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Puhua Capital

杭州市西湖区天目山路272号黄龙时代广场B座19F, 杭州市, 浙江省, 310000, China

Overview

Equity investment firm focusing on early and middle-stage projects.

Founded

2004

Deals · 12mo

7

Links

WebsiteLinkedIn

Stage focus

Series A
Series B

Geographic focus

China
United Kingdom

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

33rounds
NAMEDATESIZE
Discover Robotics
Jul 2026Participated
$100 MSeed
OriginFlow
May 2026Participated
$73 MSeries A
GigaAI
Apr 2026Participated
$220 MSeries B
Spacety
Apr 2026Participated
$190 MOther Equity
DeepWay
Jan 2026Participated
$172 MOther Equity
Haimai Medical
Dec 2025Led
$14 MSeries A
TCab Tech
Nov 2025Participated
$42 MSeries B
INMO Glass
Aug 2025Participated
$21 MSeries B
Silicon Flow
Feb 2025Participated
$14 MSeries A
Natrox
Dec 2024Led
$33 MSeries C
Meichuang Technology
Oct 2024Participated
$14 MOther Equity
Garen Semiconductor
Aug 2024Participated
$14 MSeries A
Discover Robotics
Jul 2026Participated
$100 MSeed
OriginFlow
May 2026Participated
$73 MSeries A
GigaAI
Apr 2026Participated
$220 MSeries B
Spacety
Apr 2026Participated
$190 MOther Equity
DeepWay
Jan 2026Participated
$172 MOther Equity
Haimai Medical
Dec 2025Led
$14 MSeries A
TCab Tech
Nov 2025Participated
$42 MSeries B
INMO Glass
Aug 2025Participated
$21 MSeries B
Silicon Flow
Feb 2025Participated
$14 MSeries A
Natrox
Dec 2024Led
$33 MSeries C
Meichuang Technology
Oct 2024Participated
$14 MOther Equity
Garen Semiconductor
Aug 2024Participated
$14 MSeries A
33
Items
...
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Insights

Time horizon

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Deal Distribution

Puhua Capital: 33 funding rounds are recorded in the selected participation categories.All available history.
Puhua Capital: 33 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed01
Series A37
Series B210
Series C+22
Other Equity06

Monthly Deal Activity

Puhua Capital: 33 deals are recorded across 120 months.All available history.
Puhua Capital: 33 deals are recorded across 120 months. All available history
MonthDeals
Nov '161
Dec '160
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '171
Aug '170
Sep '170
Oct '170
Nov '171
Dec '170
Jan '181
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '191
Aug '190
Sep '190
Oct '191
Nov '190
Dec '191
Jan '200
Feb '201
Mar '200
Apr '201
May '200
Jun '200
Jul '200
Aug '200
Sep '201
Oct '200
Nov '201
Dec '200
Jan '211
Feb '210
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '210
Sep '210
Oct '211
Nov '211
Dec '210
Jan '221
Feb '220
Mar '220
Apr '220
May '220
Jun '221
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '232
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '242
Sep '240
Oct '241
Nov '240
Dec '241
Jan '250
Feb '251
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '251
Sep '250
Oct '250
Nov '251
Dec '251
Jan '261
Feb '260
Mar '260
Apr '262
May '261
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

Puhua Capital: Health & Life Sciences is the largest displayed sector by deal count (14 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Puhua Capital: Health & Life Sciences is the largest displayed sector by deal count (14 deals). All available history
SectorDeals
Health & Life Sciences14
AI & Machine Learning10
Space & Frontier Tech9
Hardware & Robotics8
Networks, Cloud & Communication6
Manufacturing6
Transportation & Logistics5
Data, Analytics & IT2
Media & Entertainment2
Cybersecurity & Privacy1
E-Commerce & Retail1
AR/VR1
Clean Energy & Sustainability1
Food & Agriculture1
Professional Services1
Developer Tools1

Deal Size Distribution

Puhua Capital: 33 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Puhua Capital: 33 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M2
$10M-$25M14
$25M-$50M5
$50M-$100M4
$100M-$250M8
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Puhua Capital: China has the largest recorded deal count among the displayed regions (20 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Puhua Capital: China has the largest recorded deal count among the displayed regions (20 deals). All available history
RegionDeals
China20
Europe10
United States3
Puhua Capital: 20 co-investors are shown, with Amadeus Capital Partners sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Puhua Capital: 20 co-investors are shown, with Amadeus Capital Partners sharing 4 recorded deals. All available history
Co-investorShared deals
Amadeus Capital Partners4
IDG Capital3
Downing Ventures2
Legend Capital2
Lenovo Capital2
Parkwalk Advisors2
Tencent2
58 Shenqi Capital1
ABC Impact1
Amber Invest1
ARCH Venture Partners1
BlackRock1
BlueCross BlueShield Venture Partners1
Boundary Capital1
btov Partners1
Cambridge Innovation Capital1
Charles River Laboratories1
Chimera Abu Dhabi1
China Growth Capital1
China Information Industry Investment1

Investment Strategy

Puhua Capital: Led accounts for 21% and participating for 79% of round participation.All available history.
Puhua Capital: Led accounts for 21% and participating for 79% of round participation. All available history
CategoryDeals (count)Share (%)
Led721%
Participating2679%
Puhua Capital: Single-lead accounts for 43% and co-led for 57% of lead dynamics.All available history.
Puhua Capital: Single-lead accounts for 43% and co-led for 57% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead343%
Co-led457%

Team

Guoxiong Cao

Executive Chairman

He Wei

Cultural Partner

Jingwen Ni
Lily Shan

Legal Director

Shen Qinhua

Founder and Managing Partner

Wang Hongwen

Managing director

Wu Yihui

Managing Partner

Xiaofeng Wu
Yang Li

Vice President

Yao Zhen

Partner

Zhu Baolin

Vice President