Oasis Capital Closes $275 Million for Second USD Fund, Oversubscribed

Oasis Capital recently announced the final close of its USD Fund II, which was oversubscribed and hit its hard cap of $275 million, exceeding its original target of $250 million. The fundraising process, which formally kicked off on May 12 and held its first close on July 28, took just three months. All investors from USD Fund I recommitted at 100%. Fund II also welcomed several new global blue-chip fund-of-funds, foundations, family offices, and insurance groups as long-term investors. Oasis Capital is deeply honored to partner with both new and existing long-term capital to support China's digital transformation.

To date, Oasis Capital manages two USD funds — Fund I and Fund II — with investors drawn primarily from long-term capital sources at home and abroad, including industry-leading enterprises, internet entrepreneurs, founders of listed companies both domestically and overseas, overseas fund-of-funds, insurance groups, foundations, and family offices. The share of long-term institutional investors has risen from 50% in Fund I to 80%.

Oasis Capital's USD Fund II will continue its "selective, concentrated" investment strategy, planning to back no more than 30 projects focused on healthcare digitization and enterprise services. Fund I has invested in over ten companies to date, with representative portfolio companies including Mairuitech, Chenfeng Information, Luomu Technology, Shouhoubao, Forsman, and Miaoxiang. Founding Partner Jinjian Zhang commented: "China is upgrading from a scale economy to a quality economy. This transition will inevitably involve extraordinary change, and with it, extraordinary opportunity. This opportunity is no longer about the discovery and circulation of 'resources,' but about the focus and evolution of 'expertise' — requiring sustained, multi-generational commitment and conviction across society. Oasis is deeply honored to bear witness to and grow alongside the most vital entrepreneurs of our era."

Selective, Concentrated, Convicted

Historical transformations often emerge from the "margins" — just as the first ape to walk upright never lived at the jungle's "core." It is the intersection of different disciplines and temporalities that has given rise to the magnificent evolution of human civilization.

Yet such transformation — whether Copernicus's reconception of the objective world or Steve Jobs's disruption of established rules — has never found "consensus" to be its constant companion.

Tesla went public in 2010, then spent the following decade perpetually teetering on the brink of bankruptcy. Align Technology went public in 2001, and its stock took ten years to escape "loss-making" territory. Innovation and development have always required a group of people to focus, persist, and believe together — to endure until the day "consensus" finally arrives. And when market consensus does arrive, it rewards these steadfast believers with extraordinary reputation and wealth, as both companies ultimately delivered hundreds of times returns to their investors.

It is with this conviction that Oasis believes: being "selective" in identifying the most vital entrepreneurs and "concentrating" capital with them for the long term is the surest way to drive societal transformation.

Zhibin Cai, Founder and CEO of Chenfeng Technology (Oasis Capital was its angel investor and subsequently invested across five consecutive rounds): "Chenfeng has been exploring innovation — even revolution — in the SCRM domain, which is extraordinarily difficult. It requires massive investment, constant direction-finding, unwavering resolve, and the ability to seize opportunities. The more we experience these hardships, the more grateful we are for patrons like Oasis, who placed enormous trust, help, and support in us from the very beginning of our journey. Going forward, Chenfeng will remain grounded in building great products and driving sustained innovation in SCRM, hoping to become a towering tree in the Oasis ecosystem."

Meizhong Wei, Founder and CEO of Mairuitech (Oasis Capital was its Series B investor and subsequently invested across two consecutive rounds): "In the spring of last year, when most investment institutions were still in a wait-and-see mode due to the pandemic, we met Oasis — and we hit it off immediately. Throughout the transaction, Oasis demonstrated extreme professionalism, introduced substantial resources to us, and provided many sound recommendations for the company's future development planning. We deeply feel that Oasis is a professional investment institution that can truly accompany our growth — a rising firm with capability, vision, and expertise."

Zhenxing Heng, Founder and CEO of Miaoxiang Technology (Oasis Capital was its angel investor and subsequently invested across three consecutive rounds): "Miaoxiang is a home furnishing trading platform built on the prefabricated construction industry, with a mission to reconstruct spatial service efficiency. We are deeply grateful to Oasis Capital for its continuous support from our earliest fundraising through multiple subsequent rounds. Having been accompanied all along the way, we can deeply feel the Oasis force grounded in 'nurturing vitality.' We also believe that with our shared conviction in 'long-term vitality,' we will surely flourish in the vast oasis of our era!"

Zhiyan Xu, Founder and CEO of Forsman Medical (Oasis Capital was its angel investor and subsequently invested across two consecutive rounds): "Before we formally partnered with Oasis Capital, we had met with them roughly twenty times. Every conversation sparked new ideas, and I felt that Oasis truly understood this industry — we were digging deep and researching together. This made me feel that Oasis was like a partner, which is what entrepreneurs need most, rather than purely a financial investor. I believe it was a convergence of values that brought us together. My feeling is that Oasis is not merely a financial investor, but more like a entrepreneurial partner."

Nurturing Vitality

Technological transformation acts upon industries, yet is never confined to them. When God casts the stone of technology into the lake of civilization, ripples spread across industry, commerce, and organization — ultimately awakening cognition and illuminating minds.

We believe the best relationship between capital and entrepreneurship is that of soil and seed: discovering, connecting with, and nurturing the most vital seeds, accompanying them as they take root, sprout, and grow. We cannot be great rivers, nor lighthouses or monuments. We hope to channel our technological insight, passion for the era, and faith in the future into a gentle stream, ever-flowing and ever-living.

Green shade spreads, reaching the ends of the earth.

Nurturing vitality

Oasis Capital is a new-generation venture capital firm in China, dedicated to discovering the most vital entrepreneurs of the coming decade and growing alongside them to create long-term value. "Nurturing vitality" is Oasis's vision and mission. This vitality is both the direction of structural transformation in our era and the resilient, evolving force of entrepreneurs themselves.

Oasis Capital focuses on early and growth-stage investments, with individual ticket sizes ranging from $3 million to $30 million. It concentrates on technology-enabled services in healthcare, enterprise services, and related domains, supporting China's technology-driven new services upgrade.