Shenzhen Capital Group
深创投
Shenzhen Capital Group (深创投 / SCGC) is a Chinese state-backed venture capital fund with a market-oriented operating style. It was founded in 1999 and has been led since 2015 by chairman Ni Zewang, who is set to retire in 2024 with president Zuo Ding slated to succeed him . In some sense it sits at the boundary between government mandate and market practice: as Ni put it at a 2022 annual meeting, "the state needs what Shenzhen Capital Group invests in" . The firm ranks among China's most active investors by IPO count — it topped the list alongside Yida Capital and SMIC Capital Research during the first half of 2023 — and has been cited as a model for how state-affiliated GPs can professionalize capital deployment . Its portfolio spans hard tech and strategic industries, including a recent pre-A++ round in superconducting quantum computing startup LogicQubit alongside Matrix Partners China and Huakong Fund .
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Coverage
LogicQubit Raises Two Rounds of Funding Worth Hundreds of Millions of Yuan, Bringing Quantum Computing Into Mainstream VC Crosshairs
What's the Next Disruptive Narrative in Primary Markets?
暗涌Waves·Where Are the Bold State Investors?
Breaking Down the Most Active Local State-Owned Capital.
暗涌Waves·Year-end good news: CDH Investments has raised 5 billion yuan for logistics investments.
Insurance capital is turning its attention to real estate investments.
暗涌Waves·Will the Primary Market Get Better? 9 People Talk About Some Real Problems
Difficult exits, difficult fundraising, and state capital's fault-tolerance mechanisms.
暗涌Waves·Reviving China's Primary Market
Already dormant.
暗涌Waves·Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
暗涌Waves·Who's Who in Shenzhen Capital Group's New Leadership Team
To study an organization, start with the people.
暗涌Waves·Money, Contradictions, and ESG
*Who Cares Wins*
暗涌Waves·Xi Cao of Lisi Capital and His Eleven Luo Han --- Wait — let me reconsider. "十一罗汉" is almost certainly a reference to *Ocean's Eleven* (the film), used here as a playful nickname for his team. Let me adjust: Xi Cao of Lisi Capital and His Ocean's Eleven
Starting a business is like climbing a mountain — the meaning lies in the climb itself.
暗涌Waves·
