Heart Capital's portfolio companies MetaX, Micro-Nano Starry Sky, and Star Energy Xuan Guang named to ChinaVenture's "2026 Annual Rankings" | Heart Capital NEWS
Invest in China's tech sector with conviction and care.
On April 24, ChinaVenture — a leading independent third-party organization in China's equity investment industry — unveiled the "2025 ChinaVenture Awards." Heart Capital was named one of the "Top 50 Best Foreign VC Firms in China 2025." At the same time, several Heart Capital portfolio companies received recognition: MetaX was selected for the "Top 5 Best Exit Cases in China's Semiconductor and Integrated Circuit Industry," Micro-Nano Satellite was named to the "Top 10 Best Investment Cases in Advanced Manufacturing," and Star Energy Xuan Guang made the "Top 10 Best Investment Cases in China's Carbon Neutrality Industry."
On December 17, 2025, MetaX (688802.SH), a leading domestic high-performance GPU company, officially listed on the STAR Market. To date, the company's market cap approaches 300 billion RMB. As one of MetaX's earliest investors, Heart Capital made a decisive bet five years ago. This marks a new phase for domestic GPU chips — moving beyond proof-of-concept toward scale and commercialization.
By the end of 2025, Micro-Nano Satellite, a top-tier domestic satellite manufacturer, announced it had raised 1.56 billion RMB in equity financing throughout the year, funds that will go toward R&D and capacity expansion, strengthening self-reliance capabilities, and taking on more national and commercial missions. The company completed IPO guidance filing with the Beijing Securities Regulatory Bureau in September 2025, and by January 2026 its review status had been updated to "under review."
In January of this year, Star Energy Xuan Guang, a pioneer in commercializing controlled nuclear fusion, achieved first plasma discharge on its new-generation advanced field-reversed mirror device FLAME at its Hefei experimental facility. This milestone breakthrough signals the company's formal transition from engineering design to physical experimentation — a substantive and critical step forward in the global race for commercial fusion energy.
Heart Capital is building an increasingly clear vision of the future along the trajectory of Chinese technology: starting from AI and embodied intelligence, putting down deep roots in foundational layers like chips, semiconductors, and controlled nuclear fusion, and extending outward into the vast domains of space and ocean. Confronting these grand questions that will define the future, we will continue to seek out and back entrepreneurs with global vision and unwavering conviction — becoming their most steadfast partners for the long run.
For 20 consecutive years, ChinaVenture has published the ChinaVenture Awards as an independent third-party organization — a series of rankings covering China's venture capital and private equity institutions. Drawing on CVSource data and surveys of over a thousand active investment institutions in the PE space, the ChinaVenture Research Institute verifies data against selection criteria to identify top performers. As a result, the ChinaVenture Awards have earned a reputation in the industry for professionalism, authority, and rigor — widely regarded as a bellwether for China's equity investment industry and a key reference point for major institutional LPs when making allocation decisions.
Founded in 2022, Heart Capital is an early-stage venture capital fund focused on technology and digitalization in China. The team is led by Yan Han, founding partner of Lightspeed China, alongside core investors, a CFO, and seasoned investors with deep industry backgrounds. The team's past investments include Series A investments in Xpeng Motors (NYSE: XPEV, 09868.HK) and Full Truck Alliance (NYSE: YMM); Pre-Series A investment in MetaX (688802.SH); as well as RoboSense (02498.HK), FinVolution (NYSE: FINV), LandSpace, Micro-Nano Satellite, HT Aero, Xi Wang, Polestones, Sunmi, World Logistics, Baichuan, Manbang Cold Chain, Fan Deng Reading, Lanhu, and Starfield.
Rooted in China with a global outlook, Heart Capital is committed to finding true value in non-consensus spaces. We respect the value of people and champion the potential of the human spirit. We look forward to accompanying more young Chinese entrepreneurs as they build strength at home and reach out to the world.