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About ZSVC
ZSVC is a venture capital firm founded in 2007. It is primarily based out of Hangzhou, China. As of Feb 2026, ZSVC is an active investor, having invested in 160 companies, with 1 new investment in the last 12 months. It primarily invests in Series A round in China based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and High Tech. Most recently it participated in the $***** Series C round of Trugotech Overall, ZSVC portfolio has seen 4 unicorns, 15 IPOs and 1 acquisition including key companies like Harbour BioMed, MINIEYE and Taimei Technology. A lot of funds co-invest with ZSVC, with names like Shanghai Ivy Capital sharing a substantial percentage of its portfolio. ZSVC has team of 6 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Seed & 4 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
ZSVC's List of Top Investments
ZSVC has a portfolio of 160 companies, including 4 unicorns. Their most notable investments are in Fusionride and Biomart.Their portfolio spans across China, United States, Canada and 2 more locations. They have invested in Enterprise Applications, Consumer, High Tech and 31 other sectors, across stages such as Series A, Seed and 4 more. Here is the list of top investments by ZSVC:
Developer of antibody therapeutics in immunology and oncology disease. The products Batoclimab for the treatment of autoimmune diseases, Tanfanercept for the treatment of dry eye disease, HBM4003, HBM9022, to prevent and treat COVID-19, and various candidates for treating solid tumors, myeloma, and cancer. The company has a Harbour Mice, HBICE, and single-cell technology platform to generate fully human monoclonal antibodies.
Key facts about Harbour BioMed
- Founded Year: 2016
- Location: Shanghai (China)
- Stage: Public
- Total Funding till date: $313M
- Employee Count: 111 as on May 31, 2026
- Investors: GIC, Greater Bay Area Homeland Investments and 19 Others
- Latest Funding Round: Series C, Jul 09, 2020, $*****
- Highlight: Public
Developer of healthcare professional robots. It manufactures surgical robotic systems, endosurgical instruments, mixed reality training, and multimedia recording. The company develops surgical robotic systems designed to make advanced surgical procedures accessible. It offers endosurgical instruments, mixed reality training modules, and multimedia recording and streaming technology. The company's surgical robotic system supports minimally invasive robotic procedures across multiple specialties.
Key facts about SS Innovations International
- Founded Year: 2015
- Location: Gurugram (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Stage: Seed
- Total Funding till date: $2.45M
- Employee Count: 443 as on May 31, 2026
- Investors: ZSVC, Yijing Capital and 4 Others
- Latest Funding Round: Post IPO, Mar 06, 2026, $*****
3. MINIEYE
Developer of intelligent driving, cabin, and vehicle infrastructure cooperative systems. The company provides solutions for intelligent driving, spanning L0 to L4 automation. These solutions are designed for integration into intelligent vehicles, enhancing safety and comfort across various driving scenarios. The company also develops intelligent cabin solutions that aim to improve in-vehicle experiences by anticipating driver and passenger needs. Vehicle infrastructure cooperative systems are offered to broaden application scenarios and support smart transportation development.
Key facts about MINIEYE
- Founded Year: 2013
- Location: Shenzhen (China)
- Stage: Public
- Total Funding till date: $40.2M
- Employee Count: 55 as on May 31, 2026
- Investors: CICC, China Developement Bank and 20 Others
- Latest Funding Round: Series E, Nov 06, 2023, $*****
- Highlight: Public
A digital intelligence platform focused on the life sciences sector. The company's products include TrialOS a digital service platform designed to empower clinical research and PharmaOS a collaborative digital marketing platform tailored for the life and health industry.
Key facts about Taimei Technology
- Founded Year: 2013
- Location: Pleasanton (United States)
- Stage: Public
- Total Funding till date: $194M
- Employee Count: 175 as on May 31, 2026
- Investors: Tiger Global Management, SAIF Partners and 9 Others
- Latest Funding Round: Series E, Oct 18, 2019, $*****
- Highlight: Public
5. Wiz
Wiz is a cloud-based enterprise knowledge management software provider. It offers features such as file fragmentation, webpage clipping, notes management, checklist management, attachments management, editing tools, cloud data syncing tools, tags management, shared workplace management, and organizing work. The company allows users to download its application on iOS and Android platforms.
