Xuhui Capital

Xuhui Capital (徐汇资本) is a Shanghai-based government-backed fund that has surfaced in elsewhere's corpus mainly as a co-investor in AI and hard-tech deals. In February 2026 it joined the over-RMB-5 billion B+ round for large-model startup StepFun alongside state-linked investors such as Shanghai SDIC Pioneer Fund and Guoshou Equity, as well as Tencent and existing backers 5Y Capital and Qiming Venture Partners . It also led the Pre-A round for Yunqi Capital portfolio company Yitu Technology, an "AI + automotive" startup building vertical large models and intelligent cockpit AIOS systems, in March 2025 .

The fund appears to operate as a regional capital vehicle—its name ties it to Xuhui District in Shanghai—and its deal flow clusters on AI infrastructure, embodied intelligence, and semiconductor-related bets. Elsewhere's corpus does not yet capture its full fund size, vintage, or team structure.