China Everbright New Economy Fund
Business Overview
Established in 2016, China Everbright New Economy Fund dedicates to industrial intelligence, new energy, new materials, and other technology innovation sectors. To date, the New Economy series fund comprises 10 PE and VC funds, including 9 RMB-denominated funds and 1 USD-denominated fund, with assets under management exceeding RMB 26 billion. Representative funds include Everbright-IDG Industrial Fund, Everbright Zhongying Fund, New Economy USD Fund, Everbright S Fund, Ganzhou Guangqi Guohui Fund, and Huaian Hongze Guangqi Fund. We have invested in 84 high-quality enterprises, of which 34 have successfully IPO or exited via M&A, with more companies expected to IPO in the near future. After years of steady development, the New Economy series has become China Everbright's flagship fund platform, renowned for its focused expertise in the technology sector and proven investment and exit capabilities.
Our portfolio companies include numerous leading companies such as SenseTime (0020.HK), NIO (NYSE: NIO), XPeng (Nasdaq: XPEV), 4Paradigm (6682.HK), Circle (NYSE: CRCL), QiAnXin (688561.SH), Terminus, CiDi, Yunji Technology（2670.HK）, UMS, Mashang Consumer Finance, Chunmi Technology, iQiyi (Nasdaq: IQ), Cloud Music (9899.HK), Sanrenxing (605168.SH), HC SemiTek (300323.SZ), and MLS (002745.SZ), etc.
Investment Strategy
As China's economy transitions towards high-quality development, characterized by ongoing industrial upgrading and breakthroughs in frontier technologies, the New Economy Fund closely aligns its strategy with national priorities. We focus on key sectors including smart manufacturing, artificial intelligence, robotics, the new energy and new materials industrial chain, semiconductor equipment and materials, AR/VR and next-generation terminals, and high-end equipment manufacturing. The Fund delivered strong returns during the New Economy 1.0 era of mobile internet, Now, embracing the New Economy 2.0 wave, we are proactively focusing on industrial intelligence and energy & materials innovation sectors, continuously supporting the sustainable development of leading Chinese companies in the new economy landscape.
Team Strengths
Strong Industry Research and Sourcing Capabilities:
We have established an investment research system deeply integrated with industry dynamics. Leveraging systematic sector analysis and extensive project coverage, we have accumulated substantial investment experience and a robust pipeline. By utilizing high-quality resources within and outside the Everbright ecosystem, combined with the team's profound industry expertise, we consistently identify primary investment opportunities and provide comprehensive empowerment and full-chain financial support to our portfolio companies. We also collaborate with industry leaders, top investment banks, law firms, and accounting firms to deeply engage industrial chains and identify high-potential investment targets upstream and downstream.
Robust Fund Management System:
We have built a mature fund operation and investment management framework, featuring a scientific and rigorous investment decision-making process that is continuously optimized in response to market changes and regulatory requirements. Drawing on China Everbright’s nearly three decades of experience in alternative investments, the New Economy Fund possesses end-to-end management capabilities spanning project sourcing, due diligence, investment decision, post-investment management, and exit execution. Regarding risk control, we have implemented a comprehensive mechanism covering the entire investment lifecycle ("Pre-investment, During-investment, Post-investment"), enabling continuous monitoring and proactive management of various risks to safeguard the interests of investors and portfolio companies.
For post-investment management and value-added services, we have a dedicated team that provides in-depth monitoring and resource integration. We support our portfolio companies across multiple dimensions, including capital market operations, industrial resources, cross-border business expansion, brand building, and talent acquisition, facilitating significant value enhancement.
Diversified and Professional Investment Team:
The dedicated investment professionals within the New Economy Fund team possess diverse industry backgrounds, having previously worked at renowned investment institutions, investment banks, research institutes, internet companies, audit firms, and industrial corporations. This blend provides them with both international perspective and local expertise. The team has collectively managed 10 successful RMB and USD funds, with a track record validated by the market. Each member specializes in their respective focus areas, conducting forward-looking industry research and making precise investment judgments to consistently create value for our portfolio companies and investors.
