Zero2IPO

Zero2IPO (清科创业) operates China's long-running annual equity-investment league tables through its research arm, 清科研究中心 (Zero2IPO Research). The rankings, launched in 2001, score VC and PE firms on fundraising, deal flow and exits using a proprietary SaaS database called 私募通 (PEdata) . Firms such as Linear Capital, ZhenFund and Yunqi Capital routinely cite placement on these lists—typically "Top 30 Early-Stage Investment Firms" or sector-specific 10-strong rankings—as third-party validation in their own press releases . The 2025 edition, published 29 December 2025, marked the 25th consecutive year of the survey . Elsewhere's corpus does not contain detail on Zero2IPO's corporate structure, ownership or revenue model beyond its role as a rankings provider.