15 investors back Shenzhen deep tech in 2026. The city is China's chip-design hub. State funds and Huawei money lead, with import substitution driving the bets.
Shenzhen deep tech runs on chips, and the city designs more silicon than any other in China. Export controls reshaped the bets here, pushing founders to build parts that replace the foreign components they can no longer reliably source.
State funds write most of the cheques in this market, while big tech players like Huawei back the rest through strategic stakes. Cheques range from US$250K at the accelerator stage to large RMB rounds, and the state funds consistently write the biggest tickets of all.
Chip rounds demand deep technical proof before anyone commits, so Ellty keeps your files in one tracked room where you can see exactly who studied them. That single source of truth lets you walk into each call already knowing which fund is serious.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Shenzhen Capital Group | State VC | RMB fund | Chips, materials, hard tech | szvc.com.cn |
| Huawei Hubble | Corporate CVC | RMB, minority stakes | Chip design, EDA, materials | huawei.com |
| China IC Industry Investment Fund | National state fund | Large strategic, RMB | Fabs, equipment, materials | China state fund |
| Oriental Fortune Capital | Hard-tech VC | US$3M-$30M | Chips, materials, advanced mfg | ofcapital.com |
| Green Pine Capital Partners | Early/growth VC | US$2M-$20M | New materials, deep tech | Shenzhen deep-tech VC |
| Cowin Capital | VC / PE | US$2M-$20M | Chips, telecom, hard tech | cowincapital.com.cn |
| Shenzhen Hi-Tech Investment | State VC | State financing | High-end equipment, chips | szhti.com.cn |
| Shenzhen Major Industry Investment Group | State platform | Large strategic, RMB | Fabs, strategic industry | Shenzhen state platform |
| China Merchants Capital | State-linked PE/VC | Growth, RMB + US$ | Deep tech, advanced mfg | Shenzhen state-linked PE |
| HAX (SOSV) | Deep-tech accelerator | US$250K-$500K | Hard tech, robotics, chips | hax.co |
| China Fortune-Tech Capital | Semiconductor VC (SMIC arm) | RMB fund | IC design, materials, equipment | cftcapital.com |
| Yuanhe Puhua | Semiconductor VC | RMB, ~US$1.5B AUM | Chip design, materials | China chip-focused VC |
| Legend Capital | Tech VC | RMB + US$ | Semis, deep tech, health | legendcapital.com.cn |
| CICC Capital | State-linked PE/VC | Large, RMB | Semis via guidance funds | cicc.com |
| Wuyuefeng Capital | Semiconductor VC | RMB fund | Integrated circuits, semis | China IC-focused VC |
Keep your chip data room ready for every fund
Deep tech funds run hard technical diligence on your specs and patents. Ellty logs every view so you know who is serious before the call.
Start free 14-day trialWhat a deep tech investor backs
A deep tech investor backs hard science and wants a real technical edge that rivals cannot copy overnight. They look for patents and a working chip, and they want proof that the design scales cleanly inside a real fab.
These rounds take years to pay off, so funds study the underlying science far more closely than the slide deck. A clean virtual data room speeds that review, and Ellty gives each fund one tracked link to your tech so you see who studied your specs first.
China has reached about an 80 percent substitution rate in domestic chip production versus imports, but that is mostly legacy chips of 28 nanometers and above.
15 Shenzhen deep tech investors
1. Shenzhen Capital Group
SCGC is Shenzhen's flagship state venture firm.
Recent Activity: Named GP of Shenzhen's 2025 RMB 5B chip fund
LinkedIn: Shenzhen Capital Group LinkedIn
Sector Focus: Chips, materials, hard tech
Stage Focus: Early to growth
Check Size: RMB fund
Location: Shenzhen
Website: szvc.com.cn
2. Huawei Hubble
Hubble is Huawei's chip and supply-chain arm.
Recent Activity: Holds stakes in 60-plus Chinese chip firms
Sector Focus: Chip design, EDA, materials
Stage Focus: Strategic
Check Size: RMB, minority stakes
Location: Shenzhen
Website: huawei.com
3. China IC Industry Investment Fund
The Big Fund anchors national chip money.
Recent Activity: Phase III holds RMB 344B for chips
Sector Focus: Fabs, equipment, materials
Stage Focus: Strategic, growth
Check Size: Large strategic, RMB
Location: Beijing
Website: China state fund
4. Oriental Fortune Capital
Oriental Fortune backs chips and new materials.
Recent Activity: Backs chip design and new materials
Sector Focus: Chips, materials, advanced mfg
Stage Focus: Early to growth
Check Size: US$3M-$30M
Location: Shenzhen
Website: ofcapital.com
5. Green Pine Capital Partners
Green Pine backs new materials and deep tech.
Recent Activity: Backs new materials and precision tech
LinkedIn: Green Pine Capital LinkedIn
Sector Focus: New materials, deep tech
Stage Focus: Early to growth
Check Size: US$2M-$20M
Location: Shenzhen
Website: Shenzhen deep-tech VC
6. Cowin Capital
Cowin invests across chips and deep tech.
Recent Activity: Invests across chips and deep tech
Sector Focus: Chips, telecom, hard tech
Stage Focus: Growth
Check Size: US$2M-$20M
Location: Shenzhen
Website: cowincapital.com.cn
Share one link with every Shenzhen chip fund
Ellty shows when SCGC or Huawei Hubble opens your specs. Follow up with each fund at the right time.
Start free 14-day trial7. Shenzhen Hi-Tech Investment
HTI runs a high-end equipment RMB fund.
