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The Venture Codex

TF Capital

88 Keyuan Rd, Pudong District, Unit 705, Tower 1, Shanghai, 201203, China

Overview

Proprietary trading company specializing in foreign exchange and ventures.

Founded

2013

Deals · 12mo

4

Links

WebsiteLinkedIn

Stage focus

Series A
Series B

Geographic focus

China
United States

Sector focus

—

Investment portfolio

31rounds
NAMEDATESIZE
Efficient Computer
Sep 2026Participated
$97 MSeries B
QL Biopharma
Mar 2026Participated
$73 MSeries C
Angitia Biopharmaceuticals
Feb 2026Participated
$130 MSeries D
Sanegene Bio
Dec 2025Participated
$110 MSeries B
Avenzo Therapeutics
Sep 2025Participated
$60 MSeries B
Minghui Pharmaceutical
Aug 2025Participated
$131 MOther Equity
Avenzo Therapeutics
Mar 2024Participated
$150 MSeries A
Perfumeo
Jan 2024Led
$1 MSeed
Sanegene Bio
Dec 2023Participated
$84 MSeries A
Positive Sequence Biology
Jun 2023Participated
$6 MOther Equity
Neowise
Mar 2023Participated
$29 MSeries A
Allorion Therapeutics
Mar 2023Participated
$50 MSeries B
Efficient Computer
Sep 2026Participated
$97 MSeries B
QL Biopharma
Mar 2026Participated
$73 MSeries C
Angitia Biopharmaceuticals
Feb 2026Participated
$130 MSeries D
Sanegene Bio
Dec 2025Participated
$110 MSeries B
Avenzo Therapeutics
Sep 2025Participated
$60 MSeries B
Minghui Pharmaceutical
Aug 2025Participated
$131 MOther Equity
Avenzo Therapeutics
Mar 2024Participated
$150 MSeries A
Perfumeo
Jan 2024Led
$1 MSeed
Sanegene Bio
Dec 2023Participated
$84 MSeries A
Positive Sequence Biology
Jun 2023Participated
$6 MOther Equity
Neowise
Mar 2023Participated
$29 MSeries A
Allorion Therapeutics
Mar 2023Participated
$50 MSeries B
31
Items
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Insights

Time horizon

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Deal Distribution

TF Capital: 31 funding rounds are recorded in the selected participation categories.All available history.
TF Capital: 31 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed10
Series A29
Series B111
Series C+03
Other Equity13

Monthly Deal Activity

TF Capital: 31 deals are recorded across 147 months.All available history.
TF Capital: 31 deals are recorded across 147 months. All available history
MonthDeals
Aug '141
Sep '140
Oct '140
Nov '140
Dec '141
Jan '151
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '150
Sep '150
Oct '150
Nov '150
Dec '150
Jan '161
Feb '160
Mar '160
Apr '161
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '171
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '181
Jan '191
Feb '190
Mar '190
Apr '190
May '191
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '201
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '202
Jan '210
Feb '211
Mar '210
Apr '210
May '210
Jun '210
Jul '211
Aug '210
Sep '211
Oct '211
Nov '211
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '221
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '232
Apr '230
May '230
Jun '231
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '231
Jan '241
Feb '240
Mar '241
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '251
Sep '251
Oct '250
Nov '250
Dec '251
Jan '260
Feb '261
Mar '261
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

TF Capital: Health & Life Sciences is the largest displayed sector by deal count (29 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.

TF Capital: Health & Life Sciences is the largest displayed sector by deal count (29 deals). All available history
SectorDeals
Health & Life Sciences29
Manufacturing2
Space & Frontier Tech2
Consumer & Lifestyle2
Networks, Cloud & Communication1
Hardware & Robotics1
Enterprise Software1
AI & Machine Learning1
Real Estate & Construction1
Data, Analytics & IT1

Deal Size Distribution

TF Capital: 31 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.

TF Capital: 31 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M2
$10M-$25M5
$25M-$50M7
$50M-$100M7
$100M-$250M9
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

TF Capital: China has the largest recorded deal count among the displayed regions (18 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

TF Capital: China has the largest recorded deal count among the displayed regions (18 deals). All available history
RegionDeals
China18
United States13
TF Capital: 20 co-investors are shown, with Qiming Venture Partners sharing 13 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.

TF Capital: 20 co-investors are shown, with Qiming Venture Partners sharing 13 recorded deals. All available history
Co-investorShared deals
Qiming Venture Partners13
Lilly Asia Ventures6
OrbiMed5
Hongshan Capital Group (Sequoia Capital China)4
Ally Bridge Group3
Elikon Venture3
INCE Capital3
Venrock3
5Y Capital2
ARCH Venture Partners2
Boyu Capital2
BVF Partners2
Deep Track Capital2
Delos Capital2
Fidelity Management & Research Company2
Foresite Capital2
Huagai Capital2
Janus Henderson Investors2
K2 Venture Partners2
Lake Bleu Capital2

Investment Strategy

TF Capital: Led accounts for 16% and participating for 84% of round participation.All available history.
TF Capital: Led accounts for 16% and participating for 84% of round participation. All available history
CategoryDeals (count)Share (%)
Led516%
Participating2684%
TF Capital: Single-lead accounts for 40% and co-led for 60% of lead dynamics.All available history.
TF Capital: Single-lead accounts for 40% and co-led for 60% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead240%
Co-led360%

Team

Dr. Zhang Yibo

Partner

H.J. Jiang

Founder & CEO

Wei Cheng

Managing Director

Yi Liu

Director