Lighthouse Capital
光源资本
Lighthouse Capital (光源资本) is the firm founded by Zheng Xuanle (郑烜乐), who still leads it . It built its name primarily as a financial advisor (FA) — as 暗涌Waves put it, Zheng and Lighthouse "一度声名鹊起" serving as fundraising advisors to companies like Bilibili, Kuaishou, Zhihu, Huolala and Dewu . Alongside the advisory franchise, it also invests directly and through its L2F fund: it served as exclusive FA on Yijiupi's 2019 D+ round , acted as exclusive FA and early investor in Galaxy Universal's 700 million RMB angel round in 2024 , and has repeatedly doubled down as an existing shareholder in quantum-computing startup MatriQ's rounds through 2026 . Zheng remains a public voice on the primary market, most recently appearing under the Lighthouse banner in late 2025 .
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Coverage
ZhenFund Angel Project "Valhalla Technology" Closes Nearly $50 Million Funding Round
Build a Scientific AGI foundational platform for all domains.
Valhalla Tech, a Full-Modality Molecular World Model Company, Raises Nearly $50M in Three Consecutive Months of Funding | 5Y News
World models that create molecules.
5Y News | Archon Robotics Closes Nine-Figure RMB Seed Round
What Should Robots Learn from Humans?
ZhenFund angel project "YuanCe Future" (源策未来) has raised hundreds of millions of RMB in its Series A funding round, aiming to build the OpenAI of the humanoid robot era.
A University of Hong Kong professor has founded a startup to build a general-purpose, full-body embodied intelligence brain.
MatriQ Atomic Matrix Raises Three Consecutive Rounds of Hundreds of Millions of Yuan in Six Months, Accelerating Toward Logical Qubits and Commercial Delivery | Unity Ventures Portfolio News
Achieving an engineering breakthrough that is demonstrable, verifiable, and iterable.
"You've got a shovel that can dig up gold — you're definitely not lending it out first" | A Conversation with Kaiwuji's Lu Ziheng: Using AI to Invent New Materials
As long as you're still stirring things up, there's still hope.
AeroBand Closes Nearly 100 Million Yuan Series A Round, Leading the Future of Smart Instruments Through Technology | Oasis Vitality
Defining the gateway to next-generation digital music creation and sharing
MatriQ Secures Angel Round, 2048 Defect-Free Physical Qubit Array Advances Neutral-Atom Quantum Computing Commercialization | New Unity Ventures Portfolio Company
Frontier Tech Companies Betting on Next-Generation Quantum Computing
I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
In 2004, an Embodied AI CEO Goes Full-Stack Open Source; Xiaomi and Galbot Bet Tens of Millions of Dollars
The Appeal of an All-Gen Z Founding Team
The AI Investment Mid-Game: Talent Wars, Faith Divides, and Super Opportunities
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Yunqi Capital Leads Tens of Millions of RMB Seed Round in "BenZhi JiHuo" to Accelerate On-Device AI Deployment | Yunqi Capital
AGI continues to grow
An FA Firm Decides to Start Incubating | Entering the Game
Time Traveler Light Source.
Where Are the Bold State Investors?
Breaking Down the Most Active Local State-Owned Capital.
2024, When Everyone Stands at a Crossroads: 96 Investors' Decisions
Deciding is easy. Waiting is hard.
MaKe | MaHui Member Galaxy Universal Raises 700 Million RMB in Angel Round
Sorry, BlueRun Ventures Doesn't Want That Kind of Startup Camp | Buming 2024 Now Recruiting
You're Invited to Join a Different Kind of Startup Camp
The Day Munger Died: 18 WeChat Moments About Him
Mourning the Passing of a Wise Mind
Linear Capital early-stage portfolio company **Gritworld** announced the completion of its Series B2 funding round, led by **BYD**.
Exploring how 3D graphics engine technology is pushing the new frontiers of consumer-end graphics.
The Indefatigable Zheng Xuanle
The Dividend Generation and Those Who Get Their Hands Dirty
It’s not just Taihe Capital that needs a "second founding."
Start over from scratch.
5Y News | Portfolio Company PAM2L Biotechnologies Closes Pre-A Round of Over 100 Million RMB
Leveraging synthetic biology and machine learning as dual engines to drive bio-based materials and product development.
Three Barometers for the Primary Market, for Your Reference
The bilateral order of the primary market is being restructured on both sides.
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.
5Y News | 5Y Capital Portfolio Company *Deepexi* Closes Series B+ Round
Focused on lakehouse-integrated data intelligence infrastructure software.
5Y News | Emerging Skincare Brand *C咖* Closes Series B Round
Innovative single-use pod masks.
Source Code Capital portfolio company "Suplay" announced the completion of two funding rounds totaling over $10 million, with Source Code Capital as the sole investor in the Pre-A round
A designer-toy consumer platform spanning the full IP and distribution chain.
5Y News | Chinese Emerging Designer Brand "bosie" Closes New Funding Round of Several Hundred Million Yuan
Break free from constraints. No divisions, no boundaries.
5Y News | XYZ Robotics Leads the Robot Hand-Eye Coordination Race, Closes $35 Million Series B Round
Liberating human hands, transforming the productive efficiency of society.
Oasis Capital's early investment in Every Minute Technology completes 200 million yuan B++ round | Oasis Vitality
Established its position as an industry leader
XYZ Robotics, a company specializing in robotic hand-eye coordination application technology, announced the completion of a nearly $20 million Series A+ funding round led by Source Code Capital.
Deep learning, 3D geometric vision, and optimal motion planning algorithms enable fully automated sorting in category-specific warehouses.
Gaorong News · December | Gaorong Ventures Named Among "China's Top 3 Best VC Funds of 2019," Ronghui "Youth Innovation Camp" Concludes
The future is bright.
Leading Community Fresh Food Brand "Qian Damayi" Closes Nearly RMB 1 Billion Series D Round | Gaorong Ventures News
Boosting efficiency and the customer experience in the fresh food industry, so every meal is truly fresh.
"Shao Nian De Dao" Raises Over 100 Million RMB in Series A+ Round | FreeS Fund Investment News
Achieving "the world's best teachers serving a single child."
Onion Math Closes 300 Million Yuan Series D Round, FreeS Fund Continues to Follow On | FreeS Fund Deal News
Internet-based inclusive education focused on primary and secondary school students
Source Code Capital portfolio company Yijiupi raises $100 million in D+ round, bringing total Series D funding to over $300 million
The FMCG Super Industrial Chain Platform
