Linear Capital held its annual USD investor conference, while its angel-round portfolio company Horizon Robotics listed on the main board of the Hong Kong Stock Exchange.

On October 24, Linear Capital held its annual USD investor conference in Hangzhou. Over 100 LP guests and founders from Linear's portfolio companies attended.

Group photo of guests The two-day event began with a 2024 investment review themed "Taking Gems From Fire," followed the next morning by a group run around West Lake — Linear believes that in today's challenging environment, building resilience and physical strength is more important than ever. The itinerary also included site visits to three Linear portfolio companies.

Harry Wang, Founder and CEO of Linear Capital During his keynote on the first morning, Harry Wang, Founder and CEO of Linear Capital, noted that 2024 marks Linear's tenth anniversary and thanked all who have supported the firm. Looking ahead to the next decade, Harry emphasized that Linear will continue creating value amid challenging conditions — the meaning behind this year's theme, "Taking Gems From Fire." He also shared updates on projects in Linear's three core investment areas — AI-powered software, AI-powered hardware (with robotics as a representative example), and innovations in new materials, new energy, and bioscience — along with Linear's 2024 investment results.

Of particular note, Harry mentioned that since its founding, Linear has consistently believed in the value that frontier technology brings to industries, markets, and society at large. And on this very day, Horizon Robotics, a Linear angel investment, was making its official debut on the Hong Kong Stock Exchange's main board. Harry said, "I've always believed that going public is a new starting point for a tech company. Tech investing and tech entrepreneurship are long, hard roads. Beyond congratulating Horizon on its remarkable achievement, Linear especially hopes Horizon's growth story will inspire more tech entrepreneurs — we believe Horizon has set a strong example, and that a new generation of Chinese hard-tech founders will bring the best technology products to the world, drive progress across many industries, and make this world a better place."

Unable to attend in person, Kai Yu, Founder and CEO of Horizon Robotics, recorded a video message for the event.

Kai Yu's video message played at the event In the video, Yu said: "Horizon and Linear Capital have been companions since our youth, brothers in arms. Many people may not know that when I was working at Baidu, I had absolutely no intention of starting a company. Harry told me, 'I know you don't want to start a company now, but if one day you do, you must come to me first.' I didn't think much of it at the time. Two years later, in 2015, when I did have the idea to start a company, my first call was indeed to Harry, and Linear became Horizon's first institutional investor. Over the years we've supported and helped each other, persevering together in the hard-tech track, and we've both had our wins. My not being able to attend this year is, in a way, a meaningful coincidence — October 24 is Linear's annual conference, and it happens to be Horizon's IPO day in Hong Kong. Looking ahead, I believe that Linear's portfolio companies, like Horizon, like me, like Harry, all share a dream — that hard tech can change the world and make people's lives better. I'm certain many portfolio companies will stand out in the future. Linear Capital, Horizon, and other Linear portfolio companies — together we'll form a community, an ecosystem, and push Chinese hard tech onto the world stage. I wish Linear's conference every success, happy tenth anniversary to Linear, and congratulations to my good friend Harry — may you stay forever young, forever a boy in spirit. Thank you, everyone."

In the afternoon, three Linear portfolio companies shared their growth stories and latest product developments with attendees: Marko Bjelonic, Founder and CEO of Swiss-Mile, an embodied intelligence startup where Linear led the Pre-seed round; Hao Zhu, Co-founder and CTO of Manycore Tech (Kujiale), a Linear angel investment; and Lifeng Xiao, Founder and CEO of Green Carbon Synthesis, a developer of processes for producing sustainable aviation fuel and naphtha, which Linear exclusively led at the angel stage.

Marko Bjelonic, Founder and CEO of Swiss-Mile

Hao Zhu, Co-founder and CTO of Manycore Tech (Kujiale)

Lifeng Xiao, Founder and CEO of Green Carbon Synthesis After the founder presentations, Can Zheng, Managing Director at Linear Capital, moderated a panel with Marko Bjelonic of Swiss-Mile, Hao Zhu of Manycore Tech, Changyin Zhou, Founder and CEO of Shijian Ruilai, and Xianfeng Wang, Founder and CEO of Baoxiaohe, exploring how tech startups can leverage their technical strengths and accumulated expertise to expand into global markets.

From left: Can Zheng, Managing Director at Linear Capital; Changyin Zhou, Founder and CEO of Shijian Ruilai; Marko Bjelonic, Founder and CEO of Swiss-Mile (via video); Hao Zhu, Co-founder and CTO of Manycore Tech; Xianfeng Wang, Founder and CEO of Baoxiaohe

About Linear Capital

Linear Capital is an early-stage investment firm focused on "frontier technology + industry," targeting data intelligence, digital infrastructure, next-generation robotics, and technology-driven transformation in traditional sectors such as biomedicine, materials, and energy. By applying frontier technology across vertical industries to dramatically improve efficiency, solve critical pain points, and enable industrial upgrading, Linear aims to generate outsized returns through substantial industrial value creation. The firm currently manages ten funds with approximately $2 billion in total assets under management.

Linear primarily leads investments from angel through Series A, with check sizes ranging from $1 million to $10 million (or RMB equivalent).

To date, Linear has made early-stage investments in over 120 teams, including Horizon Robotics, Kujiale, Sensors Data, Tezign, Rokid, Guandata, and Agile Robots. The combined valuation of Linear's portfolio companies is approximately $20 billion.

In the near term, Linear Capital is working to become the premier Data Intelligence Technology Fund, with a long-term vision of building the most influential Frontier Technology Application Fund.