Hengxu Capital

Hengxu Capital (恒旭资本) is an investment vehicle linked to SAIC Motor, counted among the most capital-abundant corporate fund families in Chinese venture capital. As of mid-2023, it had logged 102 investments, part of a combined SAIC-affiliated tally of 418 deals spanning upstream battery materials, components, and integrated systems across the new-energy vehicle chain . The fund surfaces as a repeat co-investor alongside mainstream VCs: it followed into Tashi Intelligent Navigation's $120 million angel round in March 2025 and reappeared in the startup's later pre-A round alongside industrial investors such as TCL Capital and Shanghai Futen . In the new-energy sector, Hengxu partner Zhu Jiachun has voiced caution on overheated segments—warning that even supposedly high-barrier anode material expansions were accelerating faster than expected .