Leo Zheng
郑烜乐
Leo Zheng (郑烜乐) is the founder and CEO of Lighthouse Capital (光源资本), a Chinese financial advisory firm he built into a prominent FA shop serving major internet companies including Bilibili, Kuaishou, Zhihu, Huolala, and Dewu . In 2024 he launched IDA, a government-relations arm to help portfolio companies secure land, capital, and policy resources , and by mid-2025 had raised over $50 million for Lighthouse Founders' Fund (L2F), a seed-and-angel fund focused on AI and frontier tech that plans to make roughly ten investments annually at $300,000–$2 million each . He has taken a hands-on approach with select incubations, notably leading Lighthouse's repeated investments in and deep operational involvement with AISphere . As he described it to 暗涌Waves in late 2024, his guiding conviction is "believing in the enormous potential of China's industrial upgrading" .
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Coverage
I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
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Time Traveler Light Source.
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Head down.
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暗涌Waves·Consumer/Medical Companies Launch New Products, Advanced Tech Market Share and Capacity Advance Further | Rongbao · November
Explore industry demand, and build solid R&D capabilities.
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