Wish
As the world’s largest unlisted provider of full mobile cross-border e-commerce capabilities, Wish primarily targets young people and medium- and low-income groups in developed countries across Europe and the US. Wish has already become one of the most popular mobile shopping apps in Europe and the US. It has evolved into a gigantic B2C platform in terms of both trading volume and operating scale by featuring a combination of “mobile terminal + intelligent recommendation + cross-border e-commerce” and focusing on the shopping characteristics of differentiated consumer groups.
China UnionPay Merchant Services Co., Ltd.
China UMS is an iconic name with great brand value, as it has consistently taken the largest market share in the payments and acquiring sector. China UMS has many years of experience in the acquiring and payment sector, its bankcard acquiring service covers 337 cities above the prefecture level. By building on a strong network of merchant resources and a well-established payment and clearing system, China UMS has built a massive and reliable database for merchant operations that lays a solid foundation for subsequent development of financial services.
iQIYI
The Chinese video industry has witnessed phenomenal growth in the past few years. Fueled by the continued popularity of mobile Internet and a new wave of consumption upgrades in China, the demand for diversified and high-quality video content has continued to rise. As the leading video entertainment brand in China, iQIYI has focused on creating content IP supported by technology innovations to develop a considerable amount of high-quality original content in recent years, leading to explosive growth of Internet-enabled entertainment, including online variety shows, online dramas and online movies. In addition, it leads China’s VIP paid membership services.
NextEV
NextEV was established by Li Bin, founder and CEO of Yiche.com and former CEO of Dangdang.com, and Li Xiang, founder of Autohome.com.cn, riding on the development of internet technology in 2014. The Company is engaged in the research, development, manufacturing, sale and after-sale service of mid- to high-end smart electric vehicles.
SenseTime
A globally leading AI platform which prepares a world top in-depth learning community and super-calculating center with independent IR rights. A series of AI technologies have been invented, among them are facial identification, image & text identification, medical imaging & identification, video analyzing, unmanned driving and remote control. SenseTime occupies leading market share in a list of vertical domains covering numerous industries such as smart city, smart phone, interactive entertainment & advertising, automobile, finance, retail sale, education and real estate. At present, SenseTime has established cooperative ties with over 700 world famous businesses and institutions from home and abroad.
HC SemiTek
HC SemiTek is a leading domestic LED chip supplier. As a high-tech enterprise in the "New Materials, New Energy" sector, it is dedicated to the R&D, production, and sales of high-quality LED epitaxial materials and chips, primarily GaN-based blue and green light series products. The company possesses internationally advanced technological R&D capabilities and mature production processes, continuously innovating based on customer needs.
Website: http://www.hcsemitek.com/
4Paradigm
A global leader of AI technological and service provider. Equipped with cutting-edge machine-learning technology, 4Paradigm is able in accurate data anticipation and cultivation, thus enhancing productivity, lowering risks, and harvesting greater business returns. The Transfer Learning model offered by 4Paradigm is recognized as the Next Generation AI in the industries, for which the company maintains global industrial dominance.
Xiaopeng Motors
Xiaopeng Motors was established in Guangzhou in mid-2014. It aims to produce Internet electric vehicles for young people who born to get connected. The excellent technology and splendid design are the product genes of Xiaopeng Motors. Centering on consumer experience, Xiaopeng Motors is equipped with "electric engine" + "data engine". It can not only shuttle in the city, but also gallop on the information highway. It aims to become the world's leading manufacturer and operator of smart mobility.
Meituan-Dianping
China largest O2O platform providing local services, categorized information and online trading in China. Its aim is to be top global O2O platform for life services. Major products includes MeiTuan app, Dazhong Review and MeiTuan takeaway app, providing services in cuisine, takeaway, travelling, group purchasing and reviews.
NetEase Cloud Music
Founded on April 2013, Netease Cloud Music rose to be among the largest musical platforms in China, with over 600 million registrations as of November 2018, an increase by 200 in the twelve months. It records universal praises for diverse user experiences, accurate and personalized recommendations, and perfect all-rounded networking.
Tantan
Tantan is a social App based on big data intelligent recommendation and new interactive mode. According to the user's personal information, location, interests and other information, Tantan calculates and recommends people around you who match with you, and helps users meet new friends who feel good toward each other.
