14 seed funds back Shenzhen startups in 2026. They write the first institutional cheque. State and RMB money leads, and cheques stay small and selective.
Seed funds come after the angels and write the first big institutional cheque, usually leading the round and taking a board seat once they back you on early proof. State and RMB money now runs this stage in China, with USD funds pulled back, so most cheques land between US$1M and US$10M while state co-investments can run a good deal larger.
Seed rounds in Shenzhen move fast on tight data, and a fund that likes your traction will want to dig into the numbers within days. Ellty keeps every file in one tracked room, so you share a single link and see exactly who opened your deck and when.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| MiraclePlus | Seed accelerator-fund | US$300K for ~7% | AI, robotics, hard tech | miracleplus.com |
| ZhenFund | Institutional seed VC | ~US$2.5M-$15M | AI, chips, health | zhenfund.com |
| K2VC | Pre-seed / seed VC | Early-stage, RMB | AI, biotech, climate | k2vc.com |
| Linear Capital | Frontier-tech seed VC | Early-stage, RMB + US$ | AI, data, deep tech | linear.vc |
| Sky9 Capital | Seed-to-growth VC | Seed-stage cheques | AI, deep tech, biotech | sky9capital.com |
| Yunqi Partners | Seed / early VC | Early-stage cheques | SaaS, deep tech, supply | yunqipartners.com |
| Northern Light Venture Capital | Early-stage VC | Early-stage cheques | Tech, hardware, health | nlvc.com |
| Vertex Ventures China | Seed / early VC | US$1M-$50M | Deep tech, health, consumer | vertexventures.cn |
| Tsing Capital | Cleantech early VC | US$1M-$10M | Clean tech, materials | tsingcapital.com |
| Green Pine Capital Partners | Seed / early VC | Early-stage, RMB | Deep tech, materials, health | Shenzhen seed VC |
| Oriental Fortune Capital | Early-stage VC | Early-venture cheques | Hard tech, materials, health | ofcapital.com |
| Cowin Capital | Early-stage VC | Early-stage cheques | Tech, healthcare | cowincapital.com.cn |
| Shenzhen Capital Group | State seed VC | Seed avg ~US$13.7M | Hard tech, health, energy | szvc.com.cn |
| Legend Star | Seed / angel VC | Seed/angel, RMB | Frontier tech, AI, health | legendstar.com.cn |
Keep your seed data room ready for every fund
Seed funds dig into your numbers before they lead. Ellty logs every view so you know who is serious before the call.
Start free 14-day trialWhat a seed investor backs
A seed fund backs early but real traction, looking for that first signal that the product works and the market responds. Most lead the round and set the terms, and the majority will take a board seat as part of the deal.
Beyond the early metrics, a seed fund needs to see a market large enough to justify the bet, and a clean fundraising file makes that case far easier to read. Ellty gives each fund its own tracked link, so you can see who opened your deck first and gauge their real interest before the meeting.
The fund will act as a risk-sharing mechanism, effectively serving as an angel investor by absorbing early-stage risks and encouraging broader social participation in innovation financing.
14 Shenzhen seed investors
1. MiraclePlus
MiraclePlus runs a seed accelerator led by Lu Qi.
Recent Activity: Accelerated 500-plus startups by 2025
Sector Focus: AI, robotics, hard tech
Stage Focus: Pre-seed, seed
Check Size: US$300K for ~7%
Location: Beijing
Website: miracleplus.com
2. ZhenFund
ZhenFund leads seed rounds from a Shenzhen office.
Recent Activity: Backed 800-plus companies since 2011
LinkedIn: ZhenFund LinkedIn
Sector Focus: AI, chips, health
Stage Focus: Seed, Series A
Check Size: ~US$2.5M-$15M
Location: Beijing / Shenzhen office
Website: zhenfund.com
3. K2VC
K2VC writes some of China's earliest cheques.
Recent Activity: Backed 700-plus companies by 2024
LinkedIn: K2VC LinkedIn
Sector Focus: AI, biotech, climate
Stage Focus: Pre-seed, seed
Check Size: Early-stage, RMB
Location: Beijing
Website: k2vc.com
4. Linear Capital
Linear backs frontier tech at the seed stage.
Recent Activity: Closed a USD Fund V in 2024
LinkedIn: Linear Capital LinkedIn
Sector Focus: AI, data, deep tech
Stage Focus: Seed, early
Check Size: Early-stage, RMB + US$
Location: Shanghai
Website: linear.vc
5. Sky9 Capital
Sky9 leads seed rounds and has a Shenzhen office.
Recent Activity: Raised ~US$239M for two funds
LinkedIn: Sky9 Capital LinkedIn
Sector Focus: AI, deep tech, biotech
Stage Focus: Seed to growth
Check Size: Seed-stage cheques
Location: Shanghai / Shenzhen office
Website: sky9capital.com
6. Yunqi Partners
Yunqi was an early backer of MiniMax.
Recent Activity: An early backer of MiniMax
LinkedIn: Yunqi Partners LinkedIn
Sector Focus: SaaS, deep tech, supply
Stage Focus: Seed, early
Check Size: Early-stage cheques
Location: Shanghai
Website: yunqipartners.com
Share one link with every Shenzhen seed fund
Ellty shows when a fund opens your deck. Follow up at the right moment, not days later.
