Shenzhen Capital Group
深创投
Shenzhen Capital Group (深创投) is one of China's most established state-backed venture capital institutions, still active across the market as of 2026. Its leadership lineage is the clearest way to place it: after Jin Haitao — known in the industry as the "Southern Emperor" — retired at 61 following an 11-year run, former Luohu District Party Secretary Ni Zewang took over, per an 暗涌Waves profile of the group's leadership transitions ; Liu Suhua, previously head of Shenzhen Hi-Tech Investment, later succeeded as group president .
On the deal side, the corpus shows SCGC leaning hard into AI and robotics: it led the Series A of humanoid robot maker Booster Robotics in 2025 , co-invested in Baichuan alongside other state-backed AI industry funds , and in early 2026 joined ByteDance and HongShan in Independent Variable Robotics' 1 billion yuan A++ round — reportedly the first investment from SCGC's newly established AI fund . It also keeps adding to existing positions, most recently in DiffRobotics' A2 round and ENCOS' 300 million yuan-plus Series B, both in September 2026 .
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Coverage
ENCOS Raises Over RMB 300 Million in Series B, Evolving From Joint Modules to a Full Hardware Platform | Luzhou Shengmingli
First-pass yield above 97%, ready for large-scale robot delivery
Flying Robot Company DiffRobotics Completes Hundreds of Millions of Yuan in A2 Funding | 5Y News
Connecting flying robots to every industry, and bringing them into every home.
Hidream.ai Raised 2.1 Billion RMB in Three Months to Push AI From "Generating Content" to "Generating Worlds"
More Than 20 Institutions Scrambling to "Get on Board"?
A Conversation with HiDream.ai's Tao Mei: Big Tech Is a Machine Gun, Startups Only Have One Magazine
Bullets are scarce — every shot has to count.
MaHui Entrepreneurs | Booster Robotics' Cheng Hao: Not Chasing Trends, Just Building an Embodied AI Company That's "Still Here in Ten Years"
Qiming View | William Hu: Globalization of China's Healthcare Innovation Just Beginning, Will Be Investment Theme for Next 10-20 Years
China's healthcare innovation globalization has only just begun, and it will remain a sustained investment theme for the next 10-20 years.
VAST Nears $200 Million in Series A Funding, Unveils World Model in Parallel | Oasis Vitality
Project Eden: A General World Model Research Initiative
Heart Capital Portfolio Company Sunmi Technology Officially Lists on Hong Kong Exchanges and Clearing Limited, Global Leader in Commercial IoT | Heart Star PORTFOLIO
Nine years by your side — it's been an honor.
Booster Robotics Closes New Funding Round, Existing Investor Source Code Capital Continues to Increase Stake
Source Code Capital was the lead investor in J&T Global Express's Pre-A round and continued to increase its stake in subsequent funding rounds.
5Y News | Weifen Zhifei Raises Hundreds of Millions of RMB in Series A1 Funding to Accelerate R&D and Commercialization of Embodied Flight Intelligence
WeDifferential Intelligence has closed a Series A1 funding round worth several hundred million yuan.
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?
"Boundless Dynamics" Raises Hundreds of Millions of RMB in Angel+ Round, with Linear Capital, HSG, Hillhouse and Others Continuing to Back | Linear Portfolio
Our first-generation self-developed robotics platform has already been deployed in real-world customer scenarios.
Independent Variable Robotics' Qian Wang: China will produce the world's top embodied AI company, aiming to be the OpenAI of embodied intelligence | Founders Talk
Lands the Year's Biggest Robot Funding Round to Date
"Independent Variable Robotics" Raises 1 Billion Yuan in A++ Round | Yunqi Capital
Building Foundation Models for the Physical World
Independent Variable Robotics Raises $1 Billion from ByteDance, HSG, and Others to Build Foundation Models for the Physical World
The only embodied artificial intelligence company in China to have received investment from all three major tech giants — Meituan, Alibaba, and ByteDance
ENCOS Completes New 200 Million Yuan Funding Round, Oasis Capital Follows On with Oversubscription | Oasis Vitality
Counselor on Vitality / Advisor on Life Force --- *Note: This appears to be a title or role name without additional context. The translation depends on the specific context:* - **参赞** — "counselor/advisor" (in a diplomatic or advisory capacity); or in classical Chinese philosophy (from the *Doctrine of the Mean*), it means "to assist and complete" — as in humanity's role to "assist the transforming and nourishing powers of Heaven and Earth" (参天地之化育) - **生命力** — "vitality," "life force," "vigor" If this is a **job title** (e.g., at a wellness/health company): "Vitality Advisor" or "Life Force Consultant" If this refers to the **philosophical concept** (from Confucian thought): "Participating in the Vitality of Heaven and Earth" or "Assisting the Life-Giving Processes of Nature" If this is a **product/brand name**: could
MaHui Spotlight | Booster Robotics, a MaHui member humanoid robotics company, closes new funding round with existing investor Source Code Capital increasing its stake
Continue strengthening mass-production and delivery capabilities
5Y News | Differential Intelligence (微分智飞) Closes Pre-A and Pre-A+ Rounds, Accelerating Tech Buildout in Aerial Embodied Intelligence
Building the next-generation foundational model for aerial embodied intelligence.