Mashang Consumer Finance
Mashang Consumer Finance Co., Ltd. (MSCF) is a tech-driven financial institution with a consumer finance license by China Banking and Insurance Regulatory Commission (CBIRC). We started business in June 2015, and completed three rounds of capital injections respectively in 2016, 2017, and 2018, total registered capital amounting to 4 billion as of now. Our shareholders include CBEST(600729.SH), ZKJ Technology, WUMART Technology, Chongqing Bank(01963.HK，601963.SH）), Sunshine Property Insurance, China Zhejiang Commodities City Group(600415.SH), together with whom we have also got new strategic investors such as CICC, China Securities, and Chongqing Liangjiang New Area, which are either central or local state-owned entities.
Three's Company
Three's Company established in 2003 and started its business in the internet industry in 2014. The company joined the Association of Accredited Advertising Agencies of China in 2016 and is dedicated in providing integrated marketing service. The main business includes digital marking, event planning and campus media and marketing services.
Yuanqi Senlin
Yuanqi Senlin is a premium drink production company, established in 2016. The company launched low sugar, low calories products based on the younger generation’s healthy life style and used the creative internet technology for marketing and promotion. Yuanqi Senlin series products have covered more than 30 provinces, cities and autonomous region; also exported to over 40 countries, including the US, Australia, New Zealand, Japan and Singapore, etc.
Code Mao
Code Mao is the famous Chinese code education brand for children. The company has launched over 19 coding classes for 7-16 years old children and serving more than 17000 public school over the country.
Beijing Yunji Technology Co.,Ltd
Beijing Yunji China Technology Co., Ltd. was established in 2014. With years of accumulation in indoor positioning and navigation, intelligent robot moving, large data processing, as well as a young and diversified team, keen market judgment and solid products, engineering competence, Yunji has provided a variety of intelligent solutions for various scenarios like well-known enterprises, government administrative service institutes, Internet companies, robotic research institutes, community services and so on.
QI-ANXIN Technology Group
QI-ANXIN Technology Group Inc. (stock code 688561) was founded in 2014 and specializes in serving the cybersecurity market by offering next generation enterprise-class cybersecurity products and services to government and businesses. With its continuous commitment to R&D innovation and security capabilities centered on actual offensive and defensive, the company has grown to be a domestic leading cybersecurity provider with its strength built on big data, artificial intelligence and security operation technology. QI-ANXIN is the Official Cyber Security Services and Anti-Virus Software Sponsor of the Olympic and Paralympic Winter Games Beijing 2022. The company has also established business presence outside Chinese mainland, such as in Hongkong, Indonesia, Singapore, Canada etc.
CiDi Inc.
CiDi, founded in 2017 and led by renowned entrepreneurial mentor Professor Li Ze Xiang, is a globally leading provider of autonomous driving hardware and technology products. Driven by the mission of "Building a Better Life with Intelligent Driving," the company is committed to hardware technological innovation, utilizing autonomous driving and vehicle-infrastructure cooperation technologies to make transportation safer, more efficient, and comfortable. It also enables autonomous operations in mining areas and closed campuses, addressing critical needs in industry and public welfare. CiDi focuses on the R&D of autonomous mining trucks and logistics vehicles, V2X technology, and intelligent perception solutions, offering cutting-edge products and solutions based on its proprietary technologies.
Chunmi Technology
Founded in May 2013, Chunmi Technology is a technology-driven kitchen ecosystem centered around internet-enabled kitchen appliances, positioning itself for the era of customized future cooking. In April 2014, Chunmi joined the Xiaomi ecosystem chain, focusing on the R&D and production of internet kitchen appliances and systems. Starting in 2016, following its strategy to build a comprehensive kitchen ecosystem, Chunmi successively established three major independent brands for the domestic market: Zhi Wu Zhu, Quan Chu, and TOKIT. In 2021, the group expanded globally under the TOKIT and joyami dual-brand strategy, gradually establishing a synergistic global smart kitchen ecosystem.
Website: https://www.chunmi.com/
Circle Internet Group, Inc.
Circle is a global leading financial technology company focused on building blockchain-based payment and financial infrastructure. Its core business involves issuing and managing stablecoins, including the USD-pegged USDC and the EUR-pegged EURC. As one of the most widely used stablecoin networks globally, Circle provides efficient, low-cost cross-border payments, digital currency trading, and blockchain financial solutions for businesses, developers, and financial institutions. USDC, a compliant and transparent stablecoin, is widely used in DeFi (Decentralized Finance), Web3 applications, and traditional finance. Circle is dedicated to helping businesses integrate stablecoin and blockchain technology to optimize global capital flows. Circle, recognized as the "first stablecoin stock," was officially listed on the New York Stock Exchange on June 5, 2025.
