Linear Capital

Linear Capital is a venture capital fund founded and led by Wang Huai (王淮, also referred to as Harry Wang) as its CEO and founding partner . The firm operates as a dual-currency fund with a dollar-denominated core, though it has also raised RMB vehicles . Its investment thesis centers on what Wang calls a "China amplified global arbitrage strategy" — leveraging China's manufacturing, engineering, and talent advantages to capture global markets, with particular emphasis on Europe as a sourcing ground for advanced technology .

The fund's three main directions are AI applications, hard-tech innovation with robotics as a flagship sector, and frontier exploration in life sciences, new materials, and clean energy . Linear made its reputation partly through contrarian early bets in robotics: in 2017, when most investors were fleeing the sector, partner Huang Songyan led the seed round in Agile Robots (思灵机器人) and continued through multiple follow-ons, with the company surpassing a $1.5 billion valuation by 2023 . Other representative portfolio companies include Horizon Robotics, valued at over 60 billion RMB .

In 2024, Linear was actively building out its European presence, with Huang Songyan relocating to Munich to establish a local team — Wang described Europe as "an investment bug" where early-stage venture capital was "like entering no man's land" . The firm also launched Bolt, a lighter, faster vehicle targeting 3-4 person AI application teams with global-native ambitions, capable of moving from idea to prototype in two months . As of late 2024, Linear's AGM theme was "taking gems from fire," and Wang had taken to framing the firm's posture as "live long to long China" .