Heart Capital's Yanchen Liu: Based in China, Global Vision, Accompanying Chinese Tech Companies to the World | Voice
Invest in China's tech with conviction.
On August 20, the "Global Top 50 Chinese Venture Capitalists Awards Ceremony," hosted by Caijing magazine and Fosun Infinity, was held at the CHAO Hotel in Beijing's Sanlitun district. Yanchen Liu, partner at Heart Capital, was invited to attend. Earlier, the 2025 Caijing Global Top 50 Chinese Venture Capitalists rankings were officially released, with Yan Han, founding partner of Heart Capital, making the list.
Yanchen Liu participated in a fireside chat titled "Symbiosis Without Borders: The China Solution in the Globalization 3.0 Era." She noted: "The biggest change this year is confidence, but for investors, we need to stay even calmer. Right now, VC investors and founders have together entered the deep water zone — and the deep water zone is where real skill gets tested. Everyone needs to pay attention to both the macroeconomy and the on-the-ground temperature, and strike a balance between the two. With the broad consensus around companies going global and globalization, the question is how to find niche scenarios that present non-consensus opportunities for us, and how better localized operations can create non-consensus opportunities. Heart Capital hopes to be based in China but with a global perspective, helping our portfolio companies connect with strategic resources, customers, and capital overseas, and through this approach help them accelerate their path to globalization. Over the next five years, we are highly bullish on all opportunities brought by AI, including AI infrastructure, AI + hardware and software applications across industries, and frontier technologies."
As a China-rooted venture capital firm, Heart Capital focuses on technology investments in new energy, new mobility, and digitalization, committed to finding genuine value in non-consensus bets. Whether it's helping companies expand globally or backing the industry-wide transformation triggered by AI, Heart Capital stands ready — using China's innovation ecosystem as its foundation and a globalized vision as its rudder, sailing with bold founders toward new horizons.
Founded in 2022, Heart Capital is an early-stage venture capital firm focused on technology and digitalization.
The Heart Capital team is composed mainly of founding partners and core investors from Lightspeed China, along with seasoned industry investors from Cainiao and Baidu. The team's past investments include Xpeng Motors (NYSE: XPEV, 09868.HK), Full Truck Alliance (NYSE: YMM), Ambiq Micro (NYSE: AMBQ), RoboSense (02948.HK), QuantaSing (NASDAQ: QSG), FinVolution (NYSE: FINV), Hanshow Technology (301275.SZ), as well as FangDD (NASDAQ: DUO), Micro-nano Starry Sky, LandSpace, Baichuan, Manman Cold Chain, Fan Deng Reading, World Logistics, Lanhu, and Starfield, among others.
