worked as an angel investor . The firm was the first institutional investor in Li Auto and has built a concentrated portfolio around AI and frontier technology, backing MiniMax in early 2022, humanoid robotics company LimX Dynamics later that year, and AI image-generation platform LiblibAI across multiple rounds including a lead position . Partner Ling Xia represents the firm publicly alongside Huang . In 2024, 暗涌Waves noted that Future Capital was among the few Chinese VC firms to successfully raise capital from Middle Eastern LPs .