Start free 14-day trial7. Northern Light Venture Capital
Northern Light backs early tech with a Shenzhen office.
Recent Activity: An established early-stage backer
Sector Focus: Tech, hardware, health
Stage Focus: Seed, early
Check Size: Early-stage cheques
Location: Hong Kong / Shenzhen office
Website: nlvc.com
8. Vertex Ventures China
Vertex runs a seed-focused angel fund in China.
Recent Activity: Closed a RMB 500M angel fund in 2024
Sector Focus: Deep tech, health, consumer
Stage Focus: Pre-seed to Series B
Check Size: US$1M-$50M
Location: Beijing / Shenzhen office
Website: vertexventures.cn
9. Tsing Capital
Tsing Capital is one of China's first cleantech VCs.
Recent Activity: One of China's first cleantech VCs
LinkedIn: Tsing Capital LinkedIn
Sector Focus: Clean tech, materials
Stage Focus: Early stage
Check Size: US$1M-$10M
Location: Shenzhen
Website: tsingcapital.com
10. Green Pine Capital Partners
Green Pine runs a dedicated early-stage fund.
Recent Activity: Runs a dedicated angel fund too
LinkedIn: Green Pine Capital LinkedIn
Sector Focus: Deep tech, materials, health
Stage Focus: Seed, early
Check Size: Early-stage, RMB
Location: Shenzhen
Website: Shenzhen seed VC
11. Oriental Fortune Capital
Oriental Fortune backs early hard-tech founders.
Recent Activity: Backs early hard-tech founders
Sector Focus: Hard tech, materials, health
Stage Focus: Early to growth
Check Size: Early-venture cheques
Location: Shenzhen
Website: ofcapital.com
12. Cowin Capital
Cowin backs early tech and healthcare founders.
Recent Activity: Backed 500-plus companies to date
LinkedIn: Cowin Capital LinkedIn
Sector Focus: Tech, healthcare
Stage Focus: Early to growth
Check Size: Early-stage cheques
Location: Shenzhen
Website: cowincapital.com.cn
13. Shenzhen Capital Group
SCGC backs hard tech early as a state seed giant.
Recent Activity: Holds over 1,700 portfolio firms
Sector Focus: Hard tech, health, energy
Stage Focus: Seed to growth
Check Size: Seed avg ~US$13.7M
Location: Shenzhen
Website: szvc.com.cn
14. Legend Star
Legend Star backs frontier tech at the seed stage.
Recent Activity: Closed a ~US$124M RMB fund
LinkedIn: Legend Star LinkedIn
Sector Focus: Frontier tech, AI, health
Stage Focus: Angel, seed
Check Size: Seed/angel, RMB
Location: Beijing
Website: legendstar.com.cn
Why state money leads seed
State funds now drive Chinese seed and hold most of the venture capital in the country, and a new national fund is aimed squarely at the seed stage with most of its capital required to back early firms. These funds favor hard-tech founders, and Shenzhen seed in particular leans toward hardware, where state backing can carry the most weight.
A state co-investor can stretch your round well beyond what private money alone would commit, and it signals quality to the other VCs weighing your deal. Ellty keeps your seed data in one place so every fund sees the same tidy room, and you can read our Shenzhen angel investors guide for the stage that comes before this one.
What seed funds check first
Seed funds dig deeper than angels do, scrutinizing both your team and the size of your market before they commit. They want clean numbers in one place rather than scattered across emails, and a tidy virtual data room makes that far easier to deliver.
A weak metric stands out fast at this stage, so have your story ready before they ask and keep investors warm with regular updates using investor relations tools. Ellty logs who opened each document so nothing gets lost, and you can track every fund's activity with document analytics.
From seed to a Series A
A seed round buys you roughly 18 months to grow, while a Series A will want to see real revenue before it commits. Shenzhen seed cheques stay small for now and funds back fewer firms each year, so a strong seed has to set up the next round cleanly.
Start that next raise before you run low on runway, because a well-run seed is what makes the Series A conversation possible. Read our due diligence timeline guide to know what each fund checks first, and Ellty stores every file in one room so you can see the red flags funds watch for.
How to pitch a seed investor
Lead with traction that is real.
- 1.Lead with traction that is real.Open with the numbers that are actually moving, not vanity metrics. Show growth, retention, or revenue that proves the product works.
- 2.Show the market is big enough.Funds want a prize large enough to return the whole fund. Make the size of the opportunity clear and credible with real data.
- 3.Share one Ellty link to your data.Send a single trackable link instead of email attachments. Ellty shows you exactly who opens each file and how long they stay.
- 4.Follow up the day a fund digs in.Timing your nudge to real interest beats a generic check-in. Ellty shows you the moment a partner starts reading, so you reach out when it counts.
How Ellty helps you land a seed investor in Shenzhen
You've shortlisted your Shenzhen seed funds already. Set up a data room before the first call.
- 1.Upload your deck, metrics, and plan.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 seed investor questions
- Funds like SCGC, ZhenFund, and Cowin. State seed funds lead too.
- Most run US$1M to US$10M. State co-investments run larger.
- Angels write the first small cheque. Seed funds lead the bigger round.
- Yes, more each year. State funds hold most venture capital.
- Real traction and a big market. A clear plan to a Series A.
- Before your first seed call. Track who opens your deck.