Key facts about Wiz
- Founded Year: 2004
- Location: Beijing (China)
- Stage: Seed
- Total Funding till date: $3.06M
- Employee Count: 2 as on May 31, 2026
- Investors: Gobi Partners, ZSVC and 2 Others
- Latest Funding Round: Seed, Oct 08, 2018, $*****
ZSVC's Year-on-Year Investment Trends
ZSVC has invested in 160 companies over the last 15 years, with an average of 4 new investments annually in the last 10 years. As of Feb 2026, it has made 1 investment in this year. Its most recent first time investment was in Trugotech and most recent follow-on round was in Hangzhou Lianchuan Biotechnology.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 0 | 0 | 0 |
2024 | 6 | 0 | 6 |
2023 | 3 | 0 | 3 |
2022 | 6 | 0 | 6 |
2021 | 2 | 0 | 2 |
2020 | 9 | 1 | 10 |
2019 | 5 | 1 | 6 |
2018 | 8 | 0 | 8 |
2017 | 2 | 1 | 3 |
ZSVC's Investments by Stage
ZSVC has made 26 investments in Series A stage with an average round size of $22M, 13 investments in Seed stage with an average round size of $1.12M and 11 investments in Series B stage with an average round size of $47M.Stage of entry | No. of Investments |
|---|---|
Series A | 26 |
Seed | 13 |
Series B | 11 |
Series C | 3 |
Series D | 2 |
Others | 1 |
Note: We have considered here, only first round of investments
ZSVC's Investments by Sector
ZSVC has a diverse portfolio, with companies operating in the Consumer, Life Sciences, Enterprise Applications, High Tech and HealthTech. Notably, it has invested in 74 Tech companies, 59 Enterprise (B2B) companies, 43 Consumer (B2C) companies and at least 31 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 15 |
Life Sciences | 9 |
Enterprise Applications | 8 |
High Tech | 7 |
HealthTech | 5 |
Others | 62 |
Note: We have considered here, only first round of investments
ZSVC's Investments by Geography
ZSVC has made most investments in China (54), followed by Canada where it has made 1 investment.Country | No. of Investments |
|---|---|
China | 54 |
Canada | 1 |
United States | 1 |
Note: We have considered here, only first round of investments
ZSVC's recent investments
ZSVC has made 1 investments in 2026 so far - Trugotech.Here are the most recent investments by ZSVC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 04, 2026 | China | Series C | 3537 | [+2] | |
Jun 03, 2024 | Canada | Series A | 2241 | ||
May 06, 2024 | China | Series A | 4888 | ||
Apr 08, 2024 | China | Seed | 6261 | - | |
Apr 03, 2024 | China | Series A | 9423 | [+5] |
Unicorns in ZSVC's Portfolio
ZSVC has 4 unicorns in its portfolio - Huimin, Tongdun Technology, Dt Dream and others. The most recent unicorn in their portfolio is Huimin. It became a unicorn in 2019, 4 years after ZSVC first invested in it.Here is a list of unicorns in ZSVC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
45 | Online B2B retailer platform offering grocery products | 2013 | Beijing | Series C | mtqjndc | ||
50 | Provider of AI-powered decision intelligence platform for risk and security management | 2013 | Hangzhou | Series D | vtcllfn | ||
44 | Cloud based big data infra solution provider | 2015 | Hangzhou | Series B | mi{gzeq | ||
45 | Online and mobile advertising solutions provider to SMEs | 2004 | Hangzhou | Series D | gggnntq |
IPOs and Publicly Listed companies in ZSVC's Portfolio
15 of ZSVC's portfolio companies have become public. Hqvt got listed on the Hong Kong Exchanges (HKG), in Jun 2026 at marketcap of $712M and Beijing Xunzhong Communication Technology got listed on the Hong Kong Exchanges (HKG) at marketcap of $210M.Here are ZSVC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 22, 2026 | - | - | 4886 | |
Jul 09, 2025 | - | - | 1028 | |
Dec 27, 2024 | Apr 08, 2019 | Series B | 9506 | |
Oct 08, 2024 | Apr 05, 2018 | Series D | 3937 | |
Aug 20, 2024 | May 24, 2021 | Series B | 6284 |
Acquired companies in ZSVC's Portfolio
1 company from ZSVC's portfolio has been acquired. The most recent acquisition was Missfresh.Here are ZSVC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 23, 2022 | Nov 12, 2015 | Series B | 4814 |
Team profile of ZSVC
ZSVC has a team of 6 members including 5 Partners and 1 Principal located in China. ZSVC's team does not sit on the board of any company as of now.Here is a list of all team members in ZSVC:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | - | |
Partner | China | - | - | |
Partner | - | - | - | |
Partner | China | - | - | |
Partner | - | - | - | |
Principal | - | - | - |
Co-investors of ZSVC
Over the past 15 years, 220 investors have co-invested in ZSVC's portfolio companies. This includes funds and angels.
- Invested before ZSVC: Matrix Partners China, Advantech Capital and 69 others have invested in rounds before ZSVC. There are 3 companies where Matrix Partners China has invested before ZSVC and 2 companies where Advantech Capital has invested before ZSVC.
- Top Co-investors of ZSVC: 68 investors entered a company along with ZSVC. These include investors like Shanghai Ivy Capital (2 companies).
- Invested after ZSVC: A total of 81 investors have invested in ZSVC's portfolio after their investments. Top Investors include Oriental Fortune Capital (2 companies), CICC (2 companies) and Tiger Global Management (2 companies).
Recent News related to ZSVC
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Zhejiang Aoshi completed a series A financing of over 100 million yuan, with general manager Liu Wei holding 39%CICC online•Apr 08, 2024•OriOSMO, ZSVC, Caitong Innovation, Glory Ventures and 2 others
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Furui Zhixing received hundreds of millions of yuan Pre-A round financing accelerated perception of fusion technology innovation research and developmentSecurities Star•Feb 26, 2024•ZSVC, SIA, , Qiaoxin Group and 1 other
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Furui Zhixing completed hundreds of millions of yuan Pre-A round financingfromgeek.com•Feb 26, 2024•Furui Group, ZSVC, Zhongshan Venture Capital