Website: https://www.circle.com/
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Gerry Jin
Managing Director, Head of New Economy Fund Department
Gerry JIN is the Managing Director and Head of the New Economy Fund Department at China Everbright, focusing on new economy equity investments and cross-border deals. With over 16 years of investment experience, he has led transactions totaling more than RMB 30 billion. He established the China Everbright New Economy Fund Department and currently manages the department's 10 funds.
Mr. Jin has outstanding experience in technology innovation investments, industry consolidation, large-scale mergers and acquisitions, cross-border transactions, and the governance of listed companies both domestically and internationally. He possesses a particularly strong track record in new technology and new energy sectors. His key investments include SenseTime (0020.HK), NIO (NYSE: NIO), XPeng (Nasdaq: XPEV), 4Paradigm (6682.HK), Circle (NYSE: CRCL), QiAnXin (688561.SH), Terminus, CiDi, Yunji Technology（2670.HK）, UMS, Mashang Consumer Finance, Chunmi Technology, iQiyi (Nasdaq: IQ), Cloud Music (9899.HK), Sanrenxing (605168.SH), HC SemiTek (300323.SZ), and MLS (002745.SZ), etc.
Prior to joining China Everbright, Mr. Jin served as Vice President and Board Secretary at Peking University Resources Group Holdings Ltd. (0618.HK) and held the position of Investment Director at Peking University Founder Group, where he led several major acquisitions, restructurings, and strategic M&A transactions. Before that, he worked at CITIC Private Equity Funds Management Co., Ltd.
Mr. Jin participated in the Advanced Leadership Program at the Yale School of Management. He holds a Master of Business Administration from the University of Pittsburgh.
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Triston LIU
Investment Director
Liu Shuo focuses on investments in the new energy sector, bringing an international perspective and extensive experience in corporate governance, mergers and acquisitions. He has long been engaged in industry research, strategic management, and project operational management, possessing deep industrial insights and solid management experience.
As a member of the Executive Committee and/or Investment Committee for several funds within the New Economy Fund Department, he is responsible for fund investment operations, post-investment management, project exits, and related investment management tasks.
Mr. Liu holds an MBA from the USC Marshall School of Business and a Bachelor's degree from Tsinghua University.
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Li Zhe
Investment Director
Li Zhe specializes in industrial digitalization and new-generation information technology. He brings 8 years of technical R&D experience and 16 years in VC/PE, with full-cycle fund management experience covering fundraising, investment, management, and exit for multiple primary market private equity funds.
He has led the investment, management, and exit of over ten key projects, several of which have achieved listing. Previously, he worked at Huawei Technologies Co., Ltd. (Wireless Core Network Development Department), World Union, and Shenzhen Capital Group Co., Ltd., gaining substantial experience in industrial research, equity investment, and corporate strategic planning.
Mr. Li is an alumnus of the Hejun Business School. He holds an MBA from the School of Economics and Management at Tsinghua University and a Bachelor's degree in Economic Information Management from Anhui University.
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Michelle ZOU
投資總監
Michelle ZOU is responsible for fund fundraising. She has over 10 years of experience in financial management and fund operations, complemented by a decade of overseas entrepreneurial experience.
She previously held positions at FountainVest Partners, China eCapital, China Everbright Healthcare Fund (as Investment Vice President), China Everbright Institutional Business Department (as Director), Evergreen Capital (as Executive Director), and China Merchants Capital (as Executive Director). She has participated in the establishment of three RMB funds and the exit execution of multiple projects.
Ms. Zou holds a Bachelor of Science in Psychology from the University of Auckland, a Bachelor of Commerce in Accounting from Massey University, and an MBA from Webster University/Shanghai University of Finance and Economics.
New Economy Fund
| Tel | (+86) 10-8800 9349 |
|---|---|
| tianyang.zhang@everbright.com | |
| Postcode | 100034 |
| Address | 17F, 1700, China Overseas International Center, 28 Ping'anli West Street, Xicheng District, Beijing, 100034, China |