Recent Activity: Runs a high-end equipment RMB fund
Sector Focus: High-end equipment, chips
Stage Focus: Early to growth
Check Size: State financing
Location: Shenzhen
Website: szhti.com.cn
8. Shenzhen Major Industry Investment Group
This state platform funds Shenzhen fab build-out.
Recent Activity: Co-GP of the 2025 RMB 5B chip fund
Sector Focus: Fabs, strategic industry
Stage Focus: Strategic
Check Size: Large strategic, RMB
Location: Shenzhen
Website: Shenzhen state platform
9. China Merchants Capital
China Merchants backs hard tech from Shekou.
Recent Activity: Backs hard tech from its Shekou base
Sector Focus: Deep tech, advanced mfg
Stage Focus: Growth
Check Size: Growth, RMB + US$
Location: Shenzhen
Website: Shenzhen state-linked PE
10. HAX (SOSV)
HAX runs a Shenzhen hard-tech accelerator.
Recent Activity: Runs a Shenzhen hard-tech accelerator
Sector Focus: Hard tech, robotics, chips
Stage Focus: Pre-seed, seed
Check Size: US$250K-$500K
Location: Shenzhen / global
Website: hax.co
11. China Fortune-Tech Capital
CFTC is SMIC's semiconductor venture arm.
Recent Activity: SMIC's arm backs chip design firms
Sector Focus: IC design, materials, equipment
Stage Focus: Early to growth
Check Size: RMB fund
Location: Shanghai
Website: cftcapital.com
12. Yuanhe Puhua
Yuanhe Puhua is a pure-play chip investor.
Recent Activity: A pure-play semiconductor investor
Sector Focus: Chip design, materials
Stage Focus: Early to growth
Check Size: RMB, ~US$1.5B AUM
Location: Beijing / Suzhou
Website: China chip-focused VC
13. Legend Capital
Legend backs chips, deep tech, and health.
Recent Activity: Backs chips, deep tech, and health
LinkedIn: Legend Capital LinkedIn
Sector Focus: Semis, deep tech, health
Stage Focus: Early to growth
Check Size: RMB + US$
Location: Beijing
Website: legendcapital.com.cn
14. CICC Capital
CICC Capital co-invests via state chip funds.
Recent Activity: Co-invests via state chip funds
Sector Focus: Semis via guidance funds
Stage Focus: Growth
Check Size: Large, RMB
Location: Beijing
Website: cicc.com
15. Wuyuefeng Capital
Wuyuefeng focuses on integrated circuits.
Recent Activity: An integrated-circuit focused investor
Sector Focus: Integrated circuits, semis
Stage Focus: Early to growth
Check Size: RMB fund
Location: Shanghai / Changzhou
Website: China IC-focused VC
Shenzhen's chip design edge
Shenzhen leads China in chip design, the discipline where Huawei HiSilicon first took root, and the city still sets the national pace. Huaqiangbei feeds the supply chain at a speed found nowhere else, letting designers source parts and test new boards in a matter of days rather than weeks.
Export controls pushed local firms to localize, so founders now build parts specifically to replace the imports they can no longer buy. A nearby buyer for your chip helps enormously, because funds back components that ship into real gear, and Ellty keeps your chip specs in one place so that proof is always at hand. Read our Shenzhen AI investors guide too.
Why state money leads
State funds dominate Chinese deep tech, with private VC playing a far smaller supporting role. The Big Fund anchors national chip money while Shenzhen layers its own funds on top, and together they set the priorities the whole market follows.
A state-backed round can pull private VCs in behind it, since it signals clear national priority to everyone watching. State backers move slowly and ask a great deal, so a clean fundraising file keeps things moving, and Ellty logs who opened each document so you can track every fund with document analytics.
From a lab idea to a funded chip
A seed round funds your first prototype, and the next round funds a tape-out, so each raise maps to a concrete technical milestone. Deep tech rounds are slow and large by nature, with state and strategic money tending to join late once the risk has come down.
A clean spec file keeps the deal moving, so have it ready well before the term sheet ever lands. Keep investors close with steady updates using investor relations tools, and store every file in one tracked Ellty room. Read our due diligence timeline and red flags guides.
How to pitch a deep tech investor
Lead with the hard technical proof.
- 1.Lead with the hard technical proof.Open with a working chip or prototype, not the market slide. Deep tech funds want to see the science works before they hear about the upside.
- 2.Map your path to a real fab run.Show a credible route from your current design to volume production in a real fab. Backers fund teams who can name the steps, partners, and timeline.
- 3.Share one Ellty link to your specs.Send each fund a single tracked link to your specs and patents. You see who opens each file and how long they spend inside it.
- 4.Follow up the day a fund digs in.Reach out the moment a fund starts studying your technical documents. Ellty shows that exact moment so your follow-up lands while interest is hot.
How Ellty helps you land a deep tech investor in Shenzhen
You've shortlisted your Shenzhen deep tech investors. Set up a data room before the first call.
- 1.Upload your specs, patents, and deck.Set access per fund or partner.
- 2.Share one trackable link with each fund.Each fund gets its own link.
- 3.Watch opens and follow up on time.Use analytics to time each nudge.
Shenzhen deep tech investor questions
- SCGC, Huawei Hubble, and HTI invest. State chip funds back too.
- Yes, it leads China in chip design. Huaqiangbei speeds up testing.
- Cheques run US$250K to large RMB rounds. State funds write the biggest.
- State funds drive chip self-reliance. The Big Fund anchors the money.
- A real technical edge and patents. A clear path to a fab run.
- Before your first investor call. Track who opens your chip specs.