The AI Investment Mid-Game: Talent Wars, Faith Divides, and Super Opportunities
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Yunqi Capital | "Intelligent Square" Closes New Nine-Figure RMB Funding Round, Doubling Down on Model Iteration and Production Line Expansion
Embodied Intelligence, Continuously Evolving
MaHui Member Booster Robotics Completes Series A+ Funding, Powers Chinese Team to Historic First RoboCup Championship in Humanoid Category
Unity Ventures Angel-Round Portfolio Company "Skywell" Lists on Nasdaq, Seven Portfolio Companies Announce New Funding Rounds | Unity Ventures Summer Chronicle
Thriving and Expanding, Pushing Boundaries Forward
5Y News｜AheadForm Closes Pre-A Round
The Startup Behind the Viral Humanoid Robot Video With Over 100 Million Views
‘Qingyun’ Light Oil Sells Over One Million Bottles, State Capital Bets Big to Drive 100 Million Yuan Plus Funding Round | Unity Ventures Portfolio News
First to achieve large-scale mass production of diacylglycerol (DAG) oil with over 95% purity
ENCOS Raises New Round, Oasis Capital Increases Stake | Oasis Vitality
Advisors on Vitality
MaHui Spotlight | Booster Robotics Announces Series A Funding Round, Existing Shareholder Source Code Capital Continues to Increase Stake
Where Are the Bold State Investors?
Breaking Down the Most Active Local State-Owned Capital.
Nankai Hecheng Completes 200 Million Yuan Series B Round | BlueRun Ventures Family
Accelerating Toward a Trillion-Yuan Future for the Polypeptide Industry
Year-end good news: CDH Investments has raised 5 billion yuan for logistics investments.
Insurance capital is turning its attention to real estate investments.
Rooted in Reality, Driven by Innovation, Moving Forward Without Pause | Dalton Venture's 2024 Annual Partners Meeting Successfully Concludes
Pressing forward into the real, advancing toward the new — the resolve to push ahead undimmed.
Galaxy Universal Raises 500 Million Yuan in Strategic Funding Round | BlueRun Ventures Headlines
Embodied Intelligence Powers a New Future for General-Purpose Robotics
Will the Primary Market Get Better? 9 People Talk About Some Real Problems
Difficult exits, difficult fundraising, and state capital's fault-tolerance mechanisms.
Heart Capital Leads Series A Investment in Baichuan, Continues AI Sector Bet | HeartStar PORTFOLIO
The funding round reached 5 billion yuan.
Yunqi Capital | Early-stage project "Qinghe Jingyuan" completes over 300 million yuan funding round, heterogeneous integration "chip force" continues to evolve
Seizing the "Chip Opportunity"
Reviving China's Primary Market
Already dormant.
Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
Code Moment | Unitree Raises Nearly 1 Billion RMB to Advance Technology for Global Progress
Who's Who in Shenzhen Capital Group's New Leadership Team
To study an organization, start with the people.
Accelerated R&D and Commercialization of Frontier Products: Medical Devices, Digital Services, and New Brands Go Global | Rongbao
As the year draws to a close and a new one begins, the pace never lets up.
Money, Contradictions, and ESG
*Who Cares Wins*
Baseus Technology Completes Series A+ Round to Build Moat Through Design Innovation and R&D
User-centric, practical, and beautiful.
MaHui Member KH Automotive Technologies Co., Ltd. Raises Over 300 Million Yuan in Series C; Source Code Capital Co-Led Series B
Including this Series C round, KH Automotive Technologies Co., Ltd. has completed four funding rounds in total, raising nearly RMB 1 billion in aggregate.
Entrepreneurship is a climb where the journey itself is the reward.
The journey is the reward.
Monolith's Xi Cao and His Eleven Musketeers
Starting a business is like climbing a mountain — the meaning lies in the climb itself.
Code Moment | DeepWise Closes Hundreds of Millions of RMB in Series A and A+ Rounds, Existing Shareholder Source Code Capital Continues to Increase Stake
Building Next-Generation Deep Energy-Saving Intelligent Control Products and Solutions
Chip/Consumer Electronics/Gene Editing Firms Raise New Funding; Quantum Computers, Micro-Display Chips Achieve Global Leadership | Rongbao · April
Targeting international advanced standards.
Consumer electronics leader Baseus Technology completes Series A financing of several hundred million RMB, staying true to "practical and beautiful"
Gaorong Ventures participated in the investment.
5Y News | 5Y Capital Portfolio Company PhiGent Robotics Closes Tens of Millions of USD in Series A+ Funding
Based on software-hardware co-optimization, we are building 3D intelligent computing for autonomous driving and robotics, enabling intelligent interaction between machines and the physical world.
The worse the market gets, the more GPs want LPs to have the guts to deploy capital.
GPs need to buckle down and get the work done — happily.
5Y News | Moore Threads Completes Series A Funding, First Domestic Full-Function GPU Successfully Developed
The Infrastructure of the AI Era
Gaorong Monthly · October | Gaorong Ventures Named Among Zero2IPO's Top 10 VC Firms of the Year; Nuro Closes Major Series D Round
Autonomous driving, healthcare, and chip sectors see new funding rounds; Genki Forest unveils "Triple Zero Factory" strategy; Dingdong Maicai stabilizes prices and ensures supply.
Smart home unicorn Aqara raises 1 billion yuan in Series C funding
Leading IoT innovation, creating smart homes that truly understand you.
To Better Kick Off March | 5Y News Monthly
The major events of February.
5Y News | GPU chip design company Moore Threads raises billions of yuan in funding within 100 days of founding
Building China's computing acceleration platform.
Rongbao · November | Yatsen Holding and Ucommune successfully list on US equities, Nuro closes Series C funding
Working together to create a better life.
Fruit Retail Giant Pagoda Announces Completion of Series B Financing, Source Code Capital Helps Accelerate Growth
Opening up its entire supply chain and franchise partnerships, Pagoda grows together with the fruit industry.
