Jianfa Xinxing Venture Capital

Jianfa Xinxing Venture Capital (建发新兴投资) is the minority-equity investment arm of Xiamen C&D Group, operating as an independent platform with a dual mandate as both a direct investor and a market-oriented LP . It positions itself as an LP with industrial background and direct-investment capability, backing star GPs including Junlian Capital, Qiming Venture Partners, Gaorong Ventures, and Source Code Capital—more than 60 in total by end-2023, with over 20 partnerships exceeding five years .

The firm has co-invested alongside these GPs in companies such as Baseus Technology (A+ round, 2023) , Allink Biotherapeutics ($42M Series A, 2024) , Andon Therapeutics (over RMB 400M Series C, 2025) , and Zai Ling Bio (nearly RMB 600M Series C, 2026) , as well as robotics companies Weijian Technology and TARS . Its portfolio spans healthcare, advanced manufacturing, and TMT/consumer sectors, with 37 IPOs including Bloomage Biotechnology, MicroPort EP, and Titan Scientific . Chairman Wang Wenhuai has described its GP strategy as a way to rapidly build expertise in technology and innovation investing, where the group initially lacked depth .