Shenzhen Capital Group

Shenzhen Capital Group (深创投 / SCGC) is a state-backed venture capital firm rooted in Shenzhen's state asset system. It was founded in 1999 under the Shenzhen municipal government and has been led since 2015 by Ni Zewang, who took over from the long-tenured Jin Haitao after Jin's retirement at age 61 . The firm operates under a chairman-led structure that traces back to 2004, when the Shenzhen SASAC shifted it from a president responsibility system and later separated its mission from that of Shenzhen Investment Holdings (深投控), with which it now co-manages the Shenzhen Angel Fund .

SCGC is one of China's most active institutional investors across early and growth-stage technology. Its recent bets cluster heavily in AI and hard tech: it led or co-led rounds in embodied intelligence startup AI² Robotics , humanoid firm Independent Variable Robotics , aerial robotics company DiffRobotics , and 3D generative AI firm AheadForm , while also backing Galaxy Universal , Baichuan , and Moore Threads in the chip sector . The firm has also made notable consumer and industrial investments, leading Baseus's Series A and A+ rounds and backing Aqara's billion-yuan Series C . A 2026 funding round marked its AI fund's first investment .