Shenzhen Capital Group

Shenzhen Capital Group (深创投, or SCGC) is one of China's most established state-backed venture capital firms, founded in 1999 and headquartered in Shenzhen . For its first two decades it was closely tied to the Shenzhen municipal government: its earliest chairmen came from the city's asset-management apparatus, and in 2004 the Shenzhen SASAC installed Jin Haitao as chairman, shifting the firm from a president-led to a chairman-led structure . The group has since evolved into a more market-oriented player while retaining its policy DNA—暗涌Waves notes that Shenzhen's state investors are seen as a template for "market-oriented"国资打法, with government oversight focused mainly on compliance rather than deal-level interference .

In recent years SCGC has led or co-led rounds across hard tech and consumer sectors, including AIPARK's Series D (2020) , Aqara's 1 billion yuan Series C (2021) , Baseus Technology's Series A and A+ (2023) , and AI² Robotics' nine-figure RMB Series A round in 2025 . It has also backed semiconductor plays such as Innovative Semiconductor Substrate Technology and Moore Threads' early pre-A rounds . Ni Zewang (倪泽望) became chairman in 2014, succeeding Jin Haitao after his retirement .